Billionaire investor Kenneth Griffin, in a recent interview with the Financial Times, made a fervent plea to his alma mater Harvard University to uphold “Western values” in the midst of what he referred to as a “cultural revolution” in U.S. education. Griffin expressed his concern that the fundamental principles of education, namely the pursuit of
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Singapore’s second-largest bank, Oversea-Chinese Banking Corp (OCBC), recently reported a 5% increase in first-quarter profit, surpassing market expectations. The bank also announced a S$1.4 billion offer to privatize its insurance arm, Great Eastern. This move highlights OCBC’s strategic focus on enhancing its business portfolio and maximizing shareholder value. Additionally, OCBC forecasted a robust net interest
A recent regulation proposed by the Consumer Financial Protection Bureau (CFPB) aimed to reduce late fees on credit cards for Americans. However, the implementation of this rule is being challenged by the U.S. Chamber of Commerce and the card industry. This article will critically analyze the potential impacts of this regulation and the legal battle
The USD/JPY exchange rate is currently hovering around 154.784, but intervention risks are looming large. Masato Kanda recently issued a warning, stating that the government would step in if there are any speculative or disorderly movements in the foreign exchange markets. This has sparked concerns among investors, especially after the currency pair experienced a sharp
The U.S. stock futures showed minimal changes on Tuesday, following a positive streak in the Dow. The slight increase in Dow futures, along with higher S&P 500 futures and a dip in Nasdaq 100 futures, reflected the optimism among investors. This positive sentiment came on the heels of April’s weaker-than-expected job growth, which raised hopes
The optimism surrounding potential interest rate cuts in the United States has propelled Asian stocks to 15-month highs, with investors closely monitoring the situation. The MSCI’s broadest index of Asia-Pacific shares outside Japan saw a 0.3% increase at the onset of trading, indicating a positive sentiment among investors. However, Hong Kong shares experienced a slight
Berkshire Hathaway, the conglomerate led by Warren Buffett, recently reported a significant surge in operating earnings in its first-quarter results. The company’s operating profit rose to $11.22 billion, a 39% increase from the same period last year. This growth was mainly driven by the strong performance of its insurance underwriting businesses, particularly Geico. The insurance
The Bank of England is set to meet for the third time in 2024 on Thursday. The decision on interest rates will be announced along with the release of the Monetary Policy Report and minutes of the meeting. Market expectations do not anticipate a change in the current bank rate of 5.25%. Instead, the focus
The Internal Revenue Service (IRS) recently announced its strategic operating plan to significantly increase audit rates for big corporations, partnerships, and multimillionaires over the next three years. This move comes as part of the IRS’s efforts to boost enforcement spending and hiring in order to enhance tax collections. The IRS’s plan includes targeting a near
The level of interest rates set by the Reserve Bank of Australia (RBA) plays a crucial role in determining the value of the Australian Dollar (AUD). As a resource-rich country, Australia’s economy is heavily influenced by the price of its biggest export, Iron Ore. Additionally, factors such as the health of the Chinese economy, Australia’s
U.S. stock index futures witnessed a decline on Wednesday due to disappointing results from chip stocks such as Advanced Micro Devices (AMD) and Super Micro Computer (SMCI). The AI chip sales forecast from AMD fell short of investor expectations, leading to a 6.3% drop in premarket trading. Similarly, SMCI reported third-quarter revenue below estimates, causing
Amazon’s shares saw nearly a 2% increase after the company exceeded both top and bottom-line expectations. With earnings of 98 cents per share on $143.31 billion in revenue, Amazon outperformed analysts’ forecasts of 83 cents per share on $142.5 billion in revenue. Despite beating expectations in advertising and Amazon Web Services, the company’s second-quarter revenue