Goldman Sachs has delivered a commendable performance for the third quarter of the fiscal year, exceeding analysts’ expectations for both profit and revenue. The investment giant reported earnings of $8.40 per share, significantly surpassing the estimated $6.89, and its overall revenue hit $12.70 billion compared to a projected $11.8 billion. This marks a substantial year-over-year
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As the newly elected Labour government prepares for its first budget on October 30, it finds itself in a precarious position: to avert cuts to vital public services, it may need to introduce substantial tax increases. The Resolution Foundation, an influential economic think tank, has underscored the gravity of this situation, indicating that an additional
With Shigeru Ishiba poised to take the helm of Japan as the new prime minister, the landscape of the nation’s monetary policy appears to be on the cusp of evolution. Having emerged victorious from the ruling Liberal Democratic Party leadership race, Ishiba’s approach to fiscal and monetary policy signals a nuanced continuity with existing frameworks
Japan’s currency landscape has been shaping into a complex organism influenced by carry trades, seen as both opportunities for investors and potential liabilities for the economy. In a recent interview, Atsushi Mimura, Japan’s vice finance minister for international affairs, shed light on how authorities are continuously monitoring these trading patterns, especially as the resurgence of
China’s economy, the second-largest in the world, has been navigating turbulent waters recently. With global economic pressures mounting, the Chinese government is under increasing scrutiny regarding its monetary policy. On a notable Friday, the People’s Bank of China (PBOC) surprised financial markets by maintaining its benchmark lending rates despite widespread anticipations for a cut. This
Sotheby’s, the renowned auction house, is venturing into a new kind of selling in Hong Kong with the opening of its first retail outlet. This innovative concept will offer a wide range of items, from collectible trainers to dinosaur fossils, with prices starting at several hundred dollars. This move comes at a time when luxury
Recently, Chinese authorities unveiled a new policy aimed at supporting the venture capital sector in the country. This move has raised hopes for faster approvals of initial public offerings (IPOs) in the near future. The Chinese venture capital ecosystem, which was once thriving, has experienced a significant slowdown over the past three years due to
The incoming Mexican president, Claudia Sheinbaum, is faced with the daunting challenge of fulfilling her campaign promises to enhance social programs amid a surge in the budget deficit. In his final year in office, President Andres Manuel Lopez Obrador increased spending to complete infrastructure projects and expand welfare programs, leading to a budget deficit of
In a recent meeting of the G7 finance chiefs in STRESA, Italy, a draft statement revealed discussions on utilizing the future income from frozen Russian assets to assist Ukraine. This move comes after the G7 and its allies froze approximately $300 billion of Russian assets following Moscow’s invasion of Ukraine in February 2022. The aim
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