Author: Tammy Cunningham

LONDON (Business Emerge Finance Desk): The global shadow banking system expanded at a significantly faster pace than traditional banks last year, pushing the non-bank financial sector to more than half of worldwide financial assets. The segment, which includes financial entities operating outside conventional banking structures, increased its footprint as asset prices rose and borrowing conditions eased. The expansion occurred across a wide range of financial intermediaries that do not take deposits like commercial banks. These entities include investment funds, private credit firms, pension managers, insurers, and other financial vehicles that provide credit or manage large pools of capital. Together, they…

Broadcom’s share price moved lower on Friday as investors reviewed the company’s latest financial outlook, which included a projection of higher revenue for the upcoming quarter while also signalling a possible reduction in margins tied to its expanding artificial intelligence business. The share movement came a day after the company issued its quarterly update, outlining expectations for first-quarter revenue that surpass analysts’ estimates. Trading in Frankfurt reflected a decline of nearly five percent as market participants evaluated the cost structure associated with Broadcom’s AI-related operations. Broadcom has been increasing its presence in the AI semiconductor segment, an area that requires…

TAIPEI (Asia Tech Desk): Foxconn has announced a plan to establish a new headquarters complex in Kaohsiung as part of its broader development strategy for southern Taiwan. The company confirmed that it will allocate T$15.9 billion, equivalent to roughly $510 million, for the project. Foxconn stated that the headquarters site will include commercial and office facilities along with a residential tower. Construction is expected to begin in 2027, and current planning indicates the project could be completed by 2033. Initial details shared by the company show that the upcoming complex will bring together multiple units involved in future technology development.…

ZURICH (Business Emerge/ Europe): The Swiss National Bank said it continues to support the regulatory package designed for UBS that was outlined by the Federal Council earlier this year. The central bank stated that the framework remains aligned with Switzerland’s financial-stability objectives and should be implemented as planned. The confirmation came during a briefing held on Thursday, where Vice Chairman Antoine Martin addressed questions on the status of the June proposals and the implications for the country’s largest financial institution. Martin noted that the central bank’s mandate requires ongoing attention to systemic-risk controls for major lenders operating in Switzerland. Officials…

LONDON (Business Emerge Latest): A new set of recommendations released by the European Central Bank on Thursday presented a restructuring of capital buffer rules for European lenders. The proposal seeks to simplify the current framework without lowering the amount of capital that banks are required to maintain. The ECB detailed the plan during a regulatory update that focused on capital structure, supervisory layers and future stress test design. The document noted that the framework would only be adjusted for clarity and efficiency, not for reducing required cushions. Under the plan, the ECB has outlined a redesigned capital stack built around…

Washington DC (US): Business Emerge Report: Wells Fargo has confirmed plans to reduce its workforce further while implementing artificial intelligence systems across operations starting in 2026, with higher separation costs anticipated during the October-December period. The San Francisco-based financial institution disclosed these plans during a recent financial services industry conference, where Chief Executive Charlie Scharf outlined the bank’s strategic direction for technology adoption and operational efficiency improvements. Scharf stated that budget planning processes completed for the upcoming fiscal year indicate a smaller workforce requirement, independent of any AI-related changes. The executive noted that separation-related expenses are projected to increase during…