Bank of England Urges Banks to Strengthen Cyber Recovery Against AI Threats
The Bank of England is working with banks to strengthen cyber-recovery plans as artificial intelligence (AI)-powered cyberattacks pose growing risks to the global financial system, Deputy Governor Sarah Breeden said on Thursday. She warned...
Microsoft Warns Green Card Curbs Could Hurt US Tech Competitiveness
Microsoft President Brad Smith has warned that the Trump administration’s move to restrict green-card access for skilled foreign workers could weaken US technological competitiveness and push global talent to other countries, Politico reported on...
US Jobless Claims Rise Marginally as Labour Market Remains Stable
The number of Americans filing new claims for unemployment benefits increased marginally by 1,000 to a seasonally adjusted 199,000 in the week ended October 10, according to the US Labour Department. The figure came...
TSMC Posts Record Profit but Warns of Economic Uncertainty in 2027
Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, reported a record quarterly net profit of T$763.1 billion ($23.59 billion) for the July–September quarter, marking a 69% increase year-on-year. Driven by robust demand...
AI Investment Boom Faces Rising Credit Risks as Default Protection Hits Record Highs
The cost of insuring against defaults by US technology companies hit record highs on Thursday, signalling growing credit stress in the artificial intelligence (AI) investment boom. Rising US inflation and expectations of higher interest...
Bank of America Faces Banker Exodus Amid Intensifying Wall Street Competition
Bank of America is facing growing concerns over the departure of several senior investment bankers, prompting executives to reassure employees and reinforce the bank’s commitment to growth. Among the notable exits was veteran banker...
Albertsons Withdraws 2026 Forecasts as Grocer Launches Turnaround Plan
Albertsons (ACI.N) has withdrawn its fiscal 2026 financial forecasts as the US grocery retailer launches a comprehensive business review aimed at cutting costs, lowering prices and reversing sluggish sales. The company is facing cautious...
European Luxury Sector Loses $350 Billion as China Weakness Persists
European luxury companies have lost approximately $350 billion in combined market capitalisation since the beginning of 2026, as hopes of a sector recovery fade amid persistent weakness in China. The downturn has weighed on...
Bumble to Go Private in $1.3 Billion Deal with Ithaca Holdings
Bumble said on Tuesday it had agreed to be taken private by Ithaca Holdings in a deal valued at $1.3 billion, as the dating app seeks to revive growth amid declining paying users and...
JPMorgan Misses Profit Estimates as IPO Market Slows
JPMorgan Chase reported its first quarterly profit miss in nearly three years on October 13, as market volatility, economic uncertainty and slowing dealmaking weighed on its investment banking and trading businesses. The banking giant...