On a sunny Sunday morning, tycoon Elon Musk arrived on the beautiful Indonesian island of Bali to kick off the much-anticipated launch of SpaceX’s Starlink internet service. This initiative is seen as a game-changer by the Indonesian government, aiming to improve internet penetration and health services in remote parts of the vast archipelago. Musk’s Arrival
Launch
China recently released economic data that highlighted a mixed bag of results. Retail sales saw a modest increase of 2.3% in April, falling short of the 3.8% forecasted by a Reuters poll. This sluggish growth was a concerning sign for the consumer side of the economy. On the other hand, industrial production surged by 6.7%
The recent survey released by the Federal Reserve Bank of New York showed that Americans are increasingly concerned about inflation. The survey indicated that consumers expect inflation to reach 3.3% a year from now, up from March’s 3%. Additionally, they anticipate inflation to be at 2.8% three years from now. This growing apprehension about rising
The financial world was taken aback when Spanish bank BBVA made a surprising hostile takeover bid for its domestic rival Banco Sabadell. This unexpected move came after BBVA’s initial 12 billion euro takeover offer to Sabadell’s board was rejected due to undervaluation of the bank’s growth prospects. The board of Sabadell had emphasized the superiority
British neobank Monzo recently announced that it has raised an additional $190 million in funding, bringing its total raised this year to $610 million. This funding round saw participation from new investors such as Hedosophia, CapitalG, and Singaporean sovereign wealth fund GIC. The latest funding round values Monzo at around $5.2 billion, surpassing its previous
The decline in the gold price amidst renewed USD demand on Wednesday can be attributed to the hawkish remarks from Federal Reserve (Fed) officials. The potential lack of interest rate cuts in 2024 has led investors to place lower bets, thus contributing to the downward pressure on gold. The upcoming speeches from Fed policymakers, including
The European Union has recently initiated a series of investigations into various Chinese industries in an effort to protect its home-grown manufacturers. These investigations focus on the procurement of medical devices, subsidies for wind turbines, solar panels, and electric vehicles. The European Commission, responsible for carrying out these probes, aims to address unfair competition and
In the world of investing, volatility in the market can be a significant source of concern for investors. To address this issue, a new exchange-traded fund (ETF) has been introduced – the Calamos S&P 500 Structured Alt Protection ETF (CPSM). This ETF promises investors “100% downside protection” against losses in the S&P 500 over a
As the U.S. Treasury Department gears up to announce its refunding plans for the upcoming quarter, investors are eagerly anticipating a sense of relief after several quarters of auction size increases. The expectation is that the Treasury will maintain the size of most of its auctions, with potential increases in specific issues such as the
Chinese electric car startup Nio, known for its premium offerings, is now venturing into the lower-priced segment of the market. In an attempt to compete with Tesla’s Model Y, Nio plans to release a mass-market SUV that is more affordable. This move marks a significant shift from Nio’s initial focus on luxury vehicles costing around
China’s data-driven quant trading funds are rapidly expanding overseas as competition intensifies at home. With regulators tightening scrutiny of the $260 billion sector, firms like Meridian & Saturn Capital (MS Capital) are beginning to offer their China strategy to offshore investors. DH Fund Management recently established its first offshore fund in March, signifying a move
The 2023-24 Canadian budget, presented by Finance Minister Chrystia Freeland, includes a proposal to boost the inclusion rate on capital gains realized annually above $250,000 by individuals and on all capital gains realized by corporations and trusts from one-half to two thirds. This measure aims to increase tax revenue from capital gains and address income