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Apple to close first unionized U.S. store amid labor tensions
Apple has announced it will shut its Towson, Maryland store, the first of its U.S. locations to unionize, citing declining conditions at the mall and the departure of other retailers. The move has drawn criticism from the union representing workers, which claims the closure may be an attempt to undermine organized labor and is exploring…
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Singapore government offices told to restrict use of air-conditioning
Government offices in Singapore are being told to reduce electricity consumption in a bid to boost the nation’s energy resilience. Measures highlighted by the National Environment Agency include managing operating times and settings for air-conditioning, and turning off non-essential equipment when not in use. Singapore is just one of many countries which is taking steps…
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Central banks’ growing concern over increased geopolitical tensions
A survey of central banks by Central Banking Publications has found that concerns about geopolitical tensions have surged this year and ?are now viewed as the top global risk. The great majority of responses to the survey were received before the February 28 strikes on Iran; January had witnessed the row between the U.S. and…
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Cisco appoints Deloitte veteran Pete Shimer to board to drive AI strategy
Cisco has appointed former Deloitte executive Pete Shimer to its board of directors as it accelerates its push into AI and digital infrastructure. Shimer brings more than 40 years of experience, including senior roles at Deloitte such as COO, CFO, and interim CEO, as well as expertise in transformation, strategy, and corporate development. He currently…
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Stablecoins move toward treasury use
A growing number of CFOs are evaluating stablecoins as practical payment infrastructure rather than speculative crypto assets. PYMNTS says finance leaders are most interested in supplier payments, cross-border transfers and settlements with financial partners, while 88% of firms that receive stablecoin payments convert them immediately into U.S. dollars. Adoption remains early, held back by regulatory…
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NY Fed appoints Citi CEO Jane Fraser to Federal Advisory Council
The Federal Reserve Bank of New York has appointed Citigroup chief executive Jane Fraser to the Federal Advisory Council for a one-year term starting in January, representing her district in advising the Fed on economic and banking issues. Separately, Ms. Fraser highlighted growing geopolitical uncertainty, noting that shifting government policies and global tensions, particularly in…
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