DBS Group Holdings Ltd., the lender that offered to buy PT Bank Danamon Indonesia for $7.2 billion, posted first-quarter profit that unexpectedly climbed 16 percent to a record on higher income from interest and trading.
DBS Group Holdings Ltd. got approval from Indonesia’s central bank to acquire a $2.75 billion stake in PT Bank Danamon Indonesia, giving Southeast Asia’s largest lender less control than it had sought.
The value of equities traded on Singapore Exchange Ltd. sunk to a two-year low last month, threatening to slow the bourse’s earnings growth, as brokerages restricted investments in so-called penny stocks after three commodity companies plunged.
Abercrombie & Fitch Co. settled an age-discrimination lawsuit brought by a former corporate jet pilot in 2010 after a judge ordered Chief Executive Officer Michael Jeffries to give a second deposition in the case.
DBS Group Holdings Ltd., Southeast Asia’s largest bank, unexpectedly posted an 11th straight increase in quarterly profit as fees, commissions and trading income rose, helping offset narrower lending margins.