Latest news with #financialreview
Bloomberg
a day ago
- Business
- Bloomberg
Crown Close to $52 Million Sale of Sydney Penthouse, AFR Says
Crown Resorts Ltd. is close to selling a penthouse in its Sydney skyscraper for about A$80 million ($52 million), some A$20 million less than initially hoped for, the Australian Financial Review reported. A local buyer, using a structured deal, is said to be about to secure the six-bedroom apartment on the 81st floor of the 271-meter-tall One Barangaroo tower, the AFR said, citing unidentified industry sources.
Reuters
21-05-2025
- Business
- Reuters
CEO: Julius Baer does not expect additional major losses after $156 million writedown
May 21 (Reuters) - Julius Baer (BAER.S), opens new tab does not expect additional major credit losses, CEO Stefan Bollinger said on Wednesday, after the Swiss bank revealed a net charge of 130 million Swiss francs ($156.36 million) in a review of its credit portfolio. "While the review is ongoing, based on our findings to date, we do not expect to uncover additional material idiosyncratic risks that could lead to significant credit losses," Bollinger said. The 130 million francs in credit losses were across the remainder of the private debt book that the bank wound down ahead of plan and certain positions in the market book which it was reviewing, said CFO Evie Kostakis. "We can confirm that it's several facilities across several clients across the remainder of the private debt book and the mortgage book," she added.
Yahoo
21-05-2025
- Business
- Yahoo
CEO: Julius Baer does not expect additional major losses after $156 million writedown
(Reuters) -Julius Baer does not expect additional major credit losses, CEO Stefan Bollinger said on Wednesday, after the Swiss bank revealed a net charge of 130 million Swiss francs ($156.36 million) in a review of its credit portfolio. "While the review is ongoing, based on our findings to date, we do not expect to uncover additional material idiosyncratic risks that could lead to significant credit losses," Bollinger said. Sign in to access your portfolio
Bloomberg
10-05-2025
- Business
- Bloomberg
UK Chancellor Reeves Set to Review ISAs Within Weeks, FT Reports
The UK Chancellor of the Exchequer Rachel Reeves is preparing to launch a review of the market for Individual Savings Accounts within weeks, the Financial Times reported Saturday. The consultations on possible changes to Britain's ISA regime are set to begin in the coming weeks across London's financial district, with a Treasury paper expected to be launched at Reeves' Mansion House speech in July, the newspaper cites people familiar with the plans as saying.
Malay Mail
09-05-2025
- Business
- Malay Mail
Penang mulls review of i-Sejahtera aid programme, says Chow
GEORGE TOWN, May 9 — The Penang state government is considering a review of its i-Sejahtera social welfare aid programme, Chief Minister Chow Kon Yeow said today. Chow said a study on the programme has been completed but no decision has been made yet. 'The study was conducted to ensure the aid is effectively channeled to the targeted groups,' he told reporters after launching a programme at Universiti Sains Malaysia. He said the state executive councillor in charge will hold engagement sessions on the review and present the findings to the state executive council for a final decision. Chow noted that the i-Sejahtera programme involves substantial expenditure. 'If we want to continue with the whole programme, the state's financial commitment must also be strong,' he said, adding that the review may include reducing or discontinuing some categories under the programme. 'Some categories may no longer be appropriate, and there could be new initiatives introduced as replacements. We have financial constraints, so we need to cap our expenditure and determine which programmes we can support,' he explained. Chow clarified that the review does not necessarily mean a reduction in aid. 'Each year, expenditure for the i-Sejahtera programme increases as more people register. For instance, under the Warga Emas programme, longer life expectancy means more people register, requiring higher allocations,' he said. He added that if there is overlap with federal aid programmes, the state may not need to continue similar initiatives. 'We need to stretch our resources to ensure the most effective use,' Chow said.
