February, 2023

• 5 February

  Credit Suisse’s $100 billion data leak faces investigation

  

    Bloomberg Swiss prosecutors are investigating a data leak involving thousands of former Credit Suisse Group AG clients who’d reportedly held $100 billion with the bank, in a case set to further discourage whistleblowing in the secretive country. The Attorney General’s Office confirmed it’s investigating suspected acts of corporate espionage, breach of trade secrets and violations of banking secrecy laws ...

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• 5 February

  BofA CEO pay falls to $30 million for 2022

  

    Bloomberg Bank of America Corp (BofA) Chief Executive Officer Brian Moynihan’s total compensation declined 6.3% to $30 million for his work in 2022, a year in which profit tumbled and the shares sank. The board granted Moynihan $1.5 million in salary and $28.5 million in stock-based incentive awards, the Charlotte, North Carolina-based lender said in a filing. A year ...

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• 5 February

  ANZ bank chief sees a ‘lot more rate rises’ coming in Australia

  

    Bloomberg The chief of one of Australia’s largest commercial banks warned strength of the nation’s economy suggests that markets and home owners should brace for “a lot more rate rises.” The comments from Australia & New Zealand Banking Group Ltd. (ANZ) Chief Executive Officer Shayne Elliot in local newspapers come ahead of an interest rate decision by the central ...

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• 5 February

  SBI profits top estimates amid decline in bad debt

    Bloomberg State Bank of India’s (SBI) quarterly profit rose 69% from the previous year, surpassing analyst estimates, amid heightened interest in the lender’s exposure to billionaire Gautam Adani. Net income was 142.1 billion rupees ($1.74 billion) in the three months through December, as bad-loan ratio narrowed and income from loans rose, according to a statement from the bank. That ...

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• 5 February

  Paytm sees narrower loss after growth push boosts sales

    Bloomberg Paytm, India’s leading digital payments brand, posted a narrower third-quarter loss after its drive to add customers boosted revenue. The net loss in the quarter through December shrank to 3.9 billion rupees ($48 million) from 7.8 billion rupees a year earlier, the company said in a statement. Revenue from operations rose 42% to 20.6 billion rupees, while total ...

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• 5 February

  BMW wants to hitch a hydrogen ride at future truck stations

  

    Bloomberg BMW AG is hoping to piggy-back on future hydrogen fuelling stations for trucks to help solve the protracted issue of building an expensive infrastructure network for cars powered by the alternative fuel. The German luxury carmaker, pushing on with plans for hydrogen models even as EVs proliferate, last year started production of fuel-cell systems for a small test ...

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• 5 February

  Samsung targets double-digit growth in its Galaxy S23 sales

  

    Bloomberg Samsung Electronics Co is counting on demand for premium devices to drive double-digit growth in sales of marquee Galaxy phones in 2023, despite signs the global market may contract a second straight year. The world’s largest smartphone maker, which warned this week that a record smartphone slump may persist well into 2023, expects to outpace the industry by ...

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• 5 February

  Ford slides as CEO says $2 billion profit left ‘on table’

  

    Bloomberg Ford Motor Co. shares tumbled the most in four months after the carmaker missed earnings expectations, blaming poor execution and continued supply shortages. The results show Ford is struggling to balance the transition to electric cars from combustion vehicles. The company is counting on strong sales of gas-burning F-Series pickups and Bronco sport utility vehicles to help foot ...

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• 5 February

  Google invests $400m in ChatGPT rival

    Bloomberg Alphabet Inc.’s Google has invested almost $400 million in artificial intelligence (AI) startup Anthropic, which is testing a rival to OpenAI’s ChatGPT. Google and Anthropic declined to comment on the investment, but separately announced a partnership in which Anthropic will use Google’s cloud computing services. The deal marks the latest alliance between a tech giant and an AI startup ...

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• 4 February

  UAE President, Iraqi PM discuss bilateral relations

    Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Mohammed Shiaa’ Al Sudani, Prime Minister of Iraq, discussed on Friday, in a telephone conversation, the relations, various aspects of cooperation and joint work between the two countries, and ways of developing them to achieve their common interests. President His Highness Sheikh Mohamed and the ...

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