The SEC determined that an unauthorised party had transferred a SEC mobile phone number linked to the X account in question onto another device. This act, although not an uncommon cyber theft act, left the market questioning the SEC’s security. After the post, bitcoin’s market price decreased from approximately $48,000 to $45,5000, a fall of…
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Established in 2005, FP Markets has held the title for Best Global Forex Value Broker for five consecutive years and provides over 10,000 tradable instruments across key asset classes to users worldwide. It works to aggregate pricing across top-tier liquidity providers and offers various Account Types to suit all levels of trading. The partnership works…
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The most important economic data for this week are: Tuesday: BoJ Interest rate decision at 03:00 AM GMT. The market consensus is that the rates will remain static at -0.1%, while in the unlikely scenario any shift away from this figure will most certainly create volatility in the yen pairs. Japanese Balance of trade at…
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The organisation’s shares plummeted 24% after news hit the airwaves that CFO, Vikram Luthar, was placed on administrative leave as the firm investigates alleged accounting malpractices in its Nutrition division. Reportedly, after a US Securities and Exchange Commission (SEC) voluntary document request, ADM sliced its 2023 profit predictions and announced the delay of the publication…
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Under Basel III, an international regulatory reform created by the Basel Committee on Banking Supervision, stricter regulations are now finalised to bolster the regulation, supervision, and risk management of banks to avoid a repeat of the 2007 to 2009 global financial crisis. US banks have, however, been contesting these rules for months, claiming they will…
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Following market instability, the Hang Seng China Enterprises Index (HSCEI) plummeted 2.4%, a stone’s throw away from its lowest level in 20 years. The CSI 300 index also fell 1.6% at market opening. Across the water, however, Wall Street’s S&P 500 index hit a 2-year record high to close last week’s market. Don’t miss out…
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Coupled with the previous week’s net $11.5bn outflow, this signifies a large disposal between 10 and 17 January. Financial analysts chalk this up to the positive sales report for December 2023 and the Federal Reserve’s negative response to anticipated policy rate cuts in March 2024. Reportedly, prominent US banks’ poor fourth quarter performance, such as…
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The Kazakhstan native’s shares topped the IPO price with 0.5%, giving the banking and fintech leader a value of $17.51bn. On the London Stock Exchange (LSE), where the company already trades, it has a value of over $19bn. On Thursday, 18 January 2024, a day before the company went public, investors increased their offering to…
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The ruling by U.S. District Judge William Young, which occurred on Tuesday, halted Spirit's proposed $3.8 billion sale to JetBlue. The decision, aligning with antitrust regulators' concerns, suggested that the merger could increase consumer airfares. Following this ruling, Spirit's stock value plummeted over 60%. Additionally, the financial stability of Spirit Airlines is under scrutiny, evidenced…
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As a consequence of rising interest rates, higher asset return requirements have also become a drag on the global economy. In 2024, we are in for an election year of heightened geopolitical tensions in the US and worldwide. In addition, the likelihood of the Fed guiding the US economy to a safe landing with interest…
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