Business and economics news covering markets, companies, trade, labor, macro trends, and financial developments worldwide.
Fiserv CEO Mike Lyons is leaving after 13 months to become CEO of Truist Financial, succeeding Bill Rogers. Takis Georgakopoulos succeeds him immediately at Fiserv. Lyons will start at Truist on Sept. 1, with Rogers serving as executive chairman until 2027.
This commentary argues that China may face a 'zombie' company problem similar to Japan's post-1990 era, where banks kept unprofitable firms afloat through evergreening loans. The author draws parallels between the two economies while acknowledging differences, suggesting that such practices could hinder China's economic recovery by misallocating resources.
Lubrizol Corp. President & CEO Rebecca Liebert said she expects to double the company's revenues in India over the next five years, citing significant investments in the market. She made the statement in an interview on Bloomberg.
Students are demanding more coursework in private equity and private credit. Columbia Business School is building a structured private equity curriculum, Imperial College has folded private credit into courses with industry practitioners, and Edhec Business School made private markets core. Global alternatives assets are forecast to reach $32tn by 2030.
Anil Agarwal expressed confidence in continued dividends as Vedanta splits into five listed companies, separating zinc, copper, aluminum, oil and gas, power, and iron and steel businesses. The demerger aims to accelerate growth for each unit.
This commentary argues that Israel's economy has shown remarkable resilience during the war, adapting like a 'trampoline' through innovation and flexibility. It contends that despite ongoing conflict, key sectors have rebounded, suggesting a unique capacity to absorb shocks and maintain growth.