Category: News

Davos World Economic Form
January 19, 2024 BY Elizabeth Anderson

Global markets wait for ECB statement regarding rate cuts

Despite the positive survey from over 60 global chief economists, investors and industry experts are reconsidering when the cuts will come largely because the major global economies have failed to get inflation consistently under its 2% target. Last week, markets predicted a 75% chance of US rate cuts in March of this year. This week,…

Read more
January 19, 2024 BY Elizabeth Anderson

Reddit paving the way for its IPO

In going public, this social media platform will join listed competitors such as Meta Platforms Inc (META), Pinterest Inc (PINS), Spotify Technology SA (SPOT), and Snap Inc (SNAP). Reddit has reportedly considered launching its IPO for the past three years. Should this listing be realised, it would be the first since 2019, when Pinterest stepped…

Read more
January 19, 2024 BY Elizabeth Anderson

Elon Musk publicly vying for more control over Tesla

These developments follow hot on the heels of research predicting that the growth in the electric vehicle (EV) industry will fall to roughly 27% in 2024. At the start of this year, Canalys, a global technology market analyst firm, stated that a reduction in government subsidies would spill over to consumer interest in EVs. In…

Read more
January 18, 2024 BY Elizabeth Anderson

Apple drops smartwatch feature over court battle

Without this feature, the models are due to go on sale on Thursday morning at 14:00 GMT. The technology giant announced on Wednesday after the US Court of Appeals for the Federal Circuit ruled in favour of medical technology company Masimo. According to a Reuters report, the US International Trade Commission (ITC) backed Masimo’s claim…

Read more
Sales chart
January 18, 2024 BY Elizabeth Anderson

US retail sales for December 2023 higher than expected

The December increase bettered November retail sales by 0.3%, confirming the resilience of American shoppers while bolstering the economy. The numbers also allay fears of stinted economic growth, starting the new year on a positive financial footing. Out of the 13 categories monitored, nine experienced sales increases compared to November 2023. Clothing, fashion accessories, and…

Read more
Interactive Brokers
January 17, 2024 BY Simon Mugo

Interactive Brokers Q4 2023 Revenues Surge on Options Volume

The company earned $816 million before tax, with an adjusted income of $831 million. This is a substantial increase from the $689 million income before tax (adjusted to $671 million) reported in the corresponding quarter of the previous year. Diluted earnings per share were reported at $1.48, with an adjusted value of $1.52, showing a…

Read more
January 17, 2024 BY Elizabeth Anderson

Weekly data: focus on inflation

There was no significant activity among major central banks last week, but expectations of a single cut by the Federal Reserve (‘the Fed’) at the end of this quarter remain high. According to CME FedWatch Tool, around 55% of participants expect five cuts to the funds rate between 20 March and 18 September, which would…

Read more