UniSuper, one of Australia’s largest pension funds, has been growing its exposure to private credit, holding roughly US$660 million in dry powder, which could be directed toward the booming asset class.

The bank is now searching for a successor to the veteran banker.

HSBC said its first-quarter net profit dropped due partly to lower net interest income and higher credit costs and announced the retirement of its CEO Noel Quinn.

The deal including roughly $2 billion of card balances could be struck by summer.

Japan’s top currency official said it was the government’s job to respond firmly to excessive movements in the currency market driven by speculators because these movements exerted a negative effect on the economy.

Despite a brutal price year, China’s large automakers are in surprisingly good shape. That means the EV price war will continue.