Bloomberg HSBC Holdings Plc is cutting as many as 15% of its 2,000 senior operations managers worldwide, according to Reuters. The reductions are to streamline its management ranks and reduce costs, Reuters said, citing unnamed sources. The cuts, which are already underway, are global and across business units, largely affecting positions with the title of chief operating officer, it ...

  Bloomberg Canada’s banks are spending 1.9% more on bonuses for fiscal 2022 than they did a year earlier, despite a dramatic slowdown in investment-banking activity, as they try to retain talent in the hope of a recovery in the year ahead. The country’s six largest lenders set aside C$19.4 billion ($14.5 billion) for performance-based compensation in the fiscal year ...

  Bloomberg UBS Americas President Naureen Hassan will add responsibility for several digital-focused teams that previously were part of the global wealth-management operation. Hassan, who joined the Swiss bank in October, will oversee the expansion of UBS’s digitally customized banking services, the build-out of wealth management’s digital capabilities, electronic strategy and platforms, and smart technologies and advanced analytics, according to ...

  Bloomberg Credit Suisse Group AG shares surged the most in more than two years after Chairman Axel Lehmann said liquidity was improving and the huge outflows of client assets that spooked markets were coming to an end. Withdrawals at the Swiss lender, which surged to about 84 billion francs ($90 billion) earlier this quarter after rumours about the bank’s ...

  Bloomberg Microsoft Corp. is ready to fight for its $69 billion acquisition of gaming company Activision Blizzard Inc. if the US Federal Trade Commission (FTC) files a lawsuit seeking to block the deal. The Xbox maker hasn’t had conversations with the FTC about remedies or concessions aimed at getting the deal approved. FTC staff is wrapping up its investigation ...

  Bloomberg Volkswagen AG is considering funding coding schools in Mexico and Brazil as part of its strategy to recruit software-savvy employees. The carmaker is already backing similar institutions in the Czech Republic and Germany — including in Berlin and near its Wolfsburg headquarters — and is now weighing to expand, said Gunnar Kilian, the board member in charge of ...

  Bloomberg Porsche has finally made a modern off-road 911. The Porsche 911 Dakar was debuted during a private presentation at the Los Angeles Auto Show. The Stuttgart, Germany-based brand has sent its sports cars off-road since the early 1960s, when drivers Vic Elford and Herbert Linge piloted 911s in gruelling cross-country races. In 1968, a 911 T won the ...

Bloomberg A Salesforce Inc cybersecurity executive has left the company, another shake-up in the top ranks of the software maker that is struggling with slowing revenue growth. The company announced internally in late November that Mark Carter, executive vice president of security, would depart. Carter’s exit from Salesforce’s security division hasn’t been publicly reported. He held leadership roles at Amazon.com ...

  Abu Dhabi / WAM Coinciding with the UAE’s National Day, the December 2 marks the celebration of World Futures Day, which is adopted last year by the United Nations Educational, Scientific and Cultural Organisation (Unesco), in an initiative that reflects the global recognition of the UAE as a role model in shaping the future and the leading position it ...

  Dubai / WAM Amea Power, one of the fastest growing renewable energy companies in the Middle East, announced on Wednesday that it has achieved a financial close to deliver 1 gigawatts (GW) of wind and solar energy projects in Egypt. The landmark 500 megawatts (MW) wind and 500MW solar projects, represent $1.1 billion of investment into the Egyptian economy ...