Tang (55 y/o), who passed away on Friday 15 December from an undisclosed illness, was previously the company’s dominant class A shareholder and in charge of the company’s voting structure. SenseTime will now need to regroup and navigate this sudden challenge while mourning the loss of their voting leadership. Don’t miss out on the latest news,…
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In a unanimous decision, the central bank opted to keep interest rates at -0.1% while adhering to its yield curve policy, referencing the 1% upper limit for 10-year Japanese government bonds. It reaffirmed its view that the economic uncertainty is “extremely high,” and it is committed to taking "additional easing steps if necessary.” Don’t miss…
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On Sunday, 17th December, industry experts noted that while the firm has grown rapidly in 2023, keeping momentum throughout 2024 will be noticeably harder, with investors predicting only a 9% upside on average for next year. Portfolio manager at Antipodes Partners, Nick Cameron, noted 2024 investor predictions: [Novo is] an excellent R&D company, and they’re…
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The transaction is contingent on customary closing conditions and regulatory approvals, with completion expected in Q2 2024. This strategic move aligns with IBM's ongoing efforts to enhance its technological capabilities and expand its footprint in the enterprise software domain. Rob Thomas, Senior Vice President, Software and Chief Commercial Officer, IBM, noted: Together with IBM's Watsonx.ai and…
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As a result, European shipping stocks are likely to continue trading in a volatile manner due to concerns about disruptions in Red Sea routes caused by militant attacks, potentially leading to increased freight rates. The threats near Egypt's Suez Canal may impact rates as vessels opt for alternative, longer routes. Key players such as Moller-Maersk,…
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The Preliminary HCOB Services PMI for December dropped to 48.1, a decline from November's 48.7, defying expectations of a slight rise to 49. This indicates that the activity in the Eurozone’s crucial services sector is shrinking more rapidly than it did in the previous month. Similarly, the Manufacturing PMI remained static at 44.2, contrary to…
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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…
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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…
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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…
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TMX to acquire the remaining ~78% of the common units of VettaFi for US $848m. Deal accelerates long-term growth strategy as well as financial and transformational objectives Increases proportion of revenue from recurring and global sources Adds innovative new client service team and capabilities to GSIA, TMX's fastest-growing segment TMX has announced an agreement to…
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