Author Archives
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Historic Bank Merger Shocks Switzerland And Employees As Well
After UBS saved Credit Suisse through a government-mediated rescue, which tarnished the nation’s long-held pride in its banking prowess, Switzerland awoke to a new era on Monday. An association of bank employees expressed its shock at the potential outcomes of… Read More ›
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IMF Is Optimistic That Sri Lanka’s Crisis-Hit Economy Will Recover As The Nation Receives A Bailout
Finally receiving approval from the IMF for a $3 billion rescue package for Sri Lanka, the island nation can now restructure its debt and expect economic growth in 2024. The IMF’s decision will allow for the immediate disbursement of a… Read More ›
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China Slashes Reserve Ratio For Banks For The First Time In 2023 To Help Economic Recovery
In order to maintain ample liquidity and support a nascent economic recovery, China’s central bank announced on Friday that it would reduce the amount of cash that banks must hold as reserves for the first time this year. Chinese leaders… Read More ›
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After SVB’s Demise, Banks Sought Record-High Amounts Of Fed Liquidity
Following the failure of Silicon Valley Bank and Signature Bank, banks requested unprecedented amounts of emergency liquidity from the Federal Reserve, which helped undo months of central bank efforts to reduce the size of its balance sheet, according to Fed… Read More ›
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Telecom Firms Of EU Exert Pressure On Big Tech For Payments For The Internet
European telecom companies want big tech in the United States to pay for the internet, but tech titans are fighting back. Tensions between European telecommunications firms and U.S. Big Tech companies have risen as telecom executives put pressure on regulators… Read More ›
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ASML And China Customers Are Haunted By The Uncertainty Surrounding New Dutch Chip Export Rules
The Dutch government has yet to define critical aspects of new restrictions on chip-technology exports to China, such as whether ASML Holding NV can service chip-printing machines already sold in the country. “Those details have yet to be worked out,”… Read More ›
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Shein, And Temu Are Locked In A Battle Over The $10 Dress Market In The United States
SHEIN, an online fast-fashion retailer, and Temu, a newer competitor, are competing for shoppers’ attention with their low-cost Chinese-made goods. Their feud is being waged not only on social media, but also in a US court. The legal squabble is… Read More ›
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Credit Suisse’s Equity Business Is Under Scrutiny Following A Revenue Drop
Credit Suisse hosted its top clients in October at the opulent Fontainebleau Miami Beach hotel, amid growing doubts that it was still in the securities trading game after a string of high-profile gaffes. Investors and trading firms from BlackRock to… Read More ›
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Lego Hopes To Expand Its China Retail Footprint In 2022
Lego said that store openings in China, as well as strong demand in Western Europe and the Americas, resulted in 17% sales growth in 2022, and that it expects to outperform the market this year. Last year, the family-owned company… Read More ›
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Japan Reported Highest Ever Current Account Deficit In January
In January, Japan recorded its largest current account deficit in history, as a combination of the global slowdown and China’s Lunar New Year holidays hampered the country’s ability to earn money through trade. The trade balance, which is part of… Read More ›
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