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Head of the World Bank announces shock resignation

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Published

1 month ago

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February 16, 2023

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David Malpass has stood down as head of the World Bank in the wake of a climate controversy

David Malpass was due to leave end his five year term April 2024.

But the World Bank President has announced he will leave by the end of June.

His departure follows a public spat with the White House for failing to say whether he accepts the scientific consensus on climate change.

He’s faced pressure in recent months from his boss, Treasury Secretary Janet Yellen, who was reportedly at odds with his reforms aimed at changing the way the World Bank operates.

In a statement, Yellen thanked Malpass for his service.

Saying the world has benefited from his strong support for Ukraine, his work to help the Afghan people, and his commitment to helping low-income countries achieve debt sustainability.

The U.S. Government selects the head of the World Bank, while European leaders choose the leader of its larger partner, the International Monetary Fund.

Malpass had accepted the role during President Donald Trump’s time in office.

The U.S. Treasury Chief will soon nominate a replacement for Malpass, promising a new President through a swift nomination process. #trending #featured

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Falling in love with stocks with Nick Quinn

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Published

16 hours ago

on

March 28, 2023

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ticker NEWS

On this week’s episode of Talk Ya Book, Chris Judd is joined by Spatium Capital’s Nick Quinn to discuss the why investors fall in love with stocks, when to sell and why three of his choices are performing strongly.

Proudly presented by Honan.

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Business

Bank battering sees mess start to clean up

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Published

20 hours ago

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March 28, 2023

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What will the future of the banking sector look like?

The once-mighty banking sector has taken a battering over the past month.

From two U.S. banks closing down, to one in Switzerland merging with its biggest rival, the sector has sent shockwaves throughout financial markets around the world.

And another European Bank could be following suit.

But, what will the future of the industry start to look like, once the mess has been cleaned up?

Founder and CEO of Umee, Brent Xu, joined us to discuss.

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Business

Disney to axe 7,000 jobs

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Published

22 hours ago

on

March 28, 2023

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ticker NEWS

The Mouse House will deliver two rounds of layoffs

Disney has announced it will begin to axe 7,000 jobs, as it seeks to control costs and create a more “streamlined” business.

Several major divisions of the company, including Disney Entertainment, Disney Parks, Experiences and Products, and corporate, will be impacted.

Disney will begin notifying the first group of employees who are impacted by the workforce reductions over the next few days.

A second, larger round of job cuts will happen in April, with several thousand more staff reductions.

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