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Asia officials reassure following Credit Suisse acquisition

2 min read

After a historic Swiss-backed acquisition of Credit Suisse and a concerted action by global central banks to avoid a financial catastrophe, Asian authorities calmed investor worries on Monday. Hirokazu Matsuno, Japan’s senior cabinet secretary, assured investors that the country’s banking system was solid and that financial stress from the U.S. and Europe would not spread....  Read more

Latest Posts

Putin's ICC warrant reveals "clear hostility" to Russia.

1 min read

On Monday, the Kremlin claimed the ICC’s arrest order for President Vladimir Putin showed “obvious animosity” toward Russia and Putin. Dmitry Peskov, the Kremlin spokesperson, told reporters that Russia was reacting “calmly” and working. “We are witnessing such a lot of blatantly hostile displays against our nation and against our president,” Peskov said at a...  Read more

China a major drag on Taiwan February export orders

1 min read

China and inflation and interest rate rise continued to constrain global demand, dragging down Taiwan’s export orders in February. On Monday, the Ministry of Economic Affairs said that the island’s export orders, which reflect worldwide technological demand, decreased by 18.3% to $42.12 billion. February’s result was worse than experts’ 15.0% forecast and January’s 19.3% drop....  Read more

Japan says financial system stable, minimizes contagion risk

2 min read

On Monday, Japan’s senior government spokesperson assured markets the banking system was stable. Hirokazu Matsuno also applauded Sunday’s agreement by top central banks, including the BOJ, to expand an existing swap line to guarantee lenders have enough dollars to operate. “Each government swiftly scaled up efforts when risk-aversive measures were visible in financial markets,” Matsuno...  Read more

The pressure to combine with UBS is on Credit Suisse.

4 min read

Credit Suisse Group AG (CSGN.S) began a make-or-break weekend after some rivals were more circumspect in their dealings with the bank and authorities pushed it to consider a combination with Swiss rival UBS AG (UBSG.S). Anil Joshi, the CFO of Credit Suisse, and his teams will meet over the weekend to discuss strategic options for...  Read more

A warrant is issued by a foreign court for Putin's arrest.

2 min read

The forceful deportation of Ukrainian children by Moscow is allegedly a war crime, according to the International Criminal Court (ICC), which issued an arrest order for Russian President Vladimir Putin on Friday. Although presenting the operation as a humanitarian effort to safeguard orphans and children abandoned in the combat zone, Russia has not obscured that...  Read more

Amid supply chain difficulties, Germany will seek tighter connections with Japan.

2 min read

Olaf Scholz, the German chancellor, arrived in Japan on Saturday with six of his ministers in tow. Amid supply chain difficulties worldwide, he hopes to deepen Germany’s economic connections with Tokyo while lowering his country’s reliance on China for raw resources. Scholz and Japanese Prime Minister Fumio Kishida began their first “government dialogue” with some...  Read more

Volodymyr Zelenskiy praises ICC, accuses Putin for child deportations

1 min read

Ukrainian President Volodymyr Zelenskiy called the International Criminal Court’s arrest warrant against Russian President Vladimir Putin historic and criticized Putin for deporting thousands of Ukrainian children. “This is a historic decision which will lead to historic responsibility,” he added in his nightly video message. He said that “state wickedness which originates directly with the top...  Read more

Russian sanctions-busting demands overwhelm Kazakhstan - sources

2 min read

Seven individuals told Reporters that Russian firms had overwhelmed Kazakh partners with new demands to help them avoid Western sanctions and acquire required items. As Russia invaded Ukraine on Feb. 24, 2018, the West placed sweeping sanctions on Russia’s $2.1 trillion economy, forcing Moscow to find alternative ways to acquire technology and products. To circumvent...  Read more

Four Belarusian women criticizing government receive harsh prison sentences in secretive courts

1 min read

On Friday, four Belarusian women were sentenced to almost a decade in prison for criticizing autocratic ruler Alexander Lukashenko. In two separate proceedings, tut. By’s leaders and two political scientists accused of subversion were found guilty. The state prosecutor’s office said Marina Zolotova, tut. By’s editor, Lyudmila Chekina, its general director, was sentenced to 12...  Read more

WeWork agrees to convert SoftBank's $1 billion debt to equity.

1 min read

WeWork Inc. (WE.N) announced it will convert nearly $1 billion of key investor SoftBank Group Corp.’s (9984.T) unsecured notes into equity to reorganize its financing. Company shares climbed 2.2% to $1 before the bell. The firm, which offers workstations, private offices, and customizable floors, has benefited from a pandemic-driven move to flexible work outside traditional...  Read more

UN report calls Belarus rights abuses "crime against humanity"

1 min read

In a Friday report, U.N. rights investigators accused Belarus of chronic violations, including the suppression of protestors and dissidents that may constitute crimes against humanity. The U.N. High Commissioner for Human Rights document addressed the lead-up to the disputed presidential election on Aug. 9, 2020, and the crackdown on protesters and opponents that followed. President...  Read more

U.S. legislator asks TikTok CEO to explain kid-safety measures

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

Three Bosnians are sanctioned by the U.S.

1 min read

Three Bosnians, including the former intelligence agency head, were sanctioned by the U.S. on Wednesday for allegedly undermining democratic institutions and risking peace and stability in the Western Balkans. Assistant Secretary of the Treasury Brian Nelson stated that the men “constitute a danger to regional stability, institutional credibility, and the ambitions of people seeking democratic...  Read more

Paramount suffers from ad decline as streaming rises.

1 min read

CBS Network owner Paramount Pictures (PARA.O) missed Wall Street quarterly revenue estimates on Thursday. This is due to a wider advertising market slump. Even though its streaming platform gained millions of subscribers. Media shares fell 8% before the opening bell. Stock prices rose 45% from 2023 to Wednesday’s close. Businesses have cut their advertising budgets...  Read more

Ford to move forward with $3.5Billion EV battery plant.

Ford to proceed with a $3.5 billion EV battery factory with a Chinese firm.

5 min read

Drake said Ford  is not necessarily concerned about the Chinese government interfering with the deal, saying the companies “certainly thought through that and those are provisions,” including optionality in the contract. The expected announcement of the contract between Ford and Contemporary Amperex Technology Co., or CATL, follows Virginia Governor Glenn Youngkin’s revelation that he was...  Read more

U.S. Senate bill would limit big tech mergers

U.S. Senate Bill Would Limit Big Tech Mergers

4 min read

Two U.S. Senate members have introduced bipartisan legislation that makes it harder for Amazon.com (AMZN.O) and other tech giants to make acquisitions. The office of Senator Amy Klobuchar, a Democrat who chairs the Senate Judiciary Committee’s antitrust panel, said on Friday that she and Republican Tom Cotton had introduced a bill targeting such companies as Alphabet’s (GOOGL.O),...  Read more

E-scooter startup Lime raises 523 mln, eyes going public in 2022

E-scooter startup Lime raises $523 million

4 min read

Urban mobility company Lime said on Friday it had raised $523 million from investors to scale up production of its latest e-scooters and e-bikes, and its top executive said the startup is aiming for a stock market listing in 2022. The San Francisco-based company said the money it had raised from convertible debt and term...  Read more

Uber partners with Hertz to offer 50,000 Tesla rentals to U.S. ride-hail drivers

Uber Collaborates with Hertz to give 50,000 Tesla Rentals

3 min read

Hertz and Uber (NYSE: UBER) today are hastening the adoption of electric vehicles (EVs) in the U.S. through a new independent partnership to make up to 50,000 Teslas (NASDAQ: TSLA) ready by 2023 for drivers to rent when working on the Uber network. This partnership is the largest development of electric vehicles on a mobility...  Read more

Business

IndiGo CEO claims aircraft shortfall hindering development goals.

1 min read

IndiGo airline operator Interglobe Aviation Ltd.’s (INGL.NS) plans to ride a tourism boom in India and abroad are hampered by a scarcity of planes, CEO Pieter Elbers said Monday. Elbers told Reuters that the aircraft supply shortfall limited his ability to serve clients. Air travel has rebounded in India after the epidemic. However, Boeing and...  Read more

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Videos

Credit Suisse rescue talks hit crunch time

Sun, 2023-Mar-19 20:32:30

Authorities were scrambling to rescue Credit Suisse before financial markets opened as UBS sought $6 billion from the Swiss government as part of a possible purchase of its rival.

#News #biznob #newsfeed #creditsuisse #UBS

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Wall Street ends sharply lower on bank contagion fears First Republic shares tank, SVB files for ba

Sat, 2023-Mar-18 20:33:13

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BIZNOB – biznob – Noun, a business leader of social importance.

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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First Republic rescue, Yellen comments boost stocks ECB hikes rates again despite turmoil over bank

Fri, 2023-Mar-17 20:33:52

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BIZNOB – biznob – Noun, a business leader of social importance.

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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How the Credit Suisse chaos rippled across markets Wall Street down as Credit Suisse sparks fresh b

Thu, 2023-Mar-16 20:32:23

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BIZNOB – biznob – Noun, a business leader of social importance.

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 rally as inflation cools, bank jitters ebb Crypto Weekly Signature Bank signs off

Wed, 2023-Mar-15 20:32:29

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BIZNOB – biznob – Noun, a business leader of social importance.

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Senator Mark Kelly on how the CHIPS act will benefit the U.S. 🇺🇸 #shorts

Tue, 2023-Mar-14 20:32:27

International Business Development and ’20 client, Richard W. Blossom from Hilltribe Organics #short

Mon, 2023-Mar-13 20:46:53
See More Videos

Technology

Bank instability boosts Bitcoin to 9-month high.

1 min read

Bitcoin reached a nine-month high on Monday as financial uncertainty drove some investors to digital assets, building on its greatest week in four years. The largest cryptocurrency reached $28,567, its highest since mid-June, and was up 0.9% amid optimism that central banks will pause interest rate rises. Bitcoin climbed 26% last week, its highest weekly...  Read more

Donald trumps channel returns on YouTube.

1 min read

After a more than two-year ban following the deadly Capitol Hill brawl on Jan. 6, 2021, Google Inc.-owned YouTube eased restrictions on former U.S. President Donald Trump’s channel on Tuesday. Meta Platforms Inc (META.O) restored Trump’s Facebook and Instagram accounts earlier this year, while new owner Elon Musk restored his Twitter account in November. “We...  Read more

New Zealand bans TikTok on parliament devices for security reasons

1 min read

New Zealand became the latest nation to prohibit TikTok on government-related devices on Friday because of cybersecurity concerns. TikTok’s Chinese parent business, ByteDance, has raised worldwide concerns about the Chinese government accessing users’ location and contact data. Last week, the Biden administration urged that TikTok’s Chinese owners divest or face a U.S. ban, highlighting such...  Read more

Volkswagen invests in mines to supply worldwide batteries

1 min read

Volkswagen (VOWG p.DEtechnology )’s board member aims to invest in mines to lower battery cell prices, fulfill half of its own needs, and sell to other parties. Thomas Schmall told Reuters that V.W. wants PowerCo, its battery company, to provide batteries worldwide. He said Powerco would provide cells to Ford (F.N.) for the 1.2 million...  Read more

Microsoft launches Office AI to compete with Google

1 min read

Microsoft Corp. (MSFT.O) responded to Google’s (GOOGL.O) announcements this week by announcing updates to its widely used office software on Thursday. Microsoft previewed a new AI “copilot” for Microsoft 365, which includes Word, Excel, PowerPoint, and Outlook communications. Microsoft claimed AI could provide a first draft in many apps, expediting content production and saving workers’...  Read more

Enterpreneurship

Airline emissions may prompt worldwide caps by 2024.

3 min read

A prominent airline trade association expects worldwide emissions-related restrictions to start next year as flight traffic rises. Next year, the UN-led Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) will curb international flight emissions at 85% of 2019 levels. Aviation contributes 3% of global emissions, making it crucial to fighting climate change. “Flight shaming”...  Read more

Mazda to name former North America head Moro as CEO

1 min read

On Friday, Mazda Motor Corp (7261.T) said that 40-year business veteran Masahiro Moro would become its next president and CEO as it increases expenditure to electrify its vehicles and contemplates investing in battery production. Director and senior managing executive officer Moro, 62, led the automaker’s North American business. The corporation said it would formally take...  Read more

Scholz will propose EU competitiveness measures at Brussels summit

1 min read

On Thursday, German Chancellor Olaf Scholz said he would strive to enhance European competitiveness at an E.U. summit in Brussels next week by making state support more flexible and completing capital markets and banking unions. Scholz told the German Parliament that the E.U. must cooperate on various subjects, including the Inflation Reduction Act, a massive...  Read more

Latest investment round values Stripe at $50 billion

0 min read

Stripe’s newest capital round valued the company at $50 billion, down from $95 billion in its previous round. Stripe raised $6.5 billion from Andreessen Horowitz, Peter Thiel’s Founders Fund, and General Catalyst. Last month, Reuters reported that the business may not go public this year despite its goal of being profitable.  Read more

Tesla slammed with "right to fix" antitrust class actions

2 min read

Tesla Inc. (TSLA.O) has been sued in two proposed antitrust class actions for unfairly restricting competition for electric car maintenance and replacement components, causing owners to pay more and wait longer for repairs. The claims, filed Tuesday and Wednesday in San Francisco federal court, say that Tesla constructed its electric vehicles, warranties, and maintenance rules...  Read more

Finance

Silicon Valley Bank's parent business switched off records.

1 min read

According to Manhattan court filings filed Sunday, SVB Financial (SIVB.O), the insolvent parent company of Silicon Valley Bank, lost access to its financial data when the FDIC placed the bank into receivership. SVB Financial’s venture capital and investment banking operations, which were not included in the FDIC’s takeover, are considering bankruptcy. A breakdown in collaboration...  Read more

SVB Finance requests bankruptcy for restructuring

1 min read

SVB Financial Group (SIVB.O) filed for a court-supervised restructuring under Chapter 11 bankruptcy protection to sell its assets on Friday, days after U.S. regulators took over Silicon Valley Bank. After announcing on March 13 that it would investigate strategic alternatives for its companies, including the holding company, SVB Capital, and SVB Securities, the firm filed...  Read more

Ofcom delays BT fibre price decision after CEO remarks

1 min read

After rivals objected, Britain’s telecoms regulator said it needed two more months to review BT’s wholesale price offer. Ofcom advised BT (BT.L) not to deploy Equinox 2 on April 1 until it made a final judgment to offer confidence and stability. Sky, Vodafone, and TalkTalk seek incentives from BT to move consumers to its national...  Read more

Economy

US official pledges approximately $171 million for Venezuela

1 min read

A U.S. official told reporters that the U.S. would commit around $171 million in cash for Venezuela at a donor meeting on Friday in Brussels, as the country’s opposition awaits U.S. efforts to clear frozen Venezuelan government funds. The promise is anticipated during a European Union-backed meeting on solidarity with Venezuelan refugees and migrants. The...  Read more

UAE equities rise as banking crisis concerns subside

1 min read

As U.S. officials and banks rescued First Republic Bank, UAE stocks rose on Friday. Leading U.S. banks invested $30 billion to preserve First Republic Bank, which was caught up in a spreading crisis caused by the failure of two mid-size U.S. institutions last week. Brent rose $1.04, or 1.39%, to $75.74 a barrel at 1008...  Read more

Taiwan, fearing loss of ally Honduras, vows it won't bend to China.

1 min read

As Taipei loses Honduras to China, Foreign Minister Joseph Wu said Friday that Taiwan would stay resilient and pragmatic and protect its friends. On Tuesday, Honduran President Xiomara Castro stated the government would seek diplomatic ties with Beijing at the expense of Taiwan, which China claims as its territory. On Wednesday, Castro’s foreign minister, Enrique...  Read more

China decreases banks' reserve ratio for first time in 2023 to boost economy.

1 min read

On Friday, China’s central bank lowered bank reserves for the first time this year to boost liquidity and support a slow economic rebound. Since coronavirus-related limits were unexpectedly withdrawn in December, Chinese policymakers have committed to boosting the world’s second-largest economy, which is slowly recovering from a pandemic-induced recession. From March 27, the People’s Bank...  Read more

Politics

Supporters of Tunisian president gather against "traitors"

1 min read

After a crackdown on opponents accused of treason and corruption, several hundred supporters of President Kais Saied demonstrated in Tunis on Monday to denounce foreign involvement. “The people want the nation cleaned!” they yelled along a key Tunis avenue. Saied’s followers seldom demonstrate, but the opposition has drawn thousands. In 2021, Saied, elected in 2019,...  Read more

Kim supervises US-South Korea nuclear counterattack simulation.

2 min read

On Monday, official media KCNA said that Kim Jong Un had overseen drills simulating a nuclear retaliation against the U.S. and South Korea as a warning to the allies. The North launched a short-range missile from a subterranean silo, which analysts think might enhance intercontinental ballistic missile testing (ICBM). KCNA accused Washington and Seoul of...  Read more

Putin welcomes Xi to Moscow amid Ukrainian turmoil.

2 min read

When Xi Jinping visits Moscow on Monday, Russian President Vladimir Putin will expect him to stand against Western hegemony. At the same time, Xi will pitch China as a global mediator seeking to stop the Ukrainian crisis. Xi will be the first international leader to shake Putin’s hand after the International Criminal Court (ICC) issued...  Read more

Trump anticipates Manhattan DA arrest on Tuesday.

2 min read

According to a Saturday Truth Social post, former U.S. President Donald Trump expects to be detained on Tuesday in a Manhattan district attorney’s case and called on his fans to protest. District attorney spokeswoman denied comment. Trump said that “illegal leaks” from the Manhattan district attorney’s office predicted his arrest. However, he didn’t specify the...  Read more

Ethiopia's Tigray region names temporary head - Tigrai TV

1 min read

On Saturday, party-run media reported that Ethiopia’s northern Tigray region’s dominant party nominated its spokesman Getachew Reda to lead an interim regional administration mandated by a peace deal that ended a two-year war. The Tigray People’s Liberation Front (TPLF) fought Ethiopian forces and their allies in a war that killed tens of thousands. Federal forces...  Read more

Quote of the day

"The way to get started is to quit talking and begin doing."

Walt Disney

Lifestyle

UK government phones to ban TikTok - PA Media

0 min read

PA Media claimed that Britain would ban TikTok on government phones on Thursday. The US, Canada, Belgium, and the EU have banned TikTok, and the National Cyber Security Centre is considering banning it on government phones. ByteDance owns short-form video hosting services TikTok and Douyin. It hosts 3–10-minute user-submitted videos. TikTok and Douyin are now...  Read more

Spain passes bill encouraging gender equality in politics and business.

1 min read

On Saturday, Spanish Prime Minister Pedro Sanchez unveiled a gender equality bill to increase women’s representation in politics, industry, and other public sectors. Gender parity shall be enforced on election lists, corporate boards, and professional organization boards under the Equal Representation Law. Sanchez made the statement during a Socialist party rally ahead of March 8’s...  Read more

Ukrainians allege Russian occupation forced them to register infants as Russian.

3 min read

Olha Lukina, 65, raced to the registrar after her granddaughter was delivered. It was the last in Russian-occupied Kherson to grant Ukrainian citizenship to infants. In May, Kateryna was born during Ukraine’s toughest moments. Leonid Remyga, the chief doctor at Kherson City Clinical Hospital, the city’s only hospital, claimed Russia afterward forced all infants to...  Read more

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