AFP
19879 articles published since 08 Mar 2022
19879 articles published since 08 Mar 2022
US central bankers face an unenviable task when they gather in Washington next week: tackling persistent inflation without adding to financial sector turmoil after Silicon Valley Bank's rapid collapse.
The rise of artificial general intelligence -- now seen as inevitable in Silicon Valley -- will bring change that is "orders of magnitude" greater than anything the world has yet seen, observers say.
UBS and Credit Suisse, the two biggest banks in Switzerland, are in takeover talks, according to several media -- a move long deemed unthinkable as the pair are so similar. Investment banking represents 25.2 percent of UBS's turnover, compared to nearly 20.6 percent at Credit Suisse, with the pair running many similar activities such as mergers and acquisitions advice.
Credit Suisse is in advanced talks with its larger Swiss rival UBS about a deal to salvage Switzerland's second-biggest bank, in a bid to reassure investors before the markets open next week, several media reported Saturday.
Top financial officials from Latin American and Caribbean countries are meeting Saturday in an annual conclave of the Inter-American Development Bank (IDB), after a week overshadowed by the banking crisis in the United States and Europe.
Troubled Credit Suisse has two days to reassure before the markets open Monday with the spectre of a new turbulent week in global finance looming. After a turbulent week on the stock market which forced the SNB to step in with a $53.7 billion lifeline, Credit Suisse was worth just over $8.7 billion on Friday evening.
It's a profession which is increasingly under the spotlight as the culture wars rumble on: "sensitivity readers" -- editors who identify insensitivities or stereotypes in manuscripts -- are becoming a lightning rod for the publishing industry.
Chinese technology giant Huawei has replaced thousands of product components banned by the United States with homegrown versions, its founder has said, according to a transcript of a recent speech released by a Shanghai university.
Consulted by policymakers and able to nudge his peers into action, JPMorgan Chase CEO Jamie Dimon played a key role in a bank rescue effort this week -- a situation sparking reminders of 2008. And Dimon, 67, played an important role in the plan.
AFP
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