France finds itself in a precarious financial situation as the country has requested an extension from the European Commission beyond the initial September 20 deadline to submit a plan to reduce its public deficit. The finance ministry has stated that this extension is necessary to align with Paris’ 2025 draft budget, as reported by La
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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
Recent events in France have sparked mass protests across the country, all stemming from President Emmanuel Macron’s decision to appoint centre-right Michel Barnier as prime minister. This move has led to accusations from left-wing parties of Macron stealing the legislative elections. Accusations of Democracy Denial The left, particularly the far-left France Unbowed (LFI) party, has
Elizabeth Street Garden, a cherished public oasis in lower Manhattan, faces imminent eviction to make way for a new housing development project. The garden, founded in 1991 by an antiques gallery owner, has become a symbol of community and respite in the crowded Little Italy neighborhood, immortalized in films like “Mean Streets” starring Robert De
Recent reports from Bloomberg News suggest that the U.S. Federal Reserve, along with other regulators, is gearing up to introduce significant revisions to proposed bank capital rules. These changes, totaling up to 450 pages, would focus on key aspects such as operational risk provisions. One of the crucial modifications in the revised proposal involves a
In the midst of deep political fault lines and a divided parliament, French President Emmanuel Macron has appointed Michel Barnier, a seasoned political figure known for negotiating Brexit, as his prime minister. This decision comes at a crucial time for Macron, who is facing growing questions about his ability to lead the country until 2027.
The recent data from the Labor Department indicates a decline in the number of Americans filing new applications for jobless benefits, suggesting that layoffs remain low. This development alleviates concerns about the deterioration of the labor market and allays fears of a looming recession. The weekly jobless claims report also shows a reduction in unemployment
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
The USD/JPY pair has experienced a slight increase, reaching 145.95 on Wednesday morning. This movement represents a rebound from two-week lows; however, it is premature to predict a significant reversal in the trend given the current economic conditions. Market participants are exercising caution as they await the release of crucial US employment market data for
The recent sell-off in Wall Street has prompted a surge in the safe-haven Japanese yen, with riskier currencies like the Australian dollar and sterling taking a hit. Traders are seeking cover due to concerns about a potential hard landing for the U.S. economy. The catalyst for this market reaction was the release of soft U.S.
The Malaysian central bank, Bank Negara Malaysia (BNM), is set to leave its key interest rate unchanged as growth remains strong and inflation remains under control, according to a recent poll conducted by Reuters. Despite the fact that inflation is currently at 2.0%, the Malaysian ringgit has shifted from being one of the weakest performing
Upon closer examination of the BTC/USD chart, it is evident that Bitcoin’s price is currently facing a critical juncture. The analysis reveals that the cryptocurrency is navigating within two distinct channels: a bullish channel that originated in 2023 amidst rumors of Bitcoin ETF approval, and a bearish channel that materialized in March 2024 following the
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