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BofA gets more than $15 bn in deposits after Silicon Valley Bank collapse

The inflows offer a first glimpse into deluge of deposits that made its way to the country's largest banks as customers fearful of a spreading crisis sought refuge in the firms seen as too big to fail

Neelkanth Mishra resigns from Credit Suisse, to head research at Axis Bank

He is part of Indian Prime Minister Narendra Modi's Economic Advisory Council and head of research at Credit Suisse's local unit, according to the bank's website

SVB crisis: Why biz world should worry about the decline of liberal arts

Most companies will have to grapple with the question of establishing the right division of labor between knowledge workers and intelligent machines

Apple delays bonuses for some, limits hiring in latest cost-cutting effort

The majority of Apple's divisions had already moved to a once-a-year schedule for bonuses and promotions, including software engineering and services

Meta to cut 10,000 jobs, close about 5,000 open roles in efficiency push

The Facebook parent company has been marketing 2023 as a "year of efficiency" in an effort to improve its financial performance and achieve longer-term goals

TikTok leadership considers splitting from ByteDance if deal with US fails

A divestiture, which could result in a sale or IPO, is considered a last resort, to be pursued only if the company's existing proposal with national security officials doesn't get approved

Walt Disney Co hunts for person responsible for leaking Ant-Man script

The entertainment giant was granted subpoenas Monday ordering Alphabet's Google, Reddit to turn over any data they have that would identify the person or persons who posted the script on their sites

Samung joins South Korean govt's $400 billion bid to lead in key tech

The company plans to build five memory and foundry fabs in a new chip cluster in Yongin by 2042, where it seeks to attract more than 150 local and foreign chip companies

Donald Trump's Truth Social cuts staff as it awaits merger approval: Report

Some close to Trump Media estimate it can fund operations through September at present spending levels, according to the people

Ukraine war: Is India complying with the Russian crude oil price cap?

Uncertainty about how much India pays is part of the murkiness around Russian oil flows more generally, as the trade shifts from the Atlantic basin to Asia and from large traders to smaller entities

China economy rebounds from Covid slump as consumer spending picks up

Retail sales rose 3.5% from the same period last year, figures from the National Bureau of Statistics showed Wednesday, in line with forecasts and reversing from a 1.8% drop in December

Imran Khan's supporters battle Pakistan police out to arrest him

rotesters pelted the police with stones and broken bottles while a helicopter hovered over Khan's house, television footage showed

'Help us rebuild' deposit base: Silicon Valley Bridge Bank's new CEO

Mayopoulos said on a Tuesday conference call with clients that the future of the bank "is still being charted," and that the company could be recapitalized, taken over by a new owner or wound down

Oil prices continue slump in fallout from Silicon Valley Bank shutdown

Brent crude futures were down $1.11 or 1.3% to $79.66 a barrel at 6.26 PM, having earlier touched a low of $78.76

US, UK, Oz leaders unveil nuclear submarine deal to counter China

The programme will cost up to A$368 billion ($245 billion) over the next three decades, a defence official said on Tuesday, the country's biggest single defence project in history

Credit Suisse sees First Boston IPO by 2025 amid investor search

Credit Suisse announced earlier today that senior leaders in the carved-out unit are expected to receive up to 20% of shares

How shipping industry is trying to clean up its biggest, dirtiest problem

A 2022 report concluded container ships can reduce fuel consumption and CO2 emissions by 14% per voyage if they optimize their speeds

India offers Taliban 'crash course' in economics, leadership, culture

The four-day virtual course that starts Tuesday is called "Immersing with Indian Thoughts," and will be taught by the Indian Institute of Management in the southern city of Kozhikode

Volkswagen sets 180 bn euro spending plan to further new technology

Nearly 70% of the spending in the next half decade will go to electric vehicles and software, up from 56% during the previous rolling plan, VW said Tuesday.

SVB mess: Moody's puts First Republic, 5 other US banks on downgrade watch

The credit rating company cited concerns over the lenders' reliance on uninsured deposit funding and unrealized losses in their asset portfolios