News

UBS resumes selling the bonds at the heart of Credit Suisse controversy

UBS on Wednesday began selling Additional Tier 1 (AT1) bonds for the first time since completing the takeover of Credit Suisse.

China's truck industry is buying more driver-assist technology

China's autonomous trucking industry may be near an inflection point.

Fed’s Goolsbee says 'golden path' of a huge drop in inflation without a recession is still possible

Chicago Fed President Austan Goolsbee said a soft landing is still on the table as the Fed seeks to combat inflation without hurting the economy significantly.

UBS posts bigger-than-expected quarterly loss as Credit Suisse integration costs pile up

UBS on Tuesday reported a bigger-than-expected third-quarter net loss of $785 million as it works to integrate fallen rival Credit Suisse.

China's biggest shopping festival is set for a tepid 2023, survey finds

Most consumers in China are planning to keep a lid on spending during this year's Singles Day shopping festival, according to a survey from Bain and Company.

A meteoric rise in worker health costs has slowed — but they’re already 'egregious,' advisor says

Growth in cost-sharing like deductibles and out-of-pocket maximums has been relatively muted in recent years, according to health data.

Citigroup considers deep job cuts for CEO Jane Fraser’s overhaul, called 'Project Bora Bora'

Citigroup CEO Jane Fraser may preside over some of Wall Street's deepest job cuts in years as she faces mounting pressure to fix the third-largest U.S. bank.

Klarna, Europe's $6.7 billion buy now, pay later firm, sets wheels in motion for eventual IPO

Buy now, pay later firm Klarna has begun a legal entity restructuring to set up a new holding company in the U.K., as a precursor to an eventual IPO.

Singapore's largest bank DBS beats forecast, quarterly profit jumps 17%

Singapore's largest bank DBS Group reported a 17% jump in third-quarter profit, and declared a dividend.

Berkshire Hathaway posts a 40% jump in operating earnings, cash pile swells to a record $157 billion

Berkshire Hathaway on Saturday reported a big jump in third-quarter operating earnings, while sitting on a record amount of cash that surpassed $157 billion.

Unemployment among Hispanic workers rises at faster pace in October than overall rate

The labor market showed deterioration for Hispanic workers, whose unemployment rate rose more than average in October.

Goldman Sachs says the Israel-Hamas war could have major implications for Europe's economy

The Israel-Hamas war could significantly impact economic growth and inflation in the euro zone unless energy prices remain contained, Goldman Sachs says.
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