The recent decision by the Federal Reserve to lower interest rates by 50 basis points marks a significant shift in monetary policy, reflecting growing concerns about the slowing US economy. This strategic move indicates that the Fed is leaning towards fostering economic resilience through a softer landing rather than aggressive contraction. Such adjustments in monetary
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In July 2023, the Chinese government launched a comprehensive plan aimed at revitalizing domestic consumption. This initiative involved the allocation of 300 billion yuan ($41.5 billion) in ultra-long special government bonds specifically intended to support a trade-in and equipment upgrade policy. The overarching goal was to stimulate spending within the economy by enticing consumers to
Upon initial analysis, the NFPs may not appear to be weak, but a closer look reveals that the anticipated buying squeeze was short-lived. Despite initial speculations about a 50bp cut in September, the actual odds of this happening remained stagnant at 30%. This lack of movement in the odds follows a previous policy mistake in
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
China recently made headlines for its first attempt at a top-tier video game with Black Myth: Wukong, an action game based on mythological China. The game managed to sell over 10 million units within three days of its launch in August. This success has been seen as a significant milestone for the Chinese gaming industry,
China recently initiated an anti-subsidy probe into imported dairy products from the European Union, causing tensions to rise between the two entities. The probe, announced by China’s commerce ministry, focuses on various types of cheeses, milks, and creams intended for human consumption. Prompted by a complaint from the Dairy Association of China and the China
Xpeng, a Chinese electric car company, recently introduced its new mass-market Mona brand with prices starting at $16,812, significantly lower than Tesla’s Model 3. The launch of the Mona M03 electric coupe garnered impressive reception, with orders exceeding 10,000 in just 52 minutes after the unveiling event in Beijing. This positive response from consumers resulted
The story of British technology entrepreneur Mike Lynch is one that reads like a Hollywood script. Acquitted of fraud charges in a landmark trial in June, Lynch found himself in the eye of the storm just two months later when he was reported missing after the sinking of a superyacht off the coast of Sicily.
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
PortfolioPilot, an automated financial advisor, has managed to amass a staggering $20 billion in assets within just two years of its launch. This rapid rise symbolizes the potential impact of artificial intelligence on the wealth management sector. The co-founder of Global Predictions, Alexander Harmsen, revealed that PortfolioPilot has attracted over 22,000 users since its inception.
President Dina Boluarte of Peru expressed optimism about the country’s economy during her Independence Day speech to Congress. Despite facing allegations of corruption and abuse of power, she projected higher-than-expected economic growth and announced plans to formally call for elections scheduled for 2026 by next April. Boluarte succeeded Pedro Castillo in late 2022 after his
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