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Julius Baer (Middle East) names Bryan Stirewalt as independent non-executive chairman
Dubai: Julius Baer (Middle East) Ltd., (JBME) today announced the appointment of Bryan Stirewalt as the new Independent Non-Executive Chairman of the JBME Board of Directors. He succeeds Jeremy Parrish, who steps down after four years of service as Chairman and Board member. The new Board composition was approved following JBME’s Annual General Meeting held on 27 April 2026. The appointment is subject to the completion of necessary approvals from the relevant authorities.Regis Burger, Chief Exec...
Global recession looms as IMF warns oil prices could hit $130 per barrel as UK GDP growth downgraded
A global recession threatens the worldwide economy as oil prices risk surging towards $130 per barrel next year, the International Monetary Fund (IMF) has warned.The financial institution has cautioned that crude oil remaining at $120 to $130 per barrel until 2027 risks plunging the world economy into a technical recession.A recession is defined as a period of economic decline when a country experiences two consecutive quarters of negative gross domestic product (GDP).While the UK under Prime Mi...
Ford Shares Take Biggest Leap Since 2020 | Closing Bell
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. (Source: Bloomberg)
Senate Confirms Kevin Warsh as Fed Chair
President Trump’s pick to replace Jerome H. Powell takes the helm at a highly uncertain moment for the economy and with heightened concern about the Federal Reserve’s ability to operate independently.
America's biggest Fintech startup files for bankruptcy; CEO shares 6 'mistakes' he would not repeat
Fintech startup Parker, known for its corporate credit cards and banking services for e-commerce businesses, has filed for Chapter 7 bankruptcy. Despite raising over $200 million, the company reportedly shut down abruptly after acquisition talks failed. This leaves its small business customers in a difficult situation regarding access to funds.
Russian State Duma ratifies agreement on trade in services, investment between Russia, UAE
It provides for the creation of a free trade zone covering services and investment in accordance with Article V of the General Agreement on Trade in Services, and provides more favorable conditions for Russian companies to enter the UAE market and expand their presence
Russian State Duma ratifies economic partnership agreement between EAEU, UAE
It establishes preferential trade regimes for over 85% of goods
Dh30m UAE Lottery: Two lucky participants secure Dh100,000 each – check your numbers
Dubai: In Wednesday’s Dh30 million UAE Lottery Lucky Day draw, several players have secured cash prizes, while the grand prize once again remained unclaimed.During Draw No. 260513, the winning numbers from the Days section were 9, 25, 2, 16, 23, and 5, while the Months section number was 7.Additionally, three residents have each walked away with Dh50,000 under the guaranteed Lucky Chance ID prize category.The winning Lucky Chance IDs were BE2946839, AT1839187, and AY2300136.Get updated faster an...
US Senate confirms Kevin Warsh as Federal Reserve chair, replacing Jerome Powell
Warsh will serve four-year term as chair, taking over amid rising inflation and pressure from Trump to lower ratesThe US Senate confirmed Kevin Warsh as chair of the Federal Reserve, one of the most powerful roles in the federal government that holds enormous sway over the economy.The 54-45 Senate vote on Wednesday was split along party lines, with the exception of Democratic senator John Fetterman from Pennsylvania, who joined the Republican majority. Warsh was confirmed for a four-year term as...
Banks Face A Two-Front War: Inflation And Rising Defaults
MoneyBanking & InsuranceBanks Face A Two-Front War: Inflation And Rising DefaultsByMayra Rodriguez Valladares,Senior Contributor.Follow AuthorMay 13, 2026, 02:42pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.Rising inflation and consumer delinquencies means dark clouds ahead for Wall StreetgettyFor much of the past year, investors and bank regulators hoped the U.S. banking system was moving beyond the regional banking...
Brazil Real Falls on Report Bolsonaro Negotiated With Master CEO
Brazil’s currency slumped Wednesday after a news website linked right-wing presidential candidate Flavio Bolsonaro to Daniel Vorcaro, the former chief executive of a failed bank at the center of a massive fraud probe.
Chip Wilson’s Five-Pillar Plan To Fix Lululemon—Now Executing It Falls To Heidi O’Neill
In Chip WIlson' on-going proxy battle, he released a five-point plan to bring creative leadership to Lululemon. Newly picked Nike's Heidi O'Neill may not be best choice.
Milka maker milked shoppers over size of chocolate bars, German court rules
Brand owner Mondelēz was accused of reducing weight of Alpine Milk bar from 100g to 90g without significantly altering the packagingMany chocolate lovers consider shrinkflation a serious crime – and they have been vindicated after a German court ruled that the makers of Milka cheated consumers by cutting the bar’s size, while keeping the wrapper the same.The three-week case in a regional court was brought by Hamburg’s consumer protection office. It accused the chocolate brand’s US owner Mondelēz...
Insurers Boosting Private Credit Holdings: Study
Bloomberg's Emily Graffeo joins Dani Burger on "Bloomberg Deals." Life insurance companies owned by private equity firms have quietly reshaped their portfolios, piling into higher-yielding alternative credit in a shift that’s entangled the industry with the broader financial system, according to researchers at the Federal Reserve Bank of Chicago. (Source: Bloomberg)
Podcasts Help Brighten iHeart Quarterly Earnings Report
BusinessMediaPodcasts Help Brighten iHeart Quarterly Earnings ReportByFrank Racioppi,Contributor.Forbes contributors publish independent expert analyses and insights. Frank Racioppi is the owner of Ear Worthy, focusing on podcasts.Follow AuthorMay 13, 2026, 01:59pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.ATLANTA, GEORGIA - APRIL 25: Tika Sumpter attends the 2026 Black Effect Podcast Festival at Pullman Yards on Apr...
Trade turnover between Russia, Indonesia has doubled — trade envoy
According to Russia’s trade representative in Indonesia Alexander Masaltsev, the structure of the countries
Lavrov confident trade turnover between Russia, India will reach $100 bln by 2030
According to the Russian top diplomat, such goal was set by the two countries' leaders
"Timely Precautionary Measure": NITI Aayog Vice Chairman On PM's Forex Appeal
The call comes amid escalating tensions in the Middle East that threaten global oil supplies and have pushed energy prices higher, putting pressure on India's import bill and foreign exchange reserves.
Rupee depreciation matter of concern, but no need to get alarmed about it: Ex-RBI chief
Rupee depreciation matter of concern but no need to get alarmed about it ExRBI chief
Households facing energy price hikes could slash bills by more than £250 a year
Regulator Ofgem is preparing to announce an expected jump in its energy price cap, fuelled by the Middle East conflict, but households are being advised to act to more than cancel out any hike