Chinese State Bankers Face Bonus Cuts Of At Least 30% Senior bankers at China’s state-backed financial institutions are preparing for bonus cuts of at least 30% as Beijing presses ahead with sweeping pay reforms across its $69 trillion financial sector, according to Bloomberg . At two major state-owned banks, senior managers — including department heads — saw their 2025 bonuses reduced by 30% to 5...
Chinese State Bankers Face Bonus Cuts Of At Least 30% Senior bankers at China’s state-backed financial institutions are preparing for bonus cuts of at least 30% as Beijing presses ahead with sweeping pay reforms across its $69 trillion financial sector, according to Bloomberg . At two major state-owned banks, senior managers — including department heads — saw their 2025 bonuses reduced by 30% to 50%, according to people familiar with the matter. At a mid-sized national lender, division chiefs experienced roughly a 40% drop in variable pay last year. The cuts are part of a broader campaign by Xi Jinping to promote “common prosperity” and curb what officials describe as the extravagant lifestyles of top bankers. Regulators are also trying to address a pay imbalance in the industry. In many Chinese financial firms, mid-level managers have historically earned more than top executives, whose compensation is capped due to their status as Communist Party officials. Bloomberg writes that late last year, the Ministry of Finance asked major state-backed institutions to submit plans to overhaul compensation structures. While many firms are still waiting for approval, some have already implemented retroactive pay cuts. Bonuses are the main target because variable pay typically makes up 50% to 70% of managers’ total compensation. Meanwhile, international banks with a large presence in Asia, such as HSBC Holdings and Standard Chartered, increased their bonus pools by about 10%. The belt-tightening extends beyond banks. A major state-owned insurer also reduced 2024 bonuses for mid-level managers by at least 30%, according to a person familiar with the decision. Chinese banks posted combined profits of 2.38 trillion yuan ($346 billion) last year, up 2.3%, despite shrinking margins and non-performing loans remaining near record highs. The bonus cuts reflect tighter government control over a sector once known for generous pay. Alongside compensation reforms, authorities have stepped ...
Explore the exciting world of Microsoft (NASDAQ: MSFT) with our contributing expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities! *Stock prices used were the prices of Feb. 4, 2026. The video was published on March 18, 2026. Should you buy stock in Microsoft right now? Before you buy s...
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A crestfallen Jacob Ramsey did not even bother getting to his feet at the Nou Camp. Newcastle United were 6-2 down against Barcelona when the midfielder slipped and inadvertently set Raphinha up with a risky first-time ball right across his own box. Ramsey knew what was about to happen and, sure enough, Raphinha coolly took a touch and fired the ball past a helpless Aaron Ramsdale. A crushed Ramse...
A crestfallen Jacob Ramsey did not even bother getting to his feet at the Nou Camp. Newcastle United were 6-2 down against Barcelona when the midfielder slipped and inadvertently set Raphinha up with a risky first-time ball right across his own box. Ramsey knew what was about to happen and, sure enough, Raphinha coolly took a touch and fired the ball past a helpless Aaron Ramsdale. A crushed Ramsey bowed his head. If ever an image summed up a bruising night of self-inflicted pain for Eddie Howe's side as they crashed out of the Champions League. "Even changing to play lower and deeper and compact space didn't really help us in our efforts," the Newcastle head coach sighed. Newcastle had more than competed with Barcelona in 135 of the 180 minutes of this two-legged tie. The visitors showed immense spirit to twice draw level in the first half of Wednesday's return fixture at the Nou Camp. They were still very much in it at the break despite Lamine Yamal scoring a penalty to put Barca 3-2 up before half-time. But then they lost their heads. Few players score two equalisers at the Nou Camp yet end up on the receiving end of a 7-2 battering like a stunned Anthony Elanga did. "It's just a shame that we lost in the manner we did," he told TNT Sports. "We could have played even better. It was just a game of errors."
It was not long ago that fans and pundits were admiring the power of the Premier League. All six of its clubs competing in the Champions League reached the knockout stages of the competition for the first time. But across two legs of last-16 action, those suggestions of dominance have been dashed with just two teams - Arsenal and Liverpool - progressing to the quarter-finals. Manchester City, Chel...
It was not long ago that fans and pundits were admiring the power of the Premier League. All six of its clubs competing in the Champions League reached the knockout stages of the competition for the first time. But across two legs of last-16 action, those suggestions of dominance have been dashed with just two teams - Arsenal and Liverpool - progressing to the quarter-finals. Manchester City, Chelsea, Newcastle and Tottenham were all eliminated - the first time four sides from a single nation have gone out at the same stage - having each suffered heavy defeats across their respective ties. Overall the four sides conceded 28 goals, suggesting it was a humbling experience for Premier League clubs. While specific issues can be offered for each team, it still begs the question: what went wrong for the English sides in Europe?
Hong Kong’s monetary authority kept its base rate unchanged after a similar move by the US Federal Reserve, as analysts said that the Middle East conflict has added to the uncertainty over the pace of rate cuts this year. The Hong Kong Monetary Authority (HKMA) maintained the city’s base rate at 4 per cent on Thursday. Hours earlier, the Fed also kept its target rate in the range of 3.5 per cent t...
Hong Kong’s monetary authority kept its base rate unchanged after a similar move by the US Federal Reserve, as analysts said that the Middle East conflict has added to the uncertainty over the pace of rate cuts this year. The Hong Kong Monetary Authority (HKMA) maintained the city’s base rate at 4 per cent on Thursday. Hours earlier, the Fed also kept its target rate in the range of 3.5 per cent to 3.75 per cent, after the second meeting of the Federal Open Market Committee (FOMC) this year. “Near term measures of inflation expectations have risen in recent weeks, likely reflecting the substantial rise in oil prices caused by the supply disruptions in the Middle East,” Fed chairman Jerome Powell said in a media briefing after the FOMC meeting. Advertisement “Higher energy prices will push up overall inflation,” he added, “but it is too soon to know the scope and duration of the potential effects on the economy.” The United States’ Dow Jones Industrial Average dropped 1.6 per cent after the rate decision. Advertisement The Fed’s decision was widely expected, with 98.9 per cent of traders forecasting no change and the rest expecting a 25 basis point increase, according to CME FedWatch data based on Fed funds futures contracts on Wednesday.
(RTTNews) - Ahead of Monday's holiday for the Emperor's birthday, the Japanese stock market had ended the two-day slide in which it had stumbled almost 600 points or 1.7 percent. The Nikkei 225 now rests just above the 38,775-point plateau although it figures to head south again on Tuesday. The global forecast for the Asian markets is negative on growing U.S. tariff concerns. The European and U.S....
(RTTNews) - Ahead of Monday's holiday for the Emperor's birthday, the Japanese stock market had ended the two-day slide in which it had stumbled almost 600 points or 1.7 percent. The Nikkei 225 now rests just above the 38,775-point plateau although it figures to head south again on Tuesday. The global forecast for the Asian markets is negative on growing U.S. tariff concerns. The European and U.S. markets were mostly lower and the Asian markets are also expected to open under pressure. The Nikkei finished modestly higher on Friday following gains from the automobile producers, weakness from the financial shares and a mixed picture from the technology stocks. For the day, the index added 98.90 points or 0.26 percent to finish at 38,776.94 after trading between 38,456.53 and 38,808.81. Among the actives, Nissan Motor skyrocketed 9.47 percent, while Mazda Motor jumped 1.86 percent, Toyota Motor dipped 0.17 percent, Honda Motor advanced 0.99 percent, Softbank Group shed 0.65 percent, Mitsubishi UFJ Financial skidded 1.17 percent, Mizuho Financial tanked 2.48 percent, Sumitomo Mitsui Financial sank 0.82 percent, Sony Group spiked 2.17 percent, Panasonic Holdings strengthened 1.35 percent, Hitachi slumped 2.87 percent and Mitsubishi Electric was unchanged. The lead from Wall Street is soft as the major averages opened higher on Monday but faded quickly and finished mixed. The Dow added 33.19 points or 0.08 percent to finish at 43,461.21, while the NASDAQ tumbled 237.08 points or 1.21 percent to close at 19,286.93 and the S&P 500 sank 29.88 points or 0.50 percent to end at 5,983.25. The NASDAQ and the S&P 500 ended the day firmly in the red after President Donald Trump said previously delayed tariffs on Canada and Mexico are "going forward on time." The volatility on Wall Street also came as traders looked ahead to the release of earnings news from Nvidia (NVDA). The AI darling and market leader is scheduled to release its fourth quarter results after the close of trading ...
To many unfamiliar with Chinese civilisation and history, China seems defined by uniformity rather than diversity. But the truth is that the nation is home to 56 officially recognised ethnic groups spanning vast geographic, social and economic areas. The recent passage of a new national law seeking to promote unity and progress among ethnic groups is a sensible step. With a preamble and more than ...
To many unfamiliar with Chinese civilisation and history, China seems defined by uniformity rather than diversity. But the truth is that the nation is home to 56 officially recognised ethnic groups spanning vast geographic, social and economic areas. The recent passage of a new national law seeking to promote unity and progress among ethnic groups is a sensible step. With a preamble and more than 60 articles across seven chapters, the Law on Promoting Ethnic Unity and Progress codifies President Xi Jinping’s instructions on ethnic unity. It establishes core principles, legal safeguards and cultural foundations to foster a “shared spiritual home” and promote harmony within the Chinese nation. The idea is for all ethnic groups to come under the broader umbrella of Chinese civilisation and foster a stronger sense of national identity and unity. Forging a common Chinese identity is the key. While diversity is to be respected and protected, there is a need to transcend ethnic boundaries for advancement. This is achieved by overcoming preferential treatment among ethnic groups. Regardless of origins, they all form an integral part of the Chinese nation. Advertisement With situations in the Tibet autonomous region and Xinjiang Uygur autonomous region under close Western scrutiny, some see the law as a tool for further control and suppression. But it does not mean ethnic groups can no longer preserve their own cultural characteristics and identity. Instead, they are encouraged to embrace the common language of Putonghua and other cultural elements that bind the peoples together as a nation. Essentially, every ethnic group enjoys the same rights and equality and bears the responsibility as part of the Chinese nation. Hong Kong, too, is home to a small but vibrant ethnic minority population, comprising South Asians, Southeast Asians and other non-Chinese residents who have been contributing to the city’s social and economic fabric. Thankfully, racial tension and separatism ha...
A record-breaking fourth quarter was the catalyst behind the surge in Andersen Group (ANDG +13.58%) stock on Wednesday. Investors were obviously impressed with the tax and financial advisory company's performance in that frame, as they bid its stock up by almost 14% across the Hump Day trading session. A veteran operator in a new corporate form For the quarter, Andersen grew revenue by almost 20% ...
A record-breaking fourth quarter was the catalyst behind the surge in Andersen Group (ANDG +13.58%) stock on Wednesday. Investors were obviously impressed with the tax and financial advisory company's performance in that frame, as they bid its stock up by almost 14% across the Hump Day trading session. A veteran operator in a new corporate form For the quarter, Andersen grew revenue by almost 20% year over year to slightly over $170 million. On the bottom line, equity restructuring costs arising from its transformation from a private partnership to a publicly traded company totaled more than $193 million. That drove it far into the red, with a headline net loss of over $193 million ($0.22 per share), from the year-ago deficit of under $10 million. On an operational basis, throughout 2025, Andersen said it provided services to more than 12,350 client groups in its home market in the U.S. That meant a growth rate of nearly 6% from the 2024 level. Of these, 687 contributed more than $250,000 in annual revenue, compared with 629 the year before. Andersen quoted CEO Mark Vorsatz as saying the fourth quarter "capped a record year for the firm, and underscores the strength of our global, multi-dimensional platform and the continued demand for high-value advisory services." Expand NYSE : ANDG Andersen Group Today's Change ( 13.58 %) $ 3.38 Current Price $ 28.27 Key Data Points Market Cap $315M Day's Range $ 25.12 - $ 30.19 52wk Range $ 16.00 - $ 30.19 Volume 1.4M Avg Vol 316K Gross Margin 26.73 % Double-digit growth to repeat? Vorsatz indicated that he and his team expect that momentum to continue. Sure enough, Andersen proffered guidance of $955 million to $970 million in revenue for the full year 2026, representing at least 14% growth over the previous year. The company did not provide a net income forecast. Andersen has a long, if somewhat tangled, history as a high-end advisor on tax and other financial matters. All things being equal, with a frothy economy, it should b...
If you need a cathartic release from the news that Amazon laid off 16,000 workers, Block chopped nearly half its workforce, Atlassian pared back 10% of staffers, and Meta is reportedly considering another massive round of layoffs, all in the name of AI, then we invite you to browse the responses to a recent Sam Altman post on X. Altman, the CEO of OpenAI, shared this on Tuesday: “I have so much gr...
If you need a cathartic release from the news that Amazon laid off 16,000 workers, Block chopped nearly half its workforce, Atlassian pared back 10% of staffers, and Meta is reportedly considering another massive round of layoffs, all in the name of AI, then we invite you to browse the responses to a recent Sam Altman post on X. Altman, the CEO of OpenAI, shared this on Tuesday: “I have so much gratitude to people who wrote extremely complex software character-by-character. It already feels difficult to remember how much effort it really took. Thank you for getting us to this point.” Altman shared on Tuesday. I have so much gratitude to people who wrote extremely complex software character-by-character. It already feels difficult to remember how much effort it really took. Thank you for getting us to this point. — Sam Altman (@sama) March 17, 2026 The problem with that sweet sentiment is that Altman’s company ushered in the AI now being used as an excuse for developer layoffs and fewer junior developer jobs. And it did so by training on massive volumes of code written the old-fashioned way — by the very people he’s now thanking. His post implies that developers’ genuinely difficult-to-master craft is now like a rotary telephone: outdated and unnecessary. Naturally, Altman’s comments attracted memes and responses richer than his post. While some were straight-up angry, (“You’re welcome. Nice to know that our reward is our jobs being taken away”), much of the internet did what it always does: cracked jokes. There are thousands of comments. Some of our favorites: Techcrunch event Disrupt 2026: The tech ecosystem, all in one room Your next round. Your next hire. Your next breakout opportunity. Find it at TechCrunch Disrupt 2026, where 10,000+ founders, investors, and tech leaders gather for three days of 250+ tactical sessions, powerful introductions, and market-defining innovation. Register now to save up to $400. Save up to $300 or 30% to TechCrunch Founder Summit 1,0...