Standard Chartered plans to reduce 15% of its back-office corporate roles by 2030, resulting in about 7,800 job cuts out of over 52,000 staff in these functions. The bank, headquartered in London with nearly 82,000 employees globally, is using artificial intelligence and automation to streamline operations and improve profitability. Most affected roles will be in back-office centers in Chennai, Bengaluru, Kuala Lumpur, and Warsaw. CEO Bill Winters emphasized the move is about investing in technology and reskilling staff rather than just cost-cutting, as the bank aims to strengthen growth amid geopolitical uncertainties and rising competition.
In the first quarter of 2026, hedge funds dramatically increased their investments in semiconductor stocks, pushing sector exposure to a record 19% of global hedge fund portfolios, more than doubling since the start of the year. Major investors like ...
Oriental Rise Holdings Ltd. saw its stock price surge 18.84% after hours following a board-approved reverse stock split at a 1-for-4 ratio. The reverse split, approved by shareholders, reduces the number of outstanding shares and increases the per-sh...
Onconetix Inc. stock surged 23.65% in after-hours trading following positive clinical validation of its prostate cancer blood test, Proclarix. Two new peer-reviewed studies from Denmark showed Proclarix can reduce unnecessary biopsies and overdiagnos...
U-BX Technology's stock fell 15.6% in after-hours trading following the announcement of a 1-for-25 reverse stock split effective Friday. The move will reduce the number of outstanding shares significantly to maintain Nasdaq listing compliance. The co...
South Korea's Public Officials Benefit Association (POBA), the country's seventh-largest pension relief firm, lost about $32.7 million on an Ethereum leveraged ETF investment. Leveraged ETFs amplify daily price movements using derivatives, increasing...
