Category: News

March 27, 2024 BY PureContent

FP Markets Named Best in Class for Commissions & Fees, Algo Trading and MetaTrader

The Best-In-Class status for excellence was awarded to FP Markets in multiple prestigious categories at the Forexbrokers.com 2024 Awards on 23 January, marking an impressive series of consecutive accolades: Commissions and Fees (4th consecutive year) MetaTrader (4th consecutive year) Algo Trading (3rd consecutive year) The Best-In-Class awards highlight and further cement FP Markets' position as…

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Oil driller and gold coins
March 27, 2024 BY PureContent

Weekly Data: Oil and Gold: Price Review for the Week Ahead

The most important economic data for this week are: Thursday: US quarterly GDP growth rate on Thursday at 12:30pm GMT. Market participants are expecting the figure to come out at 3.2%, down from 4.9% in the previous quarter. This data might have already been priced in as it’s for the previous quarter, though any significant…

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Visa and Mastercard
March 26, 2024 BY Simon Mugo

Visa and Mastercard Reached a Settlement With Retailers To Save $30Bn

Pending judicial approval, this agreement aims to settle allegations from legal action initiated in 2005. For years, retailers have voiced grievances against Visa and Mastercard, alleging that the credit card giants imposed excessive charges on interchange fees, also known as swipe fees, whenever consumers made purchases using credit or debit cards. Furthermore, the retailers contended…

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Central Bank of Brazil
March 26, 2024 BY Simon Mugo

Brazil’s Central Bank Considers Smaller Rate Cuts After Latest Cut

During its meeting on March 19-20, which saw the benchmark interest rate trimmed by 50 basis points to 10.75%, the central bank highlighted the crucial role of updated data in determining the final interest rate and its trajectory. The minutes revealed, "Particular emphasis was placed on the importance of fresh data in guiding the final…

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European commission ruling
March 26, 2024 BY Elizabeth Anderson

Google, Apple, and Meta First ‘Gatekeepers’ Under the DMA Scope

The five investigations concern potential breaches by Alphabet Inc’s (GOOG), which owns Google, Apple Inc. (AAPL), and Meta Platforms, Inc. (META). Instigating these probes only two weeks after the DMA’s deadline shows the European Union (EU) is taking the legislation and gatekeeper compliance seriously. The law came into effect on 7 March 2024. It requires…

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Medical globe
March 26, 2024 BY Elizabeth Anderson

Ingersoll Rand to Take Over ILC Dover

The latter is an investment company managing an estimated $50bn in assets. ILC Dover specialises in the design and manufacture of biopharmaceutical and medical devices and also provides aerospace solutions. The organisation has 11 engineering and production facilities in Asia, North America and Europe. In terms of the agreement, Ingersoll Rand will pay approximately $2.3bn…

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Row of houses
March 26, 2024 BY Robert Bell

Ageas Abandons Direct Line Takeover

The Belgian company confirmed that it won’t be making any more bids for Direct Line. This announcement came on Friday and followed two previous bids being turned down by Direct Line. The second of those bids, which valued each share at 239p ($4.62 AUD) and was worth £3.17bn ($6.13bn AUD), was rejected by the British…

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NatWest branch1
March 25, 2024 BY Simon Mugo

The UK Government Is No Longer the Leading NatWest Shareholder

For years, the fate of NatWest has been closely intertwined with governmental strategies aimed at stabilising the UK's financial system during tumultuous times. The recent announcement by the finance ministry highlights a deliberate and ongoing effort to transition the bank back into full private ownership. This process has been meticulously managed by gradually selling the…

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China's Country Garden developments
March 25, 2024 BY Simon Mugo

Chinese Government Is Pushing Banks To Lend to Private Developers

Despite Beijing's efforts to rejuvenate the industry through a "whitelist" approach designed to alleviate the sector's liquidity challenges, major domestic banks have remained cautious, limiting their credit extension to the beleaguered industry, vital for the nation's economic health. Since 2021, the real estate market in China, the world's second-largest economy, has faced successive challenges triggered…

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March 25, 2024 BY Robert Bell

Apple Loses Value Over Regulator Fears

This took the loss in the year so far to 11%. Apple is no longer the world’s most valuable company, with Microsoft (MSFT) now having a market capitalisation of over $3tn, while Apple has slipped under that figure to around $2.65tn. Part of the reason for the recent fall is that nervousness has set in…

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