Tens of thousands of jobs could disappear in Switzerland following UBS's emergency takeover of its troubled rival Credit Suisse, observers warned Tuesday, as unions demanded a rescue package for banking staff.. "Directly or indirectly, tens of thousands of jobs are potentially threatened," the Swiss Trade Union Federation (SGB) warned in a statement Tuesday.
TikTok CEO Shou Zi Chew said Tuesday that US user numbers had soared to 150 million -- almost half the total population -- as he prepared to fight at US Congress for the Chinese owned site's future.. The Singaporean CEO said he would share with Congress "all that we're doing to protect Americans using the app," in a reference to a proposal called Project Texas that would guarantee a special handling for the data of US users.
Sales of existing homes in the United States made their biggest monthly jump since 2020 in February, ending a year of declines according to industry data released on Tuesday.. As of end-February, total housing inventory was 980,000 units, identical to January and up from a year ago, said the association.
Italy's competition watchdog said Tuesday it had opened an investigation into video app TikTok for failing to enforce its own rules on removing "dangerous content" related to suicide and self-harm.. "The guidelines of the companies who own the platform, which envision the removal of dangerous content that instigate suicide, self-harm and unhealthy nutrition, are not applied," said the watchdog in a statement.
The US banking sector is "stabilizing" after the recent failures of Silicon Valley Bank and Signature Bank rattled the industry, Treasury Secretary Janet Yellen will tell a summit Tuesday, according to prepared remarks.. The Fed also introduced a new lending tool for banks in an effort to prevent a repeat of SVB's quick demise, and has since launched a drive with other major central banks to improve banks' access to liquidity.
EU antitrust investigators have raided energy drink maker Red Bull over suspicions it abused its dominance in the wildly popular market, officials said Tuesday.. Red Bull said EU Commission officials "visited our premises" on Monday.
Days after it was rescued in an emergency buyout, Credit Suisse gathered hundreds of clients in an upscale Hong Kong hotel on Tuesday for a glitzy investment conference where they were told to "embrace the new reality".. - 'Don't sense panic' - While Credit Suisse prepares for life under new management, its Hong Kong clients were told to "embrace the new reality and thrive", according to promotional materials prepared well before the weekend's events.
French President Emmanuel Macron is set to give a televised interview on Wednesday, with the 45-year-old seeking to calm public anger over his pension reform and tamp down spiralling protests and strikes.. Another round of strikes and protests organised by trade unions have been called on Thursday and are expected to again bring public transport to a standstill.
Sri Lanka must not allow entrenched corruption to undermine a bailout for its bankrupt economy, the IMF said Tuesday after signing off on a $3 billion loan for the crisis-hit nation.. "The world has accepted that Sri Lanka is no longer a bankrupt country," he said in a national address.
Sri Lanka must not allow entrenched corruption to undermine a bailout for its bankrupt economy, the IMF said Tuesday after signing off on a $3 billion loan for the crisis-hit nation.. Peter Breuer, the IMF mission chief in Sri Lanka, said the government had agreed to enact tougher anti-corruption laws within months during the bailout negotiations.
