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China retaliates with tariffs as UBS reports strong profit recovery
China has announced retaliatory tariffs of 10-15% on various US imports, including liquefied natural gas and crude oil, following President Trump's new tariffs. Meanwhile, UBS reported a strong fourth-quarter profit, driven by increased trading activity, and plans to repurchase $3bn in shares. Standard Chartered appointed Maria Ramos as its new chair amid rising global trade tensions.
standard chartered targets wealthy africans to boost growth in wealth management
Standard Chartered Plc is focusing on Africa's ultra-rich to fuel growth, having increased its assets under management in the region's wealth business from $1.7 billion to $4 billion over the past three years. With over 135,000 dollar millionaires in sub-Saharan Africa, this number is projected to rise by 65% in the next decade, according to Henley & Partners and New World Wealth.
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