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Credit Suisse posts $1.6 bn loss in fresh blow to recovery, names new CEO

The bank saw net outflows of 7.7 billion francs as clients traded less and cut risk in response to gyrating equity markets

Rolls-Royce names Ex-BP executive Tufan Erginbilgic as CEO to succeed East

Tufan Erginbilgic, 62, spent 20 years at BP Plc, and in his most recent role before leaving in 2020 led the firm's downstream business

Walton family loses $11.4 bn after Walmart slashes earnings outlook

The Walton family fortune fell $11.4 billion on Tuesday after Walmart Inc slashed its earnings outlook for the second time this year

China's appetite for commodities is wavering after years of growth

Energy imports in particular plunged in June, capping a weak first half that may foreshadow a rare annual decline in purchases across many commodities

US Fed rate hike will intensify market risks for Asia's central banks

The expected 75-basis-points interest rate increase from the Federal Reserve this week will heap pressure on its Asian counterparts to speed up monetary tightening

And now sneaky shrinkflation is driving people crazy in the United States

Measuring inflation is hard. The goal is to capture changes in the overall price level - the numbers on every price tag - not swings in relative prices

Wuhan locks down 1 mn residents again in an echo of Covid pandemic's start

A district on the outskirts of Wuhan has been locked down, the first time the Chinese city that saw the world's first Covid-19 lockdown has imposed such a measure since 2020

Manganese and a Chinese company might help India grab a slice of the EV pie

After effectively popularizing safer and cheaper lithium iron phosphate, or LFP, chemistry for EV batteries, China's Contemporary Amperex Technology Co. Ltd. is now adding manganese to the mix

Pak expected to secure $1.2 bn from IMF, may help ease pressure on currency

Pakistan's currency and bonds have been hammered this month as the specter of political uncertainty delaying IMF support for the nation unnerves investors

More than 100,000 British workers off sick with long Covid, earnings hit

Around 110,000 British workers are off sick with long Covid symptoms, costing them £1,100 ($1,320) in lost earnings at a time of an escalating cost of living crisis, new research shows

Rishi Sunak vows to cut VAT on energy to revive UK Tory leadership bid

Announcing a "winter plan" to address inflation and the cost of living, Sunak's campaign said he would introduce a "targeted, temporary and timely tax cut" by removing VAT on domestic energy bills

Saudi prince plans $80-billion fund, IPO for zero-carbon city Neom

The Neom Investment Fund could potentially expand to 400 billion riyals, Crown Prince Mohammed bin Salman told reporters in Jeddah

Alibaba aims to add primary listing in Hong Kong, woo China investors

Removes Ant executives amid shake-up, increased scrutiny

Alibaba to apply for primary Hong Kong listing to woo Chinese investors

Alibaba Group Holding Ltd. will seek a primary listing in Hong Kong, entrenching the financial hub's status as an alternative to US markets and paving the way for Chinese investors

Alibaba removes Ant Executives amid shakeup and increased Chinese scrutiny

Jack Ma's twin empires have been recasting themselves amid closer scrutiny by China's watchdogs on everything from corporate governance to dealings among affiliates.

Here's what to expect in crisis hit-Sri Lanka with a new president in power

Ranil Wickremesinghe told reporters last week that he was no ally of Rajapaksa and his family, who led the nation for most of this decade

China's economy strengthens in July despite housing crisis, covid woes

The center of China's covid outbreak has shifted over the last month, with cases low in Shanghai and surrounding provinces but rising elsewhere, with some new lockdowns and restrictions being imposed

Meta CEO Mark Zuckerberg's biggest bet on WhatsApp might not pay off

Analysts have curbed their estimates for Meta Platforms Inc's , and Zuckerberg's own foreboding comments to staff suggest the numbers won't be good

Reliance Jio, Bharti Airtel, others gear up for mega 5G spectrum auction

The 5G auctions will be a financial boost for Prime Minister Narendra Modi's government, which is trying to tame inflation and rein in the fiscal deficit

Pakistan curbing interbank trade to contain dollar shortage: Report

State Bank of Pakistan asked commercial lenders to manage import-payment requests from their own inflows, such as exporter accruals and remittances