Category: Market News

February 20, 2024 BY Elizabeth Anderson

Hopes of an economic ‘soft landing’ evaporating

This higher-than-expected rise in inflation and the concurrent drop of sales during January 2024 showed no improvement in inflation or consumer strength. According to Yahoo Finance, Austan Goolsbee, the Chicago Federal Reserve president, advocated against unnecessary scepticism and said that one month’s CPI report will likely not rock the cradle and that inflation is clearly…

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February 20, 2024 BY Elizabeth Anderson

Apple faces €500m fine over Spotify access

Apple also allegedly blocked firms such as Spotify from informing customers that they can get the service cheaper if they subscribe directly via the website. Apple faces a €500m fine should the EU find it guilty of infringing competition laws. The Guardian reported that Apple finds these fees reasonable as it provides apps with a…

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February 20, 2024 BY PureContent

Weekly data: Gold and GBPUSD. What's the short-term outlook?

The most important economic data for this week: Tuesday: RBA meeting minutes at 12:30 AM GMT are anticipated by the market participants to give a glimpse of the short-term action plan of the Reserve Bank of Australia. More dovish commenting might be seen as a weakness of the Aussie Dollar, creating some minor push on…

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February 19, 2024 BY PureContent

Tickmill Secures the Top Spot for its Commissions & Fees at the ForexBrokers.com 2024 Annual Awards

Tickmill has dominated this category for the fourth consecutive year, further solidifying its position in this highly competitive field. ForexBrokers.com is renowned for its impartial and in-depth analyses of forex brokers, and its annual awards are distributed based on independent research. Compared to some of the most reputable brokers in the industry, Tickmill stood out…

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February 19, 2024 BY PureContent

Binance to face five-year monitoring amid money laundering violations

The DoJ had gathered evidence of Binance violating US anti-money laundering laws between US users and customers in countries such as Russia, Cuba, and Syria . Binance's CEO, Changpeng (CZ) Zhao, was specifically targeted for knowingly violating US regulatory requirements, resulting in his resignation from the exchange. Moreover, Changpeng paid a $150m fine and is awaiting…

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February 19, 2024 BY Elizabeth Anderson

Tender-type agreement boosts OpenAI value to $80bn

In terms of the agreement, OpenAI employees could cash out their shares. By doing this, the company can raise funds without following traditional funding routes. To date, OpenAI has yet to give a response. The company did the same in 2023 when Thrive Capital, Sequoia Capital, Andreessen Horowitz and K2 Global bought OpenAI shares through…

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February 19, 2024 BY Elizabeth Anderson

Investors suing law firm for its part in FTX fraud scandal

The law firm consented to assisting FTX and disgraced founder Sam Bankman-Fried with several legal matters for more than a year before the cryptocurrency exchange collapsed. The Moskowitz Law Firm launched the legal complaint on Friday, 16 February 2024. This is the same firm that acted on behalf of former investors against celebrities such as…

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February 16, 2024 BY PureContent

Is there a crisis brewing in the US real estate market?

A similar case involved New York Community Bancorp (NYCB). The company reported a loan loss provision that was 10 times higher than analysts were anticipating. The loss was $552m, and it led to shares plunging by 60%.   Don’t miss out the latest news, subscribe to LeapRate’s newsletter  The main reason for these cases is…

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