In July 2023, the Chinese government launched a comprehensive plan aimed at revitalizing domestic consumption. This initiative involved the allocation of 300 billion yuan ($41.5 billion) in ultra-long special government bonds specifically intended to support a trade-in and equipment upgrade policy. The overarching goal was to stimulate spending within the economy by enticing consumers to
Global Finance
Dutch challenger bank Bunq is on a mission to rapidly expand its global reach by growing its headcount by a whopping 70% this year, aiming to have over 700 employees on board. While other financial technology startups are opting to scale back on jobs, Bunq is taking a different approach by gearing up for expansion
In a surprising move, Warren Buffett’s Berkshire Hathaway has once again offloaded a significant portion of its Bank of America shares. This recent round of sales brings the total amount divested to over $7 billion since mid-July, resulting in a reduced stake of 11% in the company. The conglomerate sold a total of 5.8 million
The U.K. is facing significant challenges when it comes to commercializing technology businesses globally. According to Warren East, former CEO of Arm, there is a need for a mindset shift within the investor community in order to succeed on the world stage. East pointed out that there has been a lackluster growth and poor rates
As the U.S. Federal Reserve prepares for its upcoming meeting, the possibility of a jumbo 50 basis point rate cut is being debated. This move, according to analysts, could demonstrate that the central bank is ready to take decisive action without signaling deeper concerns about a broader economic downturn. Michael Yoshikami, CEO of Destination Wealth
The year 2024 has seen a surge in exchange-traded fund inflows, surpassing previous monthly records. Managers are closely monitoring this trend as they anticipate the impact of the money market fund boom on ETF inflows by the end of the year. Nate Geraci, president of The ETF Store, highlighted the significance of the $6 trillion
China’s policymakers, according to Yi Gang, the former head of the People’s Bank of China, must prioritize boosting domestic demand to combat deflationary pressure. The key focus should be on improving domestic demand, addressing issues in the real estate market, local government debt problems, and restoring society’s confidence. Proactive fiscal policies and accommodative monetary policies
Visa, the renowned card network company, has recently announced its plans to introduce a groundbreaking service that will revolutionize the way bank transfers are conducted. This new service, which will bypass the traditional credit card and direct debit methods, is set to be launched in Europe in the coming year. By allowing users to set
Following a significant drop in Nvidia’s share price in the U.S., Asian semiconductor stocks experienced a decline on Wednesday morning. This downward trend was influenced by Nvidia’s over 9% plunge in regular trading, which triggered a sell-off in semiconductor stocks across Wall Street. The economic data released on Tuesday also contributed to the jittery sentiment
China’s economic landscape is a complex web of interconnected factors, with the latest data from the Milken Institute’s best performing cities China index revealing a mix of winners and losers among the country’s urban centers. Hangzhou, home to tech giants like Alibaba, has emerged as a top performer in the rankings, showcasing the benefits of
China recently made headlines for its first attempt at a top-tier video game with Black Myth: Wukong, an action game based on mythological China. The game managed to sell over 10 million units within three days of its launch in August. This success has been seen as a significant milestone for the Chinese gaming industry,
Chinese President Xi Jinping recently emphasized the importance of finding “a right way” for the United States and China to get along. Despite the growing tensions between the two countries in various sectors, Xi reiterated China’s commitment to a stable and healthy relationship with the U.S. during a meeting with U.S. national security advisor Jake
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