As China’s highly anticipated “Third Plenum” gets underway, there are dire predictions regarding the constraining of the financial sector, especially in light of the country’s slowing economic growth. The focus is shifting towards reinforced support for high-tech and manufacturing, areas that are expected to see continued success in the coming years. It is believed that
Development
In a surprising turn of events, Elon Musk, the CEO of Tesla, publicly endorsed Donald Trump for the upcoming U.S. presidential race. This marks a significant shift in Musk’s political stance, as he has previously voiced his support for Democratic candidates, including Hillary Clinton and Joe Biden. Musk’s endorsement of Trump has raised eyebrows among
Argentina’s central bank recently announced a new strategy to sell U.S. dollars in the country’s parallel foreign exchange markets in an attempt to combat inflation and stabilize the country’s money supply. This decision marks a significant shift in the country’s monetary policy and has sparked discussions about its potential impact on the economy. Economy Minister
The landscape of the electric vehicle (EV) market is constantly evolving, with new players entering the scene and existing ones striving to maintain their competitive edge. South Korean EV battery maker SK On, a unit of energy group SK Innovation, is facing challenges amid slowing global EV demand. In an effort to adapt to the
The prospect of impending U.S. interest rate cuts is causing a stir among investors, who now find themselves at a crossroads. The dilemma they face is whether to maintain their allegiance to the stalwart Big Tech stocks that have been the backbone of market returns for an extended period, or to pivot towards lesser-loved sectors
In the midst of the chaos caused by the collapse of fintech intermediary Synapse, there seems to be a ray of hope for the many Americans who have had their savings locked in frozen accounts for the past two months. Banks involved in the situation have reportedly made significant progress in piecing together account information
China has been making significant progress in the development and deployment of robotaxis in recent years. Local Chinese governments, from Beijing to Guangzhou, have been allowing domestic players to operate robotaxi rides for the public. This has led to a surge in the popularity of robotaxis, with videos about fully autonomous driving taxi experiences becoming
Following England’s dramatic victory in the European Championship semi-final, the City is likely to be buzzing with excitement. However, the euphoria from Ollie Watkins’ stoppage-time strike sending England into the final against Spain has not overshadowed the ongoing challenges in the financial markets. While celebrations are in order, investors must remain vigilant as the battle
Elon Musk’s brain tech startup, Neuralink, has been making waves in the field of brain-computer interfaces (BCIs). Recently, Musk announced that the company hopes to implant its system in a second human patient within the next week. However, after encountering hardware problems with their first participant, the company is striving to make necessary changes to
Intuit, the parent company of TurboTax, recently faced a setback in midday trading as its shares fell by nearly 4%. This decline was a result of the company’s decision to cut 1,800 jobs, representing about 10% of its workforce. The move came as Intuit seeks to increase investments in artificial intelligence. However, it also announced
Nvidia has been making waves in the stock market, with its shares seeing a 1.8% increase following KeyBanc’s optimistic price target hike to $180. This move implies a significant 40% upside from Monday’s close. The firm’s positive outlook is based on the strong demand for Nvidia’s H100 chip, which has remained robust despite the impending
China’s new yuan loans are expected to more than double in June compared to May, as per a Reuters poll. Chinese banks are predicted to have issued 2.25 trillion yuan in new loans last month, up from 950 billion yuan in May. This surge is attributed to the central bank’s continuous policy support for the
Australia’s commitment to boosting investment in Pacific Island countries in support of their financial systems comes at a crucial time. The banking sector in the region is experiencing a significant withdrawal of correspondent banking services, particularly in U.S. dollar-denominated transactions. This has raised concerns about the ability of Pacific nations to engage with the global
Recent reports indicate that Germany’s government has been actively selling significant amounts of bitcoin, resulting in a notable sell-off in the cryptocurrency market. The German Federal Criminal Police Office, commonly known as the Bundeskriminalamt (BKA), initiated the sale by disposing of 900 bitcoins in June and followed it up with the sale of an additional