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Lotte Chemical Shares Hit Four-Year Low as Losses Mount Amid Bleak Outlook

Lotte Chemical Titan Holding Bhd shares fell to their lowest level since April 2020 on Thursday, with investors reacting to widening quarterly losses and an uncertain future. The company’s stock dropped by as much as 4.5 sen, or nearly 5%, to 91.5 sen , giving it a market capitalisation of RM2.13 billion . The petrochemical company faces challenges as product spreads remain under pressure due to a global supply glut , primarily from new capacity expansions in China . Analysts at TA Securities noted that Lotte Chemical is likely to stay in the red “over the next few quarters” and maintained a 'sell' rating on the stock. The company has reported quarterly losses since 2QFY2022 and is expected to continue to report losses through this year. Analysts estimate that Lotte Chemical may not return to profitability for another two years , according to Bloomberg consensus data. A significant challenge for Lotte Chemical is the squeeze in spreads between naphtha costs and polymer sel
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Yellen Highlights Growing Fraud Problem in US Banking, Treasury Turns to AI for Solutions

US Treasury Secretary Janet Yellen has raised concerns about the rising issue of fraud in the US banking system, calling it a huge and growing problem. Speaking at an event hosted by the American Bankers Association, Yellen emphasized that fraud is being seen nationwide, including a significant rise in fraudulent activities related to government checks.

To combat this issue, the Treasury Department is increasingly utilizing artificial intelligence (AI), which Yellen says has made a dramatic difference in detecting and addressing fraudulent activities within the banking system. The use of AI represents an important step forward as the department works to better identify and deal with fraud that is becoming more sophisticated and widespread.

The adoption of AI technologies in financial regulation reflects ongoing efforts to modernize how fraud is tackled across the system, ensuring that institutions can better protect themselves and their customers.

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