CEO Explainers

A recent survey by Hong Leong Islamic Bank (HLISB) has found that a significant majority of Malaysian Muslims—about 65%—prefer to use banking and investment products that comply with Shariah law. The survey, which included 690 Muslims ranging from 18 to 77 years old, revealed a strong inclination towards financial products...

New Zealand’s central bank has unexpectedly begun reducing interest rates, signaling a shift towards easing monetary policy earlier than anticipated due to a slowing economy and declining inflation. This move caused the New Zealand dollar to tumble. The Reserve Bank of New Zealand (RBNZ) cut the Official Cash Rate (OCR)...

Kinepolis Group has announced the appointment of Pieter-Jan Sonck as its new Chief Financial Officer, succeeding Jeroen Mouton in the role. With over two decades of expertise in finance and operations, Pieter-Jan Sonck brings a wealth of experience to Kinepolis. Since 2017, he has served as the CFO of Beaulieu...

Home Depot, the largest home improvement retailer in the U.S., has reported that anxiety about the economy and elevated interest rates are dampening consumer spending, leading to a steeper-than-expected decline in sales. On Tuesday, the company announced that it expects a 3% to 4% decrease in sales at stores open...

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...