, Wells Fargo terminates 100 employees for siphoning relief aid from SBA
Evidence has regularly come out of how the stimulus package floated by the government under the CARES Act has been wildly misused by large corporate houses and even senators for pandemic relief.
, HSBC commits nearly $1 trillion to achieve net zero emissions by 2050
With a portfolio of Asian clients that rely on fossil fuel investments, HSBC will be in a difficult position to realize its commitment to zero emissions by 2050.
, Li Ka-shing’s buy-in of shares in CK Hutchison, CK Asset Not showing results
The stock purchases represent only about 1% of the combined market value of the two firms. The investment in these companies is more a show of confidence by the controlling company, say experts. Li Ka-Shing is known as the superman investor who has the knack to pick up cheap stocks in flailing companies and turn around fortunes.
, JPMorgan Chase to Shift $200 billion Assets out of UK
Banks and financial institutions are moving out of London as no trade deals seems to be on the horizon for Britain after exiting the EU
, Salesforce Announces Layoffs amid Best Quarter Earnings Report
Salesforce reported $5.5 billion in quarterly earnings, a historical best for any SaaS tech firm, but it was not enough to save jobs in the company.
, JPMorgan to shell out $1 billion for full ownership of CIFM
JPMorgan’s asset management business is to buy the 49% stake in CIFM to tap into the country’s growing affluent finance sector.
, US DOL plans on retirement will accelerate ESG investments: Larry Fink
A US Department of Labor proposal to discourage retirement plans from making investments based on environmental, social and governance (ESG) considerations will speed up interest in ESG investing.
, HSBC to shed 35,000 jobs as bank revives redundancy plan
HSBC revives redundancy plan it put on hold after the coronavirus outbreak, and will axe 35,000 jobs over the medium term. The bank’s CEO …
, Global Economy Will Recover Sharply and Quickly From Present Recession, Morgan Stanley Report
The Covid-19 coronavirus has wrought havoc with the global economy and human health. The highly contagious virus and the increasing number of infections and …
, Japan Delivers World’s Biggest Stimulus Package
The Japanese government will inject a new lease of life into the nation’s recession-hit economy as it introduces a new $1.1 trillion stimulus package. …
, Post-COVID Credit Suisse: Jobs may go missing in next few years
Credit Suisse Group AG expects fewer staff in post-COVID adjustment as it faces the prospect of slower growth and imminent credit defaults. Online …
, New Study Shows Layoffs Lead to Increased Violence and Property Crimes
With the Coronavirus pandemic situation causing massive and global economic disruption, academic research has found out that displaced workers have experienced a 20% increase …
, Americans foresee issues in payment of credit card bills during Coronavirus situation
As businesses and offices across the country take extreme measures in the wake of the COVID-19 outbreak, around 67 millions of Americans are worried …
, Alibaba Stock Impacted by Black Swan Coronavirus Event
Alibaba Group reported better than expected earnings and revenue in the third quarter ending December. Despite this, its stocks were down on the bourses …
, SoftBank to rescue cash-strapped WeWork with $8 billion bailout deal
WeWork, a unicorn once valued at $47 billion, is now worth as little as $7.5 billion as SoftBank takes control of the cash-strapped startup. …
, ING’s chief economist predicts central bank digital currency in next few years
The global cryptocurrency market is projected to grow by US $452.2 million, largely driven by growing awareness among Asian investors coupled with the availability …
, Wells Fargo names Charles Scharf new CEO
Wells Fargo & Co on Friday announced Charles Scharf, the CEO of Bank of New York Mellon, as its successor. The bank’s interim CEO …
, All the Apple Card cash back rewards and a major flaw
Apple unveiled the Apple Card credit card during its “show time” launch spree that featured many new Apple products, including the long awaited Apple …
, JP Morgan is the New Kid on the Blockchain
JP Morgan Chase on Thursday announced its ambitious plan to enter the blockchain business. The largest of America’s Big Four banks unveiled a digital …
, JPMorgan plans to open a new fintech campus in Silicon Valley
US largest bank JPMorgan Chase on Friday said it was building a new “fintech campus” in Palo Alto, California, as part of its efforts …
, Tiger Global pours $1 billion into SoftBank
U.S. hedge fund Tiger Global Management has invested over $1 billion in Japan’s SoftBank Group, Bloomberg reports. SoftBank shares increased the most it has …
