Pfizer’s Expired Drugs Could Cost Europe $2.2 Billion
A substantial quantity of Pfizer’s Paxlovid, a crucial antiviral drug for Covid-19, has gone unused and expired in Europe, resulting in significant financial losses for purchasers. Stringent restrictions on the eligibility for receiving the medication have led to millions of…
Global debt reaches $307 trillion, a record, and debt ratios are rising – IIF
According to the Institute of International Finance, markets like the United States and Japan were the main drivers of the growth in global debt, which reached a record $307 trillion in the second quarter of the year despite rising interest…
Oil prices decline as investors lose confidence in China
Tuesday saw a decline in oil prices as new data increased concerns about the state of China’s post-pandemic recovery, but losses were restrained by anticipations of an extension of production curbs by key OPEC+ members. Brent crude futures for November…
UBS closes the Credit Suisse Global Markets division.
Credit Suisse, a 166-year-old company that is winding down trading in global securities, said it will reduce the volume of new market activity starting on September 22 while UBS (UBSG.S) integrates its former rival. Clients of Credit Suisse, which trades…
The US’s largest lender increased its stake in digital bank C6.
In a statement on Tuesday, the US’s largest bank, JP Morgan & Co., announced that it has increased its stake in C6, a Brazilian digital bank, to 46% from 40%, without disclosing the financial terms. Since 2021, the C6 had…
Credit Suisse Lawsuit Resolved By UBS, Swiss Finance Blog
According to the news source, Inside Paradeplatz and UBS (UBSG.S) have resolved a legal dispute that Credit Suisse had first filed against the well-known finance blog with headquarters in Zurich. Inside Paradeplatz consented to remove or edit three posts worth…
Objections are raised by the ECB to Italy’s windfall tax on banks.
According to the Corriere Della Sera newspaper on Friday, the European Central Bank (ECB) is getting ready to write to Italy to express concerns over the government’s windfall tax on bank earnings. Rome’s last-week announcement of the tax without first…
The new July yuan loans from China are dipping.
After record-leading In the first half of the year, China’s new yuan loans are projected to drop significantly from June to July. Despite the Sputtering recovery, the central bank seeks to support the economy so that it may surpass the…
Investors are eyeing the rebalancing of US stocks, bonds, and options at the quarter’s end as the first half of the year winds up.
As the first half of the year winds up this week, investors are eyeing the large hedged equity fund’s quarterly updates of its options positions, and portfolio managers’ quarter’s end rebalancing may influence U.S. stock moves. On Friday, it is…
Employees will be held accountable for their office attendance, stated by Citi.
The bank released a statement on Thursday saying that the employees will be held accountable for adhering to the norms of the hybrid work model at Citigroup. According to the report released by Bloomberg, the bank will monitor whether the…