Banking and Finance

Abrdn Plc reported positive net inflows in the first half of 2024 as the asset management firm continues its search for a new permanent chief executive officer. The firm announced on Tuesday that clients contributed a net of around $1 billion to its funds during the first six months of the...

Monday proved to be a harsh day for billionaires worldwide, as a massive market selloff wiped out a staggering $201.9 billion from the collective net worths of the world’s 2,713 billionaires in less than 24 hours. The turmoil began in Asia, where Japan's Nikkei index plummeted by 12%—its worst trading...

Monday saw significant drops in US stock markets following declines in Europe and Asia, fueled by growing concerns about a potential slowdown in the American economy. The technology-heavy Nasdaq index opened with a 6.3% loss after a sharp decline late last week but managed to recover some of its losses...

Prudential has appointed Angel Ng as the new Regional CEO for its Greater China and wealth businesses, succeeding Lilian Ng. Lilian, currently Managing Director of Prudential's Strategic Business Group, will retire at the end of the year after a distinguished 30-year career with the company. Lilian Ng has been a...

Andrew Keith is stepping down from his position as CEO of Selfridges to explore new opportunities. Keith, who joined Selfridges in early 2021 and assumed the CEO role in June 2023, previously revitalized Hong Kong’s Lane Crawford department store. During his tenure at Selfridges, he navigated a challenging UK retail...

Energy Absolute Pcl, a prominent Thai renewable energy firm currently facing significant value loss due to a fraud investigation, has appointed a new CEO in advance of crucial meetings with bondholders to request extended debt repayment terms. The company announced that it will be engaging with holders of bonds worth...

MTN Group has announced significant leadership appointments and departures. Mohammed Rufai has been named the new CEO of MTN Congo-Brazzaville, starting on September 1, 2024. Ayham Moussa will take on the role of COO at MTN Nigeria, effective August 19, 2024. In addition to these appointments, MTN disclosed the voluntary early...

Starting mid-August, Douglas Group, a major European beauty retailer, will see Sebastiaan de Jong, formerly CEO of Etos and a veteran of Ahold, step in as the new CEO for the Netherlands and Belgium (Benelux). This transition follows the departure of the current regional head, Willem Duthler, who is stepping...

Delta Air Lines CEO Ed Bastian revealed on Wednesday that the recent IT outage, which left thousands of customers stranded, will cost the airline $500 million. This figure includes lost revenue and “tens of millions of dollars per day in compensation and hotel expenses” over a five-day period, aligning with...

Boeing has announced Kelly Ortberg as its new Chief Executive, selecting the former head of one of its suppliers to navigate the company through one of the most challenging periods in its history. Ortberg will commence his role on August 8 and join Boeing’s Board, concluding months of speculation following...