Latest news with #SM
Business Wire
16 hours ago
- Business
- Business Wire
As Personal Financial Health Deteriorates, More Customers Look to Retail Banks for Help Navigating Everyday Economic Challenges, J.D. Power Finds
TROY, Mich.--(BUSINESS WIRE)--More U.S. retail bank customers than ever are having trouble paying their bills on time, are unable to cover six months or more of living expenses and are experiencing deteriorating credit, with 43% now falling into the financially vulnerable category, 1 up from 27% five years ago. Against this backdrop of deteriorating financial health, the J.D. Power 2025 U.S. Retail Banking Advice Satisfaction Study, SM released today, finds customer interest in receiving advice and guidance from their retail bank is on the rise. 'Buzzwords like personalization and tailored advice get thrown around quite a bit among banking professionals, but this is much bigger than a marketing exercise,' said Jennifer White, senior director for banking and payments intelligence at J.D. Power. 'Bank customers—particularly younger ones—are telling their banks they need help right now. This presents a once-in-a-lifetime opportunity for retail banks to build valuable, enduring relationships, but they need to act quickly. Between growing uncertainty around the current economy and fears about account security and fraud, customers cannot afford to wait for their bank to figure out an advice strategy. Banks need to start delivering helpful guidance today.' Following are some key findings of the 2025 study: Customer interest in bank advice rising: More than one-fourth (26%) of bank customers say they are 'very interested' in receiving bank advice or guidance, up from just 19% in 2021. The desire for bank advice is particularly strong among customers under age 40, as more than one-third (36%) of such bank customers are currently seeking advice. Customers actively seek direction on how to improve finances: The top four topics on which customers are actively seeking guidance are focused on immediate concerns and fear of future financial challenges. Examples include quick tips and information to help improve their financial situation; ways to help save for emergencies; quick tips to help stick to a budget; and saving for a goal or large purchase. Many existing advice services miss the mark: One-fifth (20%) of bank customers have actively researched budget management services—which may help them meet their financial goals and education on money management/financial wellness—but never ended up using them. Advice recall improves significantly: Overall customer satisfaction with retail banking advice is flat year over year but recall of financial advice improves dramatically. This year, 46% of retail bank customers recall receiving financial advice, up from 42% in 2024 and 34% in 2021. Study Ranking Bank of America ranks highest in customer satisfaction with retail banking advice with a score of 621 (on a 1,000-point scale). U.S. Bank (618) ranks second and Chase (617) ranks third. The U.S. Retail Banking Advice Satisfaction Study includes responses of 8,903 retail bank customers in the United States who received any advice/guidance from their primary bank regarding relevant products and services or other financial needs in the past 12 months. It measures customer satisfaction with retail bank advice/guidance based on performance in five core dimensions on a poor-to-perfect rating scale. Individual dimensions measured are (in order of importance): quality; concern for needs; relevancy; clarity; and frequency. The study was fielded from March 2024 through March 2025. In addition to bank financial advice ratings, the study also provides financial health support index benchmarking data that evaluates proficiency of banks and credit card issuers in delivering financial support to customers including such services as helping customers make better financial decisions or helping them meet savings, creditworthiness or budgeting goals. Top-performing banks in the banking financial health support index are (in alphabetical order): Bank of America, Chase, Capital One, Fifth Third Bank, First Citizens Bank, Huntington, PNC, Regions Bank, TD Bank and U.S. Bank. Top-performing credit card providers in the credit card financial support index are (in alphabetical order): American Express, Bank of America, Chase, Discover, Fifth Third Bank, PNC, U.S. Bank and Wells Fargo. For more information about the U.S. Retail Banking Advice Satisfaction Study, visit See the online press release at About J.D. Power J.D. Power is a global leader in consumer insights, advisory services, and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 55 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies. J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company's business offerings, visit The J.D. Power auto-shopping tool can be found at
GMA Network
19 hours ago
- Entertainment
- GMA Network
Mas 'Pinas Saya sa SM!
Get ready for a vibrant celebration of Filipino pride, culture, and creativity as SM Supermalls brings you Mas 'Pinas Saya sa SM! Celebrate Independence Day with Pinoy pride, flavor, and fun! This year's 127th Philippine Independence Day celebration is a dynamic mix of tradition and modernity, from flag-raising ceremonies to pop culture explosions, all set to inspire joy, unity, and patriotism. Whether you're a foodie, a music lover, a selfie pro, or simply proud to be Pinoy, there's something for everyone at SM! Wave your flags high at SM Let your love for the Philippines fly high! Join SM for the Raise Our Flag events, happening nationwide on May 28 (National Flag Day) and June 12 (Philippine Independence Day). Witness as SM Supermalls across the country unite in a grand simultaneous flag-raising ceremony to honor our heritage and heroes. Snap your pride at Pinasayang photo spots Strike a pose and showcase your Pinoy pride with our vibrant, Instagram-worthy photo spots! Featuring the iconic Philippine jeepney, Pinoy street food carts, and bold visuals inspired by the Philippine flag, these setups are perfect for groupfies, OOTDs, and everything in between. Select malls will showcase Pinoy Pop Mural Art, hand-painted or digitally designed by talented local artists—so fresh, so Pinoy! Dine like a true foodie at Pinasarap Pinoy Food Fiesta Craving adobo, sisig, or maybe something with a modern twist? Take your tastebuds on a delicious journey at the Pinasarap Pinoy Food Fiesta! From classic dishes to new-school takes on Filipino cuisine, this celebration brings exclusive deals and promos at all your favorite Pinoy-themed restaurants in SM from June 1 to 12. Come hungry, leave happy, and celebrate our Filipino flavors and stories! Mesa, Manam, Locavore, and more await! Sing your heart out at Pinoy Pop Karaoke Challenge It's your time to shine! Whether you're a bathroom superstar or a real karaoke king or queen, join the ultimate showdown of OPM hits at the Pinoy Pop Karaoke Challenge on June 6 to 8 in select SM malls. Bring your best 'hugot,' grab the mic, and sing your heart out. Feel all the feels at Pinoy Pop Hugot Busking Nothing hits harder than live acoustic OPM. Starting May 28 to June 12, love songs to 'sawi' anthems will get in your feels as young Filipino buskers perform heartfelt renditions of your favorite tracks right at the activity center. It's raw. It's real. It's Pinoy Hugot at its best. Stan hard at Pinakilig PPOP Fandomination Calling all stans and fandoms! It's your chance to meet, greet, and scream for your fave PPOP idols in an electrifying celebration of Filipino talent. Watch show-stopping performances, join fan activities, and support the rising stars of Pinoy pop music. Shop local, shine global at Pinabonggang Kultura Celebrate world-class Filipino craftsmanship at Pinabonggang Kultura, in partnership with Kultura. Discover pieces that blend tradition with contemporary flair—from handwoven fashion to homegrown accessories and artisanal finds. Proudly wear and share the best of Filipino design! This June, let's paint the malls red, white, blue, and yellow! Mayumi Barong Lumban Kultura Mas 'Pinas Saya sa SM is a tribute to the Filipino heart, hustle, and heritage. So what are you waiting for? Grab your family and friends, and head to your nearest SM Supermall! Tara na, Pilipinas! Celebrate freedom, flavor, and Filipino fun—only at SM! To know more about SM Supermalls' Independence Day activities, visit or follow @SMSupermalls on social media. The article above is a sponsored press release from SM Prime Holdings.
Korea Herald
21 hours ago
- Business
- Korea Herald
Tencent becomes SM's No. 2 shareholder
Hybe sells full stake to Tencent unit in W243b block deal Hybe is selling its entire stake in SM Entertainment to Tencent, positioning the Chinese tech giant as the K-pop agency's second-largest shareholder and ending a fraught chapter between the two rivals. According to a regulatory filing Tuesday, Hybe will offload about 2.21 million shares to Tencent Music Entertainment Hong Kong, a Tencent subsidiary, via an off-hours block trade Friday. The shares are priced at 110,000 won each, valuing the deal at roughly 243.35 billion won ($176.7 million). Tencent will replace Hybe as SM's second-largest shareholder with a 9.66 percent stake. Korean IT giant Kakao remains the largest shareholder, with 41.5 percent through itself and its content arm, Kakao Entertainment. Hybe said the divestment is part of efforts to streamline its portfolio and enhance investment efficiency. 'We are streamlining noncore assets to focus on our main business,' the company said. 'Proceeds from the sale will be used to drive future growth initiatives.' The deal also marks the end of an uneasy alliance stemming from Hybe's failed takeover attempt of SM. In early 2023, Hybe bought a 15.78 percent stake, including 14.8 percent from founder Lee Soo-man, amid an ownership battle between Lee and SM executives. Despite investing about 550 billion won in its bid, Hybe was ultimately outmaneuvered by Kakao. Hybe has since trimmed its holdings and is now exiting at a modest gain, according to reports. Analysts see Tencent's entry as a potential tailwind for SM. 'SM shares have been stuck in the 120,000 won range due to overhang concerns (from Hybe's stake), and it's positive that this risk is being removed,' said Jie In-hae, an analyst at Shinhan Securities, who raised her target price for SM to 160,000 won from 130,000 won. Tencent's backing could also reinforce SM's activities in China, as expectations grow over a potential easing of Beijing's tacit ban on Korean pop culture. Tencent already holds stakes of about 6 percent in Kakao and 4 percent in Kakao Entertainment through subsidiaries, and has longstanding ties with Korean labels through distribution and investment. 'With its new stake in SM, Tencent is likely to strengthen collaboration among the entertainment companies it has invested in,' said Choi Min-ha, an analyst at Samsung Securities. 'Once the Chinese market reopens, SM could be one of the biggest beneficiaries.'
Yahoo
a day ago
- Business
- Yahoo
HYBE Sells Remaining Stake in K-Pop Rival SM Entertainment for $177 Million
HYBE has sold its remaining 9.38% stake in rival SM Entertainment to Tencent Music Entertainment for approximately $177 million, the company revealed in regulatory filing. The SM agency is home to such groups as EXO, Aespa (pictured above) and NCT 127; Tencent Music is a subsidiary of Chinese tech giant Tencent. The deal will see 2.21 million shares transferred at 110,000 Korean won per share and is set to close on May 30, according to the filing. HYBE initially acquired a 14.8% stake in SM from founder Lee Soo Man, and later upped its holding to 15.78% through an unsuccessful takeover bid, being topped by Kakao and its subsidiary Kakao Entertainment, which now holds slightly over 40%. Tencent is now the second-largest shareholder in SM. More from Variety HYBE Latin Launches 'Medellín Music Lab' in Colombia: 'Ready to Make History' (EXCLUSIVE) K-Pop Group NewJeans to Continue Label Battle Despite Fresh Court Setback Alan Chikin Chow Launches Casting Call for Co-Ed Pop Group He's Forming With HYBE America That Will Be Featured in a Scripted Series on YouTube (EXCLUSIVE) According to South Korea's Yonhap news agency, cited in Music Business Worldwide, HYBE stated that I has 'divested non-core assets as part of a choice and concentration strategy,' adding that the 'Secured funds will be used to secure future growth engines.' It noted that SM says that the company plans to 'work more closely with Tencent Music' following the share sale. MBW notes that China-based Tencent Music's investment in SM, a South Korean music company, coincides with reports that China will be lifting its ban on South Korean cultural and entertainment content imports. That ban was imposed by China in 2017 in response to the deployment of a U.S. missile system in South Korea. With a population of more than 1.4 billion people, China would seem ripe for Korean entertainment. Tencent Holdings also owns stakes in other K-pop operations, including Kakoa (a 4.61% stake) labels and YG Entertainment. Best of Variety New Movies Out Now in Theaters: What to See This Week Emmy Predictions: Talk/Scripted Variety Series - The Variety Categories Are Still a Mess; Netflix, Dropout, and 'Hot Ones' Stir Up Buzz Oscars Predictions 2026: 'Sinners' Becomes Early Contender Ahead of Cannes Film Festival
Pink Villa
2 days ago
- Business
- Pink Villa
HYBE decides to sell 243 billion KRW stake in SM Entertainment to THIS Chinese company
In a surprising twist that's sending waves through the K-pop world, HYBE, the powerhouse behind BTS, SEVENTEEN, and more, has decided to sell all of its shares in SM Entertainment, home to groups like EXO, NCT, Red Velvet, and aespa. And who's buying? None other than Tencent Music, a major Chinese entertainment player, is marking a big shift in who holds power in K-pop's business side. On May 27, according to a filing with the Financial Supervisory Service, HYBE's deal is valued at around 243 billion KRW (roughly USD 178 million), involving 2.2 million shares, which represents 9.66 per cent of SM's total stock. The shares will be sold at 110,000 KRW each, which is about 15 per cent lower than SM's current market price. After the transaction is completed on May 30 through a block deal after market close, Tencent will become SM's second-largest shareholder, right after Kakao. HYBE Owned Part of SM? Yes. In early 2023, HYBE jumped into the battle to gain control of SM Entertainment. HYBE had acquired a 14.8 per cent stake from SM's founder, Lee Soo Man, during a fierce fight with Kakao over SM's future. But after some back-and-forth, Kakao won the battle for control. HYBE backed off and began offloading its shares, first selling part to Kakao and now selling the rest to Tencent. Why Is HYBE Selling Shares Now? HYBE reveals this is part of 'reorganizing non-core assets,' meaning SM is no longer part of its long-term strategy. Instead, HYBE wants to focus on future growth, possibly new talent, technology, or global expansion, especially with BTS members currently on military hiatus. The timing of the sale also makes sense. SM Entertainment's stock has been going up, rising by about 20 per cent in the past month. Why? People are getting hopeful that China might start allowing more Korean entertainment again, like K-pop concerts and dramas. So for HYBE, this was a good moment to sell, while the stock price was still high and before things could change again. What Does This Mean for K-pop? This move shakes up the power balance in K-pop. For HYBE, it's a clean break from SM — a former rival in the same market. Now, HYBE can fully focus on its artists, platforms like Weverse, and global plans, especially with the return of BTS on the horizon starting in 2025.
