StanChart sets $1.5 billion buyback after 18% rise in annual profit

StanChart sets .5 billion buyback after 18% rise in annual profit

Standard Chartered Plc bank branch in Hong Kong

Bloomberg | Bloomberg | Getty Images

Standard Chartered announced on Friday a $1.5 billion share buyback and a higher earnings target, after reporting its annual profit rose 18% on the back of record growth in its wealth business and strong markets performance.

The London-based bank reported pretax profit for 2024 of $6 billion, up from $5.1 billion the year before and slightly below the $6.2 billion average of analysts’ forecasts as compiled by the bank.

StanChart also announced a final interim dividend of 28 cents per share.

The bank upgraded its 2026 return on tangible equity (RoTE) target to “approaching 13%” from the 12% estimated earlier.

Source

World

Oracle stock slips 5% on report company is seeing thin cloud margins from Nvidia chips

October 7, 2025

The Stargate AI data center under construction in Abilene, Texas, US, on Tuesday, Sept. 23, 2025. Stargate is a collaboration of OpenAI, Oracle and SoftBank, with promotional support from President Donald Trump, to build data centers and other infrastructure for artificial intelligence throughout the US. Kyle Grillot | Bloomberg | Getty Images Oracle stock slipped […]

The price of gold reached ,000 an ounce for the first time ever

World

The price of gold reached $4,000 an ounce for the first time ever

October 7, 2025

Fake gold bars piled up in Clermont-Ferrand France on March 25 2025. Romain Costaseca | Afp | Getty Images Gold prices hit $4,000 for the first time Tuesday as investors seek a safe haven from geopolitical volatility, economic uncertainty and stubborn inflation. Gold futures were last trading at $4,005.80 per ounce. Prices have gained more […]

World

WTO hikes global trade forecast for 2025 — but next year doesn’t look so good

October 7, 2025

A cargo ship sits outside of the Port of Elizabeth marine terminal seen from Bayonne, New Jersey, U.S., April 9 2025. Shannon Stapleton | Reuters The World Trade Organization on Tuesday hiked its forecast for global trade growth in 2025 but warned that the outlook for 2026 had deteriorated. In its latest “Global Trade Outlook […]