The Latest Breaking News from Mastercard

U.S. Treasury Secretary Janet Yellen said on Saturday that she believes the strong qualifications of the U.S. nominee to lead the World Bank, ex-Mastercard CEO Ajay Banga, will overcome any criticism of the selection process.

Ajay Banga, U.S. President Joe Biden's pick to run the World Bank, will face a tough slate of issues around the institution's finances and capital structure from the get-go, thorny problems he must address as he reshapes the bank into a force for combating climate change on top of its…

Ex-Mastercard CEO has worked closely with Vice President Kamala Harris in efforts to address root causes of migration from Central America

US president puts forward choice to oversee new focus on climate crisis after resignation of Trump appointee David Malpass

Washington (AFP) - US President Joe Biden on Thursday announced the nomination of former Mastercard chief executive Ajay Banga as a candidate to lead the World Bank, after the development lender's current head announced plans to step down early.

U.S. President Joe Biden nominated former Mastercard Inc CEO Ajay Banga to lead the World Bank, betting the India-born executive's ties to the private sector and emerging markets will jump-start the 77-year-old institution's overhaul to better address climate change.

The United States is nominating former Mastercard CEO Ajay Banga to lead the World Bank

But remote work is still “a pretty productive way to get stuff done, as compared to flying to Timbuktu to meet someone," Ajay Baga acknowledges.

Emily Leveille, manager of a Thornburg mutual fund, says easing inflation and a falling dollar could boost foreign stocks.