Nike on Thursday announced that its CEO John Donahoe is stepping down and company veteran Elliott Hill is coming out of retirement to take the helm of the sneaker giant.
Donahoe, who has been Nike’s CEO since Jan. 2020, will retire from his position on Oct. 13. Hill is slated to...
US stocks soared, with the Dow Jones Industrial Average (^DJI) closing above the 42,000 level for the first time amid growing optimism that the Federal Reserve's jumbo interest rate cut will deliver a "soft landing" for the US economy.
The S&P 500 (^GSPC) climbed roughly 1.7%, while the Dow rose...
Singapore-based fintech Xalts is joining forces with smart contracts platform Avalanche, in a move to support financial services, governments, and other enterprise developers in building digital asset platforms for implementing blockchain, tokenisation, and smart contract applications.
Xalts explained that, through its partnership with Avalanche, it will provide out-of-the-box solutions for various use cases...
Manual processing and error rates can be extremely costly for investors. Looking to cut down on the price they need to pay to remedy these mistakes while giving them more alternative investment options, global financial services company, the Bank of New York Mellon Corporation (BNY), has launched Alts Bridge.Alts...
WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market.
With both the jobs picture and inflation softening, the...
Tupperware, known the world over for its plastic food storage containers, has filed for bankruptcy after years of falling popularity and financial troubles.
“Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” Laurie Ann Goldman, president and CEO of Tupperware Brands...
Microsoft and BlackRock are part of a group of companies collaborating to pull together up to $100 billion to develop data centers for artificial intelligence and the energy infrastructure to power them.
The companies are part of the Global Artificial Intelligence Infrastructure Investment Partnership, or GAIIP, which was announced in...
Sept 17 (Reuters) - The trial where U.S. anti-trust regulators made their case to block Kroger's (KR.N), opens new tab $25 billion bid to buy rival grocer Albertsons (ACI.N), opens new tab will conclude on Tuesday, but the deal's legal challenges have just begun, with two more trials this...
Following the experimentation phase of a new ‘UK Regulated Liability Network’ (RLN), UK Finance, the British trade association for the UK banking and financial services sector, has revealed that such a platform could deliver economic value and support innovation in the market.
Since April 2024, UK Finance has worked alongside eleven...
As much as 80 per cent of payment leaders worldwide believe their company requires a complete overhaul of their payment technology stack, according to new research from Primer, the unified infrastructure for global payments.
Unsurprisingly, Primer revealed that 75 per cent of payment professionals expect that payments will become more...
