Forbes reported that January cuts reached an approximate 15-year high as more than 82,000 employees lost their jobs in US-based companies. The media agent attributes these movements to persistent interest rate hikes during 2023. Société Générale’s planned job cuts make up around 5% of the employees at its headquarters and less than 2% of its…
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The announcement led to a 10% surge in the share price of Italy's second-largest bank, reaching a nine-year peak. It was fueled by its strong earnings performance and a positive outlook in a year when interest rates are anticipated to begin falling. While other major European banks adopted a more reserved stance in their full-year…
Read moreWhat happened to the shares and riskiest securities of European banks after Britain’s disturbing vote to leave the European Union – they plunged. So far the crisis is felt mostly in Italy. Why did this happen to Italy? Italian banks are saddled with about $400 billion of bad loans and lack the financial reserves to…
Read moreCredit Suisse may raise more than $5 billion, after Deutsche Bank had to cancel its dividend.
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