EUR/USD 1.17561
-0.200%
Gold 4681.68
-0.892%
Oil 96.395
4.764%
USD/JPY 157.138
0.264%
GBP/USD 1.35898
-0.277%
GBP/JPY 213.551
-0.015%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 11, it was reported that Ali Al-Zaidi, a relatively unknown Iraqi businessman, has become a leading candidate for the next Iraqi prime minister after receiving support from US President Donald Trump. Trump not only invited the businessman to Washington but also stated that the US "will support him all the way." However, the White Houses support comes with conditions: Zaidi must exclude Iranian-backed militias from the next Iraqi government and weaken Tehrans influence in Baghdad. Zaidi has previously faced similar pressure from the US. Current and former US officials have stated that Zaidi owns a bank that the US Treasury Department banned from dollar transactions in 2024 due to suspicions of business dealings with a militia leader linked to the Iranian Revolutionary Guard.Goldman Sachs: Expects the Federal Reserve to cut interest rates by 25 basis points each in December 2026 and March 2027, down from previous forecasts of cuts in September and December of this year.May 11 - According to data from the China Passenger Car Association, retail sales of new energy passenger vehicles in April reached 849,000 units, a year-on-year decrease of 6.8% and a month-on-month decrease of 0.3%; from January to April, retail sales of new energy passenger vehicles reached 2.758 million units, a year-on-year decrease of 17.2%.On May 11, the Heilongjiang Provincial Communications Administration issued a notice soliciting public opinions on the "Heilongjiang Provinces 15th Five-Year Plan for the Development of the Information and Communication Industry (Draft for Comment)". The draft states that by 2027, the layout of new information infrastructure will be basically complete. 5G networks will cover cities, counties, towns, and scenic areas. Gigabit fiber broadband will achieve full coverage in urban and rural areas, and key industrial parks will achieve "10-gigabit backbones". By 2030, a high-speed, ubiquitous, integrated terrestrial and satellite information infrastructure, cloud-network convergence, intelligent and agile, green and low-carbon, and secure and controllable intelligent comprehensive information infrastructure will be basically completed.China Passenger Car Association (CPCA) reported that retail sales of passenger cars in China reached 1.384 million units in April, a year-on-year decrease of 21.5%.

Visa Names Insider As the New Chief Executive Officer, Ryan McInerney

Charlie Brooks

Nov 18, 2022 11:41

4.png


Ryan McInerney, an insider, has been nominated as the new chief executive officer of Visa Inc., effective February 1.


McInerney, the payments giant's current president, succeeds Alfred Kelly Jr., who has served as CEO since 2016.


The leadership transfer occurs at a challenging time for the payments industry, as analysts expect impending headwinds from soaring inflation, which has reduced purchasing power and fueled fears of a major economic downturn.


Following the shift, Kelly, who has served as Visa's since 2019, will assume the post of executive chairman of the board.


Kelly's tenure coincided with the growth of financial technology companies and digital lenders, which posed strong threats to traditional businesses like Visa.


Following Charles Scharf's retirement, Kelly, a former president of rival American Express Co (NYSE:AXP), gained management of Visa. Scharf later became the CEO of Bank of New York Mellon Corporation (NYSE:BK) and is now the CEO of Wells Fargo & Company (NYSE:WFC).


Visa revealed quarterly earnings that were beyond forecasts last month as more Americans took advantage of a stronger dollar to venture abroad and spend lavishly on shopping and leisure.


The shares of the largest payments processor in the world have outpaced the S&P 500 Index as of the most recent market close.

Suggestion