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Credit Suisse investors hit the panic button

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Investors are worried about the financial health of Credit Suisse after the bank’s shares plunged.

The bank’s Chief executive attempted to reassure investors last week, but his efforts seem to have fallen short.

Credit Suisse is due to unveil a restructuring plan at the end of the month, and many are concerned that it won’t be able to weather the storm.

Its shares fell by about 10%, before recovering slightly, after the bank’s boss failed to reassure investors.

Last week’s the bank’s CEO tried to reassure investors that the bank’s financial foundations are solid.

A report in the Financial Times claims that executives at the Swiss bank spent much of the weekend seeking to calm key stakeholders about its financial strength.

Shares in Credit Suisse have been sliding over the past year amid fear’s over the bank’s financial position.

In July, the bank announced a strategy review and replaced its chief executive with an asset management expert.

According to Reuters, the Bank of England is monitoring the situation together with Swiss regulators.

The bank has been hit by scandal after scandal.

And now the market moves suggest some investors believe the bank is running out of cash.

They can only hope the restructuring effort can right the ship.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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How Elon Musk built his empire

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A plane arrives in China. On board, one of the world’s richest men. He’s come to convince authorities that he should be allowed to set up a brand new factory.

He is Elon Musk.

And this is his first trip to China in three years.

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Amazon employees walk out to protest office policies

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Staff at warehousing giant Amazon have walked off the job to protest the company’s return-to-office program

Over 1,900 Amazon employees pledged to protest globally over proposed changes to the company’s climate policy, layoffs and a return-to-office mandate.

The activist group behind the rally is known as Amazon Employees for Climate Justice (AECJ), who are seeking a greater voice for employees.

“Our goal is to change Amazon’s cost/benefit analysis on making harmful, unilateral decisions that are having an outsized impact on people of color, women, LGBTQ people, people with disabilities, and other vulnerable people,” organisers said.

Over 100 people gathered at the heart of Amazon’s Seattle headquarters on Wednesday. The company said it had not witnessed any other demonstrations.

AECJ said the walkout comes after Amazon made moves “in the wrong direction”.

The company recently has recently overturned a desire to make all Amazon shipments net zero for carbon emissions by 2030.

The company maintains a pledge on climate change.

Amazon spokesperson Brad Glasser told Reuters the company is pursuing a strategy to cut carbon emissions.

“For companies like ours who consume a lot of power, and have very substantial transportation, packaging, and physical building assets, it’ll take time to accomplish.”

AECJ protesters also sought support for the 27,000 staff, who had lost their jobs in recent months —around 9 per cent of Amazon’s global workforce.

The company has also mandated a return-to-office program.

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The Great Resignation vs. The Great Burnout

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As employees recover from the height of the pandemic, the Great Resignation has come to light

 
The pandemic saw the term ‘the great resignation’ coined as thousands of people resigned from their jobs across the U.S. in 2021 and 2022.

Karin Reed, the author of ‘Suddenly Hybrid said the great resignation was a period of employees taking control of their future.

“A lot of people realised in their current environment they were not happy with what they were doing with their job. They chose to vote with their feet and go elsewhere,

In other parts of the world, a spike in resignations was not reported.

However, a higher degree of workers began reporting post-Covid burnout, as they made a return to the office.

“There’s been a blurring of the lines. You have work that’s not confined by a physical space.

“Instead of closing the computer and walk away, our computer is in the next room.”

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