Jamie Dimon, President, CEO & Chairman of JP Morgan Chase, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 19th, 2023. Adam Galica | CNBC The stress on the financial sector caused by two bank failures in the United States last month is still a threat and […]
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Biden administration pushes to revitalize coal communities with clean energy projects
U.S. Energy Secretary Jennifer Granholm speaks to reporters during a press briefing at the White House in Washington, June 22, 2022. Kevin Lamarque | Reuters The Biden administration is channeling hundreds of millions of dollars from recent legislation into its efforts to turn coal communities into clean energy hubs, the […]
‘I am truly sorry’: Credit Suisse chair pleads with angry shareholders at annual meeting
ZURICH, Switzerland – April 4, 2023: Credit Suisse chairman Axel Lehmann opens the annual general meeting of Credit Suisse, after the Swiss government arranged its takeover by UBS on March 19 to prevent a financial meltdown. FABRICE COFFRINI/AFP via Getty Images Credit Suisse Chairman Axel Lehmann on Tuesday told shareholders […]
Italy became the first Western country to ban ChatGPT. Here’s what other countries are doing
This photo illustration shows the ChatGPT logo at an office in Washington, DC, on March 15, 2023. Stefani Reynolds | AFP | Getty Images Italy has become the first country in the West to ban ChatGPT, the popular artificial intelligence chatbot from U.S. startup OpenAI. Last week, the Italian Data […]
Credit Suisse shareholders gather at annual meeting to demand answers over UBS rescue
A Credit Suisse Group AG bank branch in Bern, Switzerland, on Thursday, March 16, 2023. Stefan Wermuth | Bloomberg | Getty Images Shareholders are gathering at Credit Suisse‘s annual general meeting Tuesday to demand answers and accountability over its controversial takeover by UBS. A police presence was established early Tuesday […]
Russia’s ultranationalists appear increasingly vulnerable after pro-war blogger’s killing
A portrait of Russian military blogger Vladlen Tatarsky, whose real name is Maxim Fomin, who was killed in the April 2 bomb blast in a cafe, is seen among flowers at a makeshift memorial by the explosion site in Saint Petersburg on April 3, 2023. Olga Maltseva | Afp | […]
Virgin Orbit files for Chapter 11 bankruptcy protection in the U.S.
The company’s modified 747 jet “Cosmic Girl” in Mojave, California. Virgin Orbit Virgin Orbit on Tuesday filed for Chapter 11 bankruptcy protection in the U.S. after failing to secure a funding lifeline. “While we have taken great efforts to address our financial position and secure additional financing, we ultimately must […]
Asia faces ‘tough decisions’ on inflation as oil prices rise, ADB says
Higher oil prices will challenge regional governments to make “tough decisions” on inflation, said Albert Park, chief economist at the Asian Development Bank. Most Asian economies are importers of oil, like Indonesia and those in central Asia, said Park. As a result, the latest sudden OPEC+ oil production cut could […]
China’s homebuyers are starting to come back
A real estate project under construction in Shanghai’s newer Pudong district on Feb. 23, 2023. Future Publishing | Future Publishing | Getty Images BEIJING — More people in China want to buy houses again, according to a first quarter survey released Monday by the People’s Bank of China. The share […]
Manhattan real estate sales plunge 38%, but cash deals hit all-time record
Manhattan real estate sales fell 38% in the first quarter, as buyers and sellers battled over prices and mortgage rates remained volatile, according to new reports. Total sales volume fell to $4.4 billion in the quarter, with 2,242 apartments and townhouses sold, compared to 2,546 sales in the first quarter […]