HSBC announced a deal to buy the U.K. arm of collapsed US tech startup lender Silicon Valley Bank. HSBC agreed to buy the SVB U.K. for £1. The transaction excludes the assets and liabilities of SVB U.K.’s parent company. HSBC Group CEO Noel Quinn, “The acquisition strengthens our commercial banking franchise and enhances our ability to…
Goldman Sachs CEO David Solomon stated that asset management and wealth management will be the growth driver of the bank. Solomon said, “The actual story of opportunity for growth for us in the coming years is around asset management and wealth management. Goldman was already the fifth-biggest active asset manager in the world. There is genuine…
Major economies in the world are coming up with plans to shift from fossil fuels to green hydrogen using low or zero-carbon technologies. Technological innovation, huge money, and tremendous political will are essential to make this shift and it is essential to reduce the greenhouse gas emissions. The blending of green hydrogen and natural gas…
Center for Economics and Business Research (CEBR) says that high-interest rates by most influential central banks in the world to combat the inflation will lead to a recession in 2023. British consultancy in its yearly World Economic League Table said that the global economy crossed $100 trillion for the 1st time in 2022 but will…
