Business
Morocco’s Deposit and Management Fund has appointed Mustapha Lahboubi as head of its Savings and Providence division, a central unit responsible for managing key national retirement and regulated savings schemes. The appointment took effect on June 1 and marks a leadership change within one of......
FedEx Freight, the less-than-truckload logistics division of FedEx Corp, is preparing to begin trading as an independent company on the New York Stock Exchange under the ticker symbol “FDXF”, following the completion of its long-planned corporate separation. The spinoff marks a major restructuring......
The United States Postal Service (USPS) has announced a multi-year agreement with DHL eCommerce to provide last-mile parcel delivery services across the United States, in a deal expected to exceed $10 billion in value. The partnership strengthens DHL’s presence in the American logistics market......
French energy giant TotalEnergies made significant crude oil purchases in the Middle East after its trading teams observed unusual military activity in the Gulf region earlier this year, according to the company’s chief executive. CEO Patrick Pouyanné stated in an interview that traders......
Global consultancy firm Alvarez & Marsal (A&M) has officially opened its first office in Africa, located in Cape Town, South Africa, marking a strategic move to strengthen its presence on a continent increasingly attracting international investment. The expansion comes at a time when global......
The Israeli web development company Wix.com has announced a major workforce reduction, cutting around 20% of its staff, which represents more than 1,000 employees worldwide. The decision comes as the company faces economic pressure linked to a strong Israeli shekel, which has affected its financial......
Toronto-Dominion Bank, one of Canada’s major financial institutions, reported a significant increase in its quarterly profit, driven mainly by stronger interest income supported by a stable domestic economy. The bank, officially known as Toronto-Dominion Bank, benefited from higher earnings in......
Shareholders of Exxon Mobil Corp have approved the company’s plan to relocate its legal headquarters to Texas, marking a significant victory for the energy giant amid ongoing debates over corporate governance and investor influence. The decision follows recommendations from major proxy advisory......
Bank of America expects its trading revenue to increase by about 15% in the second quarter compared with the same period last year, according to CEO Brian Moynihan. The projection reflects improved performance in global financial markets following a period of heightened volatility last year, when markets......
One MobiKwik Systems Ltd is aiming to build a loan book of around 50 billion rupees (approximately $522.5 million) through its non-banking financial company (NBFC) operations over the next three to five years, according to its chief executive officer. The Gurugram-based fintech firm, known for its digital......
Boeing is increasing production of its 737 aircraft following discussions with the Federal Aviation Administration (FAA), marking a new step in the company’s efforts to stabilize and expand its manufacturing output. According to Boeing CEO Kelly Ortberg, the company plans to raise monthly production......
American Airlines Group is planning to significantly expand its technology operations in India by doubling the workforce at its Hyderabad tech hub to around 800 employees by early next year, according to sources familiar with the matter. The expansion reflects a broader trend among global airlines and......
Shareholders of Chevron voted against a proposal that would have required the company to appoint an independent chairperson separate from the chief executive officer role. The decision was announced during the company’s annual shareholder meeting in Houston. The proposal aimed to separate the......
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