Rising AI costs a stumbling block for big tech stock performance LeapRate

February 01, 2024 BY Elizabeth Anderson

Rising AI costs a stumbling block for big tech stock performance

Alphabet stocks took a 7.35% knock after publishing its leaner-than-expected festive advertising sales figures on Tuesday, 30 January. The tech giant also indicated that more money will go into boosting its AI leverage by investing in upscaled servers, for example. Alphabet CEO Sundar Pichai tried to bolster investor confidence by saying: We are pleased with…

January 31, 2024 BY Simon Mugo

Westpac Bank Fined $1.8M for Unconscionable $12Bn Swap Deal

The Court identified Westpac's approach in the pre-hedging phase of the interest rate swap as unconscionable. The verdict underscores the importance of maintaining ethical standards in financial dealings, particularly high-value transactions. Sarah Court, the Deputy Chairwoman of the Australian Securities and Investments Commission (ASIC), stressed the global necessity of proper conduct in pre-hedging activities. She…

January 31, 2024 BY Simon Mugo

China’s Country Garden Plans To Sell London Property Worth $570M

Knight Frank, a real estate agency, has been tasked by Risland UK, a subsidiary of Country Garden, to oversee the sale of the Calico Wharf development. This project, proposed to house 1,000 homes, is located in the Poplar area of London and is yet to commence construction. As China's leading private property developer, Country Garden…

January 31, 2024 BY PureContent

Fintel acquires Owen James Events and Synaptic Software

A flurry of important updates began with the closure of a £3.5m deal for Synaptic Software. The acquisition was announced in early December and has been pending FCA approval. Now the green light has been given. The deal is quite a coup for Fintel as Synaptic already serves thousands of financial advisers with its compliance…

January 31, 2024 BY Elizabeth Anderson

ChatGPT steps on toes of EU data privacy rules

Following the temporary ban on processing imposed on OpenAI by the Italian DPA on 30 March 2023, and based on the outcome of its fact-finding activity, the Italian DPA concluded that the available evidence pointed to the existence of breaches of the provisions contained in the EU GDPR. The machine-learning startup grabbed the November 2023 headlines when…

January 31, 2024 BY Elizabeth Anderson

Bitcoin worth $2.17bn seized in Germany

The US government claimed 51,680 bitcoin in the now-known Silk Road dark net operation on 21 November 2021. This recovery totalled a value of $3.4bn at that time. The latest Arkham data shows the US government possesses an estimated $9.26bn in bitcoin. In an April 2023 announcement, the US Attorney’s Office Southern District of New…

January 30, 2024 BY Simon Mugo

The Financial Commission Adds VT Markets as a Dispute Resolution Member

Established in 2015, VT Markets has distinguished itself as a global broker in multi-asset CFD trading and has now achieved the prestigious status of an Approved Broker Member of the Financial Commission. Effective January 30th, 2024, this membership provides VT Markets and its clients with various benefits, including coverage of up to €20,000 per complaint…

January 30, 2024 BY Simon Mugo

IMF Revises Its Economic Outlook As Global ‘Soft Landing’ Seems Likely

IMF Chief Economist Pierre-Olivier Gourinchas highlighted the updated World Economic Outlook, indicating that the global economy is approaching a 'soft landing' phase. However, he cautioned that while inflation is steadily declining and growth is maintained, the expansion's pace remains slow, and potential challenges lie ahead. The IMF's optimism is bolstered by increased public and private…

January 30, 2024 BY PureContent

Analysing IUX Markets' Phenomenal Growth: An Expository Overview

This article aims to dissect the factors contributing to IUX Markets' significant progress, focusing on the latter half of 2023, a period marked by remarkable achievements and strategic milestones. Strategic Increase in Trading Volume The period between the third and fourth quarters of 2023 was a watershed moment for IUX Markets. The platform reported a…

January 30, 2024 BY PureContent

IC Markets Introduces Zero Brokerage Fee Promotion for IC Shares

Australian investors are set to benefit from the zero-fee offer from IC Markets when investing in companies of their choice. However, this exclusive offer is time-limited, and terms and conditions are attached. To ensure investors have a user-friendly and secure experience, IC Markets has partnered with Finclear. Founded in 2007, IC Markets is known for…