Sabadell wants to cut workforce in Spain
A union negotiating with the bank said that, Sabadell wants to cut 1,900 jobs in Spain. This was under plans to cut costs and to make more money. Such a reduction would be Sabadell’s second in less than a year. The first will be the recent cutting of 1,817 jobs in Spain. Union Comisiones Obreras (CCOO) said […]
Western Union resumed services to Afghanistan
Western Union Co and MoneyGram International Inc resumed money-transfer services to Afghanistan. This moves in line with a U.S. push to allow humanitarian activity to continue after the Taliban’s takeover. They had suspended more than two weeks ago, after the Islamist militia captured Kabul at lightning speed. There are many eases regarding the security concerns […]
CMC markets sounds profit
Online trading platform CMC Markets cut its annual earnings outlook by up to 80 million pounds ($110.24 million). This is because of the reduced market volatility resulted in lower transaction volumes across new and existing clients. CMC had raised its outlook multiple times this year as a retail trading boom and market volatility fueled volumes […]
Former Goldman economist Pill is named to top economics role by BoE
The Bank of England named Huw Pill, a former chief European economist at Goldman Sachs with lengthy previous experience at the European Central Bank, as its new chief economist. He replaced Andy Haldane, who stepped down earlier this year. Governor Andrew Bailey said that Huw will make a major contribution to monetary policy, and also to the broader […]
False information on Carillion audit – KPMG facing complaint
KPMG allegedly provided false information about its audits of collapsed builder Carillion and data erasure company Regenersis for regulatory checks. That information was provided in connection with the Financial Reporting Council’s (FRC) routine annual quality checks of audits by the main accounting firms. The FRC said that the complaint is against KPMG itself, a former […]
Extending QE to fund green policies is hard for Central banks
The era of monetary dominance is now passing. Former senior adviser to Bank of England Governor Mark Carney said that this is making it hard for central banks to extend their nearly decade-long unlimited easy money provisions to fund green policies. Huw Van Steenis told that though policymakers are still debating over how much of that stimulus should […]
U.S blocks Chinese acquisitions of global tech firms
Chinese state-backed tabloid the Global Times called U.S. efforts to block cross-border acquisitions of tech companies a “red flag” that impedes China’s tech sector. And also, disrupts the growth of the global tech sector. People’s Daily, China’s official newspaper for the ruling Communist Party published an outlet, in which they had argued a recent attempt […]
U.S FAA probes Virgin Galactic flight deviation
The U.S. Federal Aviation Administration (FAA) said that it is investigating a deviation in the descent of the flight of the Virgin Galactic rocket plane. On July 11, it carried British billionaire Richard Branson to the edge of space. According to the New Yorker magazine the regulator was investigating an off-course descent. Deviated from its […]
Royal Dutch Shell to expand EV charging network
Royal Dutch Shell has announced its plans to expand its network of electric vehicle charging points in Britain. They are aiming to install 50,000 on-street posts, and that too by 2025. Shell will implement their plans through ubitricity, which is an on-street charging point company. Ubitricity is operating around 3,600 chargers in Britain. According to […]
Production halt to be extended by Stellantis
Stellantis will extend its planned production stoppage at its Melfi plant in southern Italy, for about one week. This stoppage is due to a global microchip shortage, according to the FIM-CISL union. Melfi is one of the carmaker’s largest plants in Italy, coming after Stellantis. They said it was extending production halts at several plants […]