Banking and Finance

One of the challenges faced by small to medium-sized businesses is maintaining sufficient cash flow. Businesses must receive customer payments on time in order to pay suppliers on time. They may also have difficulty securing loans and lines of credit that allow them to keep sufficient cash on hand. Digital...

The unexpected victory of President-elect Claudia Sheinbaum has triggered a significant decline in the Mexican peso, impacting the fortunes of the country's wealthiest business figures. Since the June 2 election, the combined net worth of five Mexican billionaires, including Carlos Slim and German Larrea, has plunged by $16 billion, totaling...

Aliko Dangote, founder of the Dangote Group and Africa's richest man, has announced plans to establish a major steel production company. This development was revealed during his speech on Wednesday at the Afreximbank Annual Meetings (AAN) and AfriCaribbean Trade & Investment Forum in Nassau. Dangote emphasized the importance of domestic...

Vasiliki Petrou, the founding CEO of Unilever’s Prestige division, has announced her departure from the company. Petrou, who established Unilever Prestige in 2014, led the acquisition of 10 brands, including K18, contributing to a portfolio that achieved $1.5 billion in turnover in 2023. Notably, brands like Dermalogica and Paula’s Choice...

Swiss dairy leader Emmi Group has announced its plan to purchase Lucerne-based coffee roaster Hochstrasser, aiming to enhance its Emmi Caffè Latte ready-to-drink (RTD) coffee line. Since 2004, Hochstrasser has been the coffee supplier for Emmi Caffè Latte, which is available in seven European markets, including Switzerland, France, and the...

In a highly contested referendum, Tesla shareholders have approved a $45 billion compensation package for CEO Elon Musk. The result, announced on Thursday, marks a significant moment as Musk defends the largest-ever pay deal for a US-listed company's executive. This outcome follows a Delaware judge's decision in January to nullify...

Global CEO Laura Maness has announced Sarah Trombetta as the new CEO for Grey's APAC region, effective immediately. Trombetta, who previously led Grey Hong Kong from 2016 to 2019 and currently serves as AMEA chief client officer for P&G at Grey and WPP, will now oversee Grey's operations across APAC....

After years of delays, Woodside has commenced oil extraction from the Sangomar offshore field, located approximately 100 kilometers south of Dakar. The floating production facility boasts a storage capacity of 1.3 million barrels and operates at a depth of 780 meters. It is projected to produce between 100,000 and 125,000...

Carlos Slim, the wealthiest individual in Latin America, has acquired a 3.2% stake in BT, a move that analysts consider a surprising yet strong endorsement of the British telecom company's prospects. Slim, whose net worth is approximately $93 billion, now holds a stake worth around $512 million in the FTSE...

OpenAI, renowned for its AI breakthroughs like ChatGPT, has announced the addition of two significant executives to its team. In a blog post, OpenAI highlighted that these appointments are aimed at enhancing the company's ability to scale and meet the demands of its expanding customer base and the complexities of...