Weekly Global News Wrap: Cash use down to 15% of British shopping transactions; Goldman Sachs to cut senior bonuses

And Credit Suisse closes $4.25b capital raising.

From Reuters:
British shoppers used cash in only 15% of transactions in 2021, half the level of the year before and down from nearly 40% before the COVID-19 pandemic, reports Reuters, based on data released by the British Retail Consortium.

The consortium said that government advice to go contactless during the pandemic, as well as a surge in online shopping, had accelerated an existing shift away from cash.

Debit cards accounted for 67% of transactions last year, up from 54% in 2020, whilst credit cards made up 15%, up from 14%, said the BRC.

From Reuters:
Goldman Sachs' bonus pool for senior employees is expected to shrink by as much as half, reports Reuters, citing a report by the news platform Semafor.

The dealmaking boom on Wall Street has notedly taken a hit from high interest rates and soaring inflation.

From Reuters:
Credit Suisse has announced the final result of its 4 billion Swiss franc or $4.25b capital raise, saying 98.2% of shareholder rights to buy stock at a discount had been taken up in the second part of the fundraising.

Switzerland's second biggest bank said subscription rights for 872.9 million new shares had been used in the capital hike, intended to fund an overhaul.