Spanish bank BBVA is considering cutting around 3,000 jobs in its home market, or around 10per cent of its payroll there, newspaper Expansion reported on Wednesday, citing sources with knowledge of the situation.
Lloyds Banking Group's outgoing Chief Executive António Horta-Osório set out fresh targets to expand the lender's insurance and wealth business and further cut costs, as the bank resumed a dividend despite a sharp fall in profits for 2020.
SINGAPORE'S second-largest lender OCBC joined DBS in an improved outlook on asset quality, on the back of an "orderly and very well-managed" exit from Covid-19 relief programmes that is "better than expected", said its top executive on Wednesday.
The architect of Australian media reforms being watched around the world claimed victory on Wednesday, even as critics said concessions to the laws forcing Big Tech to pay for news content have given Facebook and Google a get-out clause.
Futures tracking the Nasdaq 100 index fell 1per cent on Wednesday, sliding for a seventh straight session as investors swapped growth-oriented technology shares with stocks that stand to gain the most from an economic rebound.
Hyundai Motor Co will replace battery systems in some 82,000 electric vehicles globally due to fire risks, a problem which combined with an earlier recall is likely to cost the automaker an estimated US$900 million.
In the past, shareholder votes on the environment were rare and easily brushed aside. Things could look different in the annual meeting season starting next month, when companies are set to face the most investor resolutions tied to climate change in years.
Taiwan chipmakers are buying water by the truckload for some of their foundries as the island widens restrictions on water supply amid a drought that could exacerbate a chip supply crunch for the global auto industry.
Hyundai Motor Co will recall 26,699 electric vehicles including Kona EVs in South Korea due to potential fire risks, South Korea's transport ministry said on Wednesday.
CANBERRA: Australian lawmakers are expected to approve amendments to landmark legislation to force Alphabet's Google and Facebook to pay media companies for news content, despite opposition from some minor political parties. The government introduced amendments to the so-called Media Bargaining ...
