Business News

The bank crisis has officially found its way across the Atlantic after the collapse of Silicon Valley Bank. After a hasty deal by the regulators, the largest bank in Switzerland, UBS, agreed to buy its long-time rival Credit Suisse for USD 3.2 billion on Sunday.

 The deal, with a staggering 60 percent below Credit Suisse's market capitalization, marked the end of this 166-year-old institution and UBS's status as one of the largest financial institutions in Europe. Credit Suisse also falls victim to the banking system loss, if not directly linked to the…

Among one the twenty most valuable European banks, Swiss bank Credit Suisse was one. But it sunk below the rank 146 on the global list of banks with the biggest market capitalizations as it has almost lost 19 percent of its market cap since March 2023. Fellow Swiss lender UBS has taken it over as a lifeline to save the Swiss economy.

Suisse's stock market value was not as low as $3.2 billion, which it was paid for in the takeover. Thus, observers believe that the bank has been sold for a meagre price. According to the reports, the bank was hit hard by…

About 71 percent of the globe is covered with water, but the percentage falls too low when it comes to safe and fresh water. With "Water Day" on March 22, the UN decided to mark it to celebrate and raise awareness of more than 2 billion people living without access to safe water.

According to the reports by the UN, water stress is a condition when a territory withdraws more than or 25 percent of its renewable freshwater resources. In 2018, only 18.4 percent of the total renewable freshwater resources were withdrawn worldwide. But places are experiencing…

In spite of many turbulences in the banking sector, the Federal Reserve System in the U.S. decided to stay the course and keep raising the interest rates in its fight against inflation. In a two-day meeting of the Federal Open Market Committee (FOMC), Fed chairman Jerome Powell said that a modest 0.25 percent hike is bringing the target range for the federal funds' rates to 4.75  percent to again 5 percent. It is the highest level since 2007.

There is again a rise in the inflation rate in the United Kingdom. U.K. inflation (CPI) hit 10.4 percent in February, while it was 10.1 percent in January. It is 0.5 points higher than the percentage scientists expected. And for the seventh time, the measure of inflation has been in double digits.

The rate has been going down each month since November 2022, but a jump of 0.3 percent in February came as somewhat of a shock. According to the reports, food items and drinks prices have risen the fastest since 1977. Data shows the Bank of England expects to…

Credit Suisse was already struggling with a loss of confidence from the clients even before the fall of Silicon Valley Bank and Signature Bank. After many following scandals and investment failures, the Swiss banking economy suffered a huge outflow of assets and deposits under the management in 2022. This happened mostly in the fourth quarter of 2022 while forcing the Swiss group to utilize the liquidity buffers partially.

The concerns over the bank’s stability and efforts for restructuring, clients already withdrew billion dollars in the first few…

Rule of law is one of the main criteria with which societies and states are measured in terms of their governance functionality. The Rule of Law Index by the World Bank, Finland has been ranked highest, and Venezuela ranked lowest in 2021 when it discusses the quality of the rule of law.

The reports reveals, 4.4 billion people live in such countries where rule of law is declining. According to the reports, the index is based on a survey on the meta-analysis of different data points measuring a country's actual rule of law. If we take an example of the…

China is in the spotlight on providing bilateral emergency loans, a new report found by the AidData research lab at Virginia's College of William and Mary. This is usually a non-transparent practice o the Chinese. The researchers also identified those 22 countries that were bailed out by the Chinese loans when they ran into liquidity problems between 2000 and 2021.

According to the reports, the countries utilized these loans for many years. They rolled over their loans into the subsequent years, including countries like Pakistan, Argentina, Mongolia,…

Recently, China has bailed out some countries because of heavily in debt to China. According to the reports, these countries are mostly located in Africa, Southeast Asia and can also be found in the Central Asia and the Pacific.

As per the data, China held 37 percent of these nations’ debt in 2020. Also, 24 percent of the country’s bilateral debt hails from the rest of the world. The information regarding the “New Silk Road” project finances the construction of the rail, port and land infrastructure worldwide. It has also created much debt to China for…

The megaprojects are going on all over the globe. They have been growing more prominent globally, and most are centred in the Arab Gulf Region. The estimation by construction software company 1Build says before the decade ends, the world is supposed to see the first construction megaproject exceeding $1 trillion in cost estimation.

According to the reports, several projects are on their way to exceeding $100 billion. Four of the nine ongoing megaprojects identified by 1Build, Construction Review, and Construction Magazine, costing more than $100…

The revenue and earnings of AT&T’s slipped into the first quarter from almost a year earlier. But the real news was a slowdown when it comes to subscriber growth for the post-paid phones, it caused the stocks to slump directly in premarket trading.

AT&T has reported earnings of 60 per share after stripping out certain one-off expenses. It is slightly higher than the 58 cents predicted so far. According to the reports, the revenue of $30.1 billion was slightly lower as per the expectations of $30.2 billion.

As the data says, in 2022, AT&T also reported…

The world economy is supposed to grow at roughly 3 percent in the next five years. It is the slower pace since 1990 as told by the head of the International Monetary Fund.

Snapchat parent Snap (SNAP) announced about the first quarter earnings after the bell in April 2023. It is due to the missing expectations on revenue, sending shares plunging in more than 20 percent. Amid a steep decline in the advertiser spending that snap has been struggling and this is hammering the company’s earnings.

According to reports, the social media company’s report is stark contrast to the rival Meta company which is beating the expectations by sending high soaring shares. As per the reports by Bloomberg, the important announcement in…

The Tupperware shares fell almost 50 percent in April 2023 after the company’s warning which might go out of business. The maker of Tupperware containers said that there is substantial doubt regarding its ability to continue as a growing concern until it manages to raise enough assets to stay afloat.

According to the reports, the company’s management with financial advisors seeing at potential investors, cost-saving and downsizing to generate at the same tie preserve liquidity. It also adds, Tupperware has stepped on a journey to turn around the…

With the prices reaching 5 percent over the years, the inflation in the United States cooled down to its lowest point in almost around two years in March 2023. In comparison to February 2023 the pries rose by 0.1 percent. It is less than the month-on-month increase recorded in the months of January and February.

According to the reports, the food prices remained unchanged overall from February and the home food fell by 0.3 percent. Also, the energy prices decreased by 3.5 percent in these months and 6.4 percent over the years. The offset can be seen by…