Banking and Finance

On Thursday, Japanese conglomerate Seven & i Holdings unveiled its latest strategy, emphasizing the growth of its core 7-Eleven convenience store chain while sidestepping any discussion of the $47 billion acquisition proposal from Canada’s Alimentation Couche-Tard. During an investor presentation, the company outlined its plan to divest underperforming segments and...

Metso’s Board of Directors has announced the appointment of Sami Takaluoma as the company’s next President and CEO, with his tenure set to begin on November 1, 2024. The current President and CEO, Pekka Vauramo, will remain with Metso until the end of 2024, as per his contractual agreement, to...

The International Monetary Fund (IMF) has upheld its growth forecast for India, projecting a 7% expansion for FY25 and maintaining its estimate of 6.5% for FY26. These predictions were outlined in the IMF's latest "World Economic Outlook" report. This 7% growth estimate marks a slight improvement of 0.2 percentage points...

HSBC's new CEO, Georges Elhedery, has launched the bank’s most significant restructuring in over a decade, leaving employees and investors seeking clarity on crucial details. The overhaul, which includes merging two of the bank’s largest divisions and eliminating some longstanding regional units, did not provide specifics on potential job cuts...

The UK’s leading meat-free business is looking to rebound from a difficult period with fresh leadership, appointing former Heineken UK executive David Flochel as its new CEO. Flochel will succeed Marco Bertacca, who has led the company since January 2020 and will begin his role next month. The two will...

Last week, the French multinational IT services company Atos appointed Philippe Salle as its new CEO, marking the seventh leadership change in just three years. His role will become effective from 1 February 2025. Jean-Pierre Mustier will act as CEO until January 31, 2025, and will remain a member of...

European CEOs are showing heightened concern compared to their American counterparts regarding the potential impact of Donald Trump's pledge to levy tariffs on all imports if he wins the White House again. Mentions of “tariff" on earnings conference calls in Europe have experienced a significant increase, surpassing the frequency of...

Jeff Jones will step down as the CEO of Apple Corps Ltd, the company announced on Monday, following 17 years in the role. Apple Corps Ltd, founded by the Beatles in 1968 to manage the band’s interests in music, film, publishing, and other ventures, has seen Jones at the helm...

In a notable shift at Disney, the company is set to see its fourth board chair in just over three years, reflecting continued turbulence in the evolving media landscape. Mark Parker, who currently holds the chairmanship, will step down at the close of the year, with Morgan Stanley CEO James...

Chinese foreign direct investment (FDI) in Southeast Asia is growing rapidly but remains concentrated in tertiary industries such as finance, construction, and real estate, particularly in less-developed economies like Cambodia, Laos, and Myanmar. A recent study by Guanie Lim and Chengwei Xu, published on 10 September 2024, suggests that China’s...