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HSBC's new CEO, Georges Elhedery, has announced a significant restructuring plan, dividing the bank into four key units and establishing geographical divisions to enhance efficiency and navigate geopolitical tensions. The changes will take effect on January 1, 2025, and include the appointment of Pam Kaur as the first female CFO.
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Starbucks is implementing a strict hybrid work policy requiring corporate employees to be in the office three days a week, with potential job loss for non-compliance. This move, led by new CEO Brian Niccol, aims to improve operational efficiency amid declining sales. The policy will take effect in January 2025.
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Standard Chartered has reported a 37% increase in underlying pre-tax profits for Q3 2024, reaching $1.81 billion. The bank has raised its full-year operating income growth forecast to nearly 10% and plans to double investments in its wealth management sector, while also restructuring its retail business.
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As of October 31, 2024, Asian markets, particularly in India and Japan, are experiencing shifts in investor sentiment due to political instability and renewed interest in China's stock market following a stimulus package. This change raises concerns about the sustainability of previous market rallies.
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China's National People's Congress has approved a 10 trillion yuan fiscal package to address local government debt, including 6 trillion yuan for refinancing hidden debts. This comes amid economic challenges and expectations of further measures following Donald Trump's election victory in the US.
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Bitcoin's price has soared above $89,000 following Donald Trump's election victory, driven by expectations of a pro-cryptocurrency administration. The cryptocurrency has more than doubled in value over the past year, with other digital assets also experiencing significant gains amid hopes for favorable regulations.