Dimon is making his own bet on a digital coin that could transform the global payments landscape: JPM Coin.Financeread more
Goldman Sachs' transition from the bank of choice for millionaires to a more inclusive, consumer friendly shop isn't cheap.Financeread more
KeyCorp said in an 8-K filing the fraud involves a "business customer" and was discovered "on or about" July 9.Banksread more
The Trump administration "will take a look" after billionaire investor Peter Thiel said the FBI and CIA should see if Chinese intelligence has infiltrated Google.Technologyread more
On Monday, the first day of Amazon's 48-hour shopping extravaganza this year, retailers that make more than $1 billion in annual revenues saw a 64% increase in their digital...Retailread more
Builder confidence for single-family homes rose just one point to 65 in July, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI)....Real Estateread more
Expectations for lower interest rates and less fear about tariffs sent investors back into the market and set up what could be a profitable run ahead.Marketsread more
Johnson & Johnson vowed to defend itself against lawsuits alleging the company fueled the opioid crisis and that its namesake talc-based baby powder caused ovarian cancer and...Health and Scienceread more
Southwest Airlines is delaying pilot hiring and captain upgrades with no end in sight to the grounding of the Boeing 737 Max.Airlinesread more
The U.S. and China have restarted their trade talks, but signs are showing a deal could be even harder to reach now.Marketsread more
On Tuesday, Ken Jeong ("Community") and D'Arcy Carden ("The Good Place") unveiled the 71st Emmy Award nominations.Entertainmentread more
DBS Group Holdings, Singapore's biggest bank, posted a small rise in core fourth-quarter net profit but fell short of analysts' estimates on a jump in provisions for non-performing loans in China and Singapore.
Bad debt provisions rose 40 percent to S$211 million ($155 million) from a year earlier, the highest level since the quarter ending June 2013, according to Thomson Reuters data. Those for Greater China excluding Hong Kong quadrupled to S$40 million.
Trading income was also hit, dropping 44 percent with the bank blaming less favourable trading conditions.
In its presentation slides, DBS said China and commodities markets would be key risks to watch.
The weaker-than-expected results eclipsed a 10 percent rise in full-year net profit to a record S$4 billion.
For the October-December quarter, net profit rose to S$838 million, below an average forecast of S$931 million from six analysts polled by Reuters.
That compares with a net profit before exceptional items of S$802 million in the same period a year earlier. In the previous year, the sale of a stake in a Philippine bank boosted overall net profit to S$973 million.
But DBS also said it would benefit from rising interest rates.
"Structurally higher returns of our franchise will become more evident as interest rates normalize," it said.
The city-state's banks have benefited from a surge in SIBOR, the benchmark for interbank lending, as interest rates on many home loans are pegged to it. SIBOR has climbed as the Singapore dollar weakened on the view that the U.S.Federal Reserve will move to raise rates later this year.