Forbes reported that January cuts reached an approximate 15-year high as more than 82,000 employees lost their jobs in US-based companies. The media agent attributes these movements to persistent interest rate hikes during 2023. Société Générale’s planned job cuts make up around 5% of the employees at its headquarters and less than 2% of its…
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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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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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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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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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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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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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The seven members are Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman. Officials, who wished to remain anonymous, indicated that additional limits will be considered in March. With a tempered oil price of around $80 per barrel, the surge in US shale production, and the Red Sea conflict endangering shipments, OPEC+ members find it…
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Hosur, a city in Tamil Nadu, will be home to India’s second iPhone assembly plant after Tata completes construction. The first, Taiwan’s Foxconn Chennai plant, started the commercial production of the iPhone 15 in September 2023. According to Reuters, two sources close to the matter indicated that Tata and Pegatron are considering a joint venture…
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Osborne, who served as Chancellor for six years until 2016, will join CoinBase’s advisory council. In a statement, the 52-year-old announced he was excited about the “huge amount” of innovation that is present in the financial industry. He will now use his experience in a range of sectors and disciplines – these include business and…
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