In 2023, Edmonton faced significant challenges with snow removal due to extreme cold weather conditions, which impacted both operations and equipment. The intense cold caused delays in the residential snow-clearing schedule, forcing the city to pause operations for several weeks. Crews found it difficult to maintain their regular pace since low temperatures put both workers
Barclays plans to reduce the share of its investment banking operations as part of a broader strategy to focus more on consumer lending. CEO C.S. Venkatakrishnan announced that this shift reflects the bank’s intention to balance its portfolio by expanding consumer banking, aiming for steady growth beyond the volatile investment banking sector. This move aligns
The Red Sea crisis, marked by attacks on commercial shipping, has prompted oil markets to prepare for disruptions. Although oil flows remain mostly stable, traders and refiners are implementing contingency plans to secure future supplies. Insurance premiums are rising, and some tankers are rerouting around the Cape of Good Hope, which increases voyage times and
HSBC has officially completed the sale of its retail banking business in France to Crédit Commercial de France (CCF), a subsidiary of My Money Group, as of January 1, 2024. This transaction is part of HSBC’s strategic shift to focus more on international wholesale banking, wealth management, and private banking across Europe. Initially announced in
The business community is actively pushing for cuts in interest rates to alleviate financial pressures amid rising operational costs and inflation concerns. In many sectors, particularly small businesses, high borrowing costs have stifled growth and hampered recovery efforts. Business owners argue that with inflation showing signs of easing, now is the right time for central
The digital economy is set to experience exponential growth, reaching an estimated value of $800 billion by 2030. This rapid expansion is driven by several factors, including increased internet penetration, rising incomes, and growing adoption of digital platforms across various sectors like e-commerce, fintech, and online banking. India, for example, is emerging as a major
The global economic system is under immense pressure, with growing calls for a fundamental overhaul. Several factors have converged to highlight its vulnerabilities, including rising inequality, unsustainable debt burdens, climate change, and geopolitical tensions. 1. Inequality and Debt:The current economic model has exacerbated inequality across and within countries. Wealth concentration has reached historic levels,