Monday, 29 November 2021

Bloomberg

Credit Suisse CEO says clients unshaken by Khan affair

ZURICH: Credit Suisse boss Tidjane Thiam said a “media campaign” surrounding the Swiss bank’s tailing of former International wealth management executive Iqbal Khan was not affecting its client relationships. Speaking publicly for the first time since the incident prompted an internal inquiry at the bank and a criminal investigation, Thiam ...

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T-Mobile beats quarterly phone subscriber estimates

LONDON: T-Mobile beat analysts’ third-quarter estimates for net new phone subscribers who pay a monthly bill, boosted by competitive wireless plans aimed at fending off its bigger rivals. The third-largest US wireless carrier by subscribers said it added 754,000 phone subscribers on a net basis in the three months ended ...

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Germany Budget Surplus to Reach Billions in 2019

BERLIN: Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Pocket Cast or iTunes. Germany will have a budget surplus this year amounting to billions of euros, Handelsblatt reported, citing government sources. Greater-than-expected tax revenue will result in the figure reaching the “high-single ...

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Huawei phones lose access to install Google’s apps

NEW YORK: Huawei Technologies Co Ltd’s newly launched Mate 30 devices have lost their access to manually install Google’s Android apps, Bloomberg reported. According to the report, security researcher John Wu published a blog post that explained how users of Huawei’s Mate 30 Pro were able to manually download and ...

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China’s central bank injects liquidity into market

BEIJING: China’s central bank pumped 40 billion yuan (about 5.6 billion US dollars) into the financial system Tuesday. The People’s Bank of China injected the liquidity through 14-day reverse repos at an interest rate of 2.7 percent. With no reverse repos maturing Tuesday, this led to a net injection of ...

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Draghi comments at ECB press conference

FRANKFURT: The European Central Bank approved a fresh stimulus package as expected on Thursday, cutting interest rates and approving a new round of bond purchases to prop up euro zone growth and halt a worrisome drop in inflation expectations. Following are highlights of ECB President Mario Draghi’s comments at a ...

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Oracle Unveils More Autonomous Software to Boost Cloud Growth

NEW YORK: Oracle Corp. unveiled an operating system that runs without the need for human oversight, part of a raft of new software tools meant to ease the company’s rocky transition to cloud computing. The operating system expands Oracle’s line of autonomous products beyond databases, the company’s flagship software. Chairman ...

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Google to pay $170 million for YouTube child privacy breaches

LONDON: Google’s YouTube agreed on Wednesday to pay a $170 million fine and limit ads on kids’ videos to settle claims that the company violated children’s privacy laws. The world’s largest video-sharing site agreed to pay the fine, which is a record for a children’s privacy case, of $136 million ...

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Tata Steel to shut some operations in UK, 400 jobs at stake

BENGALURU: Tata Steel Ltd said on Monday it would shut parts of its non-core businesses in the United Kingdom, a move that could cost about 400 jobs. The steelmaker proposed to close its loss-making Orb Electrical Steels site in South Wales, potentially affecting up to 380 jobs, as it was ...

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