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According to Bloomberg, — The Hong Kong Monetary Authority held its base rate at 5.75% on Thursday after the US Federal Reserve maintained its own interest rate and gave its clearest signal yet that its aggressive hiking campaign is finished. Hong Kong’s borrowing costs have surged in the last two years as the Fed aggressively
Raised rates to fight inflation. The city’s base rate moves in lockstep with the Fed because the local currency is pegged to the greenback. According to Reuters, – South Korea’s vice financial regulator chief said on Thursday that authorities would take innovation more into account in the next stage of regulating cryptocurrencies.
Regulations need to have a balance between investor protection and technological innovation, said Kim So-young, vice chairman of the Financial Services Commission, at a conference held in Seoul on digital currencies. According to Bloomberg, — Asian equities joined a global rally in stocks and bonds
On signs the Federal Reserve will cut rates next year, reigniting a bullish pulse across markets as inflation eases. Australian shares opened higher and Japanese equity futures rose after a rally on Wall Street pushed the SP 500 to the highest level in nearly two years and to within 2% of its peak.
Apple Inc shares touched a new high, helping push the Dow Jones Industrial Average to a record and the Nasdaq 100 to a gain of more than 50% this year. According to Reuters, – Japan’s political scandal looks set to wipe out heavyweights of the ruling party’s once-mighty faction favouring big monetary stimulus, easing the
Path for the Bank of Japan in pulling the economy out of decades of ultra-low interest rates. Prime Minister Fumio Kishida on Wednesday announced he would make changes to his cabinet as he seeks to stem the fallout from a fundraising scandal that has further dented public support for his embattled administration.
According to Bloomberg, — Nasdaq Inc. was hit by a system error Wednesday that impacted thousands of stock orders, leading some to be canceled, according to people with knowledge of the matter. The exchange operator told market participants it’s investigating an order-entry issue
That caused inaccuracies and delays, the people said, asking not to be identified discussing a private matter. Nasdaq’s electronic communication channel, which processes so-called financial information exchange or “FIX” messages, was affected, the people said. According to Reuters, – PDD Holdings’ international facing discount e-commerce platform, Temu,
Filed a lawsuit in a U.S. District of Columbia court on Wednesday alleging rival Shein employed “Mafia-style intimidation” to coerce suppliers that also worked with Temu. According to the filing, Boston-based company WhaleCo Inc, which operates in the U.S. as Temu, alleges China-founded, Singapore-based rival Shein misused intellectual property
Legislation to stop merchants and suppliers working with Temu. According to Bloomberg, — The dollar dropped to a four-month low Thursday as traders digested the clearest signal yet that the Federal Reserve’s aggressive hiking campaign is over. The Bloomberg Dollar Spot Index dropped 0.3% to its lowest since August, extending losses
From Wednesday after Fed officials penciled in a sharper pace of rate cuts than they had seen in September. The US central bank kept rates steady for a third consecutive time. According to Bloomberg, — TMX Group Ltd., the owner of the Toronto Stock Exchange and
Other trading venues, agreed to buy an index provider to the exchange-traded fund industry, expanding deeper into financial data. TMX will pay $848 million to buy the 78% of VettaFi Holdings LLC that it doesn’t already own, financing the deal with bank debt, according to a statement late Wednesday.
According to Bloomberg, — Asian stocks, bonds and currencies look set to rally Thursday after the Federal Reserve signaled it will begin cutting interest rates next year. That’s the view of money managers, analysts and strategists who expect currencies that are sensitive to dollar movements to prove most attractive in early trading in the region.
According to Reuters, – Japan’s central bank is likely to end the year as one of the world’s most dovish, as policymakers look for clues on whether the economy can weather overseas risks and achieve a sustained price and wage growth. With consumption showing signs of weakness and next year’s wage outlook still uncertain,
The Bank of Japan is widely expected to maintain its ultra-loose policy settings next week. According to Reuters, – The U.S. environment regulator does not sufficiently verify that carbon capture and storage projects keep emissions trapped underground and should boost its requirements to ensure companies receiving CCS tax credits provide an actual environmental benefit, a
Watchdog group said on Thursday. CCS is a pillar of U.S. President Joe Biden’s climate plan, but has been criticized by environmental groups for prolonging the use of fossil fuels. Biden’s cornerstone climate law, the Inflation Reduction Act, includes lucrative CCS tax credits.
According to Reuters, – The Hong Kong Monetary Authority on Thursday left its base rate charged through the overnight discount window unchanged at 5.75%, tracking a move by the U.S. Federal Reserve that kept rates steady. HSBC Holdings also said it kept its best lending rate in Hong Kong unchanged at 5.875%.
According to Reuters, – Retail industry association EuroCommerce has lodged a formal complaint with the European Commission over a French law that limits supermarkets’ ability to discount certain consumer products in France. EuroCommerce argues the law, dubbed “Descrozaille” after the French lawmaker who proposed it,
Infringes European Union rules on free movement of goods and services within the single market. In a statement on Thursday the group called on the European Commission to “urgently take action”. According to Reuters, – The German state-owned Securing Energy for Europe GmbH has become
The third company to seek approval from the U.S. energy regulator for liquefied natural gas developer Venture Global to begin construction on its CP2 LNG project in Louisiana. SEFE’s letter to the U.S. Federal Energy Regulatory Commission , dated Monday, highlighted the role of the CP2 LNG project in securing Europe’s energy supply.
According to Reuters, – Australia’s Woodside Energy and rival Santos are unlikely to announce any agreement on a proposed A$80 billion tie-up to create a global oil and gas giant until at least February, said a person with direct knowledge of the talks.
Woodside and Santos last week confirmed speculation they were in preliminary discussions to create a joint entity that would have assets stretching from Australia to Alaska, the Gulf of Mexico, Papua New Guinea, Senegal and Trinidad and Tobago. According to Reuters, – Japanese government bond yields fell on Thursday tracking U.S.
Yields, after the Federal Reserve signaled an end to its tightening cycle and a start to rate cuts next year. However, Japanese yields pared declines in the afternoon after an auction of 20-year JGBs saw poor demand. According to Reuters, – Asian stocks broadly rallied on Thursday, after the U.S. Federal
Reserve flagged the end of its tightening cycle and struck a dovish tone for the year ahead. U.S. Treasury yields slid to a fresh four-month trough, while the dollar continued to slide. According to Reuters, – Indian government bond yields fell sharply, with the benchmark
10-year yield hitting a nearly one-month low, after the U.S. Federal Reserve signalled the end of policy tightening and projected three rate cuts in 2024. The 10-year benchmark bond yield was at 7.2151% as of 10:50 a.m. IST, at the lowest level since Nov. 17, after ending the previous session at 7.2581%.
According to Reuters, – Australia’s ANZ Group said on Thursday it had appealed against a Federal Court decision that found the lender guilty of not disclosing that its underwriters had bought nearly one-third of a share issue worth A$2.5 billion in 2015.
The Federal Court in October found the country’s third-largest bank guilty of breaking disclosure laws by failing to notify the market that between A$754 million and A$791 million of the shares were acquired by its underwriters instead of being placed with investors.
According to Bloomberg, — GoTo Group agreed to its tie-up with ByteDance Ltd.’s TikTok to avoid further market-share losses in online shopping in Indonesia, Chief Executive Officer Patrick Walujo said. The Chinese social media company’s TikTok Shop more than doubled its market share to
11% this year, Walujo said on a conference call with investors Thursday. GoTo’s share of the pie shrank to 23% from 28% over that span, he said. According to Reuters, – As U.S.-made F-16 fighter jets for Ukraine arrive at training
Centres in the United States and Europe, Kyiv’s allies hope the modern aircraft can push Russian planes farther from the frontlines, target radar transmitters more effectively and hunt down more cruise missiles. Commander in Chief of the Ukrainian Armed Forces Valery Zaluzhnyi said in November that
F-16s will be “less helpful” now than they would have been a year ago because Russia has had time to improve its air defences. According to Reuters, – Israel kept up its barrage of the Gaza Strip on Thursday despite intensifying international calls to reduce civilian casualties and address a mounting humanitarian catastrophe.
In central Rafah, in the south of the coastal enclave, 24 people were killed in an Israeli strike that hit two houses, Hamas media said early on Thursday. There was no immediate confirmation from the Palestinian health ministry. According to Reuters, – Top stock exchange operators in Europe are under pressure from
Some investors and brokers to trim and simplify their fees to build a deeper capital market that challenges Wall Street’s allure to new company listings. The European Union has long sought to make its fragmented capital markets more efficient, with Britain also trying to find new ways to attract big-ticket IPOs since Brexit.
According to Reuters, – For the besieged residents of Gaza who have so far survived Israel’s bombs and bullets, a silent, invisible killer is now stalking them: disease. A lack of food, clean water and shelter have worn down hundreds of thousands of traumatised
People and, with a health system on its knees, it’s inevitable epidemics will rip through the enclave, 10 doctors and aid workers told Reuters. According to Reuters, – A dovish shift from the Federal Reserve has put record highs in
Sight for U.S. stocks, even as some investors worry the market may be moving too fast given an uncertain outlook for the economy and corporate earnings. The Fed held interest rates steady on Wednesday and signaled in new economic projections that
The historic tightening of U.S. monetary policy engineered over the last two years is at an end and lower borrowing costs are coming in 2024. According to Reuters, – Argentina’s economy has many problems, and dealing with a mountain of debt repayments over the next two years could determine whether the new government’s
Economic road map succeeds. The country’s total sovereign debt exceeds $400 billion, some $110 billion of which is owed to the International Monetary Fund and to holders of restructured, privately-held eurobonds. According to Bloomberg, — The planned start of billionaire Gautam Adani’s copper plant
In India next year will spur a sharp rise in imports of concentrate, further tightening the global supply of ore on which smelters rely. The Kutch Copper Ltd. facility, with initial capacity of 500,000 tons a year, is slated to come online in March, boosting the country’s potential production of the metal by 80%.
Its launch will coincide with a dramatic drop in the availability of ore after the closure of a major mine in Panama and drastic cuts at operations owned by Anglo American Plc. According to Bloomberg, — The yen climbed by more than 1% against the dollar as traders
Ramp up bets for more aggressive interest rate cuts by the Federal Reserve in 2024 and on lingering speculation about the Bank of Japan’s exit from the negative interest rate. The Japanese currency surged as much as 1.3% to 140.97 per dollar past the four-month high of 141.71 reached last week.
The move came as the Fed on Wednesday signaled a pivot to rate cuts and as investors look to the BOJ’s monetary policy meeting next week for any hints on the timing of its expected exit from the world’s last negative interest rate.
According to Bloomberg, — European equity futures jumped after the Federal Reserve pivoted toward reversing its steep interest-rate hikes ahead of a decision by the region’s own central bank. Contracts on the Euro Stoxx 50 gained 1.2% by 5:27 a.m. in London.
The UK’s FTSE 100 futures climbed 0.9% while futures on Germany’s DAX Index were also higher. According to Bloomberg, — After ramping up borrowing costs for more than a year, all eyes will now be on how forcefully the European Central Bank pushes back against bets on interest-rate cuts.
The extent of its resistance will hinge on fresh projections for the euro-zone economy — arriving on the heels of a surprisingly steep slump in inflation. That outlook may also help the ECB decide whether to hasten its exit from quantitative easing by phasing out reinvestments under the €1.7 trillion pandemic-era PEPP initiative.
According to Bloomberg, — The US is working with allies to create a multinational effort to protect ships passing through the Red Sea in an effort to stem a surge in attacks by Houthi fighters that has provoked unease about commercial trade passing through one of the world’s most vital waterways.
An announcement could come any day following weeks of consultations about the violence, which began after Hamas militants attacked Israel on Oct. 7 and Israel struck back in the Gaza strip. The Houthis — based in Yemen and backed by Iran — vowed to target Israel’s assets until it abandons its campaign to destroy Hamas.
According to Bloomberg, — Oil advanced from a five-month low on positive demand signals including a drop in US inventories and signs the Federal Reserve is preparing to cut interest rates. West Texas Intermediate rose toward $70 a barrel, after climbing 1.3% on Wednesday from its lowest since late June.
Global benchmark Brent was near $75. US crude stockpiles declined for a second week, according to the Energy Information Administration. According to Bloomberg, — Goldman Sachs Group Inc. economists revised their outlook for the Federal Reserve in 2024, now anticipating a faster and steeper set of interest-rate cuts.
Goldman’s economics team, led by Jan Hatzius, highlighted the disinflationary signal seen in Wednesday’s producer price data, which showed gains slowing to less than 1% in November. Combined with downward revisions to previous months, the implication is a softer pace of increases for the Fed’s preferred price gauge, they said.
According to Bloomberg, — The Bank of Japan has become used to being a policy outlier over its decades-long quest to vanquish deflation. It’s likely to be no different in 2024. With inflation above the 2% target for more than a year and a half, Governor Kazuo Ueda
Is widely expected to scrap the world’s last negative interest rate around the time when markets bet the Federal Reserve will start cutting. According to Reuters, – The European Parliament Legal Committee and EU governments reached a deal on new due diligence rules for companies on Thursday, the committee said in a post
On social media platform X, formerly known as Twitter. The new rules propose that big companies in the European Union will have to check and take remedial action if they find their supply chains employ child labour or damage the environment. According to Bloomberg, — Japan’s ruling Liberal Democratic Party agreed to offer more
Tax incentives to companies that administer large wage increases, potentially helping to boost the nation’s chances of achieving the virtuous cycle of pay gains and inflation needed for the central bank to pare stimulus. The LDP’s tax reform panel approved a reform plan for next fiscal year that extends tax
Incentives to large companies that raise wages by 7% or more, designating up to 35% of the value of those increases deductible from corporate taxes if the companies also qualify for credits related to training and childcare support. According to Reuters, – The rouble climbed to a near two-week high on Thursday, approaching
The 89 threshold to a weaker dollar after dovish comments from the U.S. Federal Reserve, while the Russian market awaited an expected interest rate hike to 16% on Friday. The dollar was under pressure on Thursday after the Fed’s latest economic projections
Indicated that the interest rate hike cycle has come to an end and lower borrowing costs are coming in 2024. According to Reuters, – The European Central Bank faces a difficult balancing act on Thursday as it likely slashes its forecasts for growth and inflation while trying to temper speculation about imminent interest rate cuts.
The ECB is certain to leave borrowing costs at record highs, with the only possible policy change relating to the end of its last surviving bond-buying scheme – a legacy of the COVID-19 pandemic. According to Reuters, – Early holiday shopping season discounts from high-end fashion retailers
Like Bergdorf Goodman on New York’s Fifth Avenue raised concern that a lacklustre Christmas could lead to inventory gluts – potentially dragging labels into a discounting spiral that would cheapen their image. The latest U.S. credit card data from Barclays released on Wednesday showed that spending
On luxury goods remained negative in November, down 15% year-on-year after a decline of 14% in October. According to Bloomberg, — Oil demand growth in the key Asian market of India is set to slow next year as the spurt in consumption that followed the pandemic fades, echoing
A slowdown in China and presenting a fresh headwind for prices. Consumption will expand 150,000 barrels a day in 2024, down from about 290,000 barrels a day seen from 2021 to 2023, according to Rystad Energy Head of Oil Trading Mukesh Sahdev.
The drop will return growth near the pace seen from 2011 to 2019, he said. The International Energy Agency, meanwhile, sees growth halving to 100,000 barrels a day, according to its November report. According to Reuters, – Labour unions representing ground service workers at Spanish airports
Plan to strike from late December into early January, Spain’s Iberia, part of the International Airlines Group, said. The country’s two main unions UGT and CCOO have called on workers to walk out between Dec. 29 and Jan. 7, Iberia said in a statement on Wednesday evening, adding the call is “irresponsible”
And “makes no sense”. According to Reuters, – Big tobacco firms shifting to new nicotine products, including Philip Morris International and British American Tobacco, have the most to lose if tobacco alternatives face the same rules as cigarettes, investors and analysts said. The World Health Organization on Thursday urged governments to apply tobacco-style controls
To vapes, saying they are getting new users hooked on nicotine. According to Reuters, – The World Health Organization on Thursday urged governments to treat e-cigarettes similarly to tobacco and ban all flavours, threatening cigarette companies’ bets on smoking alternatives. Some researchers, campaigners and governments see e-cigarettes, or vapes, as a key tool
In reducing the death and disease caused by smoking. But the U.N. agency said “urgent measures” were needed to control them. According to Reuters, – Investors were almost fully pricing in five quarter-point interest rate cuts by the Bank of England during 2024, a day after the U.S. Federal Reserve signalled
It was moving towards cutting borrowing costs. The BoE, which is expected to announce it has kept borrowing costs on hold for a third meeting in a row at 1200 GMT on Thursday, has stressed it is not close to thinking about cuts.
According to Reuters, – Taiwan’s central bank cut its 2023 economic growth forecast for the export-reliant economy due to sluggish global demand, but as expected, it kept rates on hold on Thursday as inflationary pressures ease. The central bank, in a unanimous decision, left the rate at 1.875%, where it has sat
Since March, extending a pause in its current round of tightening which began in March of last year. It raised rates five times by a total of 75 basis points to rein in price pressures. According to Reuters, – The new owner of Swedish truck maker Volvo AB’s former Russian plant
Has relaunched production after a near two-year hiatus, it said on Thursday, and plans to produce 2,000 trucks in 2024. Volvo suspended all sales, service and production in Russia in February 2022, and said in October 2022 that further write-downs might be necessary.
In 2021, Russia accounted for about 3% of its net group sales of about 372 billion Swedish crowns . According to Reuters, – Virgin Australia has reached a cabin crew pay deal with unions that had called for strikes ahead of the busy end-of-year travel season, the airline said on Thursday.
The in-principle agreement is for 15%-plus salary increases over three years, depending on an employee’s skill and tenure, Virgin Australia said in a statement. According to Reuters, – The Swiss National Bank held its policy interest rate steady at 1.75% on Thursday, kicking off a busy day for central banks around Europe, which are
Also expected to pause following their monetary policy tightening campaigns after inflation ebbed. The Swiss central bank, which over the last 18 months had raised rates from negative 0.75% before pausing in September, also kept its interest rate on sight deposits at 1.75%.
According to Bloomberg, — Vivendi SE is considering splitting up its media and entertainment empire into several companies to better take advantage of each unit’s strength. Since listing Universal Music Group two years ago, the French company said it has “endured a significantly high conglomerate discount,” reducing its valuation and limiting growth
Opportunities for its subsidiaries, according to a statement on Wednesday. According to Bloomberg, — Beaten down corners of European stock markets, such as Swedish real estate stocks and mining companies, soared after the Federal Reserve pivoted toward reversing its steep interest-rate hikes.
The Stoxx 600 Index was 1.7% higher by 8:34 a.m. in London, led by real estate and miners. Among individual movers, Vivendi SE jumped after the French company said it is considering splitting up its media and entertainment empire into several companies to better take advantage of each unit’s strength.
According to Reuters, – The Swiss National Bank is focused on maintaining access to cash so that its use by consumers and companies remains unrestricted, Vice Chairman Martin Schlegel said on Thursday. “Any threat of a downward spiral within the cash system should be countered at an early
Stage,” said Schlegel in a speech after the central bank made its latest interest rates decision. According to Reuters, – Norway’s central bank raised its benchmark interest rate by 25 basis points to 4.50% in a surprise decision on Thursday as it sought to combat persistent
Inflation, and said it would likely stay put at that level for some time ahead. Of the 27 economists polled in advance by Reuters, 15 had expected rates to stay on hold on Thursday while a minority of 12 had forecast a hike to 4.50%.
According to Reuters, – China’s central bank is expected to ramp up liquidity injections while leaving the key interest rate unchanged when it rolls over maturing medium-term policy loans on Friday, a Reuters survey showed. Among thirty-two market participants polled this week, 29 or 91% expected the People’s
Bank of China to keep the borrowing cost of one-year medium-term lending facility loans unchanged, while the remaining three projected a marginal interest rate cut. According to Reuters, – China’s cost to produce solar panels has plummeted 42% in the last year, according to a report published on Thursday, giving manufacturers there an enormous advantage
Over rivals in places like the United States and Europe. The dramatic decline comes as the world’s largest solar panel producer has ratcheted up production capacity this year while the United States is incentivizing its own small industry to take on China.
U.S. producers are concerned the wave of new factories could make their own uneconomical. According to Reuters, – Europe’s top court on Thursday scrapped an EU order to Amazon to pay 250 million euros in back taxes to Luxembourg, part of EU antitrust chief Margrethe Vestager’s crackdown against sweetheart deals between multinationals and EU countries.
“The Court of Justice confirms that the Commission has not established that the tax ruling given to Amazon by Luxembourg was a State aid that was incompatible with the internal market,” the Luxembourg-based Court of Justice of the European Union said. According to Bloomberg, — Norway’s central bank pushed ahead with another hike in borrowing
Costs, acting to shore up the krone just as the US Federal Reserve leads a probable global pivot toward easing. Fulfilling what it had flagged just last month as “likely,” Norges Bank lifted its key deposit rate by a quarter point to 4.5%, an outcome predicted by only a minority of economists
In a Bloomberg survey. The krone surged after the decision. According to Reuters, – China’s newest refiner and petrochemical producer Yulong Petrochemical Corp has hired a former trading executive of state major PetroChina as general manager for its newly-established Singapore trading unit, according to five persons familiar with the matter.
Xia Hongwei, a veteran with PetroChina’s trading vehicle PetroChina International who served as the managing director of PCI’s Singapore operation for nearly 20 years till late 2019, was hired by Yulong to lead the refiner’s oil and petrochemicals trading business in Singapore.
According to Reuters, – Beijing-based AI startup 01.AI is raising up to $200 million in fresh capital, two sources familiar with the matter said, building on a valuation of $1 billion reached last month on the back of surging global interest in open-source AI models.
It is one of several Chinese startups that opened, or plan to open, to public use their large language models , alongside larger firms Meta and Alibaba in a scramble to gain users and catch up with market leader OpenAI. According to Reuters, – Sterling was on the front foot against the dollar on Thursday
Ahead of a Bank of England meeting at which analysts expect rate-setters to push back on expectations of early cuts in 2024, a different stance from the Federal Reserve a day earlier. The pound rose 0.3% to $1.2653, a 10-day high after rising 0.4% overnight.
According to Reuters, – The United States wants to form the “broadest possible” maritime coalition to protect ships in the Red Sea and send an “important signal” to Yemen’s Houthis that further attacks will not be tolerated, the U.S. envoy for Yemen told Reuters.
The Iran-aligned Houthis have attacked vessels in Red Sea shipping lanes and fired drones and missiles at Israel since the start of the Israel-Hamas war in Gaza over two months ago, heightening fears of a wider conflict in the Middle East. According to Reuters, – Indonesian copper smelter operator PT Smelting, a joint venture
Between Mitsubishi Minerals Corp and PT Freeport Indonesia, inaugurated on Thursday an expansion in capacity of its smelter facility in East Java. The processing capacity was expanded to 1.3 million metric tons of copper concentrate, from 1 million tons previously. It was unclear when production at the expanded facility would commence.
According to Reuters, – Vietnamese investment management firm VinaCapital is considering the sale of SkyX Solar in a deal that could value the Ho Chi Minh City-headquartered solar rooftop power developer at over $100 million, three sources with knowledge of the matter said.
The potential sale comes at a time when renewable companies and assets have become increasingly attractive as investors look to tap growth in the sector driven by global drive to transition to zero-emission economies. According to Reuters, – Annual inflation may approach 8% in Russia this year, President
Vladimir Putin said on Thursday, a day before the central bank is widely expected to hike interest rates again to rein in soaring prices. Most analysts polled by Reuters expect the Bank of Russia to raise its key rate by 100
Basis points to 16% on Dec. 15, with inflationary pressure exacerbated by labour shortages and lending growth in addition to soaring government spending and a weak rouble. According to Reuters, – U.S. director Greta Gerwig, who packed theatres this summer with the pink-themed movie phenomenon “Barbie”, was named as jury president for the 2024 Cannes
Film Festival on Thursday. “This is an obvious choice, since Greta Gerwig so audaciously embodies the renewal of world cinema, for which Cannes is each year both the forerunner and the sounding board,” said festival president Iris Knobloch and festival director Thierry Fremaux in a joint statement.
According to Bloomberg, — The Swiss National Bank called an end to its tightening cycle and signaled a shift in its currency policy as it kept borrowing costs unchanged after inflation slowed emphatically below its ceiling. “Monetary conditions are currently appropriate,” President Thomas Jordan said in Bern.
“Our conditional inflation forecast is now within the price stability range over the entire forecast horizon for the first time in some time.” According to Bloomberg, — Vivendi SE is considering splitting up its media and entertainment empire into several companies to better take advantage of each unit’s strength.
Since listing Universal Music Group two years ago, the French company said it has “endured a significantly high conglomerate discount,” reducing its valuation and limiting growth opportunities for its subsidiaries, according to a statement on Wednesday. According to Reuters, – Russian President Vladimir Putin said on Thursday that Russian
Forces were strengthening their positions on almost all fronts of the Ukraine war. Putin said at his annual news conference that Ukraine had lost some of its best troops in an attempt to secure a foothold on the east bank of the Dnipro River in the Kherson region.
According to Reuters, – Saudi oil giant Aramco is boosting its big data and artificial intelligence unit that links up its assets to help maximise profit, assisting on decisions from trading to acquisitions, a senior executive told Reuters. “We have 70 people working on this, we’re still adding more,” Yasser Mufti, Aramco’s
Executive vice president for products and customers, said in an interview offering rare insight into its operations. According to Reuters, – Venezuela’s President Nicolas Maduro is expected in Saint Vincent and the Grenadines on Thursday to meet with Guyanese President Irfaan Ali, amid high tensions over a dispute involving a potentially oil-rich border area.
Disagreement over the 160,000-square-km jungle region of Esequibo has run for decades, but Venezuela revived its claim, including to offshore areas, in recent years after major oil and gas discoveries. According to Reuters, – Stock markets sprinted to their highest in over a year and a half
And borrowing costs and the dollar tumbled on Thursday, as traders bet that Europe’s top central banks would join the U.S. Fed later in signalling interest rate cuts for next year. Switzerland’s central bank was already out the blocks pointing to subdued global growth
And it was a fast start for Europe’s STOXX 600 which leapt 1.6% to its highest in almost 2 years ahead of Bank of England and European Central Bank decisions later. According to Reuters, – President Vladimir Putin said on Thursday Russia would press
On with its war in Ukraine unless Kyiv did a deal that took Moscow’s security concerns into account, adding that the goals of the “special military operation” would in any case be met. Fielding questions from the public and the media at an event dominated by the war, Putin
– who has announced he will seek another six-year presidential term in March – said his original goals in Ukraine had not changed and that Russian forces were improving their position along most of the front line. According to Bloomberg, — Amazon.com Inc. won a dispute at the European Union’s top
Court against a €250 million bill for allegedly illegal tax breaks. The EU’s Court of Justice in a binding ruling on Thursday dismissed the European Commission’s appeal, saying EU regulators had “not established” that a tax arrangement between Amazon and Luxembourg “was a state aid that was incompatible with the internal market.”
According to Reuters, – India’s benchmark indexes hit all-time highs on Thursday, joining a global rally after the U.S. Federal Reserve bolstered expectations of an interest rate cut in March 2024. The NSE Nifty 50 index rose 1.23% to 21,182.70, while the SP BSE Sensex advanced 1.34% to 70,514.20.
According to Reuters, – Growth is projected to almost halve in developed and big emerging market economies in the coming decades, requiring higher taxes to keep debt from rocketing, the OECD forecast on Thursday in an update of its long-term economic projections.
While speeding up the switch to cleaner energy could further weigh on activity, effective carbon pricing schemes could yield windfall revenues for some governments, the Organisation for Economic Cooperation and Development said. According to Yahoo Finance,US bankruptcy filings are picking up steam after a two-year decline.
According to a report released by SP Global Market Intelligence, there were 591 bankruptcy filingsas ofNov. 30 this year, just behind 2020’s tally of 603 in the same period. By comparison, there were 367 filings at this point in 2021 and 325 in 2022.
According to Reuters, – General Motors CEO Mary Barra has made many bold moves during a decade on the job to lift the automaker’s share price: jettisoning money-losing operations in Europe, promising to outsell Tesla in the electric-vehicle market and betting billions on developing a profitable robotaxi business. Investors are unmoved.
GM shares are trading close to the $33 a share at which they went public in 2010 following the company’s government-financed bankruptcy. Since hitting $63 a share in November 2021, GM shares have fallen 47%. According to Reuters, – Pope Francis called on Thursday for a legally binding international treaty to regulate artificial intelligence.
The pope made his call in a message for the Roman Catholic Church’s World Day of Peace, which is celebrated on Jan. 1. The title of the message, which is traditionally sent to world leaders, is “Artificial Intelligence and Peace”.
According to Reuters, – Before Donald Trump stepped on stage for a rally in Cedar Rapids, Iowa in early December, several leaders joined him in a prayer on behalf of a candidate whose latest presidential quest they see as a mission ordained by God.
“The gates of hell will not prevail over him,” Iowa state legislator and pastor Brad Sherman told the prayer circle. “There is a great victory coming for this nation and the world because of the calling you’ve placed on this man.” According to Reuters, – The U.S. Securities and Exchange Commission will face off with
Lawyers for Elon Musk in a San Francisco court on Thursday as it tries to force the billionaire to testify again for its probe of his $44 billion takeover of Twitter. The SEC sued Musk in October to compel him to testify as part of an investigation into
His 2022 purchase of social media giant Twitter, which he subsequently renamed X. Musk refused to attend a September interview for the probe, the SEC said. According to Reuters, – Beijing and Shanghai relaxed home purchase restrictions on Thursday, including by lowering the minimum deposit ratio for first and second homes, suggesting
Renewed efforts by Chinese authorities to revive the sluggish housing market. The world’s second-biggest economy has struggled to get back on its feet this year after reopening from COVID curbs, largely because its massive property sector has stumbled from one crisis to another in a major blow to consumer and investor confidence.
According to Reuters, – U.S. President Joe Biden will announce on Thursday that dozens of pharmaceutical companies will be required to pay rebates to Medicare for “outrageous” price hikes on prescription drugs, the White House said. For the last quarter of 2023, prices of 48 Medicare Part B drugs rose faster than inflation,
According to the White House, which also said some big pharmaceutical companies raised prices of certain medications every quarter through the year. According to Reuters, – U.S. stock index futures gained on Thursday, a day after the Federal Reserve hinted an end to its recent aggressive rate hikes and signaled that borrowing costs
Would be lower next year. The Fed left interest rates unchanged on Wednesday, as expected, with Chair Jerome Powell saying the historic tightening of monetary policy was likely over, as inflation falls faster than expected, and discussions on cuts in borrowing costs were coming “into view”.
According to Reuters, – Telecom Italia on Thursday launched a new microchip it has designed which is intended to boost cybersecurity in fields such as mobile devices, cloud infrastructure and defence systems. The announcement was made during an event in Rome attended by Italy’s Industry Minister Adolfo Urso and TIM Chief Executive Pietro Labriola.
According to Reuters, – An experimental messenger RNA cancer vaccine developed by Moderna and Merck Co paired with Merck’s Keytruda cut the chance of recurrence or death from melanoma by half after three years, showing that benefits demonstrated a year ago have held up over time.
The combination of the personalized cancer vaccine and Merck’s blockbuster immunotherapy cut the risk of recurrence or death of the most deadly skin cancer by 49% compared with Keytruda alone in the midstage trial, the companies said. According to Bloomberg, — The rally in Apple Inc., the world’s most valuable publicly
Traded company, is showing no signs of easing. After closing at a record high on Wednesday, the iPhone maker’s market value is approaching that of Europe’s largest stock market: France. The combined market value of companies listed in Paris was about $3.2 trillion as of Wednesday’s
Close versus the technology giant’s $3.1 trillion, according to an index compiled by Bloomberg. Apple is larger than all but the six largest stock markets in the world. According to Reuters, – Europe’s electric vehicle sector risks falling behind without a robust EU industrial strategy, autos group ACEA said on Thursday citing new report findings,
Amid China’s dominance of the supply chain and U.S. incentives for its automakers. A new report by France’s Ecole Polytechnique university shows an “immense scale of challenges” for the European Union in developing an EV supply chain, the European Automobile Manufacturers’ Association said, highlighting risks to the competitiveness of Europe’s EV production
As other global regions aim high with their industrial strategies. According to Reuters, – Six U.S. oil and gas bankers who missed out on a wave of mega deals in the oil patch after leaving mergers and acquisitions powerhouse Citigroup last year to join smaller firm Guggenheim Securities are now decamping to Moelis Co, according
To people familiar with the matter. The merry-go-round underscores the restlessness of dealmakers who try to get hired on big, high-prestige deals while working for firms that let them keep more of the advisory fees they generate. Energy and power has been the most active sector for dealmaking this year, accounting
For $460.3 billion worth of transactions globally, up 4% year-on-year, according to LSEG. According to Reuters, – Russian President Vladimir Putin, asked on Thursday about a possible prisoner swap for the Wall Street Journal reporter Evan Gershkovich and U.S. Marine veteran Paul Whelan, said that he hoped an agreement would be reached, but that the
U.S. had to listen to Russia’s conditions. Asked about the two men’s cases by a New York Times reporter at his annual press conference, Putin said: “We want to reach an agreement, and these agreements must be mutually acceptable and must suit both parties.”
According to Reuters, – Ukraine’s central bank lowered its key interest rate to 15% from 16% on Thursday, its fourth consecutive wartime cut this year as inflation continues to slow faster than expected. Consumer inflation slowed to a three-year low of 5.1% year-on-year in November, the
Central bank said in a statement, citing a strong harvest and improving business sentiment. According to Reuters, – Airbus Helicopters said on Thursday it had signed a deal for up to 82 multi-role H145M helicopters for the German military, marking the largest order
For a model converted from civilian use for light-attack and special forces missions. The European aerospace group, which includes the world’s largest civil helicopter maker and purpose-built military models such as the Tiger and NH-90, did not disclose a financial value for the deal.
According to Reuters, – German gas storage operators consider a gas shortage this winter to be increasingly unlikely, though it cannot be completely ruled out, storage operators group INES said on Thursday. According to the operators, gas storage facilities were 96% full at the start of December, which is an above-average level.
According to Reuters, – Sterling strengthened against the dollar and euro on Thursday after the Bank of England kept rates on hold as forecast and pushed back against expectations of interest rate cuts, a different stance from the Federal Reserve a day earlier.
The pound rose by as much as 0.74% to $1.2711, a 10-day high. It also firmed versus the euro, which was down 0.17% at 86.04 pence. According to Reuters, – The world is on the cusp of a computing revolution based on quantum
Mechanics – the theory in physics that describes the behavior of matter and energy at the level of atoms and subatomic particles. Quantum science has also been explained by a U.S. government scientist as the “rules that describe how really small things behave.” This field is full of surprises, even for the experts.
Richard Feynman, the late theoretical physicist, Nobel laureate and pioneer of quantum computing, described the field as “peculiar and mysterious to everyone – both to the novice and the experienced physicist,” because it is so different to how people experience and perceive the behavior and properties of larger objects.
According to Yahoo Finance,US stock futures gained on Thursday, as investors continued to celebrate a dovish shift by the Federal Reserve that helped propel the Dow to a new all-time closing high. Futures on the Dow Jones Industrial Average put on 0.3%, setting the blue-chip index up
To build on its record close above 37,000 on Wednesday. SP 500 futures were up 0.3%, while contracts on the tech-heavy Nasdaq 100 added 0.4%. According to Bloomberg, — In a year when much of the tech industry has pulled back on spending, startups have been hit particularly hard.
During the pandemic boom, investors were happy to bankroll promising young companies’ growth at any cost. Now, with new funding rounds all but evaporated, the order of the day is cuts. More than 250,000 workers at tech companies of all sizes were let go this year, according to job tracker Layoffs.fyi.
While that includes big reductions at giants like Meta Platforms Inc. and Google, thousands came from smaller, closely held companies facing their first reckoning with a slowdown. More than 500 startups closed their doors in 2023, according to equity management firm Carta Inc.
According to Reuters, – Prosecutors in Munich said on Thursday they have brought charges against another former Wirecard board member, long-time chief financial officer Burkhard Ley. Wirecard collapsed in June 2020 over a 1.9-billion-euro hole in its balance sheet, shaking up Germany’s
Business establishment and turning the spotlight on politicians who backed it as well as regulators who took years to investigate allegations against the firm. According to Reuters, – Italy’s finance police on Thursday seized around 86.5 million euros from the Italian arm of U.S. package delivery company United Parcel Service over alleged
Tax fraud and illegal labour practices. Milan prosecutors and the Guardia di Finanza tax police said in a statement they had sequestered the money from “a leading logistics company”. The seizure order seen by Reuters identified the company as UPS.
According to Reuters, – U.S. stock index futures gained on Thursday, a day after the Federal Reserve hinted an end to its recent aggressive rate hikes and signaled that borrowing costs would be lower next year. The Fed left interest rates unchanged on Wednesday, as expected, with Chair Jerome Powell saying
The historic tightening of monetary policy was likely over, as inflation falls faster than expected, and discussions on cuts in borrowing costs were coming “into view”. According to Reuters, – Ukraine’s biggest mobile operator Kyivstar may need several weeks to reinstate all its services after a massive cyber attack, though major services
Could be restored by the end of this week, the company’s CEO Oleksandr Komarov said on Thursday. Tuesday’s attack on Kyivstar, which counts more than half of Ukraine’s population as mobile subscribers, knocked out services and damaged IT infrastructure and air raid alert systems in several regions.
According to Reuters, – Apellis Pharmaceuticals said on Thursday the European drug regulator’s advisory panel may decline to back an authorization for its drug to treat a chronic eye disease, sending its shares down more than 14% in premarket trading.
The company said it was informed on Wednesday that the panel may vote against the drug, a form of pegcetacoplan directly injected in the back of the eye, at the next meeting on Jan. 22-25. According to Reuters, – The Bank of England stuck to its guns on Thursday and said British
Interest rates needed to stay high for “an extended period”, a day after the U.S. Federal Reserve signalled it would cut U.S. interest rates next year. The BoE’s Monetary Policy Committee voted 6-3 to keep rates at a 15-year high of 5.25%, in line with economists’ expectations in a Reuters poll last week.
According to Reuters, – Ukrainian President Volodymyr Zelenskiy urged a summit of European Union leaders on Thursday to open membership talks with his country, warning that Europe would not understand if the meeting resulted in a “satisfied smile” for Vladimir Putin.
“I ask you one thing today – do not betray the people and their faith in Europe,” he said in an address to the leaders via video link, according to the text of his speech. According to Reuters, – Siemens Energy may have to pay around 500 million euros in fees
Over the next three years for 7.5 billion euros in state-backed project guarantees it secured last month, according to two people familiar with the matter. At the time of the agreement, which capped weeks of major uncertainty for Siemens Energy,
Sources had told Reuters that the guarantees were envisaged to be in place for 2-3 years and tied to high costs. According to Reuters, – Zeekr, the premium electric vehicle brand of Chinese automaker Geely, unveiled on Thursday lithium iron phosphate batteries it developed that support fast charging.
Zeekr becomes the latest manufacturer to launch such a battery in a competitive market, as it moves to cut dependence on external suppliers for the key component of electric vehicles, or EVs. According to Reuters, – Retail sales volumes in Brazil slipped in October on a month-on-basis,
Data from statistics agency IBGE showed on Thursday, adding to a batch of recent figures that point to a slowdown in Latin America’s largest economy. Sales fell 0.3% in October from September, IBGE said, while economists in a Reuters poll had expected an increase of 0.2%.
On a yearly basis, sales grew 0.2%, compared to expectations for a 1.76% increase. According to Reuters, – Aircall, a call centre software company that has been valued at around $1 billion, on Thursday named 41-year old Scott Chancellor as its new chief executive officer.
Chancellor, who was previously CEO of tech company Humu and who has also worked at Amazon Web Services, succeeds Olivier Pailhes, who co-founded Aircall. Pailhes will remain on the Aircall board of directors. According to Reuters, – U.S. wireless carrier ATT will purchase some electric vehicles from
Startup Rivian in a pilot program to evaluate ways to reduce cost, cut carbon emissions and improve safety, the companies said on Thursday. The deal is the first for Rivian after the company last month ended its exclusivity pact with largest shareholder Amazon for its delivery vans, opening the door for more customers.
According to Bloomberg, — The Bank of England kept interest rates at a 15-year high, sticking with its message that borrowing costs will remain elevated for some time despite growing bets on a wave of cuts in 2024. The UK central bank’s decision contrasted with the US Federal Reserve’s admission
Last night that reductions were on the agenda, reiterating that BOE policy will be “sufficiently restrictive for sufficiently long” to curb inflation. BOE policy makers split along the same lines as in their previous meeting in November, with three still supporting a hike.
According to Reuters, – The European Central Bank left interest rates unchanged as expected on Thursday and signalled an early end to its last remaining bond purchase scheme, wrapping up a decade-long experiment in hoovering up debt across the 20-nation euro zone.
The ECB raised interest rates to a record high earlier this year but unexpectedly benign inflation data over the past few months has all but ruled out further policy tightening, shifting the debate to how fast it will reverse course. According to Reuters, – The European Central Bank left interest rates unchanged as expected
On Thursday and signalled an early end to its last remaining bond purchase scheme, wrapping up a decade-long experiment in hoovering up debt across the 20-nation euro zone. The ECB raised interest rates to a record high earlier this year but unexpectedly benign
Inflation data over the past few months has all but ruled out further policy tightening, shifting the debate to how fast it will reverse course. According to Yahoo Finance,November retail sales were higher than expected, reiterating that while there are signs of cooling in the economy the US consumer remains in better
Position than many have feared. Retail sales grew 0.3% in November, above economists projections for a 0.1% decline. What was initally a negative 0.1% for October was also revised to 0.2% growth in Thursday’s release. According to Bloomberg, — A personalized vaccine developed by Merck Co. and Moderna
Inc. helped prevent the recurrence of severe skin cancer for three years in promising new results from a study. Patients with severe melanomas who got the vaccine and Merck’s cancer drug Keytruda were 49% less likely to die or have their cancer return than those who got Keytruda alone, the companies said Thursday.
According to Reuters, – The U.S. Treasury on Thursday unveiled proposed guidelines for manufacturers seeking to claim a tax credit for making clean energy components like solar panels and batteries, a move aimed at powering the energy transition with American-made products. The subsidy, created by U.S. President Joe Biden’s climate measure, the Inflation Reduction
Act , is meant to create domestic jobs and reduce reliance on China in the turn away from fossil fuels. According to Reuters, – Twenty-eight healthcare companies, including CVS Health , are signing U.S. President Joe Biden’s voluntary commitments aimed at ensuring the safe development of
Artificial intelligence , a White House official said on Thursday. The commitments by healthcare providers and payers follow those of 15 leading AI companies, including Google, OpenAI and OpenAI partner Microsoft to develop AI models responsibly. According to Reuters, – Stellantis is reviewing the timing and structure of a planned reorganisation
Of its European dealers’ network after a four-country pilot programme revealed IT glitches, a spokesperson for the automaker said on Thursday. As part of efforts to cut costs and support investments for electrification, the world’s third-largest automaker has ended its previous contracts with European dealers and is moving
Towards a new distribution framework based on an “agency model”. According to Reuters, – Last May I wrote about efforts by Republican elected officials in proceedings before a U.S. utility regulator to question the role that big index funds had taken in their ownership of major utilities.
Now it looks like those efforts might have prompted some action, based on a Sunshine Notice posted about a meeting on Dec. 19 at the Federal Energy Regulatory Commission . It’s interesting partly because a liberal advocacy group has raised similar concerns about the
Growing influence of the big funds, which could soon be aired out. According to Reuters, – Saudi Arabian energy giant Aramco has signed a new five-year agreement to become exclusive title sponsor of the Aston Martin Formula One team from next season, both parties announced on Thursday.
The team previously had U.S.-based IT company Cognizant as joint title sponsor with Aramco but will be known officially as Aston Martin Aramco from January. Cognizant will remain as a strategic partner. According to Reuters, – Carbon capture startup Climeworks said it has agreed to sell 80,000
Metric tons of carbon credits to Boston Consulting Group over 15 years, its biggest and longest-duration deal. It is an important step toward building credibility for the nascent direct air capture industry – which uses minerals and chemicals to suck carbon dioxide out of the air – as it ramps
Up commitments that will help it attract new funds for expansion. According to Reuters, – General Motors’ Cadillac said on Thursday it would launch a new electric crossover called Vistiq, bolstering the luxury brand’s shift to a mostly electric lineup by 2030.
The three-row 2026 model year SUV is the third electric vehicle Cadillac has confirmed this year and the fifth to join its EV line-up. According to Reuters, – Following is the text of European Central Bank President Christine Lagarde’s statement after the bank’s policy meeting on Thursday:
Link to statement on ECB website: https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is231214~df8627de60.en.html According to Yahoo Finance,While General Motors has been pumping the brakes, so to speak, on its once ambitious electric vehicle plans, its luxury brand Cadillac is still moving forward with its EV rollout. Cadillac today unveiled the VISTIQ, a three-row EV SUV that sits between its two-row LYRIQ
EV SUV, and range-topper ESCALADE IQ, According to Reuters, – Wall Street’s main indexes were on course to open higher on Thursday, a day after the Federal Reserve hinted an end to its recent aggressive rate hikes and signaled that borrowing costs would be lower next year.
According to Reuters, – Brazilian airline Gol on Thursday dubbed the delay in deliveries of 737 MAX aircraft by Boeing its “main challenge,” with Chief Executive Celso Ferrer saying the carrier’s growth has been constrained by the issue. Gol expected to have 53 MAX planes flying at this point but by September it had only
38, Ferrer said at an investor event, adding that the company was “counting on those planes” to renew its fleet and take the pressure off its maintenance team. According to Reuters, – The head of the U.N. Palestinian refugee agency said on Thursday
That crowds of hungry people were stopping its aid trucks in Gaza and helping themselves to the food, making it almost impossible to continue delivering aid. “People are stopping aid in trucks, taking the food and eating it right away. And this is how desperate and hungry they are,” Philippe Lazzarini, UNRWA commissioner-general,
Told reporters at the Global Refugee Forum in Geneva. According to Reuters, – Manufacturers of RSV immunizations will make an additional 230,000 doses available for infants in January, the White House said on Thursday, after U.S. government officials met with suppliers to discuss meeting demand during winter.
Drugmakers and officials from President Joe Biden’s administration have been holding meetings aimed at addressing tight supplies of the shot to prevent respiratory syncytial virus , a leading cause of hospitalization in infants and toddlers. According to Bloomberg, — Wednesday’s sweeping rally across financial assets was something
Unseen in almost 15 years for a Federal Reserve policy decision day. From stocks to Treasuries, credit to commodities, everything was up after the Fed projected more interest-rate cuts in 2024. The scope and intensity can be illustrated by a measure that tracks the lowest return of the five major exchange-traded funds following these assets.
With gains of at least 1%, the pan-asset advance beat all other Fed days since March 2009. According to Bloomberg, — The European Central Bank kept interest rates on hold for a second meeting with inflation tumbling, but said it will step up its exit from €1.7 trillion of pandemic-era stimulus.
The deposit rate was left at a record 4% — as predicted by all 59 economists in a Bloomberg survey — with the ECB reiterating that this level will make a “substantial contribution” to returning consumer-price growth to its 2% goal. According to Bloomberg, — Turkey’s local-currency bonds, long abandoned by overseas investors,
Saw the biggest inflow in at least three years last week, as foreigners roughly doubled their holdings from all-time lows. Foreign investors bought a net $891 million of lira-denominated government notes last week, the biggest weekly purchase in records going back to September 2020, taking their
Cumulative holdings to $2.4 billion from all-time lows of just over $1 billion. The inflow into equities was $562 million in the week, also the highest since at least 2020. According to Reuters, – Markets think it’s all over. After a lengthy and historic monetary tightening campaign to battle high inflation, major central
Banks are keeping high interest rates steady for now as traders price in rapid cuts ahead. U.S. Federal Reserve chair Jerome Powell, said on Wednesday, “we’ve done enough.” The European Central Bank and the Bank of England on Thursday left rates on hold, but
The BoE pushed back against rate cut bets, while Norway surprised with a rate hike. According to Bloomberg, — Tesla Inc.’s showdown with trade unions across the Nordic region is threatening to spill over to the financial markets after a group of pension
Funds and asset managers sent a letter to Elon Musk urging him to change course. Nordic institutional investors managing a total of $1 trillion in assets said they are “deeply concerned” about Tesla’s attitude to worker rights in Sweden and demanded the carmaker accept collective bargaining agreements for its staff, according to a letter sent
Thursday and seen by Bloomberg News. Signatories to the letter include Denmark’s Velliv Pension Livsforsikring A/S and AkademikerPension. According to Reuters, – The European Central Bank’s Governing Council expressed a range of views at its latest policy meeting over how to handle the phasing out of its last
Remaining bond-purchase scheme, ECB President Christine Lagarde said on Thursday. The bank earlier said it would start tapering reinvestments from its 1.7 trillion-euro Pandemic Emergency Purchase Programme from mid-2024, wrapping up a decade-long experiment in buying up debt that has left it with a huge balance sheet that will take years to shrink.
According to Reuters, – Building products provider Johnson Controls has identified a weakness in its internal control over financial reporting due to a cyber incident disclosed in September, it said in a regulatory filing on Thursday. Measures to address the issue will result in additional costs, the Ireland-based company
Said, just days after reporting a 4 cent hit to its fourth-quarter profit. The company expects another 2 cent hit in the first quarter. According to Reuters, – Intel on Thursday said that dozens of personal computer makers are using its newest chip, as the company and its customers try to entice consumers
To upgrade their machines for a new era of chatbots. At a press event in New York, Intel said the new offering will be available in laptops from Dell Technologies, Microsoft, Lenovo Group and others that will go on sale on Thursday
At Best Buy in the U.S. and other global retailers including China’s JD.com and Australia’s Harvey Norman. According to Reuters, – Wells Fargo said on Thursday that Frederick Terrell will join the lender’s corporate and investment bank unit as vice chairman of investment banking effective Jan. 2, 2024.
Terrell, a veteran with 40 years of experience, joins from Centerbridge Partners, where he was a senior adviser focused on the financial services and technology sectors. According to Reuters, – Index provider MSCI replaced a “red flag” controversy rating for Volkswagen stock with an “orange flag” after reviewing the results of a labour rights audit
At Volkswagen’s jointly-owned Xinjiang site, MSCI said on Thursday. The move enables sustainability-focused investors who sold Volkswagen stock after MSCI’s red rating, which indicates involvement in “very severe” environmental, social or governance controversies, to reassess whether to invest in the carmaker. According to Reuters, – U.S. retail sales unexpectedly rose in November as the holiday
Shopping season got off to a brisk start amid deep discounting, likely keeping the economy on a moderate growth path this quarter and further alleviating fears of a recession. The rebound in retail sales reported by the Commerce Department on Thursday underscored consumers’ resilience, thanks to a strong labor market, and cast doubts on financial
Markets’ expectations for rate cut as early as next March. According to Reuters, – Ukraine set out ambitions on Thursday to develop high-tech industries, proposing future state support for the creation of a chipmaking industry and to build up artificial intelligence.
The plan, dubbed Win 2030, comes more than 21 months into an all-out war with Russia that the Ukrainian army’s commander-in-chief has said requires Kyiv to make a technological breakthrough. According to Reuters, – Major European central banks on Thursday stuck with plans to keep
Their policy interest rates higher for longer to fight inflation that is proving stickier in some parts of the world than others, dashing any hope that a U.S. Federal Reserve pivot towards interest rate cuts marked a global turning point. Extending the hawkish stance that has dominated global central banking for two years the Bank
Of England said in a statement that the Bank Rate would remain high for “an extended period,” while the European Central Bank said the euro zone’s benchmark rates would remain “at sufficiently restrictive levels for as long as necessary.” According to Bloomberg, — Extreme heat from California’s climate-driven wildfires is
Transforming a metal common in soil into an airborne carcinogen that can be inhaled by firefighters and people living downwind of conflagrations, according to first-of-its-kind research. In a study published Dec. 12 in the journal Nature Communications, Stanford University scientists discovered what they described as widespread and dangerous levels of toxic
Chromium in areas of Northern California severely burned by wildfires in 2019 and 2020. According to Reuters, – Activist investor Nelson Peltz is seeking two board seats at Disney, his fund said on Thursday, less than a year after abandoning an earlier bid as the media conglomerate outlined plans that addressed his criticism.
While Peltz is one of the candidate nominated, former Chief Finiancial Officer of Disney James Rasulo is the other nominee, Trian Fund Management said. According to Reuters, – Canadian airline Air Transat said on Thursday it had reached an in-principle agreement with the union representing its flight attendants, averting a possible
Strike during the busy holiday travel season. The deal to renew the Transat collective labor agreement, which is subject to a vote, comes as flight attendants at several North American carriers are demanding raises and to be paid for more of the hours they work.
According to Reuters, – A U.S. labor agency is seeking to force Starbucks Corp to reopen 23 stores that were allegedly shuttered last year to discourage a nationwide union campaign, the latest case to accuse the coffee chain of illegal labor tactics.
A regional director with the National Labor Relations Board in a complaint issued on Wednesday said that eight of the U.S. stores had already unionized when they closed. According to Reuters, – Argentina’s inflation rate will end the year at 210% and remain
High in 2024, investment bank J.P. Morgan said in a note after the new government of libertarian President Javier Milei sharply devalued the peso currency in a bid to tackle a major economic crisis. The South American country’s new government is battling to bring down the highest inflation
Rate since 1991, warning of possible hyperinflation without tough austerity measures. According to Reuters, – Three leading payments companies in Spain, Italy and Portugal on Thursday said they would team up to allow users in the three countries to make instant mobile payments, in a push to help to develop a unified European payments market.
The letter of intent for the accord was signed by Spanish mobile payment firm Bizum, Italy’s ATM machine operator Bancomat, which runs online payment service Bancomat Pay, and Portugal’s SIBS, owner of mobile payment supplier MB WAY. According to Reuters, – A group of Nordic institutional investors said in a letter to
Tesla on Thursday they were deeply concerned by the conflict between the company and labour unions in Sweden, and asked it to reconsider its approach to collective bargaining. Tesla is facing a backlash from unions and some pension funds in the region over its
Refusal to accept a demand from Swedish mechanics for collective bargaining rights covering wages and other conditions. According to Reuters, – More than two-thirds of the U.S. House of Representatives voted in favor of a defense policy bill on Thursday governing a record $886 billion in annual
Military spending and authorizing policies such as aid for Ukraine and push back against China in the Indo-Pacific. The House backed the National Defense Authorization Act, or NDAA, by 310 to 118, with strong support from Republicans and Democrats.
It was more than the two-thirds majority required to pass the measure and send it to the White House for President Joe Biden to sign into law. According to Reuters, – France’s economy is set to eke out only meagre growth in the first
Half of 2024 even though falling inflation will give a boost to consumers’ purchasing power, the INSEE statistics agency forecast on Thursday. Quarterly growth was seen at 0.2% in both the first and second quarters of 2024 after flat-lining in the last three months of 2023, INSEE said in its economic outlook, trimming
Its estimate for this quarter from 0.2% previously. According to Reuters, – U.S. stocks extended their rally and benchmark Treasury yields dropped to their lowest since July on Thursday as signals from the U.S. Federal Reserve that the tightening cycle has ended and rate cuts can be expected in 2024 continued to fuel investor euphoria.
The dollar hit a four-month low and all three major U.S. stock indexes were in positive territory the day after the Fed’s much anticipated policy decision. According to Reuters, – Chewy and eight other companies are violating federal law by selling or making unapproved antibiotics and other antimicrobial drugs for animals that could
Potentially give rise to drug-resistant superbugs, the U.S. health regulator said. The U.S. Food and Drug Administration on Thursday sent letters to nine companies including e-commerce retailer Chewy warning them against selling the products that it said contained antibiotics such as penicillin and amoxicillin.
According to Reuters, – A New York state appeals court on Thursday denied Donald Trump’s bid to overturn a gag order restricting the former U.S. president from publicly talking about court staff in his New York civil fraud trial. The judge overseeing the case, Justice Arthur Engoron, issued the gag order on Oct. 3 after
The former U.S. president shared on social media a photo of the judge’s law clerk posing with U.S. Senate Majority leader Chuck Schumer, a Democrat, and falsely called her Schumer’s girlfriend.” According to Reuters, – Wall Street’s main indexes rose on Thursday, with tech giant
Apple notching up a record high, a day after the Federal Reserve hinted an end to its aggressive rate-hike campaign and signaled that borrowing costs would be lower next year. The Fed left interest rates unchanged on Wednesday, as expected, with Chair Jerome Powell saying
The historic tightening of monetary policy was likely over, as inflation falls faster than expected, and discussions on cuts in borrowing costs were coming “into view”. According to Reuters, – U.S. Treasury Secretary Janet Yellen on Thursday mapped out her top priorities for managing U.S.-Sino relations next year, including a planned second visit
To China and steps to accelerate cooperation on climate risks and financial markets. In remarks prepared for a dinner hosted by the U.S.-China Business Council, Yellen stressed that Washington does not want to decouple from China, but is working to establish “durable” communications channels to deal with problems as they occur.
According to Bloomberg, — Wall Street reclaimed the top spots in the global equity underwriting league tables from Chinese banks as initial public offerings slowed on the mainland, leaving US firms to make the most of an anemic share sale market elsewhere.
Goldman Sachs Group Inc. rose to the top of rank for equity and equity-linked underwriting as it dished out shares in many of the biggest new offerings, according to league table data compiled by Bloomberg. Bank of America Corp. and JPMorgan Chase Co. also returned to the top three as Chinese
State-backed brokerage Citic Securities Co. ceded its number one ranking, though it retained its leading position in global IPO underwriting. According to Reuters, – Alphabet’s Google said on Thursday it will begin testing a new feature on its Chrome browser as part of a plan to ban third-party cookies that advertisers use to track consumers.
The search giant is set to roll out the feature, called Tracking Protection, on Jan. 4 to 1% of Chrome users globally, that will restrict cross-site tracking by default. According to Reuters, – The average interest rate on the most popular U.S. home loan fell
This week to below 7% for the first time since August as Treasury market yields dropped sharply after the Federal Reserve firmly signaled it is nearing cuts to its policy rate. The average contract rate on a 30-year fixed-rate mortgage fell to 6.95% this week from 7.03%
In the prior week, according to a Freddie Mac survey released on Thursday. According to Yahoo Finance,Mortgage rates hit the 6% range for the first time since August, and many housing economists believe that trend could continue. The average rate on the 30-year mortgage dropped to 6.95% from 7.03% the week before, according
To Freddie Mac on Thursday. Rates fell for the seventh consecutive week and hit the lowest level since early August when rates were 6.96%. According to Reuters, – Investment bank Lazard said on Thursday it is in talks with European venture capitalist firm Elaia Partners to form a private investment platform that will
Support European tech companies from early stage funding to their listing on markets. The new joint asset management firm will be based in Paris, Lazard said. According to Reuters, – Codelco Chairman Maximo Pacheco affirmed on Thursday his prediction that Chile’s state-owned copper giant will reach an agreement with lithium miner SQM this year.
Codelco, the world’s largest copper producer, has been negotiating a partnership with Santiago-based SQM since mid-year. Codelco was tasked by President Gabriel Boric in April to lead the government’s plan to take state control over strategic lithium projects. According to Reuters, – Markets have raced ahead of the U.S., euro zone and UK central
Banks to price in sizeable and frenetic interest rate cuts next year, fueling a so-called everything rally that could now be vulnerable to a correction. The U.S. Federal Reserve on Wednesday signaled it would cut rates more than previously outlined, sending global stocks and bond prices surging as markets priced in six quarter-point rate
Cuts in 2024, double the number projected by Fed officials. According to Reuters, – Getting Argentina’s economy firing again might look like mission impossible, yet some long-suffering investors are daring to dream its new president can deliver where others have failed. Javier Milei is putting South America’s second biggest economy and serial debt defaulter
Into shock therapy, kicking off by halving the value of the peso and slashing its spending. According to Bloomberg, — The finance industry will be shielded from the full scope of the European Union’s most consequential piece of ESG legislation to date, as the bloc settles
On a compromise to help it get the bill over the finish line. Under the Corporate Sustainability Due Diligence Directive, large companies face civil liability for environmental and human rights violations in their value chains. Whether to include banks, insurers and asset managers had been a major hurdle in arriving at a deal.
According to Bloomberg, — BlackRock Inc. bond chief Rick Rieder is expanding his footprint in the $7.8 trillion ETF industry with the launch of his second fund. The BlackRock Total Return ETF, which began trading Thursday under the ticker BRTR, is actively managed by a team led by Rieder, according to a press release.
It launches roughly seven months after Rieder, BlackRock’s chief investment officer of global fixed income, brought the $413 million BlackRock Flexible Income ETF to market. According to Yahoo Finance,Regional bank indexes are now back to where they were when a March
Crisis began, a significant moment for an industry recovering from one of its most challenging years since the 2008 financial crisis. Two major indexes that track mid-sized lenders are currently trading above levels last seen in the moments before the March 10 fall of Silicon Valley Bank, an event that triggered
Widespread panic in the banking system. According to Reuters, – Spirits group Campari has agreed to buy historic French cognac house Courvoisier from Beam Suntory for an initial price of $1.20 billion, in the largest deal on record for the Italian group.
Campari said cognac would now become the fourth major part of the group, alongside aperitifs, bourbon and tequila. According to Yahoo Finance,Trian Fund Management plans to nominate its founder Nelson Peltz and former Disney CFO Jay Rasulo to the media giant’s board, the activist hedge fund said in a press release on Thursday.
Rasulo worked alongside Iger as his chief financial officer from 2010 to 2015. He was chairman at Walt Disney Parks and Resorts Worldwide from 2005 to 2009 and also served as president of Walt Disney Parks and Resorts from 2002 to 2005.
According to Yahoo Finance,Shares of Moderna soared to around 14% on Thursday on the news that a personalized cancer vaccine, in partnership with Merck , reduced the risk of late-stage melanoma by 49% Moderna has struggled to maintain Wall Street’s
Attention on its pipeline as it recovers from the COVID vaccine highs of 2022, when sales topped $19 billion.But as CEO Stephane Bancel told Yahoo Finance LIVE , that may change soon. According to Bloomberg, — Bobby Jain has grown his fledgling firm to about 50 people,
Hiring seven strategy-focused chief investment officers and filling other senior administrative roles, ahead of what could be the biggest hedge fund debut on record. Citadel veteran Noah Goldberg joined Jain Global as chief compliance officer and general counsel, and Gerhard Seebacher, a former co-head of fixed-income trading at Bank of America
Corp., was named chairman of the global interest rates and macro business, according to people familiar with the matter. According to Bloomberg, — European Central Bank policymakers are largely united in expecting to cut interest rates later than financial markets currently anticipate, according to officials familiar with their thinking.
The Governing Council discussions this week featured some irritation about aggressive bets on lower borrowing costs and some members were confounded by the extent of easing priced in by investors, said the people, who asked not to be identified because the deliberations were private.
According to Yahoo Finance,Oil was up more than 3% midday on Thursday after the Federal Reserve kept interest rates unchanged but hinted at three rate cuts next year. West Texas Intermediate climbed above $72 per barrel and Brent crude, the international benchmark price, rose above $77 per barrel after jumping more than 1% on Wednesday.
According to Reuters, – European Union countries and lawmakers last week agreed a provisional deal for artificial intelligence rules aimed at establishing guardrails for the rapid development of AI and setting a global standard in technology regulation. The long road to the EU AI Act started in early 2021, with multiple drafts passing between
The bloc’s three political arms. It will take many more months before it becomes law and two more years before its impact will be felt by industry. According to Reuters, – A major U.S. hotel owners association said its Wyndham Hotels Resorts franchisee members are worried an acquisition by budget operator Choice Hotels
International could hurt their business. Choice on Tuesday launched a hostile bid for Wyndham to bring Wyndham to the negotiating table. The deal, initially valued at $7.8 billion, would combine two of the biggest U.S. budget operators at a time when demand for cheaper extended stay brands is growing rapidly.
According to Reuters, – Shares in U.S. banks were rallying strongly on Thursday after the Federal Reserve signaled potential interest rate cuts in 2024 with the sector returning to its highest level since early March just before a crisis that put some banks out of business.
Wells Fargo and BofA Global Research analysts raised price targets across the banking sector in wake of the Fed’s dovish pivot on Wednesday According to Reuters, – Canada is planning a “broad and comprehensive program” that would allow many undocumented people to apply for
Permanent residency, the country’s Immigration Minister Marc Miller told The Global and Mail. The announcement complements Canada’s ambitious immigration targets, which had already aimed to bring in 500,000 immigrants a year by 2025. The country’s population has grown mainly through immigration, and this has helped fuel economic growth in recent years.
According to Reuters, – European Union leaders will declare the start of accession talks with Ukraine at their summit in Brussels, their chairman Charles Michel said on Thursday in a surprise announcement. The talks themselves are likely to take years. According to Reuters, – The COP28 climate summit in Dubai started with all the ingredients
For spectacular failure: It proposed an end to the fossil-fuel era at a conference situated in Arab oil country amid overt opposition from the powerful oil-producer group OPEC. Landing a pact that all 196 countries could live with took deft maneuvering by the conference
Host, the United Arab Emirates, along with back-channel diplomacy from the United States’ and China’s top climate envoys, sources told Reuters. According to Reuters, – Boeing on Thursday named insider Chris Raymond as the new head of its aftermarket business, succeeding Stephanie Pope, who was announced as the planemaker’s chief operating officer on Monday.
Raymond’s appointment as CEO of Boeing Global Services is effective Jan. 1, Boeing said. According to Reuters, – The Federal Reserve’s signal on Wednesday that its interest rate hiking campaign is over triggered a drop in bond yields and a rash of market bets on U.S.
Rate cuts next year, marking a sharp shift in pricing that is rare outside of financial panics. Economic data on Thursday showing stronger-than-expected retail sales in November and a smaller-than-anticipated rise in weekly jobless claims had traders paring a bit of their earlier enthusiasm for Fed policy easing next year.
According to Reuters, – Turkish President Tayyip Erdogan told President Joe Biden in a phone call that the United States has a historic responsibility to achieve a lasting ceasefire in the Gaza conflict as soon as possible, Erdogan’s office said on Thursday.
It reported him as saying that a deepening and prolongation of Israel’s attacks in Gaza may have negative regional and global consequences. According to Reuters, – The U.S. Food and Drug Administration and Customs and Border Protection seized more than $18 million worth of unauthorized e-cigarettes, which included
Popular brands such as Elf Bar, the FDA said on Thursday. About 1.4 million units were confiscated in a joint three-day operation in July at a cargo examination site at Los Angeles International Airport, according to the FDA. According to Reuters, – The Bank of Mexico held its benchmark interest rate at 11.25%
For a sixth consecutive monetary policy meeting on Thursday, as expected, saying progress on bringing inflation down had been made even as the outlook remained challenging. The decision by the central bank’s five-member board was unanimous, the bank said in a statement. According to Reuters, – Ethiopia’s government told bondholders on Thursday it was hoping
To negotiate a rework of its single international bond quickly and was set to include a form of “loss reinstatement” provision for investors, three sources attending the call told Reuters. The global investor call was part of Ethiopia’s eleventh hour push to resuscitate an overhaul
Of its $1 billion Eurobond after disclosing on Dec. 8 that it failed to reach an agreement with a core group of bondholders. According to Yahoo Finance,The Federal Reserve laid out an ideal scenario for investors on Wednesday. Inflation is falling faster than initially thought.
More interest rate cuts than previously expected are on the horizon. And the economy, while cooling from its too-hot pace, is still growing. According to Yahoo Finance,It was a breakthrough, of sorts. At the United Nations latest climate-change gathering in Dubai, nearly 200 nations agreed
For the first time on the importance of “transitioning away from fossil fuels,” to cut carbon emissions and slow the warming of the planet. But that doesn’t mean a big reduction in fossil fuels is coming anytime soon. Renewables such as wind and solar are rapidly gaining market share, yet oil and natural
Gas consumption is still rising globally, as the world’s population and economies grow. In the United States, President Biden has signed the most ambitious set of green energy subsidies ever, yet oil and natural gas production is still hitting new record highs.
According to Bloomberg, — Mexico kept borrowing costs at a record high for a sixth straight meeting Thursday, as consumer price increases and inflation expectations remain above target. Banxico, as the central bank is known, held its key interest rate at 11.25%, as forecast by 24 of 25 economists in a Bloomberg survey.
One analyst expected a quarter-point cut to 11%. According to Reuters, – A federal judge in San Francisco on Thursday tentatively ruled that billionaire Elon Musk must testify again for the U.S. Securities and Exchange Commission’s investigation of his $44 billion takeover of Twitter.
According to Yahoo Finance,WW International , formerly known as WeightWatchers, is jumping on the bandwagon of one of the biggest stories of the year — weight-loss drugs. On Monday, the 60-year-old company announced the launch of the WeightWatchers GLP-1 Program, which offers behavioral support for those on weight-loss drugs such as Ozempic and Wegovy.
According to Yahoo Finance,Americans had more money to spend in 2023, a new US Treasury report shows. US real wages – wages adjusted for inflation – have risen 0.8% over the last 12 months, according to the Treasury Department’s recent research “The Purchasing Power of American Households.”
The growth is 0.2% percentage points higher than the average annual real wage growth in the 10 years before the pandemic. According to Reuters, – Spanish Prime Minister Pedro Sanchez said on Thursday the EU decision to give the green light to Ukraine membership was a ‘historic day’.
“Today is a historic day for Europe,” Sanchez posted on the social media X. According to Reuters, – The SP 500 edged higher and the Nasdaq fell Thursday afternoon as investors took a breather a day after a sharp rally on signals from the Federal Reserve that borrowing costs would drop next year.
Apple shares were down 0.2% after hitting a record high in the session. According to Yahoo Finance,Pfizer disappointed Wall Street this week with lower revenue guidance for the upcoming year, giving analysts other reason to doubt the company and its stock.
Shares for Pfizer were at the end of Wednesday down 7.5%, trading at a near-10-year low of $26.45. PFE was down another 2% or so on Thursday. According to Reuters, – Elon Musk’s social media platform X, formerly known as Twitter, took a step closer to offering payment features after receiving a money-transmitter license
From a 13th U.S. state this week. The approval by Pennsylvania, which occurred on Monday according to a public licensing database, has not been previously reported. It grants X the ability to facilitate money transfers and paves the way for the company to allow users to send money to one another, similar to PayPal’s Venmo.
According to Reuters, – AS Roma finished second in Europa League Group G after beating Moldovan side Sheriff Tiraspol 3-0 on Thursday, courtesy of first-half goals from Romelu Lukaku and Andrea Belotti and a late strike by Niccolo Pisilli.
Slavia Prague held on to top spot in the group with a scintillating home performance to crush Servette 4-0 with first-half goals from David Doudera, Ivan Schranz, and a brace from Mojmir Chytil. According to Bloomberg, — A San Francisco federal judge signaled that Elon Musk should
Testify about his purchase of Twitter Inc. stock ahead of his $44 billion buyout of the company last year as part of an investigation by the US Securities and Exchange Commission. Despite the billionaire’s complaint that the agency was harassing him, Magistrate Judge
Laurel Beeler on Thursday asked the two parties to work out an agreement on logistics themselves. If they don’t, she said she would side with the SEC in forcing Musk to testify over share purchases of Twitter, now known as X Corp.
According to Yahoo Finance,Rivian shares took off on Thursday after the electric truck maker announced a new commercial client for its trucks. Its shares were up around 14% an hour before market close. Rivian and ATT unveiled a deal for the telecom giant to purchase Rivian vans and R1 vehicles for its commercial fleet.
ATT said the vehicles will be purchased through a pilot program aimed at cutting transport vehicle emissions. Rivian declined to provide the number of vehicles ATT will purchase—nor would it outline the financial impact of the deal. According to Reuters, – Intel Chief Executive Pat Gelsinger on Thursday said the company
Has no plans to spin out its contract chip manufacturing business. Gelsinger has moved Intel’s manufacturing unit into what is now called Intel Foundry Services that operates as a business within Intel. IFS will break out financials beginning in the second quarter of next year, Gelsinger said.
According to Reuters, – The SP 500 closed higher on Thursday on optimism that borrowing rates will decrease next year following a dovish pivot by the Federal Reserve. According to Reuters, – Freepoint Commodities LLC has agreed to pay over $98 million to settle U.S. charges related to a scheme to misappropriate material non-public information
And bribe Brazilian officials to secure oil business, authorities said on Thursday. The Connecticut-based commodities trader has agreed to pay a criminal penalty of $68 million and forfeit another $30 million to resolve the Justice Department probe and also give up another $7.6 million in ill-gotten gains to resolve related charges from the CFTC,
The DOJ said in a statement. According to Reuters, – Venezuela’s national assembly on Thursday approved a 15-year extension for a pair of joint ventures between state-owned oil company PDVSA and U.S. major Chevron. The assembly is dominated by lawmakers from the ruling socialist party of President Nicolas Maduro.
According to Reuters, – U.S. stocks ended firmer on Thursday, with the Dow Jones Industrial Average notching its second straight record high close, lifted by optimism that borrowing rates will decrease next year following a dovish pivot by the Federal Reserve.
Apple hit an intra-day record high before surrendering some of its gains to close up 0.08%. According to Reuters, – Guyana and Venezuela are committed to ensuring their region remains peaceful, Guyanese President Irfaan Ali said on Thursday during meetings with his Venezuelan counterpart President Nicolas Maduro, amid high tensions over a
Dispute involving a According to Reuters, – A look at the day ahead in Asian markets. Asian markets are set to end the week on the front foot as another steep slide in the dollar and U.S. bond yields extends the Fed-fueled buying frenzy, although some investors may
Be tempted to take some chips off the table ahead of the weekend. The Dow climbed to a fresh all-time high on Thursday and the SP 500 and Nasdaq made new 2023 highs, while the MSCI emerging market and Asia ex-Japan indexes both rose around 2%.
According to Reuters, – A look at the day ahead in Asian markets. Asian markets are set to end the week on the front foot as another steep slide in the dollar and U.S. bond yields extends the Fed-fueled buying frenzy, although some investors may
Be tempted to take some chips off the table ahead of the weekend. According to Yahoo Finance,You don’t become the CEO of software giant Microsoft , owner of the NBA’s LA Clippers, and one of the most well-known leaders from the upper echelons of corporate America by sitting on your rear end.
In a nutshell, that is the leadership story of Steven “Steve” Ballmer. According to Yahoo Finance,Costco sported some bulked up earnings for its fiscal 2024 Q1 results. For the quarter, Costco reported adjusted earnings per share of $3.58, higher than Wall Street expectations of $3.41.
Revenue came in at $57.8 billion, compared to expectations of $57.71 billion, per Bloomberg data. According to Reuters, – U.S. homebuilder Lennar Corp said on Thursday its quarterly profit rose, as a production deficit and a chronic supply shortage resulted in sustained housing demand.
Existing housing supply in the market remains tight as a majority of homeowners choose to stay locked in a fixed mortage rate below 5%, making them unlikely to resell and upgrade at a time when current rates are hitting a two-decade high at about 7%.
According to Reuters, – General Charles Q. Brown, the top U.S. general, will join Defense Secretary Lloyd Austin for meetings in Israel in the coming days, the Pentagon said on Thursday. It will be the Air Force general’s first trip to the Middle East since becoming chairman
Of the Joint Chiefs of Staff, Air Force Major General Patrick Ryder told a press conference. According to Reuters, – General Motors said on Thursday it is laying off 1,300 workers at two Michigan auto factories in early January. The largest U.S. automaker said 945 workers will be laid off at its Orion Assembly plant,
Which is ending production of the Chevrolet Bolt and being converted for electric truck production that will start in late 2025. According to Reuters, – Brazilian and Mexican stocks rose to record highs on Thursday, propelled by the U.S. Federal Reserve’s signaling toward lower interest rates in 2024 and monetary
Policy decisions in both Latin American nations. In Brazil, stocks were partially driven by the local According to Bloomberg, — Top US regulators view artificial intelligence as a looming vulnerability for financial stability, underscoring Washington’s mounting concern over systemic dangers posed by the burgeoning technology.
Treasury Secretary Janet Yellen on Thursday signaled that US watchdogs would make AI, and the threats it could pose, a top priority in 2024. In October, President Joe Biden signed an executive order to establish standards for security and privacy protections for the technology in what the White House heralded as necessary regulation.
According to Yahoo Finance,Picture your retirement: traveling, relaxing, and doing all the projects you put off over a lifetime of work and family commitments while comfortably living off your Social Security check. Can you afford that on the monthly average retirement benefit of about $1,800? What if that benefit disappeared altogether?
According to Bloomberg, — Costco Wholesale Corp. announced a special dividend of $15 a share, while also posting profit that outpaced market estimates, as the warehouse-club chain continued a string of solid results. Data compiled by Bloomberg show it’s the company’s first special dividend since late
2020, when the big-box retailer paid out $10 a share. According to Reuters, – European Union countries agreed on a 12th package of sanctions against Russia, the European Council said on Thursday, meaning that a phased ban on Russian diamond imports among other measures will come into effect from Jan. 1.
According to Reuters, – Freeport LNG, which operates the second-largest U.S. liquefied natural gas export plant in Texas, agreed with the U.S. Environmental Protection Agency to settle safety violations related to a June 2022 blast that caused some $275 million in damage to the facility.
The consent agreement dated Monday, made public by Freeport LNG in a filing with the Federal Energy Regulatory Commission on Thursday, included a civil penalty of $163,054 for breaking chemical accident prevention rules under the Clean Air Act. According to Reuters, – The U.S. Food and Drug Administration on Thursday approved Merck’s
Drug belzutifan for a type of kidney cancer. The drug, branded as Welireg, is used to treat patients with renal cell carcinoma who have received prior treatment. According to Reuters, – Bankers in Asian equity capital markets are hopeful of a better year
In 2024 after a dismal showing for IPOs this year, noting that interest rates have stabilised globally but they add that elections across the region and in the U.S. could crimp demand. High interest rates, sticky inflation and geopolitical tensions have seen share sales
By Asia Pacific companies sink by a fifth in value so far this year to $229 billion, LSEG data shows. That’s put this year on course to be the weakest since 2012. According to Reuters, – The U.S. Chamber of Commerce and Comcast Corp said on Thursday
They oppose the Federal Communications Commission’s proposal to reinstate landmark net neutrality rules, while major tech firms backed the plan. The FCC in November voted to advance a proposal to assume new regulatory oversight over broadband internet rescinded under former President Donald Trump.
According to Reuters, – Mexico’s Nuevo Leon state approved $153 million in incentives for Tesla as the carmaker prepares to build a factory, the state government said in a statement on Thursday. The incentives, worth 2.627 billion pesos and approved by a state economic development council, include a reduction in Tesla’s payroll tax.
According to Reuters, – LATAM Airlines projected on Thursday record earnings for next year of between $2.6 billion and $2.9 billion. The metric, measured in adjusted earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs , would top the maximum expected for this year of $2.5 billion.
According to Reuters, – Citigroup has decided to close its municipal underwriting and market-making activities, according to a memo seen by Reuters. “The economics of these activities are no longer viable given our commitment to increase the firm’s overall returns,” said the memo, signed by Citigroup’s head of markets Andy
Morton and Peter Babej, interim head of banking. According to Reuters, – A union representing flight attendants of Southwest Airlines has called for a new vote to ratify the company’s contract offer after their voting service provider revealed a data leak.
The president of Transport Workers Union Local 556, in a video on the union’s Facebook page, said the vendor, True Ballot, had informed them “their system was unsecured, leaving it open to vulnerabilities”. According to Bloomberg, — Peru cut interest rates for a fourth straight meeting to a 14-month
Low with inflation now in retreat, allowing policymakers to focus on reviving an economy stuck in recession. The bank lowered its policy rate to 6.75% from 7% on Thursday, as expected by 10 of 13 analysts surveyed by Bloomberg. Three had forecast a bigger cut, to 6.50%.
According to Bloomberg, — Shares in Asia were poised to rise even as US shares signaled overbought levels as the euphoria following the Federal Reserve’s Wednesday meeting began to wane. Australian stocks and equity futures for Japan and Hong Kong all climbed.
After a surge that put the SP 500 within a striking distance of its all-time high, the gauge saw a small gain as valuations and “overbought” levels suggest equities are vulnerable to a pullback. The Nasdaq 100 fell after an over 50% surge in 2023.
According to Reuters, – Britain’s Prince Harry will learn on Friday whether he has won his lawsuit against a newspaper publisher over allegations of phone-hacking and other unlawful acts, the biggest ruling so far in his legal war against the British tabloid press.
The prince – who became the first senior British royal for 130 years to give evidence in court when he appeared as the star witness at the trial in June – is suing MGN, the publisher of the Daily Mirror, Sunday Mirror and Sunday People.
According to Bloomberg, — The dollar will surprise by getting stronger next year as the US economy outperforms, according to some of the world’s biggest money managers. Fidelity International, JPMorgan Chase Co., and HSBC Holdings Plc. are going against consensus by warning of dollar strength, while Loomis Sayles Co. says
A global economic slowdown will see traders flock to the world’s reserve currency. According to Reuters, – The unusual world of Hawkins, Indiana, came alive in London on Thursday as Netflix debuted a stage play based on its hit sci-fi series “Stranger Things.”
Called “Stranger Things: The First Shadow,” the play takes place in 1959, two decades before the period explored in the TV show. It was produced by Matt and Ross Duffer, the brothers who created the series. Jim Hopper and Joyce Maldonado – adult characters in the TV show – are seen as high school classmates
With normal teen concerns about cars and classes until a new student arrives. According to Bloomberg, — Singapore’s Temasek Holdings Pte and KKR Co. have joined a loan deal for Silver Lake Management LLC’s TEG Pty Ltd., according to people familiar with the matter, who asked not to be identified discussing a private matter.
The unitranche loan of around A$950 million has a five-year tenor and a margin of 550 basis points, one of the people said, in line with Bloomberg’s report in November. According to Bloomberg, — European Union member states reached a tentative agreement
Thursday on a 12th package of sanctions against Russia, according to people familiar with the matter, in a show of solidarity with Ukraine. The last remaining obstacles were technical objections from Austria, which agreed to back the deal Thursday before reversing course and reviving its hold, according to people familiar with the matter.
According to Bloomberg, — Indonesian tycoon Sukanto Tanoto has unveiled plans to buy Vinda International Holdings Ltd. shares including those from the largest shareholders of the Hong Kong-listed tissue maker. Sukanto’s family offers to buy Vinda shares it doesn’t already own for HK$23.5 each,
Representing a 13.5% premium to the last closing price, according to the exchange filing on Friday. Swedish personal care product maker Essity AB and Vinda’s founder Li Chaowang have agreed to sell their shares to the family. The two biggest shareholders own a combined 72.62% stake in Vinda.
According to Bloomberg, — Oil was poised to eke out its first weekly gain in almost two months after dovish signals from the Federal Reserve on Wednesday unleashed a bullish pulse across markets. West Texas Intermediate traded below $72 a barrel after rising more than 4% in the previous
Two sessions, with global benchmark Brent approaching $77. Treasuries have risen and the dollar weakened since Fed Chair Jerome Powell said that policymakers are now turning their focus on when to cut borrowing costs as inflation continues to drop. A softer greenback can boost the appeal of commodities priced in the currency.
According to Bloomberg, — Alphabet Inc.’s Google is changing its Maps tool so that the company no longer has access to users’ individual location histories, cutting off its ability to respond to law enforcement warrants that ask for data on everyone who was in the vicinity of a crime.
Google is changing its Location History feature on Google Maps, according to a blog post this week. The feature, which Google says is off by default, helps users remember where they’ve been. The company said Thursday that for users who have it enabled, location data will soon be
Saved directly on users’ devices, blocking Google from being able to see it, and, by extension, blocking law enforcement from being able to demand that information from Google. According to Bloomberg, — A joint venture that includes Blackstone Inc. and Canada Pension
Plan Investment Board has won a stake in a nearly $17 billion portfolio of commercial-property loans from the failed Signature Bank. The companies are also partnering with funds affiliated with Rialto Capital to acquire a 20% stake in the venture for $1.2 billion, according to a statement Thursday.
The Federal Deposit Insurance Corp. is maintaining an 80% stake in the venture and providing financing equal to 50% of the value. According to Reuters, – A U.S. security envoy had talks with Israel about shifting its strategy in Gaza toward surgical operations against Hamas from a broad ground campaign, and President
Joe Biden appealed for civilian lives in the Palestinian territory to be saved. With nightfall on Thursday, Israeli tanks and planes intensified bombardment of the northern Gaza neighbourhoods of Shejaia, Zeitoun and Daraj as well as Khan Younis in the south of the enclave, residents said.
Four people, including two children, were killed and several others wounded in an Israeli air strike on a house in Khan Younis in southern Gaza early on Friday, Palestinian health officials said. According to Reuters, – The final flight of Italy’s Vega rocket has been delayed after
Crucial parts went missing, while the latest test of Europe’s new Ariane 6 has been aborted, the European Space Agency said, the latest glitches to affect Europe’s troubled launch sector. The aborted test of the upper stage of Ariane 6 should not affect plans for an inaugural launch in mid-2024, ESA said.
According to Bloomberg, — Chinese-owned online marketplace Temu sued fast-fashion rival Shein in the US over what it called “intensified” anticompetitive practices, reviving a legal fight between the e-commerce upstarts after both had dropped earlier lawsuits against each other. Whaleco Inc., which operates as Temu, accused Shein of hatching a “desperate plan” to
Undercut its business in a 100-page filing to the US District Court for the District of Columbia — nearly triple the length of its original lawsuit. The Wednesday complaint alleged that Shein filed tens of thousands of copyright takedown notices against Temu, forced fashion suppliers into exclusive agreements, and threatened or even detained Temu merchants.
According to Reuters, – Citigroup’s Mexico retail unit, known as Banamex, is set to split off from its parent by the second half of 2024, the lender’s Mexico head Manuel Romo told local media on Thursday. The retail unit should then begin the process of going public in 2025, Romo said.
The offering could take place in Mexico or another country, he added. According to Bloomberg, — Treasury Secretary Janet Yellen said she plans to visit China again in 2024, seeking to deepen areas of cooperation and improve communication even as she vowed to continue confronting Beijing over national security concerns and human rights.
“A significant portion of the agenda will focus on discussing difficult areas of concern with my counterpart,” Yellen said of her plans for a second trip to China as Treasury secretary. The remarks came in a speech Thursday evening in Washington to the US-China Business Council.
According to Reuters, – The U.S. Embassy in Costa Rica said on Thursday it planned to organize a regional conference on protecting 5G networks in April next year, days after China rejected cyber-security and spying concerns raised by Costa Rica’s president. The embassy announcement follows a meeting between the Central American nation’s president,
Rodrigo Chaves, and U.S. Deputy Secretary of State Richard Verma. According to Reuters, – China’s new home prices fell for the fifth straight month in November, official data showed on Friday, as the sector still struggles to elbow its way out of a weak market in the face of dampened confidence in demand and investment.
New home prices fell 0.3% month-on-month after a similar 0.3% dip in October, according to Reuters calculations based on National Bureau of Statistics data. According to Reuters, – The dollar languished near four-month lows on Friday, weighed by growing prospects of U.S. interest rate cuts next year, while the euro and pound found
Support as the central banks there reiterated the need for rates to stay higher for longer. In an action-packed week for central banks, traders found more clarity on when interest rate cuts were likely after Federal Reserve Chair Jerome Powell said at Wednesday’s meeting
That the tightening of monetary policy is likely over, with a discussion of cuts coming “into view”. According to Reuters, – Oil prices rose in early Asian trade on Friday, on track to notch their first weekly rise in two months after benefiting from a bullish forecast from the
International Energy Agency on oil demand for next year and a weaker dollar. Brent futures rose 9 cents to $76.70 a barrel at 0006 GMT. U.S. West Texas Intermediate crude climbed 10 cents to $71.68. According to Reuters, – Property sales by floor area in China fell 8.0% year-on-year
In January-November, compared with a 7.8% slump in the first 10 months of 2023, piling more pressure on policymakers to intensify efforts to shore up demand. Property investment in the first eleven months of 2023 declined 9.4% from a year earlier, after dropping 9.3% in January-October, according to data from the National Bureau of Statistics
Released on Friday. According to Reuters, – North Korea may test-launch an intercontinental ballistic missile this month, a senior South Korean official said on Friday before discussions with U.S. officials on responses to Pyongyang’s nuclear weapons threats. Kim Tae-hyo, South Korea’s deputy national security adviser, declined to elaborate on
The basis of his comments but said North Korea’s ballistic missiles are the focus of Washington’s “extended deterrence” strategy. According to Reuters, – The U.S. welcomed the European Union’s decision on Thursday to open membership talks with Ukraine and Moldova, the State Department said in a statement.
It also applauded the EU’s decision to grant EU candidate status to Georgia and open membership negotiations with Bosnia and Herzegovina, the statement said. According to Reuters, – Australia will give its central bank new powers to take over and if necessary, wind up, clearing and settlement providers at risk of failure, according to
Draft legislation released on Friday. In the event of a major financial crisis or insolvency, the Reserve Bank of Australia will be empowered to direct the operations of a distressed clearing and settlement provider to keep markets functioning and even orchestrate a breakup or sale.
According to Reuters, – Asian shares hit a three-month peak on Friday as sharp declines in the dollar and U.S. yields extended the Fed-fuelled rally, but pushback on rate cuts from central banks in Europe may deal a blow to the global pivot hopes.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7% to the highest since early September and was up 2.5% for the week. Japan’s Nikkei jumped 1.2%, also heading for a weekly gain of 2.5%. According to Reuters, – Hungary held up a European Union deal on Friday on 50 billion
Euros for Ukraine from the EU budget and EU leaders decided to return to the discussion in January, Dutch Prime Minister Mark Rutte said. Rutte said 26 EU countries were in agreement to provide Ukraine with the money from the EU budget until 2027, but Hungary was against that decision, which requires unanimity.
According to Bloomberg, — China’s central bank injected the most cash via one-year policy loans on record, as it seeks to support an economy suffering from a housing slump and weak demand. The People’s Bank of China offered commercial lenders 1.45 trillion yuan via its medium-term
Lending facility — 800 billion yuan more than the expected maturity this month. The net injection was more than twice the amount seen by analysts surveyed in a Bloomberg survey and was also larger than the infusion last month. According to Bloomberg, — China’s industrial production beat expectations last month, though
Its boost from favorable comparisons to a Covid-hit period in 2022 means that result is unlikely to quell concerns about growth next year. Industrial output rose 6.6% last month from a year earlier, the National Bureau of Statistics said Friday, versus a median estimate for a 5.7% increase.
Retail sales expanded 10.1%, slower than a projected 12.5% jump. According to Reuters, – China on Thursday successfully launched a reusable robotic spacecraft for the third time since 2020, in a series of secretive orbital test flights that it says are aimed at developing reusable technologies to reduce space mission costs.
The uncrewed spacecraft was launched atop a Long March 2F rocket, the same rocket series used by China to transport its astronauts to space, at the Jiuquan Satellite Launch Center in northwest China on Thursday, according to state media. According to Reuters, – China’s property sector worsened in November as negative home buyer
Sentiment and indebted developers drove down sales and investment, while broader retail sector activity missed forecasts as recent stimulus struggled to revive demand. The world’s second-largest economy has struggled to mount a strong post-COVID recovery as distress in the housing market, local government debt risks and weakening global demand slowed momentum.
While the Asian giant grew faster-than-expected in the third quarter, domestic demand has remained tepid and manufacturers have had to discount prices to find buyers. According to Reuters, – Chinese tech giant Tencent Holdings on Friday launched “DreamStar”,
A new party game that has been widely anticipated by users and pegged by analysts to pose a threat to domestic arch rival NetEase. “DreamStar”, in which gamers play as cartoon characters to race in an obstacle course, is seen as Tencent’s move to take on NetEase’ massively popular game “Egg Party”, a surprise
Hit which has helped lift NetEase shares by more than 40% this year. According to Reuters, – A long-awaited national security trial opens in Hong Kong on Monday for leading China critic and media tycoon Jimmy Lai, who faces possible life imprisonment on charges he colluded with foreign forces, including the United States.
Foreign envoys, business people and legal scholars will be watching the trial closely, saying it looms as a fresh diplomatic flashpoint and a key test for the city’s judicial independence and freedoms under the sweeping national security law imposed by China in 2020.
According to Bloomberg, — Global Payments Inc. is weighing an acquisition of Shift4 Payments Inc., people with knowledge of the matter said. Atlanta-based Global Payments has been working with an adviser to study the feasibility of a deal for Shift4, according to the people, who asked not to be identified discussing confidential information.
According to Reuters, – Chinese leaders agreed at an annual meeting on the economy this week to run a budget deficit of 3% of gross domestic product in 2024, three sources with knowledge of the matter said, while other fiscal support may be covered by off-budget debt.
While the deficit figure is lower than this year’s revised 3.8% target, suggesting Beijing wants to maintain fiscal discipline and is not considering a big fiscal bazooka next year, the option to issue off-budget sovereign debt gives it flexibility to step up stimulus to maintain stable economic growth.
According to Reuters, – Facebook-owner Meta and China’s TikTok restricted a record number of social media posts and accounts in Malaysia in the first six months of 2023, data published by the firms showed, amid a jump in government requests to remove content.
Malaysia Prime Minister Anwar Ibrahim’s administration, which came to power in November 2022 on a reformist platform, has faced accusations of backpedaling on its promises to protect freedom of speech amid increased scrutiny of online content in recent months. According to Bloomberg, — Chinese steel production looks set for its first annual gain in three
Years as economic concerns are prioritized over the need to cut emissions from the highly pollutive sector. Output in November fell 3.8% from the previous month to 76.1 million tons, the statistics bureau said Friday. However, the December figure would need to drop to less than 61 million tons, the lowest
Monthly total in 11 years, to prevent annual output topping last year’s 1.013 billion tons. According to Bloomberg, — Activity in Japan’s factory sector deteriorated to a level matching a three-year low, a pessimistic data point for Bank of Japan officials to mull when they meet to decide policy next week.
The au Jibun Bank’s purchasing managers index of activity in Japan’s manufacturing sector dipped to 47.7 in December, the lowest since February and matching the level back in September 2020, when the economy was starting to emerge from the pandemic. The gauge has languished below the 50 mark that separates a contraction from an expansion
For seven consecutive months. According to Reuters, – The Bank of Japan will begin to unwind its ultra-loose monetary settings as early as January, more than a fifth of economists in a Reuters poll said, heightening expectations the controversial policy era is near an end.
At the same time, over 80% of economists are expecting the Japanese central bank to ditch negative interest rates by the end of next year, a key pillar of the accommodative monetary regime, the Dec. 8-14 poll showed. According to Bloomberg, — Chinese microblogging site Weibo Corp. is asking some of its users
Not to post negative content about the economy, a move that underscores concerns about sputtering domestic growth. The social media service, often compared with X, sent notices to users warning them to “avoid expressing pessimism about the economy,” according to a memo circulating online that one recipient confirmed to Bloomberg News.
According to Bloomberg, — The Hong Kong government has hired five banks to explore a series of digital green bond sales, following a maiden offering earlier this year. The city has appointed HSBC Holdings Plc, Credit Agricole CIB, Bank of China , Industrial
And Commercial Bank of China Ltd., and UBS Group AG to form a working group to explore the possibility of a multi-series fixed rate digitally native green bond issuance, according to people familiar with the matter who requested anonymity discussing private matters.
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0:00:00 – Intro
0:00:06 – ATTENTION
0:00:12 – Recommendation
0:00:18 – Timestamps reminder
0:00:23 – Buy Me a Coffee
0:00:27 – (Bloomberg) Hong Kong Holds Rate as Fed Signals Cuts Next Year
0:00:55 – (Reuters) S.Korea regulator to take innovation more into account on crypto regulations
0:01:20 – (Bloomberg) Stocks, Bonds Rally as Dollar Retreats After Fed: Markets Wrap
0:01:53 – (Reuters) Analysis-Japan's political scandal may clear path for easy policy exit
0:02:20 – (Bloomberg) Nasdaq Reverses Some Stock Orders After Glitch Hits Trades
0:02:52 – (Reuters) Low-cost e-commerce player Temu files new lawsuit against rival Shein
0:03:24 – (Bloomberg) Dollar Drops to Weakest Since August as Traders Eye Fed Pivot
0:03:51 – (Bloomberg) Toronto Exchange Owner Buys ETF Index Firm in Financial-Data Strategy
0:04:17 – (Bloomberg) Fed-Induced Asia Rally Has Scope to Extend Into 2024: Analysts
0:04:38 – (Reuters) Japan's central bank to sit tight on policy, may drop hints on pivot
0:05:03 – (Reuters) US EPA must do more to ensure captured carbon stays underground -report
0:05:37 – (Reuters) UPDATE 1-Hong Kong central bank leaves interest rate unchanged, tracks Fed
0:05:59 – (Reuters) Retailer group files official complaint to EU about French pricing law
0:06:29 – (Reuters) Germany's SEFE seeks US approval for Venture Global's CP2 LNG project
0:06:57 – (Reuters) Woodside, Santos proposed $52 billion tie-up unlikely to be sealed until at least Feb -source
0:07:27 – (Reuters) JGB yields fall with US peers on Fed pivot; poor auction limits decline
0:07:47 – (Reuters) GLOBAL MARKETS-Asian stocks follow Wall Street higher; yields and dollar down
0:08:05 – (Reuters) INDIA BONDS-India bond yields edge lower on dovish US Fed
0:08:33 – (Reuters) UPDATE 1-ANZ appeals court decision over troubled 2015 share placement worth $1.7 bln
0:09:07 – (Bloomberg) GoTo Struck Tiktok Deal to Halt Market Share Slide, CEO Says
0:09:36 – (Reuters) GRAPHIC-How F-16 fighter jets could reshape Ukraine's aerial battlefield
0:10:06 – (Reuters) WRAPUP 1-Israel strikes southern Gaza, faces calls to reduce civilian toll
0:10:32 – (Reuters) Europe's stock exchanges face calls to reform fees to challenge Wall St
0:10:56 – (Reuters) Gaza faces 'perfect storm' of deadly diseases
0:11:21 – (Reuters) Analysis-Investors cheer Fed's dovish pivot, as focus shifts to 2024 risks
0:11:48 – (Reuters) RPT-GRAPHIC-Argentina's Milei needs to deactivate $400 bln 'debt bomb'
0:12:12 – (Bloomberg) Billionaire Adani’s New Copper Foray to Further Tighten World’s Ore Supply
0:12:48 – (Bloomberg) Yen Jumps More Than 1% on Bets of More Aggressive Fed Cuts
0:13:26 – (Bloomberg) European Stock Futures Rally on Fed Pivot Before ECB Decision
0:13:51 – (Bloomberg) ECB Rate-Cut Pushback to Hinge on New Forecasts
0:14:24 – (Bloomberg) US Is Working With Allies to Stop Houthi Red Sea Attacks
0:14:59 – (Bloomberg) Oil Rises From Five-Month Low on Fed Pivot, Inventory Drawdown
0:15:29 – (Bloomberg) Goldman Revises Fed Call, Now Seeing ‘Earlier and Faster’ Cuts
0:16:01 – (Bloomberg) BOJ Set to Stay Outlier as 2024 Hike Seen in Contrast to Fed
0:16:26 – (Reuters) UPDATE 1-EU parliament, member states agree on new corporate sustainability law
0:16:50 – (Bloomberg) Japan to Use More Tax Incentives to Encourage Wage Increases
0:17:27 – (Reuters) Russian rouble strengthens to near two-week high against the dollar
0:17:54 – (Reuters) UPDATE 1-ECB has tough job to fight rate cut bets as inflation falls
0:18:20 – (Reuters) RPT-Luxury slowdown prompts fears of inventory pile-up over key holiday season
0:18:49 – (Bloomberg) Oil Demand Growth in India to Taper in 2024 After Bumper Run
0:19:30 – (Reuters) Spain airport ground service workers plan New Year strike, Iberia says
0:19:58 – (Reuters) Big Tobacco's transition under fire as WHO targets vaping
0:20:22 – (Reuters) Ban flavoured vapes, WHO says, urging tobacco-style controls
0:20:48 – (Reuters) UPDATE 1-Investors add to bets on Bank of England rate cuts in 2024
0:21:13 – (Reuters) UPDATE 1-Taiwan c.bank cuts GDP outlook, stands pat on rates
0:21:47 – (Reuters) Owner of former Volvo truck plant in Russia relaunches production
0:22:20 – (Reuters) Virgin Australia averts strikes with cabin crew pay deal
0:22:41 – (Reuters) Swiss National Bank keeps interest rate at 1.75% as expected
0:23:11 – (Bloomberg) Billionaire Bollore to Break Up Vivendi, Sending Shares Surging
0:23:36 – (Bloomberg) Swedish Real Estate, Mining Stocks Lead Post-Fed Rally in Europe
0:24:08 – (Reuters) SNB focused on maintaining cash access – vice chairman
0:24:31 – (Reuters) UPDATE 2-Norway hikes rates by 25 basis points in surprise decision
0:24:59 – (Reuters) China's central bank set to boost liquidity injection but keep key rate unchanged
0:25:28 – (Reuters) China solar panel costs drop 42% from year ago – report
0:25:59 – (Reuters) EU top court scraps 250 million euro tax order vs Amazon
0:26:30 – (Bloomberg) Norway Hikes Rate One More Time in Defiance of Global Mood Shift
0:26:57 – (Reuters) MOVES-China's newest refiner Yulong hires ex-PetroChina trading exec as Singapore GM
0:27:31 – (Reuters) Chinese AI startup 01.AI looks to raise $200 million -sources
0:28:02 – (Reuters) Sterling firms on dollar, all eyes on Bank of England
0:28:26 – (Reuters) U.S. seeks 'broadest possible' Red Sea maritime coalition against Houthi attacks
0:28:55 – (Reuters) Mitsubishi, Freeport completes copper smelter expansion in Indonesia
0:29:23 – (Reuters) Vietnam's VinaCapital explores sale of renewable energy firm SkyX Solar – sources
0:29:51 – (Reuters) UPDATE 1-Putin: Russian inflation could near 8% this year
0:30:21 – (Reuters) 'Barbie' director Greta Gerwig to head Cannes Film Festival jury
0:30:50 – (Bloomberg) SNB Calls End to Hiking Cycle, Signals Shift in Franc Policy
0:31:16 – (Bloomberg) Billionaire Bolloré Eyes Vivendi Breakup in Strategic U-Turn
0:31:41 – (Reuters) REFILE-Putin says Russia strengthening position across frontlines in Ukraine
0:32:01 – (Reuters) Aramco turns to big data to shape M&A and boost profit – executive
0:32:29 – (Reuters) Venezuela, Guyana presidents to meet amid territorial dispute
0:32:57 – (Reuters) GLOBAL MARKETS-Supercharged markets surge on interest rate cut signals
0:33:27 – (Reuters) Putin tells Russians the war in Ukraine will go on unless Kyiv does a deal
0:33:59 – (Bloomberg) Amazon Wins Top EU Court Clash Over €250 Million Tax Bill
0:34:25 – (Reuters) INDIA STOCKS-Indian shares resume record-breaking surge on fresh Fed fuel
0:34:53 – (Reuters) OECD sees long-term growth prospects almost halving in major economies
0:35:21 – (Yahoo Finance) US bankruptcy filings on pace to reach highest level since 2020
0:35:50 – (Reuters) FOCUS-GM's Barra reboots her 10-year effort to lift stagnant shares
0:36:26 – (Reuters) Pope calls for binding global treaty on artificial intelligence
0:36:49 – (Reuters) How Trump netted evangelical votes in Iowa — with help from a young Christian operative
0:37:16 – (Reuters) Elon Musk and SEC to face off in court over Twitter testimony
0:37:46 – (Reuters) CORRECTED-UPDATE 1-China's Beijing, Shanghai loosen home buying restrictions to aid housing market
0:38:16 – (Reuters) UPDATE 1-Dozens of drugmakers may be subject to rebates over price hikes – White House
0:38:44 – (Reuters) Futures rise after Fed's dovish pivot
0:39:12 – (Reuters) Telecom Italia launches microchip to boost cybersecurity services
0:39:34 – (Reuters) Benefits of Moderna and Merck melanoma vaccine plus Keytruda extend to three years
0:40:03 – (Bloomberg) Apple Is So Big, It’s Almost Eclipsing France’s Stock Market
0:40:38 – (Reuters) EU risks losing ground in EVs without strong industry strategy – ACEA
0:41:13 – (Reuters) Exclusive-Guggenheim oil and gas bankers leave for Moelis after mega-deal miss -sources
0:41:54 – (Reuters) UPDATE 1-Putin says he hopes for prisoner swap for Gershkovich, Whelan but talks are "not simple"
0:42:23 – (Reuters) UPDATE 1-Ukraine's c.bank lowers key rate to 15% in fourth consecutive wartime cut
0:42:48 – (Reuters) Airbus lands order for up to 82 H145M helicopters for German forces
0:43:17 – (Reuters) German gas storage operators: will get through winter well
0:43:38 – (Reuters) Sterling strengthens after BoE says rates to stay high
0:44:07 – (Reuters) Quantum computing and the mysteries of "very small things"
0:44:49 – (Yahoo Finance) Stock market news today: US futures rise as Fed-fueled euphoria reigns
0:45:21 – (Bloomberg) Startups Face Grim Holiday Season as Layoffs, Closures Mount
0:46:06 – (Reuters) German public prosecutor brings charges against ex-Wirecard CFO
0:46:33 – (Reuters) Italian police seize $94 mln from UPS over alleged tax and labour offences
0:47:00 – (Reuters) US STOCKS-Futures rise after Fed signals rate cuts are on the horizon
0:47:28 – (Reuters) UPDATE 1-Kyivstar may need weeks to restore all services after cyber attack – CEO
0:47:57 – (Reuters) UPDATE 1-Apellis says EU regulator panel may not back its eye disease drug
0:48:24 – (Reuters) UPDATE 1-Bank of England pushes back against rate cut speculation
0:48:49 – (Reuters) UPDATE 1-Ukraine's Zelenskiy urges EU leaders to back membership talks
0:49:15 – (Reuters) UPDATE 1-Government guarantees incur around $547 mln in fees for Siemens Energy – sources
0:49:42 – (Reuters) China EV maker Zeekr unveils fast-charging LFP battery
0:50:05 – (Reuters) UPDATE 1-Brazil retail sales fall in October, adding to signs of economic slowdown
0:50:40 – (Reuters) Call centre software firm Aircall names Scott Chancellor as new CEO
0:51:06 – (Reuters) AT&T to buy Rivian electric vehicles in pilot deal to cut cost, emissions