James Gorman, who helmed Morgan Stanley for over a decade, is set to step into an advisory role at the bank, complete with a yearly stipend of $400,000, access to a company car with a driver, and an office. The 66-year-old concluded his tenure as CEO at the end of...

Microsoft awarded CEO Satya Nadella a substantial pay increase for the 2024 fiscal year, bringing his total compensation to $79.1 million, a significant rise from $48.5 million the previous year. However, the package would have been $5.5 million higher if not for recent cybersecurity breaches. The board’s compensation committee reported...

The Dubai International Financial Centre (DIFC), a key financial hub across the Middle East, Africa, and South Asia (MEASA), has revealed plans for the second edition of the Future Sustainability Forum. Set for December 4-5, 2024, at Madinat Jumeirah in Dubai, the event aims to promote sustainable practices and facilitate...

The Office for North Africa of the Economic Commission for Africa (ECA) recently concluded a two-day high-level policy dialogue in Rabat, Morocco, focused on strengthening small and medium enterprises (SMEs) across the region. The event marked the culmination of a two-year initiative led by the ECA Office for North Africa,...

Last week, CVS Health appointed David Joyner, a seasoned company veteran, as its new CEO, joining a growing number of firms this year that have turned to experienced executives to address investor concerns in a turbulent economic landscape. Joyner replaces Karen Lynch, who led the company for three and a...

Boeing reported significant financial losses for the quarter on Wednesday, with new CEO Kelly Ortberg acknowledging that restoring Boeing’s former reputation would take time. Ortberg, who assumed leadership in August, a month before a strike involving 33,000 members of the International Association of Machinists, stated that the company would focus...

Westpac has announced the appointment of Peter Herbert as acting CEO of its business and wealth division, effective from November 5. Herbert, currently serving as chief operating officer for the same division, will take over from Anthony Miller, who is set to assume the role of Westpac CEO on December...

Global public debt is projected to surpass $100 trillion this year, with the debt-to-GDP ratio expected to approach 100% by the end of the decade, surpassing the levels seen during the pandemic. This warning was delivered by Vítor Gaspar, Director of the IMF’s Fiscal Affairs Department, during a briefing in...

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...