Markets

Westpac Banking Corp, a lender based in Australia, has announced plans to trim around 300 jobs in the consumer and business banking divisions. These jobs will be trimmed at a time when the company is witnessing significant growth in profits...

UBS Group is planning to impose strict restrictions on Credit Suisse bankers. These restrictions include a ban on new clients based in high-risk countries. UBS is also restricting the addition of complex financial products. UBS imposes tight restrictions on Credit...

Twitter has refused to settle its Google Cloud bills as the contract that the social media company has with Google nears renewal this month. The move could result in the trust and safety teams at the company being affected. Twitter...

Tesla shares closed trading on Friday with an over 4% gain. The gain came after General Motors agreed to use Tesla’s electric-vehicle charging network. The move is a major win for the company, with analysts saying that it could result...

A court in the United Kingdom has sentenced Anthony Constantinou, the former Director of Capital World Markets, to 14 years imprisonment. Constantinou was found guilty of defrauding investors £70 million using a fake forex investment company. Former Capital Worlds Markets...

Netflix has reported an increase in the number of daily sign-ups in the United States. These sign-ups have increased over the past few days as the streaming giant cracks down on password sharing. Netflix started cracking down on password sharing...

Harley-Davidson, a motorcycle manufacturer, has temporarily suspended production at its plant in Pennsylvania. It is the second time that the company is suspending operations at this plant in over 12 months. The company attributed the latest decision to a shortage...

Bunge Ltd, a grains merchant in the United States, is in the last stages of finalizing a merger with Viterra. The deal between Bunge and Glencore-backed Viterra will support the creation of a trading giant in the agricultural space that...

AstroPay, a global payments provider, has announced plans to maintain its principal partnership deal with Wolverhampton Wanderers Football Club (Wolves) during the 2023/24 Premier League season. The partnership between AstroPay and Wolves started in August 2021. AstroPay renews partnership deal...

LMAX Digital, which is one of the earliest firms that fostered the institutional adoption of cryptocurrencies, is marking its fifth year in operation. LMAX Digital is a part of the LMAX Group, and since its launch, it has set up...

The Philippines is postponing the release of guidelines set to govern the growing crypto industry in the country. The Philippine financial market regulator has said that it needs more time to come up with robust frameworks that will protect crypto...

Barclays is in the process of studying the options available for its global payments activities. The move is part of a broader review being done by the financial institution into the method it has deployed to allocate resources. Barclays explores...

Finnovating, an AI startup company, has unveiled its own Generative Pre-Trained Transformer (GPT). The tool has been created to assist tech companies in performing a wide range of functions, such as finding, matching, and dealing with clients and corporate clients....

Earlier this year, in April, Saxo Bank recorded its lowest monthly forex volumes since December 2021. Before that, in March, the volumes were extremely high, sitting on $155.5 billion within a single month. In April, that figure dropped to only...

Uala, a mobile banking company based in Argentina, recently decided to increase its presence and influence in Mexico. The company announced that it intends to launch a new service — high-yield savings account, which comes only a few weeks after...