Credit Suisse and UBS shares fell on Monday after Switzerland’s federal prosecutor opened an investigation into the emergency merger of the two lenders. The office of the attorney general said on Sunday that the prosecutor opened an investigation into the state-backed takeover of Credit Suisse by UBS Group last month, looking into potential breaches of […]
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Sight deposits held by the Swiss National Bank declined last week, data showed on Monday, suggesting that Credit Suisse and UBS may have cut back on use of emergency funds offered them to facilitate their planned merger. Total sight deposits – meaning commercial bank cash held by the central bank overnight – fell to 563.566 […]
Futures tracking the S&P 500 and the Nasdaq fell on Monday as soaring oil prices renewed worries of persistent inflationary pressures, while energy stocks surged at the start of the week. Saudi Arabia and other OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day, threatening an immediate rise in […]
The dollar stumbled on Monday, surrendering earlier gains following unexpected oil output cuts from OPEC+, as data showed the U.S. economy continued to slow with declines in manufacturing and construction spending. Data on Monday added to the narrative that the Federal Reserve is near the end of its rate-hike cycle. An announcement on Sunday of […]
Mobilise debriefs on the telecoms calendar’s biggest event of the year The general consensus following this year’s Mobile World Congress (MWC) is in-person events are back. Finally returning to post-pandemic numbers of attendees and exhibitors, 2023 saw a fully-fledged MWC. With so much going on it was impossible for visitors to catch sight of everything, […]
In 2023, it’s likely that we will witness a massive growth in the number of 5G users, humans and machines. But the increase in bandwidth demand this will bring will put enormous pressure on networks, fuelling the growth of 5G analytics-driven automation and software control. Ciena forecasts the following top trends will dominate network innovation […]
The next 12 months will see the enterprise IT market continue to adapt and grow, as new networking and connectivity technologies become available across multiple industry verticals. There is a great opportunity for organisations to pivot their business operations with new levels of automation, security, and intelligence. In this article, we will examine the latest […]
The Fintech reckoning was bound to happen. The industry has been growing steadily since the 2008 financial crisis, but the COVID-19 pandemic was the leading enabler of forced integration into a fragile economic situation. The quicker they climb, the harder they fall. Financial technology (Fintech) has been a growing industry since the late 1960s, even […]
OpenAI has taken ChatGPT offline in Italy after the government’s Data Protection Authority on Friday temporarily banned the chatbot and launched a probe over the artificial intelligence application’s suspected breach of privacy rules. The agency, also known as Garante, accused Microsoft-backed OpenAI of failing to check the age of ChatGPT’s users who are supposed to […]
TikTok has been making headlines ever since it debuted and went viral. Is “viral” even the right word to describe the cultural reset it triggered? Unfortunately, most of these headlines are not in the app’s favor, including adding to the mental health crisis among U.S. teens AND United Arab Emirates (UAE) teens and spreading misinformation […]