In his annual letter to shareholders, Warren Buffett revealed that Greg Abel, head of Berkshire Hathaway’s energy division, will soon succeed him as CEO. Buffett, 94, emphasized Abel’s […]
Banks
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Musk Team’s Blitz on Consumer Financial Agency Unsettles Trump Allies
Since its establishment in 2011, the Consumer Financial Protection Bureau (CFPB) has faced criticism from powerful opponents, becoming an early target in Elon Musk’s overhaul of the U.S. […]
Banks
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HSBC to save $1.8 billion over two years under new CEO
HSBC reported annual profits that exceeded estimates, driven by growth in wealth and markets businesses, while unveiling cost-cutting targets under its new CEO Georges Elhedery. The bank announced […]
Banks
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HSBC eyes $1.8 billion in cost cuts by 2026 as new CEO looks to boost returns
HSBC aims to achieve $1.8 billion in cost reductions by 2026 under its new CEO Georges Elhedery, who is focused on enhancing returns. The bank reported 2024 earnings […]
Banks
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HSBC announces share buyback of up to $2 billion as annual profit jumps 6.5%
Europe’s largest lender HSBC on Wednesday reported annual pre-tax profit of $32.31 billion, marginally missing analysts’ estimates, as the bank’s net interest income declined by $3.1 billion from […]
Banks
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Southwest Layoffs Will Take 15% of Its Work Force
Southwest Airlines is set to lay off 15% of its corporate staff as part of a cost-cutting effort. This move, which includes senior leadership, marks the first mass […]
Banks
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Thames Water secures £3bn lifeline after court ruling
Thames Water has won a crucial High Court battle to secure a £3bn rescue loan, staving off the prospect of the debt-laden company coming under government control. The […]