Letter: ‘Strategic autonomy’ is now an EU catchphrase
Strategic autonomy should not be an illusionary search for independence, but rather a strategic management of interdependence, based on diversification of supply chains.
U.S. Justice Department probing Visa over debit-card practices: source
(Reuters) – The U.S. Department of Justice is investigating whether Visa Inc engages in anticompetitive practices in the debit-card market, a source familiar with the matter said on Friday.
U.S. Fed to let bank leverage exemption expire this month, will review rule
WASHINGTON (Reuters) – Big U.S. banks will have to resume holding an extra layer of loss-absorbing capital against U.S. Treasuries and central bank deposits from next month after the Federal Reserve said on Friday it would not extend a temporary pandemic regulatory break due to expire this month. The Fed said it would, however, launch […]
Nokia sees pick up in margins as turnaround takes shape
HELSINKI (Reuters) – Telecoms equipment maker Nokia is forecasting a pick up in profit margins to 10-13% in 2023, as new CEO Pekka Lundmark charts a course to catch up with rivals in the race to deliver 5G networks. Missteps with strategy during the early phase of the 5G cycle have led the Finnish company […]
Roche buys GenMark for $1.8 million to challenge test rivals
ZURICH (Reuters) – Roche is filling a testing portfolio gap by buying U.S.-based GenMark Diagnostics in a $1.8 billion deal that the Swiss pharmaceuticals manufacturer said taps one of the fastest-growing diagnostics areas.
Banks boost European stocks as recovery hopes grow
(Reuters) – Shares of banks and automakers lifted European shares on Monday as investors continued to move into economy-linked sectors on hopes of a solid economic rebound from the coronavirus downturn.
Mexico’s central bank says U.S. stimulus will lift economy, create market challenges
MEXICO CITY (Reuters) – U.S. President Joe Biden’s $1.9 trillion stimulus package will help boost Mexico’s economy and exports but will also create financial market challenges in emerging economies, said Alejandro Diaz de Leon, the governor of Mexico’s central bank.
First Digital goes live as Israel’s first new bank since 1978
JERUSALEM (Reuters) – First Digital Bank, the first new bank in Israel since 1978, started operations on Sunday on a trial basis, and said it planned to open to the public later in 2021. The bank, which Israel’s banking regulator approved last year, has 140 staff and has begun opening accounts and providing all banking […]
US STOCKS-Dow notches fifth straight record high
* Ulta Beauty slumps as revenue forecast disappoints * Benchmark 10-year bond yield hits one-year high * The Nasdaq and S&P 500 post best week in five (Adds 4 p.m. close) NEW YORK, March 12 (Reuters) – The blue-chip Dow powered to its fifth consecutive record high on Friday as investors bought shares that should […]
Changing Patterns of Banking and Spending Require New Skills From Professionals
Not so long ago, withdrawing a hundred rupees from the bank meant going to the branch, filling out the withdrawal slip, waiting in line to get a token, and waiting your turn at the counter for the teller to give you your money. Just the process was so boring, and irritating, that one would do […]
