NYCB names new chairman after Moody’s downgrades bank’s credit rating to junk
NYCB has been in free fall since reporting a surprise loss last week, along with mounting losses on commercial real estate and the need to slash its dividend.
Renewables giant Orsted exits several offshore wind markets, pauses dividend after turbulent year
Danish renewables giant Orsted on Wednesday announced plans to cut jobs and exit several offshore wind markets after a tumultuous year of rising costs.
UK homebuilder Barratt to buy rival Redrow in 2.52 billion pound deal
Britain’s biggest homebuilder Barratt will buy Redrow in an all-stock deal valuing its smaller rival at about 2.52 billion pounds ($3.18 billion).
Netanyahu rejects ceasefire proposal, insists on total victory over Hamas
According to a draft document seen by Reuters, the Hamas counterproposal envisions three phases lasting 45 days each.
Siemens Energy swings to profit on order surge, sale of Indian stake
Siemens Energy swung to profit in its first fiscal quarter on the back of a surge in orders and a one-off gain from selling a stake in its Indian affiliate.
Clocktower’s chief strategist says Chinese stocks will likely rally 10% to 15% from here
Chinese stocks will likely climb by at least 10% as authorities signal concerted support efforts, said Marko Papic, chief strategist at Clocktower Group.
CNBC Daily Open: Tech layoffs continue to hit
There appears to be no letup in Silicon Valley’s march to downsize, or rather to “right-size.”
China’s Bytedance says Zhang Nan resigns as Douyin Group’s CEO
TikTok owner Bytedance said on Wednesday that Zhang Nan has resigned as the CEO of Douyin Group, the popular short video platform’s sister app in China.
Sri Lanka targets debt restructuring framework in first 6 months of 2024, says president
Sri Lanka expects to implement a debt restructuring framework within the first six months of 2024, the country’s president said on Wednesday.
DBS slashes CEO’s variable pay by 30% after multiple digital disruptions
DBS Group cut the variable compensation for its senior management to “hold them accountable” for a number of digital disruptions that year.
