Exclusive: Biden’s electric vehicle plan includes battery recycling push
President Joe Biden’s strategy to make the United States a powerhouse in electric vehicles includes boosting domestic recycling of batteries to reuse lithium and other metals. Biden’s administration is set to wrap up a 100-day review of gaps in supply chains in key areas, including electric vehicles (EV). These gaps include the minerals used in […]
Global banks in Hong Kong push to get staff back to office
Global banks are moving faster in Hong Kong. This is to get staff back to office versus in other major centers, given fewer daily COVID-19 cases in the Asian city, and are offering incentives such as onsite vaccinations and days off to encourage inoculation. More than 70% of Morgan Stanley’s staffs are back at their […]
Credit Suisse prepares insurance claims on Greensill Capital losses
Swiss bank Credit Suisse has prepared its first insurance claims. This is after its losses on stemming from its $10 billion of funds which tied to collapsed finance group Greensill Capital. This news has been reported by the Financial Times. Credit Suisse is now greatly attempting to recoup billions of dollars which is owed to […]
Citi CFO Mason warns of mixed year for bank even as recovery continues
Citigroup Inc’s finance chief Mark Mason predicted a strong economic recovery this year. This is as more people get vaccinated, but cautioned that may not translate into better profits for the bank because of a slowdown in institutional businesses and higher expenses. The CFO also stated that it is been a consumer-led recovery, which is […]