In the cutthroat world of startups, it’s not uncommon to come across ambitious entrepreneurs making grand claims to entice investors. Foundation Robotics Labs, a humanoid robotics startup, found itself in hot water after allegedly fabricating ties with General Motors (GM) in a bid to secure funding. The company claimed that GM had committed to investing
Art
The recent softer-than-expected U.S. inflation data has had a significant impact on the foreign exchange market, particularly in Asia. While most Asian currencies were firm against a weakening dollar, the yen struggled ahead of a Bank of Japan meeting, and U.S. policymakers signaled that rates would remain high for the foreseeable future. Following the U.S.
The Federal Reserve recently concluded its two-day meeting and made the decision to keep the key interest rate unchanged. Despite markets hoping for a more accommodative stance from the central bank, the Federal Open Market Committee (FOMC) indicated that only one rate cut is expected before the end of the year. This was a departure
As Roaring Kitty, also known as Keith Gill, observes the fluctuating GameStop shares, he faces a tough decision regarding his substantial options position that is nearing expiration. His current holdings include 5 million GameStop common shares and 120,000 call options, representing 12 million underlying shares. The call options have a strike price of $20 and
In recent trading sessions, the USD/JPY pair has shown a positive trend, marking the fourth consecutive day of gains. This upward movement is significant and has caught the attention of traders and analysts alike. The pair is currently trading near 157.15 during the early Asian trading hours on Wednesday, indicating a bullish sentiment among market
The US annual inflation rate is predicted to remain at 3.4% in May, while the core inflation rate is expected to soften from 3.6% to 3.5%. These numbers are crucial as they can influence investor expectations of a September Fed rate cut. A more hawkish Fed rate path could lead to increased borrowing costs and
Apple device users are in for a treat as they will soon have the option to utilize buy now, pay later loans from Affirm for their purchases. Affirm, a fintech company based in San Francisco, announced that it will be available as a payment choice for U.S. Apple Pay users on iPhones and iPads later
Poland is facing significant challenges in its fiscal policy, as highlighted by a senior International Monetary Fund official. The European Commission has projected that Poland’s budget deficit will rise to 5.4% of gross domestic product this year, which is among the highest in the European Union. This is primarily due to the government’s increased expenditure
GBPUSD recently advanced to its highest level since March 13th, showcasing a strong bullish momentum in the market. However, this rally was short-lived as the pair started to reverse lower, signaling that the uptrend may have become overstretched. The price action was driven by profit-taking activities, leading to a temporary pullback in the exchange rate.
The global markets are currently on edge as Asian markets cautiously assess the impact of the recent success of right-wing parties in the European Union on the cohesion of the bloc. While EUROSTOXX 50 futures have shown a slight uptick of 0.2%, FTSE futures remain stagnant. The euro is holding steady at $1.0766, slightly above
GameStop shares took a steep nosedive, dropping over 14% on Monday, following a significant sell-off triggered by disappointing earnings and an underwhelming livestream by Keith Gill. The stock, which had already plummeted nearly 40% on Friday, hit a low of around $24 per share on Monday. The release of GameStop’s earnings report ahead of schedule
As investors gear up for the new trading week, the European political landscape is shrouded in uncertainty. The recent European Parliament elections have resulted in a significant gain for eurosceptic-nationalists, displacing liberals and greens. Additionally, President Emmanuel Macron’s decision to dissolve the French Parliament and call for early legislative elections has added to the instability
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