Due to the severe financial western sanctions on Russia over its invasion of Ukraine, Russian families withdrew $9.8 billion in foreign currency from their accounts in March, while banks slashed new corporate lending by approximately one-third, according to the coutnry’s central bank. “The… Read More ›
According to the CEO of blockchain firm Ripple, “tribalism” around bitcoin and other cryptocurrencies is dragging back the entire $2 trillion sector. “Polarization isn’t healthy in my judgement,” Ripple CEO Brad Garlinghouse said in a CNBC-hosted fireside chat at Paris… Read More ›
The International Monetary Fund said on Wednesday that rising Covid cases in China and the turmoil in Ukraine represent obstacles for Asia’s growth. “Asia is clearly facing headwinds, both from the war in Ukraine but also from the lingering effects of… Read More ›
In a statement, Michael Miebach, the CEO of Mastercard Inc said, the company will link all employee bonuses to environmental, social and corporate-governance (ESG) initiatives, in an expansion of an earlier program which was limited to its senior executives. The move… Read More ›
Jack Dorsey, who co-founded Twitter Inc, took aim at the social media company in a series of tweets, following Elon Musk’s $43 billion takeover offer. Dorsey, who incidentally is on Twitter’s board, said Twitter’s board has “consistently been the dysfunction of… Read More ›
According to a report from the New York Post, Elon Musk is willing to invest between $10 billion and $15 billion of his own money to take Twitter Inc private. Musk, Twitter’s second-biggest shareholder, has a 9.1% stake in the company…. Read More ›
A term sheet from TSMC shows that the chip giant has raised $3.5 billon in bonds for its new plant in Arizona. TSMC, the world’s largest contract chip-maker, has commenced constructing a chip plant at Arizona last year. It intends to… Read More ›
For the first time in more than a decade, Netflix Inc reported a loss citing the war in Ukraine, and fierce competition which led to a loss of subscribers; it has also forecast deeper losses ahead, marking an abrupt shift… Read More ›
In a significant development, CalPERS, the biggest U.S. public pension fund, said it will vote for a shareholder proposal to replace Warren Buffett as Berkshire Hathaway Inc’s chairman; he will however continue to remain as its CEO. In a regulatory… Read More ›
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