Billionaire investor Bill Ackman has taken a major step by selling a 10% stake in Pershing Square, a move aimed at eventually making his investment firm public. The fundraising round saw the company raise $1.05 billion, representing 10% of the management company and suggesting a valuation of $10.5 billion. The investors involved in the deal
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France is making its name known in the world of artificial intelligence, positioning itself as the next superpower in this technological field. The Viva Technology conference held in Paris was abuzz with discussions about France’s advancements as an AI leader. One notable highlight was the French AI firm H, previously known as Holistic, which secured
Doconomy, a Swedish fintech startup, has recently secured 34 million euros in funding from major European banks, such as UBS and CommerzVentures. This influx of cash, obtained through a Series B financing round, highlights the increasing importance of climate-focused financial technology in the industry. Doconomy offers innovative tools that enable bank customers to measure the
The Australian Dollar seems to have held its ground after China’s PMI data was released on Friday. This could be attributed to the hawkish sentiment surrounding the Reserve Bank of Australia’s potential rate hikes in the near future. The fact that the Australian Dollar did not depreciate significantly despite the disappointing PMI figures from China
The US Dollar Index (DXY) faced a setback after a strong rebound on Wednesday, as markets reacted negatively to the latest US economic indicators. The increase in Weekly Jobless Claims exceeded expectations, signaling a potential softening in the labor market. This, combined with the revised GDP figures showing a growth rate of 1.3%, raised concerns
As the New York Federal Reserve President John Williams addressed concerns about inflation during a recent event, he acknowledged that inflation levels are still too high. However, Williams expressed confidence that inflation will start decelerating later this year. Despite the markets being on edge regarding the direction of monetary policy, Williams did not provide clear
Kohl’s faced a significant blow as its shares dropped by more than 20% in premarket trading following the release of its first quarter financial results. The market was taken by surprise as the company reported a loss per share instead of the expected profit. This unexpected turn of events put the company’s performance in sharp
The commodity market is facing challenges in maintaining its upward momentum, frequently experiencing sell-offs. Recent data shows that the price of Brent crude oil dropped to 83.60 USD per barrel, indicating a decline. This fall in prices can be attributed to various factors such as expectations surrounding lending costs and the possibility of high interest
The Euro is currently facing a period of consolidation as a result of a sharp decline on Wednesday, marking its biggest daily loss since April 30. This decline was largely driven by fresh risk aversion in the market, leading to a cautious approach among investors. Despite finding support at the key level of 1.0790/80, which
The CEO of Swedish fintech startup Trustly, Johan Tjarnberg, recently discussed the company’s decision to delay its initial public offering (IPO) despite a 51% increase in operating profit. Tjarnberg revealed that Trustly intends to wait another year or two before going public to demonstrate the value of its open banking technology to potential investors. He
In recent days, the dollar has seen a significant increase in value against other major currencies. This rise can be attributed to a selloff in Treasuries which has led to higher U.S. yields. As investors seek safe haven assets amidst global market turmoil, the dollar has emerged as a preferred choice. The bond market rout
The recent rise in U.S. and global bond yields is causing turmoil in Asian markets, with investors feeling the effects of a strengthening dollar and tighter financial conditions. The lack of significant economic data and events in Asia on Thursday has left market participants to contemplate the implications of this trend, leading to a decline