The anticipation was exceptionally high before the release of the core personal consumption expenditures (PCE) price index data, a crucial inflation measure closely monitored by the U.S. Federal Reserve. The data, released on Thursday, revealed that the yearly inflation growth rate was the lowest it had been in almost three years, providing some relief to…
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Industry experts anticipate that under Simoes' leadership, previously an executive at Santander and HSBC, the FTSE 100 company may increase its focus on pension investments and international expansion. In a strategic shift, L&G has opted for the services of the investment banking firm Robey Warshaw, noted for its partnership with former British chancellor George Osborne,…
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Apple is believed to have had 2,000 employees working on the EV project at its height, but has never officially confirmed how far it has got with it. It has now been reported that Apple is still years away from producing a car, which has led to the firm pulling the plug to concentrate on…
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The ride-hailing organisation’s financial results, however, improved with Khosrowshahi at the helm. Before joining Uber, he headed Expedia Group, Inc. (EXPE) and reportedly received the most lucrative salary package in the S&P 500. Khosrowshahi joined Uber in 2017. Based on information from the Financial Times, Uber indicated in a recent filing that its CEO met…
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The organisation’s annual revenue of $59.38bn came in just under the Wall Street predictions of $60.52bn. Impacted by its beer sales, which declined by 3.6%, Q4 volumes dropped by 2.6%. US results suffered as the company continues to struggle under the yoke of the marketing ploy involving transgender activist Dylan Mulvaney. Monday, 4 March 2024…
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Filings from earlier this week revealed that the job cuts would affect 239 staff members from its primary banking division, 44 from its broker-dealer segment, and three from its technology department. In January, Citigroup announced plans to eliminate 20,000 jobs over the forthcoming two years, a decision that came in the wake of what it…
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The complaint, brought forward by the Philippine Movement for Climate Justice, Inclusive Development International (IDI), Recourse, and BankTrack, alleges that Standard Chartered's financial activities have infringed upon the rights of the local populations. They urge the bank to compensate those impacted and enhance its governance policies related to such matters. The communities in question have…
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The S&P 500 gained its last 1,000 points steadily over a couple of years. It finally broke the 5,000 barrier earlier this month after a streak of winning weeks among signs of inflation easing and a few excellent earnings reports by major companies. This has led to speculation about how long it may be until…
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On Monday, 26 February 2024, Microsoft announced it had struck a multi-year deal with Mistral AI. The US tech titan invested $16m in the French company to introduce its specific AI protocols through the Azure cloud computing platform. In its press statement, Microsoft wrote: This partnership with Microsoft enables Mistral AI with access to Azure's…
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Ever Credit Limited, a division of Kingboard Holdings (0148.HK), lodged the filing against Country Gardens with the High Court of the Hong Kong Special Administrative Region. The hearing has been scheduled for 17 May 2024. Economists believe that the petition will renew doubts about the debt management capabilities and liquidity of China’s property sector. This…
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