January, 2023

• 23 January

  Morgan Stanley promotes 184 to managing director in smaller class

  

    Bloomberg Morgan Stanley elevated 184 employees to managing director, a smaller number of promotions to the firm’s top rank from last year. A record 38% are women, pushing the share of female MDs at the New York-based firm up to 24%, according to a person with knowledge of the matter. Of the US-based employees who were promoted, 5% are ...

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• 23 January

  ECB should stick to half-point hikes for months: Holzmann

    Bloomberg The European Central Bank (ECB) should stick to a plan laid out by President Christine Lagarde and continue raising interest rates in half-point steps, according to Governing Council member Robert Holzmann. “We reduced the most recent rate move to 50 basis points from 75 under the assumption that we will hold this pace for a while,” Holzmann told ...

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• 23 January

  Angola central bank delivers 2023’s biggest rate cut to date

    Bloomberg Angola’s central bank carried out the world’s biggest interest rate cut so far this year as it forecasts inflation to slow further. The policy committee dropped the rate to 18% from 19.5%, Governor Jose de Lima Massano told reporters in Luanda, the capital. That’s the steepest cut since July 2018. “This decision was based on the reduction of ...

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• 23 January

  Deutsche Bank plans trader bonus bump

    Bloomberg Deutsche Bank AG is considering slightly higher bonuses for its traders while drastically shrinking those paid to staff who help issue bonds and stocks, reflecting the strong divergence in performance between the two businesses. The German lender is debating an average increase in variable compensation of about 10% for executives buying and selling fixed-income securities and currencies after ...

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• 23 January

  Amazon to invest $35bn in Virginia data centers by 2040

  

    Bloomberg Amazon.com Inc.’s cloud unit will spend $35 billion on new data centers in Virginia by 2040, underscoring its determination to stay ahead of rivals Microsoft Corp. and Alphabet Inc. The investments at multiple locations will create an estimated 1,000 jobs in Virginia, the state said in a news release. Virginia is Amazon Web Services’ (AWS) most important hub, ...

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• 23 January

  Apple delays AR glasses, plans cheaper mixed-reality headset

  

    Bloomberg Apple Inc. is still planning to unveil its first mixed-reality headset this year, but an even more important follow-up product — lightweight augmented-reality glasses — has been postponed due to technical challenges. The company had originally hoped to release the AR glasses after the debut of its mixed-reality headset, which combines both AR and virtual reality, but that ...

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• 22 January

  Cash is king for luxury car buyers this year

  

  Bloomberg Last year proved challenging both for carmakers and buyers. Higher interest rates, dogged inflation and price hikes on gas and consumer goods reduced monthly budgets at home, while automotive brands fought to maintain supply chains and inventories. Some luxury automakers escaped much of the pain, reporting record results. In 2022, Bentley delivered 15,174 vehicles globally, up 4% over 2021. ...

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• 22 January

  Microsoft plans 10,000 job cuts

  Bloomberg Microsoft Corp said it plans to cut 10,000 jobs, or about 5% of its workforce, taking steps to cope with an increasingly bleak outlook that has bruised many of the technology industry’s biggest names. The company will take a $1.2 billion charge in the second fiscal quarter related to the move, which will shave 12 cents off of earnings ...

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• 21 January

  Masdar inks deals to build 5GW of renewables projects in Africa

  

  Abu Dhabi / WAM Masdar has demonstrated its commitment to helping African nations in their clean energy transition by signing agreements at Abu Dhabi Sustainability Week (ADSW) 2023 with three countries – Angola, Uganda and Zambia – to develop renewable energy projects with a combined capacity of up to 5 gigawatts (GW). The agreements were signed under the umbrella of ...

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• 21 January

  Abu Dhabi Integrated Mental Health Conference opens

    Abu Dhabi / WAM Abu Dhabi Health Services Company (Seha) on Friday inaugurated the third Abu Dhabi Integrated Mental Health Conference, which is taking place till January 21 at the Abu Dhabi National Exhibition Centre (Adnec). Held in cooperation with the Department of Health Abu Dhabi (DoH), the conference is part of the capital’s efforts towards driving mental health ...

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