Global Finance indicated that China “reduced its holding by more than $100bn in the year through to March 2023”. Global Finance stated that Belgium, which is reportedly a “proxy custodian for China’s debt holdings”, sold over $20bn of US Treasuries during this period. Although many regard this as a directed effort on China’s part, other…
Read more
Bresler replaces the segment’s interim CEO, Simon Camilleri. In Saxo’s press release, the firm emphasised that Bresler’s extensive experience in the financial sector earned him this top position. Previously, he was a core member of the company’s APAC leadership team and also acted as the sales trading deputy head in Singapore between 2016 and 2018.…
Read more
The bank predicts a bullish medium-term greenback performance in tandem with high yields, a significant growth barrier and other relevant aspects. Investing.com indicated that this firm did, however, mention that “tactical concerns stem from nascent signs of fading US growth exceptionalism and saturated investor longs”. JPMorgan also stated: Inflation divergences will be key as central…
Read more
The footwear and sportswear retail giant is working on a strategic plan called the Lace Up Plan that brings together different stands of its business, such as the digital side and the in-store experience, as well as its loyalty incentives and brand building. Mary Dillon, Foot Locker’s CEO, said that the firm’s Q1 results represented…
Read more
The firm’s adjusted earnings per share of $0.82 and net revenue of $12.8bn were both higher than expected. This led to HPQ amending its predicted full-year adjusted earnings per share to a range that covers from $3.30 up to $3.60. These results haven’t affected the forecast for its free cash flow forecast, as the estimate…
Read more
The updated estimation reportedly follows China’s efforts to brace its economy after the property market debacle. In its press statement, the IMF said: First, we project China’s economy to grow by 5 percent in 2024 and 4.5 percent in 2025. These reflect upward revisions of 0.4 percentage points for both the years compared to the…
Read more
Spot gold reportedly edged closer to the $2,500 per ounce mark on Monday, 27 May 2024, when it traded at $2,449.89 at one stage. During trading on Tuesday, 28 May 2024, gold slipped slightly and opened the day at $2,338 per ounce. The precious metal is, however, sustaining its upward push despite a weaker dollar…
Read more
This record-breaking move came following the chipmaker’s impressive Q1 results. Adjusted earnings shot up by 461% on a year-on-year basis and the company’s revenue climbed by 262%. A 10-for-1 share split was announced, while the NVDA cash dividend was also increased. CEO Jensen Huang confirmed that he expects the demand for generative AI training to…
Read more
Binance has a controlling stake in the crypto exchange. According to Cointelegraph, the Korea Economic Daily reported that Gopax “owes a total of 70 billion South Korean won ($51.4 million) to its users stemming from exposure to failed institutional crypto lending firm Genesis Global”. Despite Genesis’s downfall in November 2022, the affiliated unpaid digital assets…
Read more
Based on CNBC information, the leader of the Bank of Finland and council member of the ECB, Olli Rehn, said that Euro bloc inflation is decreasing steadily. Data reflected an April 2024 inflation rate of 2.4%. This means that it has been below 3% for seven months straight. Don’t miss out the latest news, subscribe…
Read more