Banks (Finance)
As the US Supreme Court overturns Roe v Wade, major corporations have moved swiftly to provide support and financial assistance to employees seeking abortions in states where the procedure is outlawed. With millions of women potentially seeking care elsewhere, companies are adding "critical healthcare" packages to employee benefits,
Banks (Finance)
The US economy is headed for a deeper recession than initially anticipated, according to Deutsche Bank, which has become the first major bank to predict a US recession in April. The bank's economists now expect the economy to slow dramatically, with a 3.1% annualized contraction in the
Banks (Finance)
The Bank of England has hiked its base interest rate to 1.25 per cent, the highest rate in 13 years, in an attempt to combat rising inflation and poor economic growth. This move follows a series of interest rate hikes, with this being the fifth consecutive increase. The decision
Banks (Finance)
The Bank of England has revised its inflation prediction upwards to 11%, citing global factors including the war in Ukraine and domestic issues such as the tight labor market, as well as companies increasing wages and prices. Despite this, the Monetary Policy Committee has opted for a fifth consecutive 0.
Banks (Finance)
The Reserve Bank of India's recent 50 basis point hike in the repo rate to 4.9 per cent has led to a chain reaction, with several banks raising their repo-linked lending rates (RLLR) in response. ICICI Bank, Bank of Baroda, Punjab National Bank, HDFC, Bank of India,
Banks (Finance)
HDFC Bank, India's largest private sector lender, has implemented a significant increase in its marginal cost of lending rate (MCLR) across all tenors. The bank has increased its MCLR by 35 basis points (bps), with the one-year MCLR, which is a key rate for consumer loans, now standing
Banks (Finance)
Climate justice activists and environmental groups have been vocal about Deutsche Bank's alleged greenwashing, a practice where companies inflate their environmental credentials to make their financial products appear more sustainable. The controversy deepened when police raided the bank's offices, citing allegations of misrepresenting the environmental benefits
Banks (Finance)
Al Salam Bank has unveiled its latest innovation, Al Salam Invest, a cutting-edge investment platform available on the bank's mobile application, designed to provide private banking and Al Ruwad clients with a seamless digital trading experience. This upgrade aims to give users instant access to global equities, exchange-traded
Banks (Finance)
Renowned bank-stock analyst Mike Mayo of Wells Fargo has identified some of his favorite large-cap bank stocks that have shown resilience despite market concerns. In a recent Wells Fargo banking conference, Mayo outlined his picks, highlighting their strengths and potential for growth. Mayo's list includes Bank of America,
Banks (Finance)
Vice-President Gelsomina Vigliotti and Director General for Operations Jean-Christophe Laloux will represent the European Investment Bank Group at the annual meeting of the World Economic Forum in Davos from 22-26 May. The EIB Group will participate in debates and highlight its initiatives in areas and regions at a turning point,
Banks (Finance)
Britains face an uncertain economic future as food prices could skyrocket by 10% this year, according to the chairman of Marks & Spencer, Archie Norman. This warning comes as the country struggles with soaring inflation, with official figures revealing that regular pay excluding bonuses dropped by 2.9% in March,
Banks (Finance)
China's economic slowdown has accelerated as Covid-19 lockdowns hit its factory sector hard, consumers slashed their spending, and unemployment rose. Retail sales and factory output both plunged at the fastest rate since early in the pandemic, with analysts warning of no quick recovery. The data shows the rising
