Reported 22 days ago
The dollar declined and stock markets saw minor drops on the eve of a closely contested U.S. presidential election between Kamala Harris and Donald Trump. Investors are cautious, anticipating potential Federal Reserve interest rate cuts amid conflicting polling data. While Trump may drive inflation higher, Harris is viewed as a continuity candidate. The outcome is uncertain, with concerns lingering about the tight Senate and House races, leading to fluctuations in Treasury yields and global markets.
Source: YAHOO
Reported 22 days ago
As the presidential election approaches, attention turns to the Federal Reserve, which is expected to lower interest rates for the second time this year due to easing inflation, following the election results.
Source: YAHOO
Reported 22 days ago
The Federal Reserve is preparing to lower interest rates once more, grappling with an unclear economic landscape following recent elections, as reported in AP's latest financial news.
Source: YAHOO
Reported 22 days ago
Asian shares mostly gained as China began a significant economic meeting, while U.S. stocks declined ahead of uncertain election results. The S&P 500 fell 0.3%, Dow Jones dropped 0.6%, and Nasdaq also slid. Market concerns revolve around the upcoming U.S. elections and potential economic changes, alongside the expectation of further interest rate cuts from the Federal Reserve. Oil prices rose due to production cuts from major oil producers, with analysts anticipating economic stimulus measures from China's government.
Source: YAHOO
Reported 22 days ago
Foxconn's subsidiary, Shunsin, is seeking approval for an $80 million investment in northern Vietnam to produce integrated circuits. The plant, located in Bac Giang province, aims to start operations by December 2026 with an annual capacity of 4.5 million units. All products will be exported to the US, EU, and Japan. Foxconn, the largest contract electronics manufacturer, has invested over $3.2 billion in Vietnam since the 2000s.
Source: YAHOO
Reported 22 days ago
Blackstone plans to enter at least two new European markets next year to meet the rising demand for investments from wealthy individuals. The firm, which has seen its private wealth assets grow significantly, is focused on diversifying its client base amid varying market conditions. Despite complexities in the European regulatory landscape, Blackstone aims to promote retail investment in private markets and has recently appointed a new COO for its EMEA wealth division to aid in this expansion.
Source: YAHOO
Reported 22 days ago
As investors grow skeptical about Donald Trump's chances in the upcoming U.S. presidential election, Treasury yields have decreased and the dollar has weakened. Recent polling suggests a potential lead for Democrat Kamala Harris, prompting a reevaluation of 'Trump trades' that had previously benefited from expectations of his low-tax and high-tariff policies. The shifting market sentiment has resulted in gains for the Mexican peso and a drop in Bitcoin, with bond traders adjusting their positions ahead of Election Day.
Source: YAHOO
Reported 22 days ago
The dollar experienced a decline following a surprising Iowa poll indicating that Democratic candidate Kamala Harris has surpassed Republican incumbent Donald Trump. This news resulted in the dollar dropping 0.9% against the yen and 0.6% against the euro, while the Australian dollar gained 0.8%. Analysts believe that a Harris victory would exert less upward pressure on the dollar compared to Trump’s policies. Furthermore, market expectations predict that the Federal Reserve will implement interest rate cuts this week regardless of the election outcome.
Source: YAHOO
Reported 22 days ago
Thailand has delayed the selection of a new central bank chairman due to rising opposition against the government's preferred candidate, Kittiratt Na-Ranong, who has been critical of the central bank's policies. The selection panel is taking more time to consider the appointment and has pushed its meeting to November 11. Tensions have escalated between Prime Minister Paetongtarn Shinawatra's administration and the Bank of Thailand over monetary policy and economic strategy, with a petition against government interference planned by supporters of the bank's independence.
Source: YAHOO
Reported 22 days ago
Chinese electric vehicle manufacturer Nio is set to introduce its first hybrid model, the Firefly, exclusively for overseas markets in 2026, following recommendations from its major investor. The decision aims to counter challenges posed by trade barriers and inadequate EV infrastructure in foreign markets. The hybrid vehicle will not be sold in China, where Nio will continue to focus on pure electric vehicles. With new EU tariffs impacting EV sales, Nio hopes that the hybrid model will enhance competitiveness in the European market.
Source: YAHOO
Reported 22 days ago
US tech companies have expressed concerns that Vietnam's proposed law on data protection and restrictions on data transfers could stifle the growth of social media platforms and data centers in the country. The law, aimed at enhancing governmental access to information, may create challenges for tech firms, according to industry representatives, potentially impacting foreign investment and existing operations in Vietnam's burgeoning digital market.
Source: YAHOO
Reported 22 days ago
Source: INVESTORS
Reported 22 days ago
Australian mining billionaire Chris Ellison will resign from his position as managing director of Mineral Resources Ltd. after an internal investigation uncovered his involvement in undeclared payments to companies he owned, leading to a significant market value loss for the firm. The probe revealed that Ellison received millions in payments for mining parts and utilized company resources for personal benefits. He has been fined and agreed to repay the undisclosed amounts while facing ongoing scrutiny from the Australian Securities and Investments Commission.
Source: YAHOO
Reported 22 days ago
Australian police conducted a search at the PwC Australia office in Sydney in connection with a probe involving a former partner who leaked confidential government tax information. This follows a parliamentary inquiry that revealed PwC had internally shared and concealed the leaked data. PwC is cooperating with the Australian Federal Police in the ongoing investigation, which has already resulted in several high-profile departures from the firm.
Source: YAHOO
Reported 22 days ago
The CEO of Caesars Entertainment has revealed the company's mixed financial results for Q3, which saw a decline in gaming revenue but record-breaking non-gaming revenues, contributing to overall strong performance in Las Vegas, particularly with hotel and dining sectors thriving amidst robust occupancy rates.
Source: YAHOO
Reported 22 days ago
Australia has annulled a multi-billion dollar military satellite program with Lockheed Martin, opting instead for a multi-orbit system to enhance national defense. The Australian Department of Defence stated that advancements in space technology and evolving threats have prompted this decision, asserting that a single geostationary satellite system would not align with strategic priorities. Despite the cancellation, Australia plans to allocate between A$9-12 billion for future space capabilities.
Source: YAHOO
Reported 22 days ago
Warren Buffett's Berkshire Hathaway has notably decreased its Apple shares from 907.6 million to about 296 million, primarily due to tax concerns and perceived overvaluation of Apple stock. Despite this, the careful approach to selling has surprisingly led to an increase in Apple's share price from $192.53 at the end of 2023 to $233 by September 30, 2024. Buffett may also be preparing Berkshire for a smooth transition in leadership, considering his age and the company's diversified investments.
Source: YAHOO
Reported 22 days ago
Blackstone is in advanced discussions to acquire Retail Opportunity Investments Corp (ROIC), which owns U.S. shopping centers valued at $3.4 billion. If successful, the deal could be finalized soon, with competition from other private equity firms like Bain Capital. Despite strong performance in rental income and low vacancy rates in shopping centers, the outcome remains uncertain as other bidders may emerge.
Source: YAHOO
Reported 22 days ago
As polls show a close contest between Donald Trump and Kamala Harris ahead of the US presidential election, Wall Street adopts a cautious stance, resulting in a drop in the dollar and a rise in bond prices. Traders are wary of potential volatility due to an uncertain election outcome and upcoming Federal Reserve decisions. Historical trends suggest equities may perform better after Election Day, yet current market anxiety is reflected in increased risk levels across various assets.
Source: YAHOO
Reported 22 days ago
As November begins, investors might want to explore three energy stocks: Chevron, known for its diversification and strong dividend history; Enterprise Products Partners, which offers a stable midstream investment with a generous yield; and Devon Energy, a volatile upstream player that could thrive if oil prices rise. Each company presents unique opportunities in the energy sector, catering to different investment strategies.
Source: YAHOO
Reported 22 days ago
Mitsubishi Corp and Nissan are set to establish a joint venture focusing on autonomous driving and the use of electric vehicle batteries for energy storage, according to a report by the Yomiuri newspaper. The new company is expected to be launched by March 2025 and will be equally owned by both companies.
Source: YAHOO
Reported 22 days ago
As November begins, three utility stocks stand out for dividend investors: Black Hills, known for its reliable growth and strong 4.4% yield; NextEra Energy, with impressive 11% annualized dividend growth; and Eversource Energy, which appears undervalued with a 4.3% yield despite some recent challenges. Each offers distinct advantages, catering to conservative investors, those seeking growth, and value-oriented buyers.
Source: YAHOO
Reported 22 days ago
Source: BARRONS
Reported 22 days ago
Netflix has emerged as a phenomenal investment over the past two decades, transforming an initial $10,000 into nearly $5.6 million. Moving from its beginnings in 2007 to becoming a global media powerhouse with 283 million customers and $40 billion in annual revenue, Netflix has seen exceptional growth. Despite the saturated market, the company continues to innovate, cracking down on password sharing and introducing new subscription tiers, while maintaining strong profitability. However, potential investors should be cautious, as its current stock valuation may reflect future expectations that could be overly optimistic.
Source: YAHOO
Reported 22 days ago
Chinese solar firms are responding to US tariffs by cutting production in Vietnam and rapidly opening new factories in Indonesia and Laos. These new plants aim to supply a significant volume of solar panels to the US market, circumventing the tariffs that have escalated against Southeast Asian nations. Despite recent job losses in existing facilities, the overall competition continues as Chinese firms leverage their technology to maintain market dominance.
Source: YAHOO