BLOOMBERG Bank of America Corp (BofA), one of the few major Wall Street banks to avoid mass job cuts in recent months, has begun moving investment bankers into busier areas as the industry deals with a slowdown in dealmaking and capital markets. For years, the company has relied on attrition as a way to manage headcount, Chief Executive Officer Brian ...

BLOOMBERG Bitcoin fell to a three-week low, sapped by the collapse of crypto-friendly bank Silvergate Capital Corp and the prospect of higher-than-expected central bank interest rates. The largest token fell as much as 1.9% on Thursday, dropping for a fourth session, and was trading at about $21,780 in Singapore. Smaller coins ranging from Ether and Solana to Avalanche were subdued. ...

BLOOMBERG Silvergate Capital Corp plans to wind down operations and liquidate its bank after the crypto industry’s meltdown sapped the company’s financial strength, sending shares plunging. “In light of recent industry and regulatory developments, Silvergate believes that an orderly wind down of bank operations and a voluntary liquidation of the bank is the best path forward,” the company said in ...

BLOOMBERG Southwest Airlines Co will use Amazon.com Inc servers to help process fare searches, crew scheduling and other software tasks, a modernisation of its technology that comes months after a meltdown stranded thousands of the airline’s passengers. Amazon Web Services (AWS) will become Southwest’s “preferred cloud provider,” the e-commerce giant said, calling the move a “large-scale migration” of the airline’s ...

BLOOMBERG Japan Airlines Co (JAL) halted sales of steeply discounted tickets for domestic flights after demand overwhelmed the carrier’s website. “We are currently investigating and working to restore the connection,” the Tokyo-based company said in a statement, asking customers to refrain from accessing the website until the problem is resolved. Demand for travel within the island nation is picking up, ...

ABU DHABI / WAM The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport in Abu Dhabi has announced the launch of a number of Tesla electric vehicles in cooperation with Arabia Taxi Transportation to support the fleet of environmentally friendly taxis. ITC aims to establish an integrated, clean and sustainable transport environment, keeping pace with developments in ...

ABU DHABI / WAM The Financial Action Task Force (FATF) accredited the Emirati international expert, Dr Waleed Al Hosani, advisor to the Chairman of the National Committee for Combating Money Laundering and Financing of Terrorism and Illegal Organisations, as assessor in current fourth round of assessment of the systems of member countries in the field of combating money laundering and ...

SHARJAH / WAM Sheikha Bodour bint Sultan Al Qasimi, President of the American University of Sharjah (AUS), has emphasised the importance of celebrating the invaluable contributions of women to their communities. In her message to the AUS community on International Women’s Day, Sheikha Bodour said, “Empowering women means empowering societies and nations and opening doors of possibility for communities to ...

DUBAI / WAM etisalat by e& UAE and IBM have announced that IBM will leverage IBM sustainability software to help advance etisalat by e& company’s environmental, social and governance (ESG) strategy. etisalat by e& is committed to monitoring, benchmarking, and enhancing its economic, environmental, and social performance. This effort aims to define clear ESG goals and the roadmap to achieve ...

BLOOMBERG Russia launched a devastating bombardment against cities across Ukraine, killing at least five people and casting hundreds of thousands more into sporadic blackouts with a new mix of weapons that mostly evaded air defenses. The barrage extended Russian President Vladimir Putin’s five-month campaign of air strikes targeting civilian infrastructure including the energy grid, hospitals, schools and residential buildings. At ...