Financial technology company Klarna has recently announced its expansion into the banking sector with the launch of new products aimed at disrupting traditional retail banking. These products include a checking account-like feature called Klarna Balance and a cashback offering that rewards users for shopping through the Klarna app. Klarna’s CEO and founder, Sebastian Siemiatkowski, stated
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In July 2024, inflation rates in the United States dipped below 3% for the first time in over three years, marking a significant shift in the economic landscape. While certain sectors of the economy are experiencing disinflation, where prices continue to rise at a slower pace, others are facing outright deflation. The phenomenon of deflation,
Warren Buffett, the renowned investor and CEO of Berkshire Hathaway, has recently made headlines for holding an equal number of shares in Apple and Coca-Cola. This newfound symmetry in his stock portfolio has sparked speculation among investors and analysts alike. Buffett’s love affair with Coca-Cola dates back to 1988 when he first bought shares in
The current market sentiment seems to be concentrated more on growth-related macroeconomic data rather than concerns about inflation risk. This change in focus can be attributed to fears of a potential US recession or hard-landing scenario. The recent soft US retail sales data has only added to these concerns, sparking apprehension among investors. The Nasdaq
The article discusses how gold prices rebounded after a post-CPI selloff, which pushed the precious metal down to around $2438/oz. It mentions that the US Dollar Index struggled, aiding gold’s recovery in the later part of the US session. The unexpected selloff was attributed to US CPI figures being below expectations, leading market participants to
The CEO of UBS, Sergio Ermotti, recently expressed concerns about the potential intensification of market volatility in the second half of the year. This comes after a period of sharp sell-offs in global equities, triggered by weak economic data from the U.S. While there are fears of an economic downturn, Ermotti does not believe that
Following the unexpected decision by the Bank of Japan to raise interest rates to around 0.25%, the financial markets experienced a series of reactions. The Yen rallied while the Nikkei 225 briefly collapsed. Economists have expressed concerns over the unwinding of the Yen carry trade, suggesting that more volatility could be on the horizon for
Zeekr, a Chinese electric car brand, has recently unveiled new batteries that are being hailed as the fastest charging batteries in the world. This groundbreaking technology aims to address the long-standing concerns of consumers regarding battery driving range and charging convenience. The company claims that these new batteries can go from a 10% to an
The recent trading sessions have seen the USD/CHF pair trading in positive territory near 0.8670. The focus of investors has now shifted towards the upcoming US economic data releases. The US Producer Price Index (PPI), Consumer Price Index (CPI), and Retail Sales data are set to be released this week on Tuesday, Wednesday, and Thursday
The dollar seemed to be in a state of limbo on Tuesday, leaving investors on edge as they eagerly awaited the release of U.S. economic data. The greenback was seen idling at 147.17 yen, after briefly reaching a one-week high of 148.23 yen. There was a sense of uncertainty as profit-taking emerged, causing the dollar
The USD/CAD pair is currently trading around 1.3740 in the Asian session, with traders awaiting the US Producer Price Index (PPI) data for fresh trading impetus. The recent surge in crude oil prices and expectations of a Fed rate cut in September are factors that might support the Canadian Dollar (CAD) in the short term.
The AUD/USD pair saw a significant boost, settling near the 0.6600 level. This move came as a result of the Reserve Bank of Australia (RBA) maintaining its hawkish position. The RBA’s unwavering stance, coupled with stronger Chinese inflation figures, provided a strong foundation for the Australian Dollar (AUD). However, the escalating geopolitical tensions in the
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