-- DBS Group Holdings Ltd.’s Chief Executive Officer Piyush Gupta expects another year of record profit after Singapore’s biggest lender delivered better-than-expected results thanks to strong lending and wealth fees.Treasuries Rally With Fed Not as Hawkish as Feared: Markets Wrap
DBS is the first among major Singapore banks to report results and lifted its 2024 projections despite a backdrop of the city-state’s slower-than-forecast economic growth in the first three months. Its outlook signals how tailwinds that buoyed global lenders’ income in recent years could be sustained as expectations turn to a higher-for-longer global rates environment.
-- Federal Reserve Chair Jerome Powell kept hopes alive for an interest-rate cut this year while acknowledging that a burst of inflation has reduced policymakers’ confidence that price pressures are ebbing.
-- Lululemon Athletica Inc. founder Chip Wilson pledged a chunk of his multibillion-dollar stake in the yogawear maker to secure financing from Goldman Sachs Group Inc., leveraging his biggest listed asset.