HSBC mulls ditching Canadian business amid Ping An breakup pressure October 5, 2022 HSBC is mulling hiving off its Canadian business in a move that could raise billions for Britain’s biggest bank. The banking giant has asked JP Morgan to identify possible buyers of its Canadian arm. Sky News first reported the news today. If HSBC did leave Canada – where it has built up a sizable £6bn [...]
SoftBank begins slashing 30 per cent of staff from Vision Fund September 29, 2022 Japanese investment giant SoftBank has begun laying off staff at its flagship Vision Fund unit as it plans to slash headcount by around 30 per cent, according to reports.
Alsace wines have bite as well as bark September 25, 2022 When I began to learn about wine in my early 20s, Alsace was a region I was drawn to. I loved the opulent richness of the wines, from the semi-sweet floral Gewurztraminer and Muscat to the broad strokes of the rounded Pinot Gris and complexity of the Rieslings. The good ones were balanced by a [...]
Sterling’s freefall is global but there are still markets where the Pound buys you more than last year September 22, 2022 The pound has tanked again against the dollar and is now down 18 per cent year-on-year. As the Bank of England prepares to hike interest rates later today, Sterling has endured a rough ride on the currency markets over the last 12 months. As a result, this is making holidays more expensive in 48 out [...]
Cheers! Cardano Foundation raises a glass to the Georgian wine industry September 15, 2022 The Cardano Foundation is creating a blockchain solution aimed at ensuring the quality and authenticity of Georgian wine.
OPEC+ to cut oil output as recession fears weigh down demand September 5, 2022 OPEC+ have agreed a small output cut in oil production to bolster prices that have dipped amid escalating fears of an economic slowdown.
Why strategy making should not be a secret September 5, 2022 “You see, Charlie, not so very long ago there used to be thousands of people working in Mr Willy Wonka’s factory. Then one day, all of a sudden, Mr Wonka had to ask every single one of them to leave, to go home, never to come back.” “But why?” asked Charlie. “Because of spies. All the other [...]
TikTok-owner ByteDance to lower price of employee stock options amid slipping growth August 31, 2022 TikTok-owner ByteDance is reportedly looking to lower the price of its stock options for employees amid declining growth. The Chinese technology giant is expected to lower prices to $155 a share from $195, Bloomberg first reported, citing a human resources executive. ByteDance’s revenue growth slipped to 70 per cent year-on-year last year, down from [...]
Easing China economy slowdown fears sends miners to top of London’s FTSE 100 August 16, 2022 Easing fears over a slowdown in the Chinese economy boosted London’s premier FTSE 100 index today. The FTSE 100 jumped 0.36 per cent to 7,536.06 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.23 per cent to 20,336.41 points. Figures published earlier this [...]
Chinese tech giants including TikTok owner reveal algorithms amid scrutiny August 16, 2022 A string of Chinese tech giants have been pushed to share details of their algorithms with Beijing’s cyberspace watchdog amid increasingly scrutiny in China. Some 30 companies, including Alibaba, Tencent and TikTok-owner ByteDance, today had descriptions of their algorithms published by the Cyberspace Administration of China. The Chinese regulator is expected to regularly update the [...]