Last week, LeapRate reported on job cuts in the finance and tech sectors. Based on Challenger, Gray & Christmas information, US-based layoffs in January increased by 136% compared to December 2023. Challenger Report data shows that the finance sector axed 23,238 jobs. This report stated: With the exception of last January’s total, this is the…
Read more
Nvidia outpaced the market values of both Amazon.com, Inc. (AMZN) and Alphabet Inc. (GOOG) earlier this week, making it the third-most valuable company in the US. In the last 12 months, the chipmaker’s stock has grown by 200% as the insatiable demand for microchips shows no signs of slowing. Don’t miss out the latest news,…
Read more
Under this innovative program, Bank of America's extensive customer base of 45 million cardholders now has the opportunity to earn 2% cash back on their Starbucks purchases. Cardholders must link their Bank of America accounts with their Starbucks Rewards accounts to avail of this benefit. Furthermore, the program is designed to reward customers more generously…
Read more
Societe Generale, with advisory services from Rothschild & Co, has initiated seeking potential buyers through an auction for Kleinwort Hambros, as mentioned by two sources. The French banking conglomerate is also preparing to divest its private banking operations in Switzerland, aligning with its strategy to streamline its business portfolio, the sources added. Kleinwort Hambros, which…
Read more
Gasoline and distillate went in the opposite direction and declined, the reason likely being BP's (LON: BP) shutdown of its Whiting and Indiana oil refineries, the biggest in the Midwest. The Whiting refinery underwent an extensive modernisation project that was completed in 2013. It cost over $4.2bn and greatly increased the refinery's capacity to process…
Read more
The arrests comprised a significant operation involving more than 38 FCA and NCA officers across three residential sites. During this exercise, the authorities also seized several tech devices. After interviewing the suspects, two were released under investigation and one on unconditional bail. The fourth, a 48-year-old man, also remains under investigation. Don’t miss out the…
Read more
At one stage, the Bitcoin price reached $52,328.53, the highest in over two years. This 5.56% increase took the virtual currency’s market cap to $1,026tn. Reuters indicated that, since the start of this month, the Bitcoin price rose by 22%. LSEG Lipper data shows recent capital inflows of $1.64bn into the US spot Bitcoin ETFs…
Read more
They emphasise that any potential policy relaxation remains more distant than market participants anticipate. Current market expectations have adjusted to anticipate 113 basis points in rate reductions this year, a decrease from previously anticipated 150 basis points, with the initial adjustment forecasted for either April or June. Speaking at a conference in Split, Croatia, de…
Read more
An internal communication, initially disclosed by Bloomberg News and subsequently verified by Reuters, revealed that Santander's global head of communications announced the bank had undertaken an extensive examination of connections to entities and individuals mentioned in the FT report. The investigation concluded that there were no sanctions breaches within any segment of Santander's international operations.…
Read more
This sudden change in the rate cut timetable expectations has impacted treasury yields, with the yield on two-year Treasuries, which is sensitive to interest rate expectations, rising to 4.62%. The increase in borrowing costs, in turn, has caused bond prices to fall and led to a decline in interest rate futures. Richmond Federal Reserve Bank…
Read more