The move adds to Apple’s challenges as it directly impacts its biggest non-U.S. market. The Chinese market makes up a sizeable chunk – about 19% – of Apple’s total revenue. Although drastic, it seems, according to an anonymous CNN source, that China has been implementing this policy non-officially since the Covid-19 pandemic and is now…
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Miners and technology stocks drew the shortest end of the stick, while utilities and healthcare subindexes regained some ground. Tech stocks did not escape the trend and took some amount of strain. Experts attributed this to China’s intention to broaden its ban on the use of iPhones, as government sectors and affiliates distance themselves from…
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Heroux-Devtek, the world’s third-largest standing gear company, is set to begin supplying IperionX, a sustainable titanium production company, with Ti-6AI-4V grade alloy scrap metal, which IperionX plan to transform into low-carbon titanium suitable for future technologies. The alloy is already a byproduct of Heroux-Devtek’s gear manufacturing process, so to create a sustainable chain, this is…
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The regulator received a volley of attacks because it did not act soon or effectively enough to stem the tide of wrongdoings at the world-renowned Swiss bank. This includes connections with Lex Greensill, which led to an approximate $1.8bn loss. Many believe FINMA’s communication with big financial institutions was lacking and that it was negligent…
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As smaller businesses complained about being trampled in virtual space by the big names in tech, the DMA aims to level the playing ground to an extent. For instance, the Google and Apple operating systems are the top drivers in the mobile industry and charge a 30% fee for in-app purchases, which companies such as…
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The Bank of England (BoE) governor, Andrew Bailey, is due to appear in front of the Treasury Committee to address claims by a think-tank that his economic outlook for 2023 is failing. The Resolution Foundation, an independent British think-tank that aims to bolster low-middle-class income households in the UK, suggested that continued tax hikes for…
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A recent targeted review, which examined the DDO practices of sample financial issuers, found most retail clients lost money when trading CFDs. The ASIC deputy chair, Karen Chester, said: ASIC is disappointed that some high-risk retail product issuers have changed little in response to their design and distribution obligations (DDO). DDO requires companies to design…
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Friday marked a seven-week consecutive rise for the dollar index in comparison with its figures of 99.58 from the same period year-over-year. Industry experts suggest that this favourable standing is set to last, at least for the short-term. Friday also brought about data showing the slowdown of U.S. employment and wage growth which was greater…
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To analyze global trading patterns, the experts at FOREX.com conducted a large-scale survey with 3,000 experienced traders, and uncovered the most popular and opportune times for executing trades. Survey Key Findings: The first hour of the trading day is the most favoured time to execute trades globally, across all asset classes, according to the survey…
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A Binance spokesperson confirmed the report to Reuters. Among others, the company also had to bid farewell to its Chief Strategy Officer, Patrick Hillmann, and General Counsel, Hon Ng, during this year. These resignations raise industry eyebrows as they follow scrutiny by authorities, including the U.S. Securities and Exchange Commission (SEC) and the Australian Securities…
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