Fitch Ratings agency has adjusted its forecast for a rate cut in China, pushing back its expectations to next year instead of this year. The decision comes as a result of high interest rates set by the U.S. Federal Reserve, which has influenced China’s monetary policy. Concerns over the exchange rate against the U.S. dollar
European stock markets experienced a slight decline on Wednesday, despite U.K. inflation falling back to the Bank of England’s target, while being overshadowed by a U.S. holiday. The DAX index in Germany, the CAC 40 in France, and the FTSE 100 in the U.K. all saw a decrease in value. These market movements were influenced
Japan’s recent data on exports in May reveals a concerning trend – while the weak yen has contributed to a significant increase in the value of exports, the volume of sales has been decreasing for the fourth straight month. This paints a picture of global demand that is still relatively soft, posing challenges for the
Imax and Wanda Film, China’s largest exhibitor, have recently announced a significant expansion of their strategic partnership, focusing on technology and content. This partnership aims to enhance the movie-watching experience for viewers in China. The agreement includes Wanda Film upgrading 61 of its top-performing locations to state-of-the-art Imax with Laser technology in key cities such
At the midway point of the year, optimism is soaring on Wall Street. According to the recent global fund manager survey from Bank of America Securities, investors are exuding the most bullish sentiment since November 2021. Not only are they not anticipating a recession, they are also showing a strong preference for equities, especially the
The European Central Bank is expected to cut its deposit rate twice more this year, in September and December, according to a significant majority of economists. These predictions come despite the improving business activity and strong wage data, which have raised uncertainties around the rationale for more cuts. The risks, however, are skewed towards fewer
Senator Elizabeth Warren has accused Federal Reserve Chair Jerome Powell of favoring the financial industry over the interests of the American public. This accusation comes after reports surfaced that Powell may be advocating for changes to regulations that would reduce the capital cushion large American banks are required to hold under the Basel III Endgame
Warren Buffett’s Berkshire Hathaway has been steadily increasing its stake in Occidental Petroleum over the past nine trading sessions. This influx of shares has propelled Buffett’s ownership in the Houston-based oil and gas producer to nearly 29%, indicating a strong vote of confidence in the company’s future prospects. Through daily purchases from June 5 to
European stock markets showed resilience as they rose despite ongoing political turmoil in the region. The DAX index in Germany traded 0.6% higher, the CAC 40 in France rose 0.6%, and the FTSE 100 in the U.K. climbed 0.5%. This positive trend comes after a turbulent period that saw right-wing parties making gains in the
Apple has been under scrutiny by the European Commission due to a number of “very serious” issues related to the Digital Markets Act (DMA) that aims to regulate Big Tech companies. The EU’s competition chief, Margrethe Vestager, highlighted that the investigation into Apple, along with Alphabet and Meta, raised concerns about anti-competitive behavior. One of
The Food and Drug Administration recently approved Merck’s new vaccine, Capvaxive, which is specifically designed to protect adults from pneumococcus, a bacteria that can lead to serious illnesses such as pneumonia. This approval marks a significant milestone in providing broader protection against pneumococcal disease, particularly for older patients and those with chronic health conditions who
Nvidia, the chip giant, is on a meteoric rise, forcing major technology exchange-traded funds to make significant adjustments to their portfolios. The Technology Select Sector SPDR Fund (XLK) will need to acquire over $10 billion worth of Nvidia shares while cutting back on Apple. According to Matthew Bartolini, head of SPDR Americas Research, the rebalance
Recently, China has initiated an anti-dumping investigation on imported pork and its by-products from the European Union. This move is seen as a response to the EU’s restrictions on Chinese electric vehicle exports. The investigation, announced by China’s commerce ministry, is expected to have significant implications for European pork producers, particularly those in Spain, the
One of the leading companies making efforts to reduce the West’s reliance on Chinese rare earths is Lynas Rare Earths. Lynas is currently the largest supplier of rare earth compounds outside of China, operating primarily in Australia. The company has processing operations in both Australia and Malaysia, with plans to open a heavy rare earth