Forbes reported that January cuts reached an approximate 15-year high as more than 82,000 employees lost their jobs in US-based companies. The media agent attributes these movements to persistent interest rate hikes during 2023. Société Générale’s planned job cuts make up around 5% of the employees at its headquarters and less than 2% of its…
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This notice attempted to appease individual investors amid the sell-off of property shares and reported state-sanctioned buying of national banks and other prominent stocks, which boosted the share price of these institutions. The CSRC claimed that it would stamp out share price manipulation and what it termed “malicious short selling”. While technology stocks suffered, banks…
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The most important economic data for this week: Monday: US Services PMI at 15:00 GMT for January. The consensus is for an increase from 50.6 points to 52. This might be rather bullish news for the dollar since it would mean the services sector in the States is still expanding, given that the actual figure…
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The announcement led to a 10% surge in the share price of Italy's second-largest bank, reaching a nine-year peak. It was fueled by its strong earnings performance and a positive outlook in a year when interest rates are anticipated to begin falling. While other major European banks adopted a more reserved stance in their full-year…
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The Sentix investor confidence index for the eurozone climbed to -12.9 points in February from -15.8 points in January, surpassing the -15.0 points forecasted by a Reuters poll of analysts. Germany, the bloc's biggest economy, is still facing economic challenges, which are weighing down on the overall region, Sentix reported, describing the situation in Germany…
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Fusion Digital Assets is the crypto arm of TCAP, a global provider of market infrastructure and data solutions offering spot trading in Bitcoin and Ether against USD. FalconX is the largest institutional prime broker for digital assets. According to Tom Flanagan, global head of execution and liquidity management at TP ICAP Digital Assets, the partnership…
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This development puts Tesla on the back foot as the payment scheme was tailored to ensure Musk’s commitment to the company, despite his SpaceX and X ventures. In 2018, when this package was tabled, many regarded it as far-fetched. After the court decision, Musk took to his social media platform, X, and commented: Never incorporate…
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Amazon’s Q4 revenue, which totalled $170bn, beat the expected $166.2bn by almost $4bn. Experts attributed the financial success of this company to the synergy between its diverse segments. The reported totals boosted investor confidence, and Amazon closed its Friday, 2 February 2024, trading up 7.87%. Apple followed suit with its Q1 earnings and defied analyst…
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One source in the exclusive report noted that this strategic move is part of Alibaba's refocused strategy under the leadership of chairman Joe Tsai and the newly appointed CEO Eddie Wu, aiming to concentrate on its original and profitable e-commerce operations while stepping away from non-essential and unprofitable segments. The company has initiated discussions with…
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Furthermore, Interactive Brokers noted a climb in ending client equity to $424.0 billion, a 26% increase year-over-year, with the figures remaining consistent with the previous month's tally. The data also highlighted ending client margin loan balances of $44.3 billion, showing a robust 12% growth year-over-year, with stability month-over-month. Client credit balances, which include $3.8 billion…
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