December 19, 2022
Goldman Sachs plans big job cuts as business slows
Goldman Sachs is planning deep job cuts as it grapples with a sharp downturn in business. The investment bank is preparing cuts that could affect up to 8% of its global workforce, or nearly 4,000 people, the BBC understands.The reductions would go…
December 19, 2022
CIBC plans full roll-out of loan store in 2023
Regional bank CIBC FirstCaribbean said it is working to have the portal open to all customers by the end of 2023. Now undergoing a phased roll-out to selected customers of the bank following the official launch in 2021, the web-based application has…
December 7, 2022
Scotiabank Turks and Caicos (TCI) has been named Bank of the Year 2022
Scotiabank Turks and Caicos (TCI) has been named Bank of the Year 2022 by internationally recognized UK-based banking publication -The Banker. The award celebrates the financial institution’s increased product innovation, digital transformation and…
December 7, 2022
UK aims to double US gas imports under new deal
The UK has agreed to double imports of US gas over the next year as it tries to stabilise soaring energy prices. Prime Minister Rishi Sunak said the plan would "bring down prices for British consumers and help end Europe's dependence on Russian…
December 6, 2022
Morgan Stanley bank to cut 1,600 jobs
Bank Morgan Stanley is cutting about 1,600 jobs or roughly 2% of its global workforce, joining other big banks in making reductions as the economy slows. The news comes after chief executive James Gorman warned that the bank would see "modest" job…
November 28, 2022
US bans sale of Huawei, ZTE tech amid security fears
The US has banned the sale and import of new communications equipment from five Chinese companies, including Huawei and ZTE, amid concerns over national security. Other companies listed include Hikvision, Dahua and Hytera, which make video…
November 24, 2022
New Zealand steps up fight against soaring prices
New Zealand's central bank has stepped up its fight against soaring prices, raising its key interest rate to the highest level in over 13 years. The Reserve Bank of New Zealand (RBNZ) increased its key rate of interest by 0.75 percentage points to…
November 21, 2022
FTX crypto exchange owes biggest creditors $3.1bn
Cryptocurrency exchange FTX owes its 50 largest creditors almost $3.1bn (£2.6bn), according to a court filing. The embattled firm, which filed for bankruptcy in the US last week, says it owes about $1.45bn to its top 10 creditors but has not named…
November 15, 2022
London loses position as most valuable European stock market
Britain's stock market has lost its position as Europe's most-valued, with France taking the top spot, data shows.A weak pound, fears of a recession in the UK, and surging sales at French luxury goods makers are thought to be behind the shift,…
November 14, 2022
UK Recession looms as economy starts to shrink
The UK economy shrank between July and September as the country heads into what is expected to be the longest recession on record. The economy contracted by 0.2% during the three months as soaring prices hit businesses and households.A country is in…