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UBS raises S&P 500 forecast for the end of this year to 5900 points 07/22/2024

SEC approves spot ETFs on Ethereum 07/24/2024

Bosch to pay $8B for Johnson Controls divisions 07/24/2024

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Germany's central bank to cut about 5% of jobs

German Central Bank intends to reduce employment by up to 5% over the next few years as part of a modernization effort, Deutsche Welle reports. The decrease will be made by declining to fill many positions that will become vacant over the course of the next four years when some employees retire....

Layoffs in IT-companies in the world exceeds 236 thousand since beginning of 2023

According to a survey by Layoffs.fyi, more than 236 thousand people worldwide lost their jobs in the technology sector since 2023. There will be a large increase in layoffs in the tech sector compared to previous year by the end of 2023. Thus, 1,019,000 tech enterprises have fired 236,495,000...

Banco Santander reorganizes operations in private and business services sectors

The biggest bank in Spain, Banco Santander, has combined its activities to create two new global divisions: Retail & Commercial and Digital Consumer Bank (which provides digital services) for individuals and businesses worldwide. Santander said in a news release that as a result, all of its...

Salesforce to hire 3.3k employees after cutting 10% of staff

Salesforce Inc., a US-based company that offers cloud-based business solutions for customer engagement, intends to hire 3,300 people for several departments. 10% of the company's workforce were let go earlier this year as part of an operational restructuring. The difficulty, according to...

CEO Of Citigroup Orders Significant Management Changes And Job Cutbacks

In a significant reorganisation, Citigroup will eliminate a layer of management and make employment cuts. This will give CEO Jane Fraser more direct power as she works to streamline the Wall Street behemoth and raise its stock price. The CEO will be directly responsible to the heads of the...

Investors With An Activist Bent Are Interested In Consumer Goods And Food Industries

Early in 2021, investment management company Artisan Partners informed a prospective board member of Danone that it had grown its holdings in the French food behemoth to more than 3%. Danone's performance has fallen short on practically all counts, according to Artisan, who demanded improvement....

Citigroup to split up its institutional client business

Sources told the FT that the head of Citigroup is thinking about dividing the company's institutional clients division into three sections. Citigroup CEO Jane Fraser is thinking of dividing the Institutional Clients Group (ICG) into three sections, as reported by the Financial Times. Fraser...

Bloomberg: World's top 500 billionaires have grown rich by $852 billion since beginning of 2023

The aggregate wealth of the top 500 global billionaires climbed by $852 billion in the first half of the year. The figures come from the Bloomberg Billionaires Index. This mostly reflects the fact that stock growth has resumed following decreases the previous year. The S&P 500 Index increased...

Nissan Looks Into Complaints CEO Put The Deputy Under Observation

According to four persons with firsthand knowledge of the situation, Nissan has opened an investigation into charges made by a top adviser that Chief Executive Makoto Uchida secretly watched his deputy Ashwani Gupta. In a letter dated April 19 to the independent directors on the board of...

SVB Securities managers to spend $55 million on the bank

The Wall Street Journal reports that SVB Securities' managers will purchase the company for $55 million cash under the direction of its chief executive. According to The Wall Street Journal, management at investment bank SVB Securities, led by its chief executive Jeff Leerink, will purchase the...