(RTTNews) - Asian stocks tumbled on Thursday as the price of a barrel of Brent crude oil, the international standard, briefly topped $100 a barrel on supply concerns following Iranian attacks on commercial shipping around the Strait of Hormuz. As the U.S. campaign of airstrikes in Iran entered its 13th day, there were no signs the conflict was subsiding. Iran has targeted oil fields and refineries...
(RTTNews) - Asian stocks tumbled on Thursday as the price of a barrel of Brent crude oil, the international standard, briefly topped $100 a barrel on supply concerns following Iranian attacks on commercial shipping around the Strait of Hormuz. As the U.S. campaign of airstrikes in Iran entered its 13th day, there were no signs the conflict was subsiding. Iran has targeted oil fields and refineries in Gulf Arab nations and effectively stopped cargo traffic through the narrow Strait of Hormuz in a bid to exert pressure on the United States and Isreal to end the war. Oil prices last traded up more than 4 percent in Asian trade, the dollar rose and Treasury yields increased amid tanker attacks, strikes across Lebanon, and growing fears of prolonged economic disruption. Gold prices were little changed at $5,178 an ounce. China's Shanghai Composite index slipped 0.10 percent to 4,129.10 after a volatile session. Hong Kong's Hang Seng index dipped 0.70 percent to 25,716.76 due to ongoing hostilities in the Middle East. Japanese stocks ended lower as oil and gas price volatility fueled inflation expectations. The International Energy Agency's decision to conduct its largest stockpile release failed to ease market jitters over supply disruptions caused by the shutdown of the Strait of Hormuz. The Nikkei average ended down 1.04 percent at 54,452.96, with rate-sensitive real estate stocks and financials leading losses. The broader Topix index closed 1.32 percent lower at 3,649.85. Seoul stocks ended slightly lower, with the Kospi index falling 0.48 percent to 5,583.25 as tensions continued to persist around the critical waterway south of Iran. Australian markets fell sharply after a survey showed consumer inflation expectations rose to the highest level since July 2023 in March following the RBA's 25 bps rate hike in February. As Iran uncertainty mounts, Reserve Bank of Australia deputy governor Andrew Hauser said earlier this week that the jump in the oil price will push infl...
JPMorgan Chase & Co. and UBS Group AG cut prime brokerage ties with the investment firm that was raided by authorities during a probe into alleged insider dealing in Hong Kong well before the investigation was made public, according to people familiar with the matter. The two banks stopped providing prime brokerage services to Infini Capital Management Ltd. months ago, the people said, asking not ...
JPMorgan Chase & Co. and UBS Group AG cut prime brokerage ties with the investment firm that was raided by authorities during a probe into alleged insider dealing in Hong Kong well before the investigation was made public, according to people familiar with the matter. The two banks stopped providing prime brokerage services to Infini Capital Management Ltd. months ago, the people said, asking not to be identified discussing confidential information. Together with Standard Chartered Plc, they were listed as Infini’s prime brokers in a March 2025 filing with the US Securities and Exchange Commission. It’s unclear if JPMorgan and UBS ceased to do other business with Infini, beyond prime brokerage services, and what exactly prompted the decision. Representatives for JPMorgan and UBS declined to comment. Standard Chartered and Infini didn’t immediately respond to requests for comment. Hong Kong’s financial regulators and anti-graft agency on Thursday said they had arrested eight people as part of an investigation into a HK$315 million ($40 million) insider dealing and corruption scheme involving two major brokerages and a hedge fund manager. While they didn’t mention the entities involved, people familiar with the matter said the local offices of Citic Securities Co., Guotai Junan International Holdings Ltd. and Infini were raided this week. Hong Kong Arrests Hedge Fund, Brokerage Staff in Insider Probe Infini Emerges as Sole Buyer in String of China Share Placements Hedge Fund Infini Buys Ruyi Shares, Avoids Penalty Deadline Hong Kong’s financial industry is under increasing scrutiny, in the midst of a resurgence of deal activity. Share placements and initial public offerings have surged in the past year, with first-time share sales setting a four-year high in 2025. Regulators have also warned banks over the quality of IPO applications. The investigation centers on allegations that executives at the securities firms accepted more than HK$4 million in bribes from a hedge...
LG CNS and Palantir today announced a strategic partnership emphasising AI transformation across the LG Group. The collaboration is mainly aimed at integrating Palantir’s data analytics platforms with LG CNS’s IT services to optimise AI-driven decision-making for enterprise clients. This partnership is based on the 2025 pilot project, in which Palantir deployed its software at an LG affiliate for ...
LG CNS and Palantir today announced a strategic partnership emphasising AI transformation across the LG Group. The collaboration is mainly aimed at integrating Palantir’s data analytics platforms with LG CNS’s IT services to optimise AI-driven decision-making for enterprise clients. This partnership is based on the 2025 pilot project, in which Palantir deployed its software at an LG affiliate for quality management, and it worked well. Having planned an expansion across the LG Group, the partnership was officially unveiled at Palantir’s AIPCon, where CEOs Alex Karp and Hyun Shin-gyoon joined senior executives to commemorate the announcement. The signing ceremony was led by the CEOs of both companies along with senior executives. The announcement highlights escalating demand for AI solutions as companies strive to adapt to the fast-changing technological environment. One Vision, Two Leaders, and Boundless Opportunities Palantir Technologies and LG CNS, pioneering AI giants, announced their strategic partnerships to accelerate AI transformation across the LG Group. Revealing the partnership, Ryan Taylor, the Chief Revenue Officer of Palantir, stated that the synergy between Palantir’s AI platform and LG Group’s visionary leadership will lay the foundation for AI-driven innovation. Initially, in 2025, Palantir piloted its software in one of the LG affiliates, and it delivered meaningful improvements in quality management. The companies have now planned to expand the partnership across the LG Group. This partnership is mutually beneficial as Palantir provides its Artificial Intelligence platform and Palantir Foundry that supports real-time decision making to the clients of LG CNS. This allows Palantir to expand its reach, gaining access to large corporate clients and exhibiting efficiency by tailoring software to fulfill the varied real-world applications. The collaboration is instrumental for LG CNS to drive AI innovation using Palantir’s capabilities and to gain a com...
But he said: "I think it reflects progress being made by the new leadership team of the partnership, so it is very reassuring that they are going in the right direction."
But he said: "I think it reflects progress being made by the new leadership team of the partnership, so it is very reassuring that they are going in the right direction."