HSBC has taken a drastic approach to cost-cutting under its new chief executive, Georges Elhedery, by terminating investment bankers on the day they were scheduled to receive their bonus figures—without awarding them
The late 19th century saw economists, mainly German and Austrian, create a mythology of money’s origins that is still repeated in today’s textbooks. Money is said to have originated as just another
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HSBC has scrapped the controversial “eastern markets” and “western markets” labels for its newly reorganized business divisions, just months after introducing them. The rebranding follows internal concerns and renewed speculation that the
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The U.S. stock market has surged to unprecedented heights, now accounting for nearly two-thirds of the world’s investable equity market. This dominance, fueled by a decade-long rally in technology stocks—particularly those linked
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Japan’s retail giant Seven & i Holdings, the owner of 7-Eleven, is preparing to replace its current president and CEO, Ryuichi Isaka, with its first foreign leader, as the company navigates a
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Tesla’s recent stock slump has sparked concerns not just about the company’s future but also about the broader trajectory of corporate America. The electric vehicle giant, once a Wall Street favorite, has
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The Sri Lankan foreign exchange market has selected Bloomberg’s BMatch solution to enhance interbank trading of the US Dollar against the Sri Lankan Rupee (LKR). The BMatch platform, part of Bloomberg’s FXGO,
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Myanmar and Russia have signed a memorandum of investment cooperation to develop a special economic zone (SEZ) in Dawei, with plans to build a port, a coal-fired power plant, and an oil
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India’s central bank has cut its benchmark interest rate for the first time in nearly five years as policymakers seek to counter slowing economic growth despite persistent inflation. The Reserve Bank of
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Global cryptocurrency markets experienced their largest-ever single-day drop overnight into Monday, with over $2.24 billion in liquidated positions, according to Coinglass, a platform tracking transactions across major exchanges. The unprecedented sell-off wiped
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Global corporate debt issuance surged to an all-time high of $8 trillion in 2024, driven by robust investor demand and declining borrowing costs, The Financial Times reported. The issuance of corporate bonds
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