Banking and Finance

Starbucks has announced the appointment of Brian Niccol as its new Chairman and Chief Executive Officer, effective September 9, 2024. Until Niccol assumes his role, Rachel Ruggeri, the company's Chief Financial Officer, will act as interim CEO. Mellody Hobson, currently the Board Chair, will take on the position of Lead...

Central banks set interest rates, manage reserves, and act as lenders of last resort to commercial banks and financial institutions during economic crises. Through these functions, central banks influence economic activity and maintain the smooth operation of financial markets. According to the SWFI, the Federal Reserve System of the United...

In the first quarter of 2024, Europe's leading economies experienced modest gains in disposable household income per capita, with increases ranging from 0.2% to 3.4%. Similarly, real GDP per capita showed positive growth in most European nations during the same period, according to data from the Organisation for Economic Co-operation...

PwC is significantly enhancing its AI capabilities with a $11.5 million investment over the next 12 months to establish a new AI Centre of Excellence. This initiative aims to assist Australian businesses in navigating the complexities of AI technology while also strengthening their global competitiveness. PwC announced that this multi-million...

Australia's central bank acknowledged on Monday that economic forecasts were subject to significant uncertainty, which has influenced policymakers' decision to maintain current interest rates while awaiting additional data. Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser, during a speech in Brisbane, noted that inflation had been persistent partly because...

LendingPoint, a US-based online lender specializing in direct-to-consumer loans, has appointed Shawn Stone as its new CEO and board member. Stone succeeds Mark Lorimer, who had been serving as interim CEO following the departure of co-founder and former CEO Tom Burnside in December. LendingPoint, founded in 2014 and headquartered in...

The BRICS alliance has extended official invitations to two new countries for the 2024 BRICS summit. Venezuela and Bolivia, both of which formally submitted their applications earlier this year, are the first nations to be invited to join the group. The 16th BRICS summit is scheduled to take place from...

Canada’s Lassonde Industries has announced a significant leadership transition as part of a broader reshuffle at the top of the agri-food company. The company, known for its diverse portfolio of food and beverage products, has named Vince Timpano, the current President and Chief Operating Officer, as the new CEO, effective...

Cecilie Bahnsen, the Danish ready-to-wear fashion label celebrated for its distinctive sculptural silhouettes and delicate feminine details, has announced a significant leadership change. Effective September 1, Mie Marie Ejdrup will take over as the new chief executive officer, succeeding Kristine Hannah Loebner, who is stepping down from her role as...

Meriaura Group is undergoing a significant leadership transition as CEO Kirsi Suopelto has announced her resignation, leaving the Finnish maritime company to pursue new career opportunities. Her departure marks the end of a pivotal era at Meriaura, where she played an instrumental role in steering the company through its integration...