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ZURICH (Reuters) -Credit Suisse is boosting cash payouts for senior bankers, it told employees on Friday, as it tries to retain top performers after a year of scandals saw its shares lose more than a quarter of their value. The bank, which has been hit by a string of scandals and losses, is increasing the cash portion of short term bonuses senior staff receive and reducing the amount they get in shares that vest after one year, according to a memo seen by Reuters. On Thursday, Deutsche Bank said compensation at its investment bank rose 30% in the fourth quarter of last year.
British car production last year fell to its lowest since 1956, largely due to a global shortage of semiconductor chips that caused automakers to slow or shutter plants while waiting for parts, an industry group said on Thursday. The Society of Motor Manufacturers and Traders (SMMT) said production fell 6.7% from 2020 to 859,575 vehicles and was 34% below the pre-pandemic year 2019. "Overall, this was a deeply depressing year," SMMT chief executive Mike Hawes told reporters.
FREDERICTON — The federal agriculture minister is optimistic the United States could approve the resumption of shipments of Prince Edward Island potatoes to Puerto Rico within weeks. Marie-Claude Bibeau and Island MP Lawrence MacAulay met with U.S. officials in Washington Thursday to discuss the ban imposed by Canada on exports of the potatoes in November following the discovery of potato wart in two P.E.I. fields. The fungal parasite spreads through the movement of infected potatoes, soil and f
Oil prices fell on Thursday after Brent crude hit a seven-year high above $90 a barrel, as the market balanced concerns about tight worldwide supply with expectations the U.S. Federal Reserve will soon tighten monetary policy. Prices had surged on Wednesday, with Brent climbing above $90 a barrel for the first time in seven years amid tensions between Russia and the West. Russia, the world's second-largest oil producer, and the West have been at loggerheads over Ukraine, fanning fears that energy supplies to Europe could be disrupted, although concerns are focused on gas supplies rather than crude.
Tenet Fintech Group Inc. (CSE: PKK) (OTC PINK: PKKFF) ("Tenet" or the "Company"), an innovative Fintech and AI service provider and manager of the Business Hub™, unveiled its new brand identity today. Tenet has completed an extensive rebranding effort in response to accelerated company growth and a renewal to its corporate vision.
Vanguard FTSE Canadian High Dividend Yield Index ETF is an ideal investment for income-seeking retirees. The post TFSA Retirees: This ETF Will Help You Generate $3,100 in Tax-Free Income Each Year appeared first on The Motley Fool Canada.
Today, the results of the 19th annual Best New Product Awards (BNPA) were released together with new research by BrandSpark International on Canadians' shopping habits for consumer products. More than 12,000 Canadians voted on the latest beauty, health, personal care, food, beverage, household, home goods and pet products in 77 categories.
In time for the fifth anniversary of the Quebec mosque shooting anniversary and the National Day of Action Against Islamophobia, Islamic Relief Canada is releasing a new report today that sheds light on how everyday Islamophobia affects Canadian Muslims.
LACEY TOWNSHIP, N.J. (AP) — For the second time in as many months, the U.S. Nuclear Regulatory Commission has fined the owners of a former New Jersey nuclear power plant for security-related violations. The agency said Wednesday it fined Jupiter, Florida-based Holtec Decommissioning International $50,000 for security violations at the former Oyster Creek nuclear power plant in the Forked River section of Lacey Township. The plant was one of the oldest in the U.S. when it shut down in 2018. The f
GM's announcement comes just a day after the company unveiled a $7 billion investment plan in Michigan, mainly toward making full-size electric pickups, intensifying a battle with rival Ford Motor Co for EV supremacy in North America. The automaker, which was dethroned as the U.S. sales leader in 2021 by Japanese rival Toyota Motor Corp, plans to boost its North America EV production capacity to more than a million units by late 2025. It will also have to contend with current EV leader Tesla, which will soon open a second U.S. plant in Austin, Texas, and is on pace to sell more than 1 million electric vehicles globally in 2022.
AT&T's top executive in Mexico has urged the government to place limits on its telecom rival America Movil and keep it out of new markets to ensure fair competition, Mexican newspaper Reforma reported on Friday. The warning by Monica Aspe, chief executive of AT&T Mexico, comes days after Mexican regulators withheld a pay TV permit from America Movil amid complaints from rivals the move would further enhance its dominance. Aspe said Mexican regulators needed to maintain an even playing field to keep companies such as AT&T in the country.
CP (TSX:CP)(NYSE:CP) stock saw a drop in earnings of 33% year over year. Inclement weather and an acquisition still weigh on the stock. The post CP Stock Drops After Earnings Fall Short of Estimates appeared first on The Motley Fool Canada.
LONDON (Reuters) -Britain's easyJet said the easing of travel restrictions had spurred demand for summer beach destinations such as Greece, Turkey and Spain, giving the airline cause for optimism after the shadow of Omicron lifts. Its chief executive Johan Lundgren said bookings jumped in Britain when restrictions were reduced earlier this month and were boosted again when the government said testing requirements would end in February. He said easyJet had seen similar trends across Europe, notably in France and Switzerland.
Ripple’s downfall from the last 12-month peak has been almost as harsh as Bitcoin’s, but its recovery might also be more pronounced. The post Is Ripple Primed for 100% Growth in 2022? appeared first on The Motley Fool Canada.
On Jan. 15, Prime Minister Justin Trudeau’s federal government implemented a vaccine mandate that will require unvaccinated Canadian truck drivers undergo testing and quarantine upon entry into Canada. Unvaccinated Canadian truck drivers are also not permitted to enter the United States. The U.S. implemented its own policy on Jan. 22, barring all unvaccinated individuals travelling for essential or non-essential purposes from entering the country. Industry groups had warned the government that a vaccine requirement for truck drivers would create added pressure on an already-strained supply chain system. Backlash to the policy has emerged this week, as truckers and protesters from across the country head to Ottawa for a rally against the vaccine mandate. On this episode of Editor's Edition, Alicja Siekierska and the Public Policy Forum's Sean Speer dig into the trucker vaccine mandate policy, whether the Trudeau government should have moved forward with the policy, and the backlash that has emerged. Speer says that while Trudeau has made mistakes in how he has spoken about the unvaccinated, he argues that the government needs to ‘hold the line’ on the policy. “At its core, the government’s position on these issues is right,” Speer said.
The European Central Bank launched a stress test on Thursday to assess how prepared banks are to deal with potential shocks stemming from climate risk, it said in a statement. The ECB has long warned that euro zone lenders are failing to meet its climate risk management goals, and repeatedly called on them to adjust to its standards more quickly. "This is not a pass or fail exercise, nor does it have direct implications for banks’ capital levels," the ECB said.
BEIJING (AP) — Hong Kong’s economy grew by 6.4% last year after activity weakened as anti-coronavirus controls were tightened. Economic output expanded by 4.8% over a year earlier in the three months ending in December, down from the previous quarter’s 5.5%, government data showed Friday. Growth in consumption and investment weakened. The government has tightened controls on travel into Hong Kong and activity within the territory, mimicking the Chinese mainland’s “zero tolerance” strategy that a
ROME (AP) — Lawmakers and regional representatives failed for a fourth day Thursday to find consensus on a new Italian president, even after the threshold for victory passed to a simple majority for the first time. The center-right abstained outright in the voting, a tactic to maintain the bloc’s unity that drew swift rebukes from other party leaders because it meant the quorum wasn't reached. Blank ballots carried the day as they have every day this week, as political parties continued behind-t
TORONTO — Canada's main stock index gave up early gains but still posted a small increase as crude oil prices hit a more than seven-year high and the central bank kept its key interest rate in check. The Bank of Canada kept its key interest rate at 0.25 per cent, but warned higher interest rates are coming to help trim inflation from its hottest pace in three decades. Despite robust growth in the U.S. economy, an uneven global recovery, supply constraints, inflationary pressures, geopolitical te
(Reuters) -Tesla's most important products this year and next will not be cars, Chief Executive Elon Musk said on Wednesday, but software that drives them autonomously and a humanoid robot. Tesla and other auto technology companies have missed their targets to deploy self-driving cars for years. Musk has built a career on defying skeptics with businesses in electric cars and rockets.