Brazil’s President Luiz Inacio Lula da Silva made it clear that he is willing to consider the Finance Minister’s proposals for spending cuts, but he highlighted that any fiscal adjustments should not come at the expense of the poor. Lula emphasized the need to avoid unnecessary spending while facing pressure from investors to reduce expenditures
Revenue
The recent turmoil in Indonesia’s currency and bond markets following a report suggesting that President-elect Prabowo Subianto planned to increase the country’s public debt to 50% of GDP has been clarified by a senior aide. Thomas Djiwandono has emphasized that there are no such plans in place and that Prabowo will adhere to legal limits
Despite facing opposition from large institutional investors, Tesla CEO Elon Musk’s $56 billion pay package was approved by shareholders. This overwhelming show of support from retail investors solidifies Musk’s leadership within the company and reaffirms their confidence in his vision for Tesla’s future. The annual meeting highlighted Tesla’s recent achievements and plans for autonomous vehicles,
In recent years, the financial technology industry has experienced a significant shift towards a more sustainable and grounded approach. As highlighted by industry executives and investors at the Money20/20 event in Amsterdam, there seems to be a consensus that the sector has reached a “bottom.” The days of reckless venture capital investments in startups with
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
Pakistan’s coalition government is gearing up to announce ambitious fiscal targets in the upcoming 2024/2025 budget. The budget, set for July-June, is crucial in strengthening Pakistan’s case for securing a new bailout deal with the International Monetary Fund (IMF). As the economy faces challenges, officials and analysts anticipate significant measures to bridge the revenue-expenditure gap
In the wake of Chanel’s top designer’s departure, the $1.62 trillion luxury goods industry is experiencing significant upheaval. This departure has sent ripples not only through Chanel but across all major global players at a time when the industry as a whole is at a crossroads. Traditionally, the playbook for top fashion labels like Chanel,
In a recent announcement, buyout firm Apollo Global Management revealed plans to acquire a 49% equity interest in Intel’s manufacturing facility located in Ireland for a staggering $11 billion. This strategic investment marks a significant move in the semiconductor industry and is expected to have implications for both Intel and Apollo. With the acquisition of
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 response to the economic challenges faced by Russia, the government has recently made adjustments to the mandatory foreign currency sales regulations for exporters. This move comes as part of broader efforts to stabilize the national currency, the rouble, which has been experiencing pressure from capital outflows and limited foreign currency supply. Under the new
The CEO of Swedish fintech startup Trustly, Johan Tjarnberg, recently discussed the company’s decision to delay its initial public offering (IPO) despite a 51% increase in operating profit. Tjarnberg revealed that Trustly intends to wait another year or two before going public to demonstrate the value of its open banking technology to potential investors. He
In recent years, there has been a noticeable shift in the preferences of Chinese travelers, with many opting for domestic destinations over international tourist spots. This change in behavior is reflected in a survey conducted by consulting firm Oliver Wyman, which found that only 14% of high-income households in mainland China, earning at least 30,000
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