Home / Business (page 40)

Business

Credit Suisse overhauls asset management business

Credit Suisse has pledged to shake up its asset management business and suspend bonuses for several senior executives following the collapse of finance firm Greensill. Credit Suisse announced on Thursday that Ulrich Korner will be the new CEO of its asset management business from April 1. He will replace Eric Varvel, who will serve as CEO of Credit Suisse Holdings ...

Read More »

British Airways to continue work-from-home plan after Covid

British Airways will let staff split their working lives between the head office and home in another example of big firms offering flexible employment. The airline is also exploring the sale of its huge Waterside HQ near Heathrow Airport, where 2,000 people worked before the coronavirus lockdown. “It’s not clear if such a large office will play a part in ...

Read More »

Donald Trump’s wealth takes tumble during presidency

Donald Trump’s net worth dropped by about $700m to $2.3bn (£1.65bn) during his time as president, according to the Bloomberg Billionaires Index. The Covid-19 pandemic hit his fortunes hard, with Mr Trump’s office buildings, branded hotels and resorts losing revenue and falling in value. His fleet of planes and golf courses have also seen drops in their value. Trump is ...

Read More »

Uber to pay drivers a minimum wage, holiday pay and pensions

Uber says it will give its 70,000 UK drivers a guaranteed minimum wage, holiday pay and pensions. The ride-hailing app giant said drivers would earn at least the UK’s National Living Wage, paid to the over-25s, of £8.72 an hour.   It comes one month after the US firm lost a legal battle in the UK, begun in 2016, over ...

Read More »

Brexit: EU to begin legal action over alleged NI Protocol breach

The EU has begun legal action against the UK over its alleged breach of the NI Protocol. It could lead to the UK having to defend its actions at the European Court of Justice. The European Commission’s vice president said he hopes the issue can be resolved without further legal action. Maroš Šefčovič said the EU’s preference is for “collaborative, ...

Read More »

Asif A Chowdhury takes charge as JBCCI President

Asif A. Chowdhury, CEO & Managing Director of CHOWDHURY GROUP, has been elected as President of Japan Chamber of Commerce & Industry (JBCCI) for the year 2020-2022. Besides, Md Shariful Alam, M. Jalalul Hai have been elected as the Vice Presidents, Takeshi Hashimoto as Treasurer and Tareq Rafi Bhuiyan (Jun) has been re-elected as Secretary General for the term 2020-2022, ...

Read More »

Prices of daily essentials soar ahead of Ramadan

The prices of daily essential commodities including rice, edible oil, chicken, onion and vegetables have started going up in Dhaka’s kitchen markets ahead of the Muslim fasting month of Ramadan. At several kitchen markets on Sunday, the prices of each kg coarse, medium and finer varieties of rice rose by Tk 2-3 compared to last week while oil increased by ...

Read More »

Ant Group boss Simon Hu steps down in restructuring

The chief executive of China’s Ant Group has stepped down “for personal reasons” as the online payment giant undergoes a restructuring. Simon Hu will be replaced by executive chairman Eric Jing, the company said. Ant is controlled by billionaire Jack Ma who first made his name through the trading platform Alibaba. The firm has come under intense regulatory pressure and ...

Read More »

Warren Buffett finally joins exclusive $100bn club

Warren Buffett has finally joined the exclusive $100bn (£72bn) club that includes Elon Musk, Jeff Bezos and Bill Gates. The 90-year-old is the chairman of investment firm Berkshire Hathaway, which has seen its shares rise to a record level this year. On Wednesday his net worth edged above $100bn for the first time. Regarded as the world’s most successful investor, ...

Read More »

Asia markets track Wall St record as inflation fears ease

Asian markets ticked higher Thursday as inflation concerns eased, allowing investors to focus on the global recovery and progress in fighting the coronavirus pandemic. Investors were given a positive lead from Wall Street, where the Dow ended at a new record, helped by news that Joe Biden’s stimulus had cleared its last hurdle in Congress, as expected, meaning he can ...

Read More »