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UBS cuts nearly 70% of Credit Suisse researchers in Hong Kong

UBS cuts nearly 70% of Credit Suisse researchers in Hong Kong
By Olya Smith,  1 min read

UBS cuts nearly 70% of Credit Suisse researchers in Hong Kong. Two people said that as the two Swiss banking titans integrate operations, UBS (UBSG.S) has slashed 70% of Credit Suisse’s securities research unit’s Hong Kong personnel. In March, Swiss authorities rushed UBS’ buyout of Credit Suisse, the largest bank merger since the 2008 global...  Read more

Latest Posts

Russian missiles target Ukrainian energy facilities before winter - Kyiv
By Edem Maxwell,  2 min read

Russian missiles target Ukrainian energy facilities before winter – Kyiv. Ukraine said Russia unleashed its heaviest missile attack in weeks on Kyiv and across Ukraine on Thursday, hurting at least 18 people, damaging energy installations, and cutting power. Five western, central, and eastern Ukrainian areas reported partial power outages, recalling last winter’s Russian bombing strike...  Read more

Syria's Assad in China, seeks exit from diplomatic isolation
By Edem Maxwell,  2 min read

Syria’s Assad in China seeks exit from diplomatic isolation. Bashar al-Assad landed in Hangzhou, China, for his first visit since 2004, seeking to overcome more than a decade of diplomatic isolation due to Western sanctions. Assad came on an Air China plane in heavy fog, which Chinese state media said “added to the atmosphere of...  Read more

China exported no germanium, gallium in Aug due to export curbs
By Sidney Schevchenko,  2 min read

Due to new export restrictions on the two chipmaking metals, China’s exports of germanium and gallium goods in August dropped to zero, according to customs data released on Wednesday. Compared to 8.63 metric tons in July, when quantities more than quadrupled from June as foreign purchasers scrambled to lock in supply before the limitations, Beijing...  Read more

A Hungarian politician flags a possible delay for Sweden's NATO bid
By Edem Maxwell,  1 min read

A Hungarian politician flags a possible delay for Sweden’s NATO bid. The Speaker of Hungary’s parliament stated on local television late on Sunday that his country is unsure whether or not it is required to approve Sweden’s application to join NATO. This might potentially foreshadow further delays in the process. Since July 2022, the ratification...  Read more

China's Wang Yi visits Russia ahead of possible Xi-Putin meeting
By Edem Maxwell,  2 min read

Starting Monday, China’s top diplomat Wang Yi will go to Russia four days ahead of a potential historic visit by Russian President Vladimir Putin to Beijing in October. According to a statement released by the Chinese foreign ministry, Wang, who oversees both the foreign ministry and the ruling Communist Party’s foreign affairs office, will meet...  Read more

Kim invites Putin to North Korea
By Edem Maxwell,  3 min read

Kim Jong Un asked Putin to visit North Korea at a rare encounter, raising U.S. worries that a revitalized Moscow-Pyongyang axis may strengthen Russia’s military in Ukraine and supply Kim with crucial missile technology. North Korean official news agency KCNA said that Putin accepted the offer, although the Kremlin did not confirm. Putin has hardly...  Read more

China denounces Europe probe of EVs as 'naked protectionist' act
By Edem Maxwell,  1 min read

On Thursday, the Chinese Ministry of Commerce issued a warning that the European Commission’s probe into Chinese electric cars that are thought to have benefitted from state subsidies would have a “negative” effect on economic and trade relations between the two countries. The inquiry initiated on Wednesday will examine whether or not it is necessary...  Read more

China says it has not banned the purchase, or use of foreign phone brands
By Olya Smith,  1 min read

China says it has not banned the purchase or use of foreign phone brands. In reaction to media allegations that certain government organizations and enterprises had directed personnel to cease using Apple’s iPhones at work, the Chinese foreign ministry stated Wednesday that China has not banned foreign phone brands. “China has not issued laws, regulations...  Read more

Russia voices annoyance with both Armenia and Azerbaijan
By Edem Maxwell,  1 min read

On Wednesday, Foreign Ministry spokeswoman Maria Zakharova said Russia objected to Azerbaijan over statements it made concerning weekend regional elections in Ukraine claimed by Moscow. She also accused Armenia of making “unacceptable and harmful” remarks that hurt peace talks between Armenia and Azerbaijan over Nagorno-Karabakh. Russia’s ties with both nations, which have fought two wars...  Read more

Kim Jong Un meets Putin in Russia as missiles launch from North Korea
By Edem Maxwell,  4 min read

On Wednesday, Russian President Vladimir Putin and North Korean leader Kim Jong Un met at a cosmodrome in Russia to discuss Pyongyang’s satellite program. Kim stated Moscow had his complete support in its “sacred fight” against the West. Putin said the two leaders would address “all issues,” including procuring North Korean weaponry and ammunition to...  Read more

France says controversy over Morocco's aid misplaced
By Edem Maxwell,  2 min read

On Monday, the Minister of Foreign Affairs of France said it was up to Morocco to decide whether or not to seek French assistance in coping with the aftermath of the worst earthquake to hit the country in more than six decades. She also stated that France was ready to assist if it was requested....  Read more

Stocks retreat, US yields advance, and the dollar strengthens on hawkish Fed
By Olya Smith,  2 min read

Asian stocks followed Wall Street’s lead on Thursday, falling as investors perceived the Fed’s recent policy pronouncements as indicating higher-for-longer interest rates. MSCI’s broadest Asia-Pacific share index outside Japan (.MIAPJ0000PUS) fell 0.4% by early afternoon Hong Kong time. Japanese Nikkei fell 0.6%. Chinese blue-chip (.CSI300) fell 0.6%, while Hong Kong’s benchmark fell 1.3%. Two-year U.S....  Read more

Israeli-Palestinian violence surges ahead of Netanyahu-Biden meeting
By Edem Maxwell,  2 min read

Israeli-Palestinian violence surges ahead of Netanyahu-Biden meeting. During a raid on Wednesday in the occupied West Bank, Israeli troops were claimed to have shot and killed a Palestinian teenager, aged 19, according to medical personnel and local people. This came as violence increased during the first meeting between Israeli Prime Minister Benjamin Netanyahu and United...  Read more

Hunter Biden will plead not guilty to gun charges
By Sidney Schevchenko,  1 min read

Hunter Biden, age 53, is at the heart of a political storm as House Republicans conduct an impeachment inquiry against his father. The impeachment inquiry is centered on alleged ties between Hunter Biden’s business activities and his father’s policies during the time that Hunter Biden’s father served as vice president from 2009 to 2017. He...  Read more

Australia's CBA, Tesla team up to support EV purchases
By Isiah Goldmann,  2 min read

On Wednesday, the Commonwealth Bank of Australia (CBA.AX) announced a partnership with Tesla (TSLA.O) to finance EV purchases. Customers can apply for personal loans through the bank straight from Tesla’s website, CBA stated, with a 5.49% annual interest rate. The lender said the low-interest rate will be accessible to customers who finance electric and hybrid...  Read more

War crimes tribunal (ICC) says it has been hacked
By Brittany De La Cruz,  2 min read

On Tuesday, the International Criminal Court (ICC) announced a computer system compromise at one of the world’s most prominent international institutions that handles sensitive war crimes data. Late last week, the ICC identified anomalous activity on its computer network, prompting an ongoing reaction. A spokesperson would not comment on the hack’s severity, resolution, or perpetrator....  Read more

Vietnam PM courts U.S. companies, seeks investment in chip sector
By Brittany De La Cruz,  1 min read

Prime Minister Pham Minh Chinh visited Nvidia (NVDA.O) and Synopsys (SNPS.O) headquarters to encourage them and other U.S. tech companies to invest in Vietnam’s semiconductor industry. “Vietnam is willing to open its doors to all investors to invest and do business there,” Chinh told a San Francisco technology industry gathering during his US tour, according...  Read more

U.S. legislator asks TikTok CEO to explain kid-safety measures
By Staff Reporter,  1 min read

A U.S. House subcommittee chair wants TikTok CEO Shou Zi Chew to answer questions next week on the popular Chinese-owned video app’s attempts to safeguard minors from harmful content and exploitation. Chew will testify before the House Energy and Commerce Committee on March 23 for the first time. “We need to know what efforts the...  Read more

Business

An Australian tribunal pushes Chevron and LNG unions to resolve wage fight
By Gary Baker,  3 min read

On Thursday, Australia’s industrial arbitration offered procedures to Chevron (CVX.N) and unions to resolve a long-running dispute over wages and conditions at two liquefied natural gas (LNG) projects. These strikes have roiled world gas markets and have caused significant disruption. The Fair Work Commission (FWC), which has the jurisdiction to impose a settlement, stated that...  Read more

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Related posts

EU antitrust regulators set Oct. 23 deadline for Arcelik, Whirlpool deal
By Sidney Schevchenko,  1 min read

EU antitrust regulators set Oct. 23 deadline for Arcelik, Whirlpool deal. According to a filing that the European Commission submitted on Thursday, EU antitrust regulators will make their decision on whether or not to clear the proposed takeover of Whirlpool’s (WHR.N) European domestic appliances unit by Turkish domestic appliance producer Arcelik (ARCLK.IS) by October 23....  Read more

New Zealand's economy is expanding faster than expected
By Isiah Goldmann,  2 min read

New Zealand’s economy increased more than predicted in the second quarter, driven by a services sector pick-up, avoiding a technical recession. This will aid the government, which is under pressure for its economic management, ahead of an election. The central bank, which requires slower growth to reduce inflation, may worry about the stronger-than-expected expansion, which...  Read more

GDP p.c.

Real Gross Domestic Product per Capita

60,422.000.57%

U.S. 10 Yr

10-Year Treasury Constant Maturity Rate

3.532.49%

S&P 500

Standard and Poor's 500

3,991.050.38%

DJIA

Dow Jones Industrial Average

32,800.350%

Editor's Picks

5G Technology: The Future of Communication
By Gary Baker,  9 min read

5G Technology: The Future of Communication Background about 5G technologies Since 5G technology is gradually entering our daily lives and the phrase is used more frequently, we deemed it necessary to explain what it truly is to you.   The beginning of 1G in 1979 The 1G, or first “Generation,” mobile network was the first...  Read more

THE BENEFITS OF MINDFULNESS IN BUSINESS: HOW TO CULTIVATE A CALM AND FOCUSED MINDSET
By Gary Baker,  9 min read

THE BENEFITS OF MINDFULNESS IN BUSINESS: HOW TO CULTIVATE A CALM AND FOCUSED MINDSET Unlocking the Power of the Mind: The Surprising Benefits of Mindfulness in Business” – Discover how cultivating a calm and focused mindset through mindfulness can revolutionize your professional life. KEY TAKEAWAYS Mindfulness assists individuals in being calm and focused, leading to...  Read more

People Profiles

INVESTMENT STRATEGIES FOR BEGINNERS: A STEP BY STEP GUIDE TO BUILDING A STRONG PORTFOLIO.

INVESTMENT STRATEGIES FOR BEGINNERS: A STEP BY STEP GUIDE TO BUILDING A STRONG PORTFOLIO
By Staff Contributor,  11 min read

INVESTMENT STRATEGIES FOR BEGINNERS: A STEP BY STEP GUIDE TO BUILDING A STRONG PORTFOLIO. Building wealth for your future starts with investing today! Learn the essential steps to create a strong investment portfolio as a beginner. KEY TAKEAWAYS ● Setting investment objectives and developing a sound investment strategy is essential for novices. ● Diversifying your...  Read more

Videos

Toshiba says $14 billion takeover by JIP is on

Thu, 2023-Sep-21 20:34:10

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US stocks end higher ahead of inflation, jobs data

Wed, 2023-Sep-20 20:32:32

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A publication of iConcept Media Group, the BIZNOB is a daily business journal, covering business news with a focus on emerging leaders but not limited to technology, entertainment, finance, politics, and lifestyle. BIZNOB’s mission is to deliver news and information that matters among business professionals. The publication strives to be on the homepage of the world’s business community.

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Stocks slide as data stokes inflation, rate fears

Tue, 2023-Sep-19 20:32:35

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Stocks end mixed as Fed signals future rate hikes

Mon, 2023-Sep-18 20:32:30

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A publication of iConcept Media Group, the BIZNOB is a daily business journal, covering business news with a focus on emerging leaders but not limited to technology, entertainment, finance, politics, and lifestyle. BIZNOB’s mission is to deliver news and information that matters among business professionals. The publication strives to be on the homepage of the world’s business community.

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Berlin signs deal with Intel to develop chip plant

Sun, 2023-Sep-17 20:33:21

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A publication of iConcept Media Group, the BIZNOB is a daily business journal, covering business news with a focus on emerging leaders but not limited to technology, entertainment, finance, politics, and lifestyle. BIZNOB’s mission is to deliver news and information that matters among business professionals. The publication strives to be on the homepage of the world’s business community.

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Wall St ends lower as chipmakers, megacaps slide

Sat, 2023-Sep-16 20:32:32

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Wall Street ends higher on economic data

Fri, 2023-Sep-15 20:32:27

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See More Videos

Technology

OpenAI unveils Dall-E 3, latest version of its text-to-image tool
By Brittany De La Cruz,  1 min read

On Thursday, OpenAI released Dall-E 3, its latest text-to-image tool that employs its popular AI chatbot ChatGPT to fill in prompts. The business announced that ChatGPT Plus and Enterprise clients can access Dall-E 3 through API in October. ChatGPT lets users request images and change prompts. “DALL-E 3 can translate nuanced requests into extremely detailed...  Read more

Telefonica may seek damages in event of Huawei curbs in Germany
By Brittany De La Cruz,  2 min read

Telefonica may seek damages in the event of Huawei curbs in Germany. Telefonica Deutschland said Wednesday it would seek damages from the German government and legal action if Berlin imposed Huawei (HWT.UL) restrictions that required network improvements. Telefonica Deutschland told Reuters that it was in constant contact with the German government and highlighted the importance...  Read more

Enterpreneurship

Advertising Budget: Definition, Ways To Set a Budget, and Goals
By Gary Baker,  3 min read

What Is the Cost of Advertising? An estimate of a company’s promotional costs for a specific period is referred to as an advertising budget. The amount of money a business is prepared to set aside to achieve its marketing goals is more crucial. Knowing the advertising budget A company’s advertising budget is a component of...  Read more

Adverse Possession: Legal Definition and Requirements
By Olya Smith,  6 min read

Adverse Possession: What Is It? The legal doctrine known as “adverse possession” gives title to someone who resides on or has another person’s property as long as a few requirements are satisfied, such as whether they violate the true owner’s rights and whether they have had continuous possession of the property, the possessor is granted...  Read more

What Is an Advanced Internal Rating-Based (AIRB) Approach?
By Isiah Goldmann,  3 min read

Advanced Internal Rating-Based (AIRB): What Is It? The advanced internal rating-based (AIRB) methodology for credit risk measurement requires a financial institution to calculate each risk factor internally. An institution’s capital requirements and credit risk can be reduced using an advanced internal rating-based (AIRB). The advanced technique evaluates the risk of default using loss given default...  Read more

Advance Payment: What It Is, How It Works, Examples
By Isiah Goldmann,  3 min read

What Is a Payment in Advance? A payment known as an advance payment is made before the due date, for example, by paying for a good or service before you receive it. Sometimes, merchants want upfront payments as insurance against nonpayment or to cover the seller’s out-of-pocket expenses for providing the good or service. Advance...  Read more

Finance

Dollar holds fast, yen in shaky territory ahead of FOMC
By Olya Smith,  2 min read

The yen continued to hover near a 10-month low on Wednesday, as the dollar held steady against a basket of peers ahead of the Federal Reserve’s much-awaited rate announcement later in the day. As traders awaited the Federal Reserve’s interest rate announcement, the U.S. dollar index, which compares the dollar to a basket of competitors,...  Read more

Indian stocks slip as IT weighs; cenbank meetings eyed
By Olya Smith,  1 min read

Indian stocks slip as IT weighs; cenbank meetings eyed. After a record run, India’s key stock indexes dipped on Monday as investors digested Chinese economic data and anticipated policy choices from top central banks, including the U.S. Federal Reserve. The Nifty 50 (.NSEI) dipped 0.09% to 20,174.4 points at 9:58 a.m. IST, while the Sensex...  Read more

Citigroup starts layoff talks after management overhaul, sources say
By Olya Smith,  2 min read

According to insiders, Citigroup (C.N.) is reorganizing, and compliance and risk management support personnel will likely lose their jobs. One person claimed technology personnel working on overlapping functions could be laid off. According to individuals who requested anonymity, Citi management is already considering layoffs with employees. One insider stated departure meetings were beginning. The talks...  Read more

Citigroup CEO sets sweeping management changes, job cuts
By Olya Smith,  2 min read

Citigroup (C.N) will reorganize to give CEO Jane Fraser more influence and raise its stock by cutting staff and removing a management layer. The bank’s five division chiefs will report directly to the CEO, while regional leadership positions outside North America will be eliminated. Job losses are likely, although their number and cost are unknown....  Read more

Economy

UK headquarters planned for advanced jet fighter project of Japan, Britain, and Italy -sources
By Olya Smith,  2 min read

Four Japanese sources stated Japan, Britain, and Italy would base their next-generation fighter program in Britain, putting London at the forefront of a collaboration that might expand. After Britain and Japan agreed to consolidate their fighter operations in December, the three countries formed the Global Combat Air Programme (GCAP) to deploy an upgraded aircraft by...  Read more

Major Gulf markets little changed ahead of Fed's decision
By Olya Smith,  1 min read

The Gulf’s major stock markets were unchanged early Wednesday before the Fed’s interest rate decision. Investors are watching a lot of central bank interest rate announcements this week to analyze economic growth and gasoline consumption. The U.S. central bank will likely hold interest rates, but its policy path will be scrutinized. The Fed usually influences...  Read more

China keeps benchmark rates unchanged as economy finds footing
By Olya Smith,  2 min read

China held benchmark lending rates constant at a monthly fixing on Wednesday as economic stabilization and a weaker yuan decreased the need for quick monetary easing. The world’s second-largest economy was recovering after a dramatic contraction, but yuan depreciation decreased the need for aggressive interest rate cuts. The one-year LPR remained at 3.45% and the...  Read more

Swedish budget sets out tax cuts as defence spending ramps up
By Olya Smith,  1 min read

Swedish budget sets out tax cuts as defense spending ramps up. On Wednesday, Sweden’s 2024 budget pledged 39 billion crowns ($3.5 billion) in tax savings and more money for welfare, defense, and the criminal justice system but stressed spending had to be controlled to control inflation. Since entering power last year, the right-of-center coalition has...  Read more

Stocks struggle as the oil surge sets the stage for a hawkish Fed
By Olya Smith,  3 min read

Stocks struggle as oil surge sets the stage for hawkish Fed. The 10-year U.S. Treasury yield hit a 16-year high on Wednesday, but Asian markets struggled to gain ground. Rising oil prices are fueling inflation and creating the conditions for the Federal Reserve to project interest rates will remain higher for longer. Despite overnight losses...  Read more

Politics

GCC countries, US call for demarcation of Kuwaiti-Iraqi maritime borders
By Edem Maxwell,  1 min read

The Gulf Cooperation Council (GCC) and the United States called on Wednesday for the complete demarcation of Kuwaiti-Iraqi maritime borders, citing a judgment by Iraq’s top court that might upend a decade-old maritime accord between the two countries. Tensions between Kuwait and Iraq have risen since the Iraqi Federal Supreme Court declared that an agreement...  Read more

Quote of the day

"Whether you think you can or whether you think you can’t, you’re right!"

Henry Ford

Lifestyle

Justin and Sophie Trudeau separate after 18 years of marriage
By Sidney Schevchenko,  3 min read

Canadian Prime Minister Justin Trudeau made a personal announcement on August 2, 2023, stating that he and his wife, Sophie Grégoire Trudeau, are separating. This revelation sheds light on the private lives of public figures and impacts the political landscape in Canada. This comprehensive report explores the announcement’s significance, its potential implications for Trudeau’s political...  Read more

Biden publicly acknowledges seventh grandchild for first time
By Sidney Schevchenko,  2 min read

In a heartwarming revelation, U.S. President Joe Biden publicly acknowledged his seventh grandchild for the first time in 2023. The announcement marks a special moment for the Biden family and draws attention to the personal aspects of the President’s life. This article explores the details of the acknowledgment and the significance of family in the...  Read more

Wreck of ancient Roman cargo ship found off the coast near Rome
By Levy Hoffman,  2 min read

On July 28, 2023, an exciting discovery was made off the coast near Rome, Italy—an ancient Roman cargo shipwreck. The find has captivated archaeologists and history enthusiasts alike, offering a glimpse into the maritime trade and cultural connections of the Roman Empire. In this article, we delve into the details of the discovery and its...  Read more

How billionaires give back to society

How billionaires give back to society
By Brittany De La Cruz,  20 min read

How billionaires give back to society As the world’s billionaires continue to amass wealth at unprecedented levels, many are turning to philanthropy as a means to give back and address pressing social and economic issues. But with questions around accountability, power concentration, and the effectiveness of philanthropy, is billionaire philanthropy truly a force for good...  Read more

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