Recently, a former Societe Generale trader, Kavish Kataria, made headlines after accusing the French bank of unfairly firing him for unauthorized risky bets. Kataria claimed that he was made a “scapegoat” by the bank and that it failed to take responsibility for missing the trades. According to Kataria, the profits and losses on his trades
Global Finance
The Federal Reserve recently made the decision to keep interest rates steady, opting not to cut rates amidst growing concerns over inflation. The central bank kept its benchmark short-term borrowing rate within a targeted range of 5.25%-5%, a level that has been in place since July 2023. This decision was widely anticipated as the Fed
The financial stability of small and regional banks in the United States is currently under scrutiny as many of them are facing significant stress. According to Christopher Wolfe, managing director at Fitch Ratings, there is a genuine concern that some of these banks may either fail or struggle to meet their minimum capital requirements. This
In the world of investing, volatility in the market can be a significant source of concern for investors. To address this issue, a new exchange-traded fund (ETF) has been introduced – the Calamos S&P 500 Structured Alt Protection ETF (CPSM). This ETF promises investors “100% downside protection” against losses in the S&P 500 over a
Amazon’s shares saw nearly a 2% increase after the company exceeded both top and bottom-line expectations. With earnings of 98 cents per share on $143.31 billion in revenue, Amazon outperformed analysts’ forecasts of 83 cents per share on $142.5 billion in revenue. Despite beating expectations in advertising and Amazon Web Services, the company’s second-quarter revenue
The recent volatility in the bond market has been a cause of concern for equity investors, raising questions about how rising yields will affect stocks in the year 2024. According to Goldman Sachs, the key threshold to watch out for is 5% on the 10-year Treasury yield. In a comprehensive 19-page report analyzing market data
Local Chinese authorities have removed restrictions on Tesla cars after the company’s China-made vehicles passed the country’s data security requirements. This significant breakthrough came following an unexpected meeting between Tesla CEO Elon Musk and Chinese Premier Li Qiang. The move comes at a time when Tesla’s electric cars are gaining popularity in China, despite initial
In today’s rapidly evolving technological landscape, it is crucial for investors to stay ahead of the curve by identifying key areas of growth and opportunity. According to ARK Invest’s chief futurist, Brett Winton, there are five groups that tech investors should focus on to gain a competitive edge. These areas include robotics, artificial intelligence, multi-omics
Chinese electric car startup Nio, known for its premium offerings, is now venturing into the lower-priced segment of the market. In an attempt to compete with Tesla’s Model Y, Nio plans to release a mass-market SUV that is more affordable. This move marks a significant shift from Nio’s initial focus on luxury vehicles costing around
Deutsche Bank shares surged to a more than six-year high following the release of its first-quarter results. The German lender reported a 10% rise in profit, surpassing analyst expectations and indicating a positive trend in its investment banking division. The stock, which initially declined in the morning, rallied 7.2% in London, reaching its highest intraday
Synthesia, a leading artificial intelligence firm backed by Nvidia, has introduced a groundbreaking technology that has the potential to transform the way videos are produced. With their innovative “Expressive Avatars,” Synthesia enables users to create digital characters that can convey human emotions through text inputs. By harnessing the power of AI, this technology blurs the
Former CEO of cryptocurrency exchange Binance, Changpeng Zhao, is facing a potential 36-month sentence for charges related to enabling money laundering. U.S. prosecutors are seeking a sentence above the recommended guidelines in order to reflect the seriousness of the crimes committed. The suggested advisory sentencing range for Zhao falls between 12 to 18 months, but