Reported 5 days ago
Nvidia, a leader in the AI chip market, has experienced immense growth this year, with many anticipating its upcoming earnings report on Nov. 20 as a key indicator of future performance. While the company has shown consistent revenue increases driven by its data center business, this quarter's growth is expected to slow, which may cause some investor concern. However, strong demand for Nvidia's new Blackwell architecture, highlighted by statements from industry leaders, suggests potential positive momentum for the stock despite existing high valuations.
Source: YAHOO
Reported 5 days ago
Global financial regulators, led by the Financial Stability Board (FSB), announced plans to tighten leverage controls on non-bank financial institutions (NBFIs) starting early 2025. The move comes in response to rising concerns about private credit's rapid growth and its risk factors, which could pose systemic risks to the financial system. The FSB is expected to release a consultation report with policy recommendations to help monitor vulnerabilities and mitigate risks associated with NBFIs' increasing borrowings.
Source: YAHOO
Reported 5 days ago
Xiaomi Corp. has raised its electric vehicle delivery target for 2024 to 130,000, showcasing confidence in its emerging EV business. This increase from the previous goal of 120,000 was announced by billionaire co-founder Lei Jun on social media ahead of the company's quarterly earnings report. Despite anticipated revenue growth, net income is expected to decline due to fierce competition in the EV market from established players like Tesla and BYD.
Source: YAHOO
Reported 5 days ago
Xiaomi CEO Lei Jun announced that the company has delivered over 100,000 units of its SU7 electric vehicle series, with a new target of reaching 130,000 deliveries by the end of the year, an increase of 10,000 from the previous goal.
Source: YAHOO
Reported 5 days ago
European Central Bank Vice President Luis de Guindos cautioned that excessive sovereign debt may hinder governments' ability to confront long-term economic issues, potentially leading to sluggish growth. During a speech at Euro Finance Week in Frankfurt, he highlighted that rising primary budget deficits could limit investment in crucial areas such as climate change, defense, and digitalization. Guindos noted that the shift in macroeconomic risks from inflation concerns to economic growth fears reflects a challenging outlook for the region's financial stability.
Source: YAHOO
Reported 5 days ago
The recent surge in Bitcoin's price, nearly 30% in one week to an all-time high of $93,434, has sparked interest among new investors. This article highlights seven crucial numbers for Bitcoin owners, including the fact that owning approximately 10 bitcoins can make one a millionaire, Bitcoin's current price nearing $100,000, and projections of it reaching $1 million by 2030. It also emphasizes the importance of long-term holding, as volatility can lead to significant price drops. Ultimately, Bitcoin's growth potential makes it an attractive asset for investment consideration.
Source: YAHOO
Reported 5 days ago
Northvolt, a prominent electric vehicle battery manufacturer, is struggling to meet production targets and has reduced output at its facility in Sweden due to internal setbacks and delays. Internal documents reveal the company has consistently fallen short of its weekly goals for shippable battery cells, leading to significant workforce reductions and a possible Chapter 11 bankruptcy filing. Despite being seen as a key player in Europe's effort to compete with China in the EV battery market, Northvolt faces ongoing challenges in ramping up production and maintaining the quality of its batteries.
Source: YAHOO
Reported 5 days ago
Sri Lanka's new Marxist-leaning president, Anura Kumara Dissanayake, has appointed a 22-member Cabinet following his party's significant victory in the recent elections, allowing for ambitious reforms such as a new constitution. The National People's Power Party secured a two-thirds majority, winning 159 out of 225 parliamentary seats. As the country faces its worst economic crisis, the administration aims to address issues of corruption and dissatisfaction with past governments, having made promises to restructure debt agreements and implement crucial changes.
Source: YAHOO
Reported 5 days ago
European Central Bank policymaker Joachim Nagel stated that the tariffs proposed by U.S. President-elect Donald Trump could disrupt international trade but may have only a minor effect on inflation. Citing studies on global trade's influence on domestic prices, he emphasized that significant decreases in global integration would be necessary to cause noticeable inflationary pressures. Moreover, he reassured that central banks could counteract potential inflation with higher interest rates.
Source: YAHOO
Reported 5 days ago
Airbnb has urged the mayor of Barcelona to reconsider increasing restrictions on short-term rentals, claiming that such measures predominantly benefit the hotel industry without solving issues of overtourism and the housing crisis. In a recent letter, Airbnb pointed out that previous regulations have not effectively addressed these challenges, as data shows a significant rise in long-term rents and hotel prices despite a reduction in short-term rental listings. The company advocates for policies targeting vacant homes to enhance affordable housing instead of strict limitations on vacation rentals.
Source: YAHOO
Reported 5 days ago
ECB Governing Council member Joachim Nagel has highlighted the increasing threat of fragmentation in the global economy, which could lead to higher inflation and greater volatility. Speaking in Tokyo, he stressed the need for restoring cooperation and free trade, while also warning that rising international tensions could necessitate higher interest rates to maintain price stability.
Source: YAHOO
Reported 5 days ago
Source: BARRONS
Reported 5 days ago
Pakistan's leading clerics have ruled that using virtual private networks (VPNs) contradicts Islamic law, coinciding with the government's attempts to outlaw these services to combat censorship evasion. The Council of Islamic Ideology's chairman stated that platforms facilitating controversial content should be restricted. Millions of Pakistanis have turned to VPNs to access blocked platforms, notably X, as the government tightens internet controls under the pretext of national security and combating terrorism. Critics argue the proposed VPN ban endangers freedom of expression.
Source: YAHOO
Reported 5 days ago
OK Lim, the 82-year-old founder of Hin Leong Trading, was sentenced to 17.5 years in prison by a Singapore court for cheating HSBC and forgery, marking a significant scandal in the commodity trading sector. Lim, who appeared in court in a wheelchair, was found guilty of serious cheating offenses amidst a backdrop of his company’s collapse due to hidden losses of $800 million during the pandemic. Despite an appeal being filed, he will serve the sentence, which reflects the severity of his actions that have impacted Singapore's reputation as a trading hub.
Source: YAHOO
Reported 5 days ago
Diageo is promoting its zero alcohol variant, Guinness 0.0, as traditional sales of its flagship stout encounter challenges from price increases, which have alienated some customers in the UK. As a result, pubs are increasingly opting for alternatives like Heineken's Murphy's stout. While Guinness remains dominant, rising competition from both established and new brands is reshaping the market landscape, thereby presenting an opportunity for rivals to capture some of the growing stout segment.
Source: YAHOO
Reported 5 days ago
British semiconductor manufacturer IQE announced a strategic review of its assets and is considering selling its Taiwan operations due to stagnant revenue forecasts this year. The company, a key supplier for Apple, saw its shares drop by 15% following the announcement, citing challenges in the semiconductor market and increasing supply chain security concerns. After previously planning an initial public offering for its Taiwan unit, IQE is now exploring all options as it navigates a difficult financial landscape.
Source: YAHOO
Reported 5 days ago
Bitcoin has rebounded following its largest two-day decline since the U.S. election, reflecting mixed reactions to President-elect Donald Trump's pro-crypto initiatives. The digital currency fell nearly 3% over the weekend before climbing back to around $90,675. Amid inflation concerns and shifting market dynamics, analysts suggest the correlation between Bitcoin and traditional assets like gold may continue to diverge, while regulatory changes under the incoming administration could further influence the crypto market.
Source: YAHOO
Reported 5 days ago
Oil prices have increased slightly due to escalating tensions between Russia and Ukraine, following Russia's largest airstrike on Ukraine in nearly three months. Brent crude rose 0.8% to $71.59 a barrel and West Texas Intermediate crude increased 0.6% to $67.45. Despite these gains, concerns about weak fuel demand in China and predictions of a global oil surplus are dampening market enthusiasm. The U.S. government's decision to allow Ukraine to use American weapons for deeper strikes into Russia has further heightened geopolitical tensions.
Source: YAHOO
Reported 5 days ago
Crypto exchange OKX has launched an instant funds transfer service for Singapore dollar deposits and withdrawals, in partnership with DBS Bank, marking a significant integration with Singapore's financial system. This move comes amid a surge in cryptocurrency interest, with bitcoin recently hitting record highs, and aligns with Singapore's emergence as a leading crypto hub in Asia.
Source: YAHOO
Reported 5 days ago
U.S. stocks saw a slight recovery on Monday, bouncing back from a significant decline last week, with the S&P 500 gaining 0.4%. CVS Health's stock jumped after appointing new directors, while Spirit Airlines faced trading halts amid bankruptcy protection efforts. Investors are adjusting to potential economic shifts under President-elect Donald Trump, with concerns about inflation impacting market performance. Major companies like Nvidia, Walmart, and Target are set to release quarterly earnings this week, as traders look for signals on economic strength.
Source: YAHOO
Reported 5 days ago
Bank of Japan Governor Kazuo Ueda indicated that the economy is moving towards sustained wage-driven inflation, suggesting a potential interest rate hike as soon as next month. Ueda highlighted the importance of timely stimulus reduction to prevent unchecked inflation, while avoiding clear signals about the timing of future rate adjustments. Current market speculation suggests a 54% chance of a quarter-point hike at the BOJ's next meeting in December, amid expectations of continued wage increases driving inflation.
Source: YAHOO
Reported 5 days ago
European oil companies like BP, Shell, and Equinor are scaling back their renewable energy ambitions, shifting back to oil and gas as they face profitability challenges and rising costs in the renewable sector. BP is investing billions into new oil projects while suspending low-carbon initiatives, and Shell is also reducing its low-carbon operations. Both companies aim for stronger short-term returns, despite concerns over missing climate targets and the potential long-term impacts on fossil fuel consumption.
Source: YAHOO
Reported 5 days ago
The Bank of Japan's Governor Kazuo Ueda suggested possible gradual tightening of policies if economic conditions align with forecasts, yet he provided no indication of a December rate hike, leaving markets disappointed. The dollar rose slightly against the yen while speculation continued about U.S. rate cuts amidst a cautious outlook from Federal Reserve officials. Key economic indicators and central bank speeches this week could further clarify the market's direction.
Source: YAHOO
Reported 5 days ago
The dollar strengthened against the yen as Bank of Japan Governor Kazuo Ueda hinted at potential monetary policy tightening but provided no specific timeline. Despite an upcoming monetary policy meeting in December, concerns over uncertainties have left the market cautious, with the dollar rising 0.17% to 154.6 yen. Meanwhile, broader market indices reflect mixed signals amidst speculations around potential U.S. trade tariffs and their implications for inflation.
Source: YAHOO
Reported 5 days ago
The post-election stock market rally in the US, spurred by Donald Trump's victory, is facing obstacles including rising inflation fears and uncertainty about the implications of the president-elect's policies. The S&P 500 recently dropped 2%, reversing over half of its post-election gains, as investors react to increased yields and speculation about Trump's cabinet decisions impacting various sectors. Overall, while some sectors continue to thrive, market optimism is tempered by concerns over economic policies and potential inflation.
Source: YAHOO