Category: News

March 25, 2024 BY Elizabeth Anderson

China to Stop Using Intel and AMD Chips in Government Devices

The country also wants to sidestep Windows, Microsoft Corporation’s (MSFT) widely used operating system, and other internationally produced database software. The guidelines reportedly stipulated that all government bodies above the “township level” must adapt their procurement criteria to ensure that they acquire only “safe and reliable” microchips and software. In December 2023, China’s Ministry of…

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March 25, 2024 BY Elizabeth Anderson

Retailers Offering Massive Discounts to Keep Consumers in Spending Mode

Bloomberg reports that many luxury brands are offering extreme discounts to revive consumer interest. The Frasers Group PLC (FRAS.L) bought Matches in December 2023 for £52m but placed it under administration less than three months after the acquisition. The administrators are reportedly seeking new buyers for the company. Bloomberg reported that some consumer bargains are…

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Santander bank
March 22, 2024 BY Simon Mugo

Spain’s Santander Bank Plans To Pay Over €6 Billion to Investors

The announcement suggests that Santander, the second-largest bank in the eurozone by market capitalisation, anticipates its net profit for 2024 to surpass €12 billion. The bank adheres to a 50% payout policy, evenly dividing the distribution of earnings between cash dividends and share buybacks. During the annual shareholder meeting, Santander's Executive Chair, Ana Botin, conveyed…

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BMO Financial Group Office photo
March 22, 2024 BY Simon Mugo

Canada’s BMO Launches New Investment Fund With Carlyle Group

The initiative is part of BMO Global Asset Management's broader strategy to democratise investment in private markets, which have historically been the domain of large institutional players. Engaging with private equity firms like Carlyle, known for their profound expertise in the private sector, is a tactic increasingly employed by companies aiming to enhance their investment…

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Swiss National Bank
March 22, 2024 BY Elizabeth Anderson

SNB Ends the Rate-Cut Drought

This makes it the first developed nation to cut interest rates after the COVID-19 pandemic, the fall of Credit Suisse, the onset of the war in Ukraine, and persistent inflation pressures. Switzerland’s central bank explained its decision by stating that local inflation will probably remain below 2% for the foreseeable future. Despite this announcement and…

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March 21, 2024 BY Robert Bell

Chipotle Mexican Grill Shares Boom After Split Announced

This move would see shareholders get 49 extra shares for every share held on 18 June. Their plan still needs approval from their shareholders, which will be sought at their next annual meeting which is due to be held on 6 June. The post-split CMG stock will be traded from 26 June onwards if approved.…

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March 21, 2024 BY Elizabeth Anderson

Co-Founders of Inflection AI Join Microsoft

Suleyman also co-founded DeepMind, the artificial intelligence (AI) outfit bought by Alphabet Inc’s Google (GOOG) in 2014. Industry experts believe that this move fortifies Microsoft’s reputation as an AI stalwart in big tech circles and forms part of CEO Satya Nadella’s drive to acquire top expertise. Suleyman will head Microsoft’s new consumer AI unit, while…

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