HSBC Reports Doubling Of Profits For 2021 And Bring Forward Crucial Target With Anticipated Rate Hike

The projected bad loans because of the Covid-19 pandemic did not happen which prompted lender HSBC to accelerate its major profitability objective by a year while also reporting a doubling of annual profits for 2021 as the lender is anticipating greater income because of expected higher interest rates.  HSBC, one of the biggest lenders of Europe, is benefiting from lower-than-expected impairment charges since borrowers of…

Rebound In Tourism Helps Thai Economy To Return To Growth In Q4

Growth of one of the Asian emerging economies, Thailand, in the fourth quarter was faster than projected, thanks to strong exports and a resurgence in domestic activity following the lifting of coronavirus restrictions and the reopening of borders to foreign tourists.  The government kept its economic growth forecast at 3.5 per cent to 4.5 percent, citing…

Trump’s Social Media App Truth Social To Go Live Starting Monday In Apple App Store

According to tweets from an executive on a test version seen by Reuters, Donald Trump’s new social media endeavor, Truth Social, is slated to be launched in Apple’s App Store starting Monday, according to posts made by an executive of the venture’s test version, said reports. This also potentially marks the return to social media platforms for the…

Credit Suisse Denies All Allegations Of Wrongdoing Following Leak Of Client Data To Media

After dozens of media outlets revealed the results of coordinated, Panama Papers-style probes into a breach of information on thousands of accounts held  After dozens of media outlets revealed the results of coordinated, Panama Papers-style probes into leakage of information on thousands of accounts held  The data on the accounts, which span the time period…

mRNA Vaccine Technology To Be Accessed By African Countries In WHO Project

Six African countries – Egypt, Kenya, Nigeria, Senegal, South Africa, and Tunisia – will be the first on the continent to get the technology required to manufacture mRNA vaccines, according to the World Health Organization. The technology transfer project, which began in Cape Town last year, intends to assist low- and middle-income nations in mass-producing mRNA…

“Bribes” Formed The Basis Of 1MDB Business, Admits Former Goldman Banker

Former Goldman Sachs banker Tim Leissner, who was previously credited with delivering the bank lucrative Malaysian business, has told a court that the agreements were made possible by “bribes and kickbacks.” Leissner was giving testimony in the trial of Roger Ng, a former colleague. Prosecutors allege that the two men assisted in the diversion of…

New Executive Appointed To Oversee Metaverse Strategy Of Disney

Disney has selected a senior executive to oversee the company’s metaverse strategy. Mike White, an employee of the company for more than ten years, has been tasked to lead a group of top executives to develop the firm’s metaverse strategy. Chief executive Bob Chapek stated in a memo to colleagues published by the BBC that the metaverse…