Italy's largest bank, Intesa Sanpaolo, has completed its first proprietary bitcoin trade, investing $1.03 million into the world's leading cryptocurrency, according to an internal memo. The document, which Reuters reviewed, revealed that the bank now owns 11 bitcoin as of January 13, 2025. Intesa launched a proprietary trading desk for...

United Spirits, the Indian subsidiary of global liquor giant Diageo, announced on Monday that Praveen Someshwar, the current CEO of HT Media, would take over as managing director and CEO, effective April 1. Someshwar is set to succeed Hina Nagarajan, who will transition to a position on Diageo's global executive...

The leadership at Sonos has undergone a dramatic shift as CEO Patrick Spence steps down following a tumultuous year marked by customer dissatisfaction and falling revenues. Spence, who spearheaded the rollout of a redesigned Sonos app in May 2024, faced widespread criticism as the app failed to meet expectations, leading...

Luxury hospitality giant Banyan Group is set to make waves in 2025 with the planned launch of 15 new hotels and resorts, along with five branded residences. These ambitious expansions, which include entries into Tanzania and the Dominican Republic, mark a significant step beyond the company’s traditional stronghold in Asia....

CEOs remain apprehensive about the possibility of a recession as 2025 begins, according to a new survey conducted by The Conference Board. Intensified trade wars also emerged as the top geopolitical risk for business leaders worldwide. The survey included input from 1,722 C-suite executives and board members, including 508 CEOs,...

Garanti BBVA Crypto Asset Trading Platform, a subsidiary of the Garanti BBVA Group, has announced a leadership change with Korcan Abalı stepping down as CEO and Onur Güven set to take over the role. Güven brings extensive experience in financial technology and digital assets, having held senior positions at several...

Cleveland-Cliffs CEO Lourenco Goncalves made headlines on Monday during a press conference, where he unveiled a plan to acquire U.S. Steel and delivered a scathing critique of Japan, referring to the close U.S. ally as "evil." The event, held at Cleveland-Cliffs' Butler Works plant in Pennsylvania, coincided with the five-year...

Germany’s wealthiest individual, billionaire Klaus-Michael Kühne, has donated approximately $308 million (€300 million) to the Hamburg Opera, providing funding for the creation of a new opera house for the company. Kühne had previously contributed to the construction of Hamburg’s iconic Elbphilharmonie, further cementing his legacy as a patron of the...

Jim Williamson has been named the acting Chief Executive Officer of Everest Group and has also joined the Bermudan company’s Board of Directors. His promotion comes in the wake of Juan C. Andrade’s departure, who had served as Everest’s President and CEO since 2020. Williamson’s tenure with Everest began in...