Banking and Finance

The U.S. trade deficit expanded in May to its widest point since late 2022, according to government data released on Wednesday, as both exports and imports saw declines. The overall trade gap increased to $75.1 billion, up from a revised $74.5 billion in April, as reported by the Commerce Department....

Givenchy, part of the LVMH luxury conglomerate, has appointed Alessandro Valenti as its new CEO. This announcement follows the departure of Matthew Williams as creative director in January and Renaud De Lesquen's decision to pursue a new career path. Valenti, previously the president of EMEA (Europe, Middle East, and Africa)...

Aston Martin has announced the appointment of Andy Cowell, former Mercedes Power Unit chief, as their new Group Chief Executive Officer, succeeding Martin Whitmarsh. Cowell, known for his pivotal role in developing the V6 hybrid power units that secured six consecutive double world titles for Mercedes, will take on his...

North American lithium producer Sayona Mining has appointed Lucas Dow as the new Managing Director and CEO, succeeding interim CEO James Brown. Dow, a seasoned mining executive with extensive experience in leading resource organizations, initially joined Sayona's board as a non-executive director on February 14. Dow acknowledged the significant contributions...

Over the past five years, Turkey has witnessed a significant surge in its exports to the member countries of the Shanghai Cooperation Organisation (SCO). From a modest $14.1 billion in 2019, exports have escalated by 85 percent, reaching nearly $26.1 billion in 2023. Last year, the SCO member nations accounted...

Following the recent appointment of Nicolas Bos as CEO of the Richemont Group, the luxury conglomerate has announced further leadership changes, naming Louis Ferla as the new CEO of Cartier, effective 1st September 2024. Ferla, formerly with Vacheron Constantin, succeeds Cyrille Vigneron, who has led Cartier for eight years. Louis...

Bendigo and Adelaide Bank has promoted Richard Fennell to the roles of CEO and Managing Director, effective from 31 August, following Marnie Baker's departure. Following the announcement of this leadership change, Bendigo and Adelaide Bank's shares saw a decline. The bank's shares dropped by 2.1%, reaching $11.18 by early afternoon....

Foreign Direct Investments (FDI) into the ASEAN economies of Indonesia, Malaysia, the Philippines, Thailand, Singapore, and Vietnam surged to US$236 billion in 2023, significantly higher than the annual average of $190 billion recorded between 2020 and 2022. Southeast Asia has become a preferred destination for companies diversifying their production away...

The EUROJET Consortium has announced the appointment of Ralf Breiling as the new Chief Executive Officer of EUROJET Turbo GmbH, effective July 1, 2024. Breiling, who will take over from the retiring Gerhard Bähr, brings over 30 years of experience in the aerospace industry. The EUROJET consortium, responsible for managing...

Kambi Group plc's Board has named Werner Becher as the new Chief Executive Officer, effective July 25, following the release of the company's Q2 2024 report. Becher succeeds Kristian Nylén, bringing extensive experience in sports betting and technology sectors. Upon joining Kambi, Becher will focus on sustaining the company's success...