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In a bold move towards technological advancement, Swedish financial technology company Klarna has reported that a significant majority of its workforce is now utilizing generative artificial intelligence tools as part of their daily tasks. With over 87% of its employees engaging with AI tools such as OpenAI’s ChatGPT and the company’s own internal AI assistant,
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Gold price has witnessed a solid increase, surpassing the $2,320 mark against the US Dollar. The price action reveals a bullish trend as it broke a key descending channel with resistance at $2,315. The bulls were able to push the price above the $2,345 level and the 50-hour simple moving average, reaching as high as
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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
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Recently elected President of Panama, Jose Raul Mulino, has unveiled ambitious plans for the country, signaling a shift towards pro-investment and pro-business policies. His proposals include addressing the impact of climate change on the Panama Canal, boosting tourism through a national railway project, and tackling the country’s debt and fiscal challenges. However, a critical analysis
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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
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The crypto market capitalisation has experienced a 2% increase over the past week, with a significant 13% surge from the lows observed on May 1st. This growth was marked by a bottom formation on Wednesday, followed by a moderate rebound on Thursday and stronger buying activities on Friday. However, the market hit a roadblock over
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Warren Buffett recently made an announcement regarding Berkshire Hathaway’s potential investment in Canada. During an investor meeting in Omaha, Nebraska, Buffett expressed his comfort with putting money into the Canadian market. This statement came as a surprise to many, as Buffett has primarily focused on investing within the United States. Despite this, he mentioned that
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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
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The USD/JPY exchange rate is influenced by a variety of economic factors, with key data releases playing a crucial role in shaping investor sentiment and market expectations. In this article, we will analyze the impact of economic data on the USD/JPY exchange rate and explore how upcoming reports could affect its trajectory. While economists predicted
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