Australia’s flagship airline Qantas has announced its Chief Financial Officer Vanessa Hudson will replace current CEO Alan Joyce. She will become Qantas’ first female boss when she takes over in November. The airline has suffered turbulence in recent times, with record losses during Covid-19 and a series of controversies damaging the brand. Ms Hudson, who…
Banking giant HSBC says its profits got a $1.5bn (£1.2bn) boost from the purchase of collapsed Silicon Valley Bank’s British business (SVB UK). Europe’s biggest bank posted a pre-tax profit of $12.9bn for the three months to the end of March. That is more than three times the amount it made for the same time…
May 1 (Reuters) – Regulators seized First Republic Bank (FRC.N) and sold its assets to JPMorgan Chase & Co (JPM.N) on Monday, in a deal to resolve the largest U.S. bank failure since the 2008 financial crisis and draw a line under a lingering banking turmoil. First Republic was among regional U.S. lenders most battered…
JPMorgan Chase CEO Jamie Dimon’s assertion that recent turmoil in the banking sector was effectively ended by the resolution of First Republic may be premature, one analyst suggested. The Wall Street giant won a weekend auction for the embattled regional lender after it was seized by the California Department of Financial Protection and Innovation, and…
The headline inflation rate in the euro zone rose in April, according to preliminary data released Tuesday, remaining significantly above levels targeted by the European Central Bank but core price growth showed a surprise slowing. Headline inflation came in at 7% for last month, according to Eurostat, after it dropped to 6.9% in March. At…