Business

Silicon Valley Bank (SVB) was shut down by United States regulators on Friday (March 10) in a dramatic move that sent global banking shares tumbling as markets panicked over possible contagion from America’s largest banking collapse since the 2008 financial crisis. The US government seized the assets of SVB, a major lender to US software startups since the 1980s, after …

Great Britain – Adidas, stung by the termination of its connection with the artist formerly known as Kanye West, needs a new focus but should be more strategic in its pursuit of new celebrity alliances, according to industry analysts. Incoming chief executive Bjorn Gulden defended the company’s decision to sever relations with the rapper, known as Ye since 2021, on …

JPMorgan Chase & Co. has filed a lawsuit against Jes Staley, its former head of private banking and later the CEO of Barclays, accusing him of tying the firm up with sexual criminal Jeffrey Epstein and claiming that Staley himself has been accused of sexual assault. The largest US bank filed two complaints on Wednesday night, March 8, in Manhattan …

Singapore’s Keppel Corporation is pursuing expansion opportunities in emerging economies such as Vietnam, which is gaining pace as a manufacturing base for investors trying to diversify away from China. In an interview with Nikkei Asia, the CEO of the company, Loh Chin Hua, stated that enterprises have adopted a “China plus one” approach in an effort to diversify investments away …

According to a new survey, tech salaries in Singapore increased in 2022 despite a wave of IT layoffs and a halt in hiring. According to a survey by tech salaries aggregator Nodeflair and venture capital firm Iterative, “the outlook for 2023 in the tech talent and recruiting market is likely to reflect a continuous demand for tech talents, but at …

Former MasterCard CEO Ajay Banga, US Vice President Joe Biden’s choice to lead the World Bank, met with executive directors on March 1 as part of a “charm offensive” to secure the position, according to three persons familiar with the situation. Biden selected the 63-year-old Indian-born business executive to lead the global development bank and jumpstart the 77-year-old institution’s revamp …

Chef Vallerie “Val” Castillo-Archer launched a brand-new menu for Philippine Airlines last Friday, in anticipation of the company’s 82nd anniversary in March. Chef Val, a native of Ilocos Norte, was the first female and first Filipino-American executive chef of the renowned Los Angeles restaurant Yamashiro before PAL contacted her to create the brand new menu. Chef Val accepted because she …

Concerns regarding TikTok’s acquisition, use, and disclosure of personal information have prompted Canada to begin a joint federal and provincial inquiry, the Privacy Commissioner of Canada announced on Thursday, February 23. The federal privacy regulator, together with provincial counterparts in Quebec, British Columbia, and Alberta, will investigate whether TikTok’s methods comply with Canadian privacy rules, according to a statement from …

Wednesday, February 22, JPMorgan Chase & Co. stated that it should not be held accountable for a former executive’s ties with Jeffrey Epstein in a lawsuit alleging the largest US bank of aiding its former client’s sex trafficking organization. JPMorgan stated in a court statement in Manhattan that communications between former executive Jes Staley and Epstein did not support the …

Nikkei Asia reported on Thursday, February 23, that Apple’s Chinese contract manufacturer Luxshare Precision Industries Co Ltd will assist develop the iPhone maker’s long-awaited augmented reality (AR) device. Luxshare has taken over the AR development team in Shanghai, which was previously controlled by Taiwan’s Pegatron, according to a source quoting people familiar with the subject. Luxshare is the first company …