The Financial Times reported on Thursday that Credit Suisse Group AG has developed plans to divide its investment bank into three as the Swiss lender tries to recover from three years of nonstop scandals. According to the report, which cited people familiar with the plans, the bank is looking to sell profitable divisions like its…
The Russian invasion of Ukraine has driven up energy and grain prices to all-time highs, increasing the cost of packaged goods. This has been felt most acutely in Asia and North Africa, where people spend a larger proportion of their income on food and fuel than in the United States and Europe, prompting some shoppers…
Despite a cost-of-living crisis that is eating into household budgets, British home improvement retailer Kingfisher reported a 29.5% drop in first-half profit. CEO Thierry Garnier told reporters that, with the exception of outdoor, sales in all product categories had returned to positive like-for-like growth in the previous week. “When we look at customer demand we…
Elon Musk, the CEO of Tesla, claimed that humans are superior at some tasks and that the company’s reliance on factory robots four years ago caused it to enter “production hell.” According to job postings, Musk’s Texas-based company is reportedly considering ambitious plans to use thousands of humanoid robots, also known as Tesla Bot or…
Plaintiffs in talc lawsuits against Johnson & Johnson urged an appeals court on Monday to reinstate their cases, arguing that the profitable company shouldn’t be permitted to use a bankrupt subsidiary to thwart claims that the products cause cancer. They requested that the bankruptcy of J&J’s subsidiary LTL Management be dismissed by a panel of…
Apple Inc. announced on Tuesday that starting in some countries in Asia and South America as well as the entire euro zone, prices for apps and in-app purchases on its App Store will increase. The new costs, excluding subscriptions that automatically renew, will take effect as of October 5, according to a blog post by…
Four sources told Reuters that Japanese beverage company Kirin Holdings is in discussions to invest $70 million in Indian craft beer maker Bira, doubling down on the rapidly growing South Asian market at a time when it is under pressure to maintain growth at home. According to the sources, Kirin, which made its initial $30…
On Monday, cryptocurrency prices hit new lows as a result of regulatory worries and a general investor reluctance to invest in risky assets due to impending interest rate increases. By market value, Bitcoin, the most valuable cryptocurrency, dropped about 5 per cent to a three-month low of $18,387. The second-largest cryptocurrency, Ether, fell 3 per…
According to sources, the Indian government and central bank have asked Alphabet Inc.’s Google to enact stricter controls to help reduce the use of illegal digital lending applications in India. Despite the fact that Google is outside the Reserve Bank of India’s (RBI) purview, the central bank and the Indian government have reportedly called the…
The computer network of Uber has been hacked. The ride-hailing company stated that it was conducting an investigation after several internal communications and engineering systems were compromised. The breach was first reported by the New York Times after the hacker sent the newspaper images of email, cloud storage, and code repositories. According to the report,…
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