UBS may cut up to a third of jobs after Credit Suisse takeover
The bank created by the UBS (UBSG.S) takeover of Credit Suisse (CSGN.S) is poised to reduce its workforce by 20-30 per cent, Swiss daily Tages-Anzeiger reported on Sunday, ...
Tesla’s price war: cheaper cars expected to drive record sales
Tesla Inc (TSLA.O) investors are waiting to see how much Elon Musk’s price cuts will pay off: the electric vehicle (EV) maker is expected this weekend to report ...
Banking crisis: Doing ‘whatever it takes’
By Maria Demertzis
The early March failure of Silicon Valley Bank (SVB) in the United States, and the sale of Credit Suisse to UBS in Switzerland are reminders of an ...
Car services groups warn of unfair competition as EU data plan stalls
Car services groups on Friday warned a stalled EU proposal to ensure fair access to valuable vehicle data could pave the way for unfair competition from US and Chinese tech ...
Norwegian wealth fund seeks Credit Suisse boardroom shake-up
Norges Bank Investment Management will vote against the re-election of Credit Suisse (CSGN.S) Chair Axel Lehmann and six other directors at the Swiss lender’s annual general meeting on ...
New York Times says it won’t pay for Twitter verified check mark
The New York Times NYT.N will not pay a monthly fee to get verified check mark status on Twitter, a spokesperson for the newspaper said hours after it lost ...
The people power being harnessed for cleaner and cheaper energy
As Europe weans itself off fossil fuels, local energy networks are tapping renewable sources to fill the gap and cut consumer bills.
By Andrew Dunne
They might look like ordinary ...
What’s better than OpenAI? Developers shop for alternatives
Microsoft-backed OpenAI is no longer the only game in town for software developers looking to capitalize on an expected $90 billion market for artificial intelligence.
Motivated by a wariness of relying ...
Synopsys spreads AI throughout its chip design tools
Synopsys Inc (SNPS.O) on Wednesday rolled out new artificial intelligence tools designed to get better results faster in the various stages of designing computing chips.
Synopsys makes software that ...
US regulator seeks sale of Silicon Valley Bank, Signature Bank portfolios
The Federal Deposit Insurance Corporation (FDIC) has retained advisers to sell the securities portfolios that the new owners of failed Silicon Valley Bank and Signature Bank rejected, according to people ...
UAE cancels licence for Russia’s sanctioned MTS Bank
The United Arab Emirates’ central bank on Friday said it will cancel the licence it granted last year to Russia’s MTS bank, which was placed under British and US ...
Britain’s digital banks need support amid banking turmoil
Britain’s digital banks will need support over the next few weeks and months to help them cope with the market fallout from the collapse of Silicon Valley Bank, a ...
Future for shock-absorbing bank debt uncertain in Credit Suisse aftermath
As the dust settles on a surprise move by Switzerland to write down $17 billion of bonds under Credit Suisse’s rescue, the market for debt designed as a shock absorber ...
In the background, Inditex heiress sets tone for Zara revamp
A year into chairing the world’s biggest fashion retailer, Marta Ortega is trying to shake up Zara owner Inditex’s fast-fashion image and draw in more aspirational shoppers, according ...
Oil down with market uncertain over US inflation, employment data
Oil prices ticked down in Asian trade on Friday as bullish sentiment about Chinese demand and potential Middle Eastern supply disruptions was tempered by uncertainty over US economic data to ...
UK economy avoids recession after growing in fourth quarter
Britain’s economy grew in the fourth quarter of last year, official data showed on Friday, with a jump of business at travel agents and state support for soaring energy ...
Turkish corporates can open lira deposit protection scheme accounts without converting FX
Turkish companies facing forex payments will be able to open lira accounts protecting against depreciation without needing to convert foreign exchange, and a central bank source said on Thursday there ...
Toyota’s global sales notch up a February record as parts shortage eases
Toyota Motor Corp (7203.T) said on Thursday that global sales hit a record for the month of February as it bounced back from severe pandemic-induced parts shortages, adding that worldwide ...
Microsoft introduces AI-powered cybersecurity assistant
Microsoft Corp (MSFT.O) on Tuesday launched a tool to help cybersecurity professionals identify breaches, threat signals and better analyze data, using OpenAI’s latest GPT-4 generative artificial intelligence model.
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Google says Microsoft’s cloud practices anti-competitive, critical of deals with rivals
Alphabet’s (GOOGL.O) Google Cloud has accused Microsoft (MSFT.O) of anti-competitive cloud computing practices and criticised imminent deals with European cloud vendors, saying these do not solve broader ...
Signs of pain as easy cash era ends are growing
The easy-cash era is over and markets are feeling the pinch from the sharpest jump in interest rate in decades.
The collapse of US-lender Silicon Valley Bank (SVB) in early ...
GSK licenses companies to make cheap copies of HIV prevention drug
British drugmaker GSK (GSK.L) has signed deals with three companies allowing them to make inexpensive generic versions of its long-acting HIV preventive medicine for use in lower-income countries, where ...
Fraud in UK public spending soars under poor oversight
Britain’s government has lost tens of billions of pounds to fraud in recent years, with most public bodies unable to grasp the scale of the problem, the independent public ...
Banking turmoil means recession fears are creeping back
The failures of US lenders Silicon Valley Bank (SVB) and Signature Bank, followed by Credit Suisse’s rescue, and the ensuing turmoil in world markets have re-ignited the recession risks ...