Category: Market News

February 07, 2024 BY Elizabeth Anderson

Cisco launches first-of-its-kind AI defence against identity cyber-attacks

The company pointed out the gaps between virtual authentication and access processes. According to its 2023 data, 26% of all Cisco Talos Incident Response incidents comprised fraudulent logins to gain access to authentic accounts. Due to the connection between accounts used on different platforms, Cisco said that cybercriminals only need to compromise one digital identity…

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February 07, 2024 BY Elizabeth Anderson

Novartis broadening horizons with bolt-on MorphoSys acquisition

This per-share takeover price is significantly higher than the German manufacturer’s going market performance. At the final bell on Monday, MorphoSys’s Nasdaq shares priced at $17.27. Bloomberg claimed that this acquisition was an attempt by Vasant Narasimhan, the Novartis CEO, to prove to investors that he could drive financial and organisational growth.  After disappointing financial…

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February 06, 2024 BY Elizabeth Anderson

Chinese regulator tries to placate investors as shares spiral

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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February 06, 2024 BY PureContent

Weekly data: Oil and Gold

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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February 05, 2024 BY PureContent

FalconX Institutional digital prime broker to collaborate with TP ICAP's UK-based crypto exchange

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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February 05, 2024 BY Elizabeth Anderson

Drumroll signals a chunk out of Musk’s Tesla pay

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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February 05, 2024 BY Elizabeth Anderson

Three out of seven a win – Amazon, Apple and Meta topping forecasts

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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February 02, 2024 BY PureContent

Nuvei Corporation partners with Cash App in US

Nuvei CEO Philip Fayer said that the firm decided to expand its offerings in the US after recognising the rapid adoption of Cash App Pay, which is particularly popular with young adults. Nuvei’s mission is to break down payment barriers and empower its partners to deliver feature-rich and relevant customer checkout experiences. Nuvei already serves…

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