The markets are eager to see the November core personal consumption expenditure (PCE) price index report, due early this afternoon, which will disclose the Fed’s take on underlying inflation. Having said that, Fed officials deflected the notion of quickfire rate cuts in Q1 2024, but this does not seem to have deterred the market outlook.…
Read more
This recall affects 2020 to 2022 hybrid models such as the Avalon, Camry, Corolla, RAV4, Lexus ES250, ES300H, ES350, RX350 Highlander, and Sienna versions. One million of these are in the US alone. Reportedly, the sensor fails to deploy the airbag if a child or small adult sits in the front seat. According to Sky…
Read more
In April 2022, WarnerMedia completed its $43bn merger with Discovery, securing better tax advantages and creative licensing. As a result, Warner Bros CEO David Zaslav will face heavy tax implications if he chooses to engage in any merger before April 2024 (two years after the original merger). While a potential merger between the two studios…
Read more
This is the third loan payout under Zambia’s $1.3bn extended credit facility, which the IMF approved in August 2022. The African country backslid on its debt approximately three years ago when the pandemic ruined its restructuring plans. Reportedly, the country hit a major roadblock with its creditors in November. The lenders questioned the comparable debt…
Read more
British inflation data released on Tuesday, 19 December, also showed a considerable decrease in November inflation, registering its lowest rate in two years. As a result, investors and analysts are predicting a string of further interest rate cuts from the Bank of England (BoE) in H1 of 2024. Investor consensus calculates nearly a 50% chance…
Read more
In response, the company’s shares plunged by 9.8% in line with the US Postal Service's decrease in demand. During after-hours trading on Tuesday, the FedEx shares dropped as low as $252.58 after closing the day on $280. According to a Reuters report, these movements also affected competitor United Parcel Service (UPS.N), which experienced a 2.9%…
Read more
Looney resigned with immediate effect on 12 September after informing the company he was not completely honest and forthcoming regarding his personal relationships with co-workers. Following an investigation, the British oil giant dismissed Looney on 13 December without notice. Last week, BP announced it withheld approximately $40m in remuneration following the prompt dismissal. Now that…
Read more
With 650bn yuan worth of MLF loans set to expire in December, the operation resulted in a net injection of 800bn yuan into the banking system, marking the most substantial monthly increase on record. The positive momentum extended beyond financial markets, with Chinese property stocks rallying due to the extension of eased home-buying restrictions to…
Read more
Traders also positioned themselves for improved demand in 2024, anticipating lower interest rates and a strengthened US economy, thus impacting global markets. The IEA supported this notion by slightly revising its oil demand forecast for 2024 this week, although it remained below the projections made by the Organization of the Petroleum Exporting Countries and Allies…
Read more
On the currency front, the pound continued to trade at around $1.27 on Friday morning. Meanwhile, the FTSE held a steady position, the DAX in Frankfurt exhibited a 0.5% increase, and the CAC in Paris rose by 0.3%. Additionally, the flash UK PMI Composite Output Index for the private sector reached a six-month high at…
Read more