According to the Financial Times, which cites sources, Ulrich Körner, the last CEO of Swiss Credit Suisse, will leave UBS, which acquired this bank, in the upcoming weeks. The sources claim that by the end of May, UBS management will have finished merging the two banks' legal entities....

9.23 billion pounds ($11.5 billion) of interest was paid to the UK's biggest commercial banks on deposits made with the Bank of England last year, reads the UK House of Commons Treasury Committee report. More than twice as much was received by NatWest, Barclays, Lloyds, and Santander banks as...

The United States Federal Reserve maintained interest rates unchanged on Wednesday and signalled that it is still leaning towards eventually lowering borrowing costs, but it raised a warning flag over recent poor inflation data, which might delay those rate cuts.   Indeed, Fed Chair Jerome...

Following a record-breaking gain since the start of the year, cocoa bean futures prices dropped by 25% during the last two trading days, according to Bloomberg. Following a 16% loss on Monday, cocoa bean futures in New York saw a 13% decrease during trade on Tuesday. While bids were above $10,000...

The French economy accelerated in the first quarter, increasing somewhat faster than predicted due to an increase in consumer spending and company investment, according to official figures released on Tuesday.   The eurozone's second-largest economy grew by 0.2% in the first three months of...

Growth in China's manufacturing and services sectors slowed in April, according to government surveys released on Tuesday, indicating a loss of momentum for the world's second-largest economy at the start of the second quarter.   Signs of decreasing activity following large increases in...

Advertising is really back.   Following a harsh 2022 in which brands curtailed expenditure to offset inflation, and a cost-cutting and layoff-filled 2023, the leading digital advertising businesses have resumed growth at a robust rate.   This week, Meta, Snap, and Google all released...

The president of the World Economic Forum, Borge Brende, provided a dire assessment of the state of the world economy, stating that if the proper policies are not implemented, the world would see a decade of slow development.   Speaking on Sunday in Riyadh, Saudi Arabia, during the WEF's...

An appliance manufacturer in southern China is having difficulty shipping its goods to Russia—not because there are issues with the devices, but rather because China's major banks are blocking payments for these kinds of transactions due to worries about U.S. sanctions.   The founder of the...