Swiss National Bank (SNB) Vice Chairman Martin Schlegel said Friday (Feb. 23) that physical cash will never disappear from use in Switzerland, despite the popularity of payment apps. Speaking at an event, Schlegel emphasized the importance of cash for a large part of the population,...
Barclays reportedly laid off about 5,000 workers in 2023 as part of a cost-cutting campaign. A spokesperson for the British bank told Reuters Monday (Jan. 8) that most of those cuts happened in Barclays Execution Services, the company’s support unit. “Barclays removed approximately 5,000 headcount globally through...
Peloton Interactive is reportedly grappling with a decline in revenue and growth forecasts. UBS analysts, led by Arpine Kocharyan, have revised the fitness equipment and digital media company’s price target from $8 to $4 due to mounting uncertainty surrounding Peloton’s subscription growth, Seeking Alpha reported Monday (Sept. 25). Data...
The world had fewer millionaires at the end of 2022 than at the beginning. That’s according to a report issued Tuesday (Aug. 15) by UBS and Credit Suisse showing that global wealth fell for the first time since the 2008 financial crisis. “The 3.4% household wealth growth in 2022 was the lowest rate...
March 23, 2023
European real-time payments have seen historic growth in recent years. In fact, some European countries like the U.K., Sweden and Finland have even gone a step further to develop internal payment systems to supplement the Single Euro Payments Area (SEPA) Instant Credit Transfer scheme, a pan-European initiative launched in 2017 that enables ultra-fast euro payments […]
May 14, 2024
BNP Paribas CEO Jean-Laurent Bonnafé reportedly expressed skepticism about the potential for a revival of mergers and acquisitions (M&A) activity in European banking. Speaking Tuesday (May 14) at a shareholder meeting, Bonnafé highlighted the economic challenges of cross-border and domestic deals in the industry, dampening hopes for increased consolidation, Reuters reported Tuesday. Bonnafé’s comments come […]
February 23, 2024
Swiss National Bank (SNB) Vice Chairman Martin Schlegel said Friday (Feb. 23) that physical cash will never disappear from use in Switzerland, despite the popularity of payment apps. Speaking at...
January 08, 2024
Barclays reportedly laid off about 5,000 workers in 2023 as part of a cost-cutting campaign. A spokesperson for the British bank told Reuters Monday (Jan. 8) that most of those cuts...
September 25, 2023
Peloton Interactive is reportedly grappling with a decline in revenue and growth forecasts. UBS analysts, led by Arpine Kocharyan, have revised the fitness equipment and digital media company’s price target from $8 to...
