Reported 27 days ago
The volatility in the Norwegian krone surged to its highest level since November as traders reduced their expectations for an interest rate cut by Norges Bank. This change was driven by unexpected inflation data and a corporate sentiment survey suggesting steady growth, leading to a current 30% probability of a rate reduction. The krone has seen significant gains against the euro and dollar, marking its longest winning streak since July 2023.
Source: YAHOO
Reported 27 days ago
Source: WSJ
Reported 27 days ago
Source: BARRONS
Reported 27 days ago
A study from UC Berkeley suggests that improving the efficiency of air-conditioning units could significantly mitigate summer power cuts in India, projecting savings of 60 gigawatts in peak electricity demand by 2035, thus avoiding massive investments in new energy infrastructure. As urbanization and rising temperatures drive a surge in cooling demand, the report urges policy changes to enhance AC efficiency standards to prevent increased pressure on the energy grid and ensure reliable electricity supply during peak summer months.
Source: YAHOO
Reported 27 days ago
Allianz Global Investors, part of the Allianz SE group, is cutting some roles to adjust its organizational structure, aiming to future-proof operations and enhance growth in a competitive market. A spokesperson indicated that certain tasks may become redundant, but the exact number of job cuts has not been disclosed. AGI has faced challenges in scaling compared to its more dominant counterpart, Pacific Investment Management Co.
Source: YAHOO
Reported 27 days ago
Senator Elizabeth Warren has queried Commerce Secretary Howard Lutnick on how the Trump administration intends to prevent companies from exploiting tariffs to unjustifiably raise prices. In a recent letter, Warren expressed concern over the chaotic application of tariffs and cited Federal Reserve Chair Jerome Powell's warning that Trump’s trade policies could lead to price increases across various goods, even those without new tariff implications.
Source: YAHOO
Reported 27 days ago
Source: WSJ
Reported 27 days ago
A €1 investment in the struggling Austrian engine maker Steyr Motors has turned into one of Europe's hottest stocks, soaring over 1,600% amidst a defense stock boom triggered by increased military spending. Mutares SE, the private equity firm that purchased Steyr in 2022, has seen its shares double as the company prepares for a significant rise in profits and sales in 2025. Although both stocks have recently moderated, the heightened interest in defense-related investments continues to drive strong market performance.
Source: YAHOO
Reported 27 days ago
Source: WSJ
Reported 27 days ago
Source: WSJ
Reported 27 days ago
A conservation organization, Oceana UK, is contesting the legality of 31 oil and gas exploration licenses granted by the UK government, arguing they threaten marine protected areas and climate stability. The group claims the previous administration's approvals did not adequately consider the potential environmental impacts, including oil spills. Although the current Labour government has prioritized clean energy, it has not revoked existing licenses. The case follows a recent British court ruling that forced other oil projects to reapply for environmental permits.
Source: YAHOO
Reported 27 days ago
Source: WSJ
Reported 27 days ago
Source: BARRONS
Reported 27 days ago
Since taking charge of Switzerland's financial regulator, Stefan Walter, dubbed 'The Sheriff,' has made significant changes to how the watchdog interacts with banks. He has initiated investigations into multiple financial institutions, including UBS, advocating for stricter capital requirements in the wake of the Credit Suisse crisis. His assertive approach is in stark contrast to the softer regulatory environment of the past, aiming to restore confidence in Switzerland's banking sector while reshaping the relationship between regulators and banks.
Source: YAHOO
Reported 27 days ago
23andMe's recent bankruptcy filing raises significant concerns about the fate of its valuable asset: genetic data from 15 million customers. As legal experts note, the unclear laws surrounding data ownership and customer rights complicate matters. Many states, like California, grant consumers the right to delete their biometric data, but the company's financial distress may prompt management to retain this data to preserve asset value, leading to anxiety among customers about the control and safety of their information.
Source: YAHOO
Reported 27 days ago
Spain's economic growth at the end of last year was buoyed by a 1% increase in household consumption, allowing it to surpass its euro-zone counterparts, which only saw a 0.2% GDP rise. Government spending also contributed, albeit modestly, and the country's performance is underpinned by tourism and domestic demand, despite challenges from global uncertainties and a fragmented parliament.
Source: YAHOO
Reported 27 days ago
UK inflation unexpectedly fell to 2.8% in February, providing a boost to Chancellor Rachel Reeves as she prepares to announce over £10 billion in spending cuts. This decrease, driven primarily by a drop in clothing prices, comes amid concerns about economic growth and rising living costs. While core inflation also decreased to 3.5%, experts warn that household bills are set to rise significantly in April. Consequently, the Bank of England may pause interest rate cuts as inflation pressures loom.
Source: YAHOO
Reported 27 days ago
In the face of unprecedented cocoa market disruptions, particularly due to severe weather impacts in key growing regions like Ivory Coast and Ghana, traditional pod counters such as Eddie Arthur have seen their roles gain renewed significance. These experts meticulously count cocoa pods on farms to provide data that informs traders, hedge funds, and chocolatiers about potential harvests in an industry often plagued by opaque supply data. As climate-related challenges escalate, the insights from these hands-on assessments become increasingly vital for understanding and predicting cocoa supply dynamics.
Source: YAHOO
Reported 27 days ago
Anthropic, an AI company, successfully convinced a federal judge to reject a request from music publishers, including Universal Music Group, to stop it from using song lyrics in training its AI chatbot, Claude. The judge deemed the publishers' claims too broad and insufficiently demonstrated irreparable harm. The lawsuit is part of a broader context concerning the copyright implications of using creative works in AI development.
Source: YAHOO
Reported 27 days ago
Oil prices have increased as an industry report reveals a notable decline in US crude stockpiles, with Brent oil surpassing $73 a barrel. The American Petroleum Institute reported a drop of 4.6 million barrels in US inventories, which would mark the largest decrease since November if confirmed by official data. The potential Russia-Ukraine ceasefire also influences market dynamics, while tariffs and sanctions from the US continue to create volatility in the oil market.
Source: YAHOO
Reported 27 days ago
Prime Minister Narendra Modi is seeking assistance from Indian households to address a substantial $346 billion debt mountain, primarily stemming from pandemic-era borrowing and extensive infrastructure spending. The strategy involves swapping maturing sovereign bonds with longer-dated notes, with households increasingly investing in insurance companies that are purchasing these bonds. As the finance ministry sets ambitious debt swap targets and with the insurance sector projected to grow rapidly, this shift in the market is promising for India's public finance management.
Source: YAHOO
Reported 27 days ago
U.S. tariffs on copper imports may be implemented within weeks, earlier than expected, as President Trump prepares to move swiftly following a Commerce Department investigation. Analysts suggest a significant 25% tariff could impact global copper markets, with prices already fluctuating in anticipation of the changes.
Source: YAHOO