The largest bank in Singapore, DBS Group, reported on Thursday that higher interest rates contributed to income growth and expected rise in its net interest margin (NIM), causing its second-quarter profit to leap an expectation-beating 48% to a new record.   A hike in the Hong Kong Interbank...

Elon Musk might benefit if China loses the Indian market.   For its proposal to invest in India, Tesla has received a red carpet welcome, while its main competitor in the electric vehicle market, China's BYD, has been put on hold due to enhanced scrutiny from New Delhi.   As a result,...

A large number of new hybrid cars are being developed by Ford Motor.   "You're going to see a lot more hybrid systems from us," CEO Jim Farley said on Thursday after the business disclosed second-quarter earnings that showed expanding losses on its electric car unit.   The remarks go...

China's BYD informed its India joint venture partner that it would abandon plans for a new $1 billion investment to produce electric cars after its investment proposal was scrutinised by New Delhi, according to a report buy Reuters quoting information from two people with knowledge of the...

As the British pharmaceutical company wagers on novel genetic therapies, AstraZeneca announced on Friday that its Alexion division has reached an agreement to acquire Pfizer's early-stage rare disease gene therapy portfolio for up to $1 billion, plus royalties on sales.   The British...

Amazon.com's cloud division has attracted thousands of clients to test out its service as it competes with Microsoft and Google in a crucial area of artificial intelligence, according to a report by Reuters quoting information from an executive of the company.     On Wednesday, the...

A business sector that was already operating on the periphery of the American financial system has suffered a hit as a result of Mastercard's directive to financial institutions to stop permitting marijuana transactions on its debit cards.   In spite of the fact that marijuana has been...

A court in Australia ordered Facebook owner Meta Platforms to pay a total of A$20 million ($14 million) in fines for secretly gathering user data through a smartphone software that was marketed as a privacy protector.   Additionally, the Australian Federal Court ordered Meta to pay A$400,000...

After abandoning its non-profit model, Broadcast Music Inc (BMI), the music rights agency that represents prominent songwriters like Lady Gaga, Taylor Swift, and Rihanna, is once more looking at options, including a sale, according to sources with knowledge of the situation.   As it receives...

Bayer announced a 2.5 billion euro ($2.8 billion) write-down on glyphosate-related assets as a result of weak glyphosate-based weed killer demand, which also caused Bayer to lower its full-year earnings guidance for the second time.   The German manufacturer of pharmaceuticals and pesticides...

Leading fashion houses Louis Vuitton and Dior, Moet Hennessy champagne and alcohol brands, and jeweller Chaumet, which will design the medals for the event, have all signed sponsorship agreements with luxury conglomerate LVMH to support the Olympic Games in Paris the following year.  ...