Credit Suisse Fined $3.9 Million by Singapore for Relationship Managers Misconduct LeapRate

December 28, 2023 BY Sam Boughedda

Credit Suisse Fined $3.9 Million by Singapore for Relationship Managers Misconduct

According to the MAS, the relationship managers provided clients with inaccurate or incomplete post-trade disclosures, resulting in their clients being charged spreads above the bilaterally agreed rates for 39 over-the-counter (OTC) bond transactions. For the 39 transactions, MAS stated that Credit Suisse's relationship managers made false statements to their clients regarding the executed interbank prices…

December 27, 2023 BY Sam Boughedda

StoneX to Adopt Swift Payment Pre-validation Service

Cross-border payments have notoriously been plagued by complexities, including regulatory hurdles, bank downtime, and rising competition. In addition, inaccurate beneficiary details alone account for nearly a third of failed cross-border transactions, incurring significant costs and delays, according to the financial services company. Recognising the challenges, Swift said it has introduced its Payment Pre-validation service, which…

December 27, 2023 BY Elizabeth Anderson

Tesla is losing EV race to Buffett-backed BYD

According to Bloomberg, China-based BYD is expected to achieve this milestone in the current quarter. China, now a key contender in global passenger car exports, shipped 1.3 million EVs out of 3.6 million total vehicles as of October this year. Despite BYD being relatively unknown outside China, its success is evident through substantial investments, including Warren…

December 27, 2023 BY Elizabeth Anderson

easyJet share price up 15% this month

Investor sentiment favours the low-cost short-haul airline over IAG, which specialises in longer-haul flights, and experts note that a strong jobs market in Europe is contributing to an increased demand for short-haul air travel. Longer flight times have yet to pick up since the end of the COVID-19 pandemic despite a strong macroeconomic outlook. Don’t…

December 27, 2023 BY Elizabeth Anderson

Toyota releases promising figures as 2023 curtains close

At the beginning of 2023, Toyota, the largest automaker in the world, set itself the task of selling 10 million vehicles bearing the Lexus and Toyota brands, and as the year comes to an end beside promising data across three continents, the motor company is on track to complete this mission. Data shows that approximately…

December 22, 2023 BY Elizabeth Anderson

Exness wraps up 2023 with 15-year anniversary celebrations

The broker’s senior management offered insight on “The Future of Exness”, and teased an exclusive launch set to drop in January 2024. The presentations were accompanied by fine-dining and musical entertainment, notably from Context, Who Made Who, Alma Linda, Playtronica Satori, Curiosity Media Lab, and Diana Vishneva. Throughout the evening, management discussed Exness’ future roadmap,…

December 22, 2023 BY Simon Mugo

Bitget Unveils Plan To Serve the Bitcoin Ecosystem Better

The strategic plan of Bitget Wallet is expansive, covering a wide array of services specifically tailored to the Bitcoin ecosystem. Platform users can look forward to robust BTC asset management, seamless cross-chain swaps, support for both EOA and MPC wallets, compatibility with Taproot, and efficient asset transfers for BRC-20 tokens and NFTs. Additionally, Bitget Wallet…

December 22, 2023 BY Elizabeth Anderson

Oil prices down by more than $1 after Angolan exit from OPEC

At a stage, brent crude was down 1.63% at $1.30 per barrel. US West Texas Intermediate crude clocked a 1.60% or $1.19 loss. Reportedly, in November, OPEC proposed cutting Angola’s 2024 production quota, which is approximately 1.1 million barrels per day. Reuters quoted a UBS analyst who commented: From an oil market supply perspective, the…

December 22, 2023 BY Simon Mugo

CFI Launches AI Trading Assistant To Ease Trading for Its Clients

With these advancements, CFI aims to transform the landscape of online trading by introducing new, innovative tools and approaches. These developments address traders' most pressing challenges, including managing risk, controlling emotional decision-making, simplifying access to critical trading information, and enhancing automation in trading activities. The AI Assistant is envisaged as a vital ally to traders,…

December 22, 2023 BY Elizabeth Anderson

Hedge fund performance in 2023

Data shows fluctuating market highs and lows put many global hedge funds on the back foot. Moves, such as losses when trading on macroeconomic events drew the shortest straw due to the unanticipated rebound in government bonds. Other investments, such as those related to US tech stocks, hit their marks. Compared to hedge fund performances…