ATFX Welcomes Graham Morris as the New Head of Compliance for Australia LeapRate

March 21, 2024 BY PureContent

ATFX Welcomes Graham Morris as the New Head of Compliance for Australia

Graham is set to bring a vast reservoir of compliance expertise and industry knowledge to the firm, which will be instrumental in enhancing ATFX’s regulatory frameworks and overseeing compliance matters within the Australian financial market. Graham comes to ATFX with an impressive professional background, having previously served in key compliance roles for notable financial companies.…

March 20, 2024 BY PureContent

Weekly Data: Oil and Gold: Brief Review before the Fed

Below, we look at the key factors impacting economic data this week. Wednesday: UK inflation rate at 7:00am GMT. The consensus is for a decline from 4% to 3.5% in February. If these forecasts hold true, it could mark the lowest yearly inflation figure for Britain and might lead to slight losses for the pound,…

March 20, 2024 BY Simon Mugo

ECB Refuses To Commit to a Rate Cut Path After First Rate Cut

Lagarde sought to temper expectations of a clear-cut path for rate cuts while acknowledging positive signs in recent wage and inflation trends. During a Frankfurt conference, she explained that "our actions will need to be informed by the latest data at each meeting without committing in advance to a fixed trajectory for future rates." Supporting…

March 20, 2024 BY Simon Mugo

Lloyds Bank Partners With PayPoint on Card Payment Service

Under this new agreement, PayPoint has committed to a "significant investment" in Lloyds' card payments division, Cardnet. This investment is expected to bolster the capabilities and reach of Lloyds Bank's card services, enhancing the suite of payment solutions available to merchants across the UK. The partnership is designed to bring many advantages to merchants, offering…

March 20, 2024 BY Elizabeth Anderson

Unilever cuts 7,500 jobs and spins off ice cream segment to boost profits

The company manufactures diverse consumer products, including globally well-known brands such as Ben & Jerry’s, Dove, and Horlicks. The company said that these moves form part of its Growth Action Plan and the initiation of a major productivity programme. It further indicated that the ice cream segment’s alternative operating model justifies the planned spin-off and…

March 20, 2024 BY Elizabeth Anderson

Nvidia stock trips after launch of B200 Blackwell Chip

At the ring of the closing bell, the company's stock was up about 1% but slipped again by 0.42% in after-hours trading. Analysts believe waiting for more details about the chipmaker's new B200 Blackwell microprocessor contributed to these marginal stock movements. Over the past year, Nvidia's shares increased more than three times in value. Jensen…

March 20, 2024 BY Robert Bell

Altria to raise $2.4bn by selling BUD shares

Altria is going to sell 35 million shares of BUD in a public offering at a price of $61.50 per share. It also plans to sell $200m of the stock straight back to Anheuser-Busch. This would give the firm a total of $2.4bn. An option of Anheuser-Busch purchasing an extra 5.25 million shares worth $323m…

March 19, 2024 BY Simon Mugo

Robinhood Launches UK Operations Without Margin Trading

A Robinhood spokesperson told Reuters that margin trading was temporarily halted while ongoing discussions with regulatory authorities occur. Margin trading, which provides traders with leverage to amplify their market positions, carries a high risk due to the potential for significant losses if markets turn adverse. Initially, Robinhood had a webpage for its UK audience detailing…

March 19, 2024 BY Simon Mugo

BOJ Ends Negative Interest Rates With a First Rate Hike in 17 Years

This development positions Japan as the final major central bank to move away from negative rates, signalling the end of a global trend in which economies were buoyed by inexpensive capital and novel financial strategies. "We have transitioned back to a standard monetary policy that focuses on short-term interest rates, aligning with practices of other…

March 19, 2024 BY Robert Bell

Adobe loses value as weak sales predicted

The company’s revenue is expected to be between $5.25bn and $5.3bn this quarter, according to a statement released on Thursday. This falls slightly short of the initial projections of $5.31bn. However, profits are expected to exceed predictions, reaching as high as $4.40 per share rather than analysts’ average estimate of $4.38. ADBE has been a…