AIG names new CEO, plans to spin off life and retirement unit

elean 27 10 月

3 minutes

NEW YORK (REUTERS) - Insurer American International Group (AIG) on Monday (Oct 26) said its board approved a plan to separate the life and retirement business from the rest of the company, and named president Peter Zaffino as chief executive officer, effective next year. AIG shares were up nearly 8 per cent in extended trading on Monday. Mr Zaffino, 53, who succeeds 73-year-old Brian Duperreault, will take charge in March. Mr Zaffino will be AIG's seventh CEO since 2005. The insurer, which ranks among the top 10 US carriers by market value, said it has yet to make a decision on how to carry out the separation, beyond the board voting to establish two independent, market-leading companies. The separation of the business could take "a couple of years" and may be done in phases through sales of minority stakes, according to two people familiar with the matter. The board's decision does not rule out a single sale and any proposed transactions will also need board approval, AIG said. The life and retirement business accounted for 34 per cent of AIG's US$49 billion (S$66.7 billion) in 2019 adjusted revenue, compared with 64 per cent for its general insurance business, AIG said in Septemb...

SeaPRwire

Top Goldman Sachs lawyers accused of covering up sexual harassment

elean 27 10 月

3 minutes

NEW YORK (BLOOMBERG) - Goldman Sachs Group's general counsel and head of litigation were sued by a subordinate who said she was forced out after she spoke up about the sexual harassment of another female lawyer in the group. Marla Crawford, a former vice president and associate general counsel in Goldman's litigation and regulatory proceedings group, filed suit on Monday (Oct 26) in New York state court, alleging that she faced retaliation after raising concerns about global litigation head Darrell Cafasso using his position "to romantically prey" upon an unidentified woman who did not reciprocate his attentions. The suit comes just as the bank's image has been tarnished by accusations and punishments against the bank after a years-long Justice Department probe into the plundering of Malaysia's 1MDB investment fund, for which Goldman helped raise billions of dollars. The scandal has cost the bank more than US$5 billion (S$6.8 billion) and forced its Asia division to plead guilty to a US criminal charge. The suit alleges Mr Cafasso told General Counsel Karen Seymour about his conduct after his wife found out about it. Ms Crawford claims Ms Seymour proceeded to cover up for Cafasso, ...

SeaPRwire

South Korea economy returns to growth amid Covid-19 struggle

elean 27 10 月

3 minutes

SEOUL (BLOOMBERG, REUTERS) - South Korea rebounded from recession more strongly than expected last quarter, as the fastest export-growth in decades helped buffer the economy from a summer wave of the coronavirus that weighed on consumers. Gross domestic product increased 1.9 per cent in the three months through September from the prior quarter, the Bank of Korea reported on Tuesday (Oct 27). Economists had forecast 1.3 per cent growth. The biggest jump in exports since 1986 drove the trade-dependent country’s rebound from two quarters of contraction. Exports soared 15.6 per cent in the third quarter in sequential terms, reversing a 16.1 per cent contraction in the second quarter. South Korea's construction sector has not rebounded as quickly as exports, though there are some signs that factory production is improving with manufacturing sector output up 7.6 per cent from the second quarter. On a year-on-year basis, the economy shrank 1.3 per cent in the third quarter, after declining a revised 2.7 per cent in the second quarter. South Korea’s economy is coming back from its pandemic-triggered recession in a stronger position than most developed nations. But the recovery is vulnerabl...

SeaPRwire

Owner of Marina Bay Sands exploring $8.2 billion sale of Vegas casinos

elean 27 10 月

3 minutes

NEW YORK (BLOOMBERG) - Sheldon Adelson's Las Vegas Sands Corp is exploring the sale of its casinos in Las Vegas, according to people with knowledge of the matter, a move that would mark the mogul's exit, for now, from the US gambling industry. The world's largest casino company, Sands is working with an adviser to solicit interest for the Venetian Resort Las Vegas, the Palazzo and the Sands Expo Convention Center, which together may fetch US$6 billion (S$8.2 billion) or more, said the people, who asked to not be identified because the talks are private. The properties are all connected along the city's famous strip. A representative for Las Vegas Sands confirmed it was in very early discussions about a sale and that nothing has been finalized. A sale would concentrate Sands' casino portfolio entirely in Macau and Singapore, where it owns Marina Bay Sands. They are the two larger casino markets for Mr Adelson, who ranks as one of the world's richest people, with a fortune estimated at US$29.7 billion. The US was already a small and shrinking part of his business, accounting for less than 15 per cent of revenue last year. The money could allow the company fund other development oppor...

ACN Newswire

Couloir Capital Ltd. is pleased to announce the initiation of research coverage on Challenger Exploration Ltd.

indie 27 10 月

2 minutes

Vancouver, BC, Oct 26, 2020 - (ACN Newswire) - Couloir Capital Ltd. is pleased to announce the initiation of research coverage on Challenger Exploration Ltd. (ASX: CEL). The initial report is titled, "High-Grade Argentine Gold Project, Ecuadorian Project Next to 17-Million-Ounce Gold Deposit."About Challenger Exploration Ltd. Challenger Exploration Ltd. is a precious metals explorer with a focus on gold and gold-copper projects in Latin America. The company's flagship Hualilan Property is a gold exploration asset in the San Juan Province of Argentina which carries a non-compliant historical resource of 627,000 ounces at 13.7 g/t Au. The company also has the El Guayabo Project in Ecuador, which is less than 10 km from the 17-million-gold ounce Cangrejos Project.About Couloir Capital Ltd.Couloir Capital Ltd. is an investment research firm comprised of a team of veteran investment professionals dedicated to providing world-class opportunities in the natural resource exploration and development sectors along with real and alternative asset classes and strategies. Couloir Capital Ltd. is affiliated with a registered securities dealer, Couloir Capital Securities Ltd., and an investment e...

ACN Newswire

CyberVein’s CROSS NFT Issuance Platform Goes Live

indie 26 10 月

3 minutes

SHANGHAI, Oct 26, 2020 - (ACN Newswire) - CyberVein, the next generation big data and analytics company, announced another major technological breakthrough during its Third Anniversary and a Re-branding Conference in Shanghai today. The technology company has piloted the first-of-a-kind decentralized non-fungible token (NFT) issuance platform, entitled CROSS.With Data Analytics and Valuation Engine (DAVE), which enables data-driven and technology companies to utilize their resources more efficiently, the CyberVein team unveiled CROSS' NFT auction functionality during the Renaissance Conference - a celebration of CyberVein's three-year-long journey of technological achievements."During the last three years, CyberVein has continued to develop new technologies, built and tested new solutions, and created a whole ecosystem with our partners," stated Jerry Ning, CyberVein's China Operations Director, who's covering the company's activities. He continued: "We are also ever-grateful for our international communities' support, who stood by us since 2017."CyberVein's Cutting-Edge TechnologyThe unveiling of CROSS - the world's first big data-backed NFT issuance platform will garner support f...

ACN Newswire

Raffles Financial Announces Strategic Cooperation with Shanghai Lingang Free Trade Zone Technology Hub

indie 26 10 月

4 minutes

SINGAPORE, Oct 26, 2020 - (ACN Newswire) - Raffles Financial Group Limited (CSE: RICH) (FSE: 4VO) (OTC: RAFFF) today announced that its wholly owned subsidiary Raffles Financial Private Limited ("Raffles") has entered into a 3-Year Strategic Cooperation Agreement (the "Agreement") with Shanghai Lingang Technology Entrepreneurship Center Co., Ltd. ("Lingang") on October 22, 2020 (the "Cooperation").Raffles, equipped with professional background and experience in corporate finance, will support Lingang in building an incubation centre for fast-growing tech firms with leading disruptive technologies. Raffles' role is to assist in screening, inviting, coaching, developing "mega unicorn potential" companies with the aim to secure funding via public listing on major stock exchanges worldwide."Lingang has 17 hubs, hosting more than 20,000 high-tech firms, spread across the key provinces in China and Raffles' mandate is to provide these and future hubs with the full suite of Raffles Financial solutions including bespoke services designed for Lingang like the Unicorn Acceleration Program," explained Dr. Charlie In, Chairman of Raffles.Raffles will also provide the Lingang companies with adv...

ACN Newswire

kasko2go Open Source Solution Supports Profitability of European Auto Insurance

indie 26 10 月

4 minutes

ZUG, SWITZERLAND, Oct 26, 2020 - (ACN Newswire) - Genadi Man, CEO of kasko2go, has announced that his company's advanced open source solution would be made available free of charge, to reduce the dramatic losses in the car insurance industry with a high-tech open source product. Speaking at this year's telematics trade fair (Leipzig, Germany, 6-7 October), kasko2go said it aims to make the business model of Swiss and foreign insurers "significantly more profitable"Genadi Man, CEO of kasko2gokasko2go open source solutionkasko2go has been developed and tested on more than 100,000 drivers in Europe. In Switzerland the software has been on the market for almost two years. The decision is to give the 900 European and Swiss motor vehicle insurance companies free access to telematics technology, enabling them to create Usage-Based-Insurance (UBI) products without high investment costs. kasko2go is aiming at real change and optimisation in the market.Potential to be developedThe European motor insurance market has immense potential with revenues from motor insurance premiums of 135.3 billion euros in 2016. In the same year, however, 103.5 billion euros were also paid out in insurance claim...

ACN Newswire

Endowus launches Fund Smart for Singapore investors

indie 26 10 月

5 minutes

SINGAPORE, Oct 26, 2020 - (ACN Newswire) - Endowus.com, Singapore's leading MAS-licensed digital wealth management platform and the first and only digital advisor for the Central Provident Fund (CPF), has announced the launch of their new investment solution - Fund Smart. Singapore investors can now build investment portfolios from a selection of institutional share-class and trailer-fee free funds curated by the Endowus Investment Office, led by Samuel Rhee, Chairman & Chief Investment Officer at Endowus. This new solution gives investors the ability to customise their fund allocations, analyse the historical and projected performance, as well as look-through the underlying exposure and total costs across the selected funds. It also provides real time advice to investors on the suitability of the portfolio they have created against their financial needs. Similar to existing Endowus investment offerings, Fund Smart has no sales fees, no transaction fees, no lock-ups and 100% trailer fee rebates. Endowus has also built in automated rebalancing and regular savings plans capabilities to improve the client investment experience.Endowus launched a market survey to better understand ...

JCN Newswire

Eisai and Cogstate Expand Agreement for Global Development and Commercialization of Digital Cognitive Assessment Technologies

ruth 26 10 月

5 minutes

TOKYO, Oct 26, 2020 - (JCN Newswire) - Eisai Co., Ltd. and Cogstate, Ltd. announced today that the companies have entered into a collaboration whereby Eisai has secured the global development rights and exclusive commercialization rights of all cognitive function tests developed by Cogstate, including the "Cogstate Brief BatteryTM" (CBB) for use in healthcare and other markets. This global licensing deal is an expansion of an existing partnership executed in August 2019 whereby Eisai secured exclusive development and commercialization rights in Japan for all cognitive function tests developed by Cogstate, including the CBB. Both companies plan to proceed with development globally of CBB as a tool for individuals to self-assess brain performance to support healthy lifestyle choices and preventative measures in daily life, as well as a medical device to aid healthcare professionals in clinical diagnosis decisions. Developed by Cogstate, the CBB is a scientifically validated digital tool that enables cognitive function self-checks and consists of four tests evaluating psychomotor function, attention, learning and memory, and working memory. In the United States, Europe, Australia, New...

ACN Newswire

KFC Indonesia Presents Naughty by Nature, The First Lifestyle-dining and Salad Bar

indie 26 10 月

4 minutes

JAKARTA, Oct 26, 2020 - (ACN Newswire) - KFC Indonesia presents Naughty by Nature, a lifestyle dining and salad bar restaurant which is a breakthrough originally concepted by KFC Indonesia. Naughty by Nature which is located at Jalan Senopati no. 24A South Jakarta was officially opened for public since Friday, October 16, 2020, in coincide with KFC Indonesia's 41st anniversary. Green lifestyle trends among urbanites and culinary trends which always evolve along with times and technology developement become the inspiration for KFC Indonesia to keep innovating and offering different dining experiences. Naughty by Nature offers exciting new way to enjoy salads and vegetables, by combining it with KFC's signature chicken as the protein.Naughty by Nature aims to fulfill consumers who are cravings for salad whilst still want to consume other foods that are more fulfilling as well. Naughty by Nature's signature menu is Meal Market Platter, where consumers can freely combine various choices of KFC chicken such as Grilled Chicken, O.R Chicken, Hot and Crispy, and Chicken Skin as the protein with a wide selection of vegetables ranging from fresh vegetables such as kale caesar, sweet potato s...

ACN Newswire

Building Environmental Awareness through Religious Leaders Training on Peatland and Conservation

indie 26 10 月

4 minutes

Seruyan, C Kalimantan, INDONESIA, Oct 26, 2020 - (ACN Newswire) - In this modern world, all humankind has been affected by the impact of the global climate crisis. Not only facing the impact of the Covid-19 Pandemic, we also have to deal with floods and forest fires currently occurring in our region.Scientists have given extensive warning regarding the effects of climate change on our planet, however collective action to hinder the climate crisis is largely considered to be too slow.At the Rimba Raya Biodiversity Project, we have made concerted efforts to play a leading role in mitigating the damage done to the environment in our region through the introduction of various initiatives, including a spiritual approach to change community behaviour and to engage them by encouraging active involvement and inclusion in all efforts taken to preserve the environment and to minimize damage.Rimba Raya empowers local community members to play a role in protecting and conserving the peat forest with a long-term philosophy of 'community for healthy forests and climate'. The project aims to consistently work towards achieving the UN's SDGs, both within the project area and the bordering villages...

ACN Newswire

Riyad Bank signs acquiring agreement with JCB for local acceptance in the Kingdom of Saudi Arabia

indie 26 10 月

4 minutes

Riyadh & Tokyo, Oct 26, 2020 - (ACN Newswire) - Riyad Bank, a listed company on the Saudi Arabia Stock Exchange in the Kingdom of Saudi Arabia, and JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., announced that Riyad Bank had signed a partnership agreement with JCBI to enable the acceptance of JCB Cards at all Point of Sale systems, online and ATMs throughout the Kingdom of Saudi Arabia.As part of a push to make the Kingdom a cashless society and support for financial inclusion that is both in line with the aims of the Saudi Vision 2030, this partnership will enable JCB Cardholders to use JCB Cards through Riyad Banks's network for Point of Sale and ATMs across Saudi Arabia, thereby providing greater convenience for JCB's globally increasing cardholders in Islamic markets such as Bangladesh, Bahrain, India, Indonesia, and Pakistan."I am delighted to announce this partnership in consideration of the Vision 2030 and the ever-closer relationship between Saudi Arabia and Japan." Mr. Yoshiki Kaneko, President & COO of JCB International Co, Ltd. said, "Along with the introduction of the tourist visa program last year, which offers visas to c...

JCN Newswire

NEC and Realeyes Jointly Develop Emotion Analysis Service in Support of Video Communications

ruth 26 10 月

4 minutes

TOKYO, Oct 26, 2020 - (JCN Newswire) - NEC Corporation (NEC; TSE: 6701) and Realeyes have jointly developed a new emotion analysis service that combines NEC's biometric identification and video analytics technologies with Realeyes' emotion analysis technology. This is part of a collaboration announced in July 2020, and NEC will launch this service in January 2021. NEC aims to capture top share of the global emotion analysis service market, which is estimated to be worth 360 billion yen (3.4 billion USD)(1).Due to the impact of COVID-19, video communications have become more common in our daily lives. However, there are many challenges to non-face-to-face communications, such as understanding the intent of other parties and fully grasping their reactions. As a result, user stress is becoming a more important issue.The new service works in coordination with video communication tools on PCs and smartphones to analyze user emotions from their facial expressions, only with their full consent(2) and due consideration for privacy.Realeyes' emotion analysis technology, which has been deployed for more than 180 customers worldwide, analyzes user interest and attention based on video communi...

SeaPRwire

Smooth start to Singapore’s first pre-event Covid-19 screening

aseanpr 26 10 月

5 minutes

SINGAPORE - The opening of Singapore International Energy Week (SIEW) 2020 on Monday (Oct 26) saw the first ever pre-event Covid-19 swabbing taking place. A pilot run of pre-event testing using Antigen Rapid Tests (ART) was earlier announced by the multi-ministry task force on Oct 20. At the time, Health Minister Gan Kim Yong said that a successful pilot run might contribute towards a loosening of group size caps for social gatherings. But he cautioned that the tests, which are less sensitive than the Polymerase Chain Reaction (PCR) tests used conventionally, may not be able to catch every single Covid-19 case and that safe distancing measures would still need to be observed. When The Straits Times arrived at the Sands Expo and Convention Centre, where SIEW 2020 is being held, on Monday morning, there were no long queues or crowds typically associated with Mice (Meetings, Incentives, Conventions and Exhibitions) events. Signs were present on various levels at the centre reminding participants to download the TraceTogether app. TraceTogether tokens were provided free of charge at the entrance to the hall where the event was being held. The Straits Times was told that participants we...

ACN Newswire

Endowus launches Fund Smart for Singapore investors: Build customisable portfolios with direct access to curated institutional best-in-class funds from the world’s leading asset managers

indie 26 10 月

5 minutes

ACN Newswire

Global brokerage firm Tiger Brokers uncovers Singaporean Gen Zs’ penchant for globally diverse and long-term technology stocks

indie 26 10 月

8 minutes

SINGAPORE, Oct 26, 2020 - (ACN Newswire) - Xiaomi-backed global brokerage firm Tiger Brokers shared insights around the investment behaviour of Generation Z investors (aged between 18 to 24 years old), analysing about 100,000 Generation Z investors who are trading on Tiger Brokers' platform during the span of 2015 to 2020. Gen Z makes up 15% of the company's current 900,000+ customers worldwide; and 30% of Singapore's total customers since the launch of Tiger Trade app in February 2020. The findings for the Singapore sample are in line with the overall findings.The analysis showed that 45% of Gen Z investors prefers long-term stocks like Apple, Boeing, and Carnival, 35% real estate investment trusts (REITs) and exchange traded funds (ETFs) across United States, Hong Kong and Singapore; 10% are investing in high volatility stocks, such as Afterpay, Kodak, and Vaccinex and 10% in options, based on reports and business forecasts. For Q3 2020, the most traded stocks by Gen Z in Singapore are Tesla, Apple, NIO and MedTech International.Wu Tianhua, Group CEO of Tiger Brokers, said, "Gen Z investors tend to gear towards creating a globally diverse investment portfolio. Since 2015, we have...

SeaPRwire

S’pore to import electricity from Malaysia in pilot trial over 2 years

aseanpr 26 10 月

5 minutes

SINGAPORE - The little red dot wants a greener energy mix, and is taking multiple steps to achieve this - from an electricity import pilot with Malaysia to soaking up more sunshine at home and investing in research on emerging low-carbon technologies. Minister for Trade and Industry Chan Chun Sing on Monday (Oct 26) laid out the steps that Singapore will take to be a "bright green spark" for the world - a place where ideas and applications can be an inspiration and help to create more sustainable and higher quality living environments. As part of its plans, Singapore hopes to tap green energy from around the region through regional power grids. The groundwork for this will be laid through an electricity import pilot with Malaysia over two years. "We will be kicking this off with 100 megawatts of electricity imports over a trial period of two years," said Mr Chan. This will make up about 1.5 per cent of Singapore’s peak electricity demand. "This (trial) can help us to access clean energy from regional countries and improve our energy resilience. We have been working closely with Malaysia and are thankful for their strong support," Mr Chan said in his opening remarks at the Singapore...

SeaPRwire

Asia shares make guarded gains as Covid-19 cases breaks new records

elean 26 10 月

3 minutes

SYDNEY (REUTERS) - Global shares got off to a cautious start on Monday (Oct 26) as surging coronavirus cases in Europe and the United states threaten the economic outlook, even as growth in China provides some support to Asia. The United States has seen its highest ever number of new Covid-19 cases in the past two days, while France also set unwanted case records and Spain announced a state of emergency. That combined with no clear progress on a US stimulus package to pull S&P 500 futures down 0.3 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 per cent, but remained short of its recent 31-month peak. Japan's Nikkei rose 0.2 per cent, and South Korea's main index was up 0.4 per cent. China's top leaders will chart the country's economic course for 2021-2025 at a meeting starting on Monday, seeking to balance growth and reforms amid an uncertain global outlook and deepening tensions with the United States. A packed week for monetary policy sees three major central banks hold meetings. The Bank of Canada and Bank of Japan are expected to hold fire for now, while the market assumes the European Central Bank will sound cautious on inflation and growth ...

SeaPRwire

Examining the impact of the US election on investment portfolios

elean 26 10 月

1 minute

SINGAPORE - With barely a week to go before the United States presidential elections, markets are already feverishly positioning themselves for the outcome. If the polls are to be trusted - a big if given how far off the mark political polls have been over the past five years - a Joe Biden victory is the most likely. Most polls give the former US vice president a six to 10 point lead over President Donald Trump. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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