The US Federal Reserve is reportedly considering additional interest rate hikes in response to ongoing uncertainty in the banking sector. The central bank is said to be concerned about the potential risks posed by rising inflation and a rapidly changing regulatory environment. According to a report by the Wall Street Journal, the Federal Reserve is […]
The Australian Prudential Regulation Authority (APRA) has reportedly requested risk reports from banks regarding their dealings with startups and cryptocurrencies. The regulator is said to be concerned about the potential risks associated with these emerging industries, including money laundering, cybersecurity threats, and reputational risks. The regulator is specifically interested in the risk management practices of […]
First International Bank has presented financial statements that show growth across all areas of its core operation. In 2022, credit to the public increased by 14.7% to NIS 117,156 million, with business credit growing by 22.7% and credit to households and residential loans growing by 7.6%. Net deposits by the public grew by 9.7% to […]
The Swiss government has ordered Credit Suisse to temporarily suspend bonuses for its employees following a plan for the bank to be taken over by rival UBS. The move comes as authorities in Switzerland rushed to finalize a $3.25 billion sale of Credit Suisse to UBS after an outflow of deposits and years of trouble […]
Switzerland’s political leaders were in a state of emergency on Sunday as they scrambled to rescue Credit Suisse, the nation’s second-largest bank, from a potential financial collapse. The bank had been facing mounting pressure in recent weeks following the revelation of its involvement in a number of risky investment deals. Despite the public reassurances from […]
Microsoft is planning to launch its own play store for iOS devices, such as the iPhone and iPad, by March 2024. This move comes in response to the European Union’s Digital Markets Act, which will allow all independent game developers to launch their own app stores. Microsoft’s play store is expected to include all the […]
David Roche, president of Independent Strategy, has stated that China’s economy will need to recalibrate due to a “fractured” global order, with new drivers of growth that are likely to disappoint global markets. The Chinese government recently announced a target of around 5% GDP growth in 2023, which is the country’s lowest in more than […]
First Republic Bank’s shares soared more than 20% in Tuesday’s pre-market trading, leading a rally in regional bank shares. The surge comes after a recent speech by Treasury Secretary Janet Yellen, in which she indicated that the government could backstop deposits at more banks if there was a risk of contagion. Investors had been worried […]
In a major move to combat climate change, the International Finance Organization (IFO) has announced a $2 billion funding initiative for climate change projects around the world. The funding will be used to support renewable energy, sustainable agriculture, and other projects aimed at reducing greenhouse gas emissions and mitigating the impact of climate change. According […]
Since the release of the GPT-4 AI technology, experts have been exploring the limits of its capabilities. While many had high expectations for this new technology, no one expected it to be capable of developing a full-fledged video game. However, GPT-4 has exceeded all expectations and has proven to be a game-changer in the field […]