Current Affairs

Today’s News  Citigroup has increased CEO Jane Fraser’s compensation by 6% to USD 26 million for the year 2023, despite the bank experiencing a nearly 40% decline in profits during a comprehensive reorganization. The details were disclosed in a regulatory filing, revealing that Fraser’s remuneration includes a USD 1.5 million base salary and a USD […]

Today’s News  In a significant move within the financial sector, Capital One has officially revealed plans to acquire Discover Financial for a substantial USD 35.3 billion. This strategic all-stock merger is set to bring together two major players in the American credit card arena, reshaping the industry landscape. The deal values Discover’s stock at 27% […]

Today’s News  U.K. insurers are pressing for the mobilization of a pledged GBP 100 billion (USD 126bn) investment, facilitated by post-Brexit regulatory reforms, to be directed into green infrastructure projects through innovative public-private partnerships. The regulatory changes, known as Solvency II reforms, were promoted by ministers as a significant “Brexit dividend,” easing capital rules and […]

Today’s News  Japan unexpectedly slipped into a recession at the close of the previous year, losing its position as the world’s third-largest economy to Germany. This development has also cast uncertainty on the timeline for the central bank’s departure from its decade-long ultra-loose monetary policy.  Analysts caution about a potential contraction in the current quarter, […]

Today’s News  As Chinese stocks experience a relief rally in anticipation of the New Year holiday, market observers eagerly await Thursday’s release of the latest inflation figures, a critical determinant of whether the economy is making headway in breaking free from the clutches of deflation.  Forecasts, however, present a mixed narrative. Year-on-year consumer price deflation […]

Today’s News  U.S. regulators are taking a proactive stance to directly supervise high-speed traders and select hedge funds in the USD 26tn Treasury bond market. The move, approved by a three-to-two vote by the Securities and Exchange Commission (SEC) in Washington on Tuesday, compels these entities to register with the agency as dealers, aiming to […]

Today’s News  Investors are demanding nothing less than perfection from tech titans this earnings season as the “Magnificent Seven” tech companies, driving the stock market’s growth and profits, face increased scrutiny. Meta Platforms, the parent company of Facebook, marked its best sales growth in over two years, initiated a dividend, and increased its share-buyback authorization by […]

Today’s News  Iran discreetly utilized the services of two major U.K. banks to transfer funds globally as part of an extensive scheme aimed at evading sanctions, allegedly supported by Tehran’s intelligence services. According to documents reviewed by the Financial Times, Lloyds and Santander U.K. facilitated accounts for British front companies, covertly owned by a sanctioned […]

Today’s News  On Thursday, the World Bank announced a groundbreaking initiative to empower member countries affected by natural disasters and other crises. The institution has approved enhancements to its Crisis Preparedness and Response Toolkit, enabling nations to promptly tap into emergency funds, accessing up to 10% of undisbursed funds from existing project loans or facilities. […]

Today’s News  IGO announced on Wednesday its decision to suspend operations at the Cosmos nickel mine in Western Australia due to a significant drop in nickel prices. The company anticipates a write-down of its nickel operations by up to AUD 190 million (USD 124 million). The Cosmos mine will undergo a care and maintenance phase […]