Meta, which owns Facebook, Instagram and WhatsApp, has announced plans to cut 10,000 jobs. It will be the second wave of mass redundancies from the tech giant, which laid off…
Category: Business News
USA: 3 banks collapse, global bank stocks slump despite Biden reassurances
Bank shares in Asia and Europe have slumped, despite reassurances from the US president that America’s financial system is safe following the collapse of three US lenders. The falls come…
Aramco: State-owned oil giant Aramco sees record profit of $161bn
Saudi oil giant Aramco has announced a record profit of $161.1bn (£134bn) for 2022, helped by soaring energy prices and bigger volumes. It represents a 46.5% rise for the state-owned…
USA: The shot on target for Kenyan designer Nthenya Mwendwa at the Oscars
Kenyan fashion designer Nthenya Mwendwa is in Los Angeles with the aim of getting her luxury bags worn and photographed on the Oscars red carpet. Mwendwa’s bags are available for…
UK: BP chief’s annual pay more than doubles to £10m
The boss of BP saw his pay more than double to £10m last year after the oil giant reported record profits on soaring energy prices. Bernard Looney’s pay and bonuses…
Malaysia: Ex-Goldman Sachs boss gets 10 years for 1MDB scheme
The former head of Goldman Sachs in Malaysia will be sent to prison in the US for his role in a massive financial corruption scheme. A US judge sentenced Roger…
USA: Regulators take over failed Silicon Valley Bank
US regulators have shut down Silicon Valley Bank (SVB) and taken control of its customer deposits in the largest failure of a US bank since 2008. The moves came as…
Tanzania: Forex reserves running low
Tanzania and her East African neighbours are facing a foreign currency reserve crisis. President Samia Suluhu Hassan said Tanzania had received requests to offer guarantees for their fuel imports. She…
Kenya: US dollar shortage out of our control – minister
Kenya’s Trade Minister Moses Kuria has said the dollar shortage in the country is beyond the government’s control. Mr Kuria told MPs that the shortage was a global issue but…
Ukraine: Kyiv denies involvement in Nord Stream pipeline blasts
Ukraine has denied any involvement in September’s attack on the Nord Stream pipelines, which were built to carry Russian natural gas to Germany. The denial follows a report from the…