Despite being a global top 10 most expensive stock on the S&P 500, TSLA sunk 1.6% lower in the US premarket trading this morning in New York after falling 8.4% yesterday afternoon. It broke its 11-day upward streak after announcing the postponement of its robotaxi project to October to allow teams to build additional prototypes.…
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The IACPM’s Aggregate Credit Default Index for Q2 2024 is minus 44.1, compared to the minus 36.5 recorded for this year’s Q1. Som-lok Leung, the IACPM’s executive director, said: Interest rates have stayed higher for longer and borrowers are beginning to feel the pinch, alongside the difficulties posed by continuing inflation. This survey shows that…
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The strong performance of its digital brokerage and custody solutions encouraged previous investors, including Lakestar and Creandum, to fund the next stage of its expansion. lemon.markets also attracted investment from CommerzVentures and Heliad, which will support the company on a technical level. In a statement, lemon.markets CEO Max Linden said that CommerzVentures showcased a “deep…
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A day after HSBC partnered with Visa for a cross-border payment solution, the British financial services group is now working with Interactive Brokers. HSBC will use IBKR’s WorldTrader platform to allow its clients to access a single, feature-rich hub for trading. The new solution will provide customers with trading functionality worldwide. Don’t miss out the…
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According to the Australian Securities and Investments Commission (ASIC), Firstmac used a “cross-selling strategy” to market its High Livez product to 780 consumers with existing term deposits. The company allegedly sent product disclosure statements to these clients without ensuring that they met the target market determination. Don’t miss out the latest news, subscribe to LeapRate’s…
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Musk, who heads enterprises such as Tesla (TSLA) and SpaceX, acquired Twitter in October 2022 and changed the name to X. He then proceeded to fire thousands of employees in mass layoffs. Trina Thompson, the presiding US district judge in the matter, found that the Employee Retirement Income Security Act (ERISA) did not cover these…
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The app launched in the UK earlier this year with a mission to offer international payments with no transfer fees. Zing allows users to complete transactions in 200 markets, send 30+ currencies, and hold 20+ currencies with just one app and card. The real-time conversion rates also enhance the value of users’ wallets. HSBC will…
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Reuters stated that the approval still requires the go-ahead from India’s finance ministry. If given, it will enable one of the fintech’s main segments, Paytm Payment Services, to restore normal operations. This nucleus made up a quarter of the company’s consolidated revenue in its previous financial year. Indian regulators reined in the company’s Paytm Payments…
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The company’s statement detailed how low fuel revenues coupled with increased maintenance costs will negatively affect its Q2 2024 financial performance. According to a Bloomberg report, BP is planning to downscale its refinery operations in Germany because of high expenses and a drop in demand for conventional fuel. The Telegraph reported that BP’s reduction of…
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The HKMA investigated alleged control failures at DBS Bank between April 2012 and April 2019. The financial watchdog conducted an investigation under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615 of the Laws of Hong Kong). The HKMA identified control discrepancies such as the inconsistent monitoring of business relationships, lapses in evaluating high-risk events,…
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