News

Note: This section contains information in English only.
Wed, 06 Sep 2023 14:30:03 GMT

China develops new chip

A teardown of the Huawei Mate 60 Pro phone done by TechInsights has revealed that the Chinese chipmaker SMIC has created a new advanced processor.

Wed, 06 Sep 2023 14:02:07 GMT

ISM releases US Services PMI

The Institute for Supply Management has just released the United States Services sector Purchasing Managers Index survey results. The market consensus forecast was an index of 52.5 that would show an expansion of the sector. The actual survey result has been revealed to be 54.5. The news caused a surge of the US Dollar due to being better than expected.

Wed, 06 Sep 2023 11:30:05 GMT

US banks hold cash reserves

Moody's rating agency has revealed information that US banks are holding nearly $3.3 trillion in cash reserves for a potential slowdown of the global economy.

Wed, 06 Sep 2023 09:30:03 GMT

Arm aims at $52 billion valuation

SoftBank Group's Arm has revealed that it aims at an initial public offering value of $52 billion.

Wed, 06 Sep 2023 08:30:04 GMT

China subsidizes chip industry

Reuters has revealed that the Chinese government is set out to create a new $40 billion fund that would be aimed at boosting the semiconductor industry.

Wed, 06 Sep 2023 06:30:04 GMT

Goldman Sachs reduces US recession expectations

This week, Goldman Sachs reduced its expectations for a recession in the United States in 2024 from 20% down to 15%.

Tue, 05 Sep 2023 14:30:04 GMT

Chevron begins strike talks

The US energy company Chevron has started talks with its LNG facilities in Australia to avert a potential worker strike.

Tue, 05 Sep 2023 12:30:04 GMT

US Commerce Secretary warns China

The United States Commerce Secretary Gina Raimondo has recently stated that China should create a fair and predictable playing field for US businesses so that stable commercial relationships could be created.

Tue, 05 Sep 2023 10:30:05 GMT

Renault CEO comments on competition

The Chief Executive Officer of Renault Luca de Meo has revealed that Chinese firms have become more competitive in the electric vehicle segment and European firms should catch up.

Tue, 05 Sep 2023 08:30:04 GMT

Ryanair hits new record

In August, Ryanair passenger traffic had reached a new record high, as it has increased by 12%, compared to August of 2022.

Tue, 05 Sep 2023 06:30:05 GMT

Tesla extends delivery times in China

Tesla has announced that it would extend the delivery time for Model Y Long Range in China to 6-8 weeks.

Mon, 04 Sep 2023 14:30:04 GMT

US subsidizes auto makers

The Biden administration has announced that it would offer $12 billion in grants and loans to car producers that would upgrade their plants to manufacture electric vehicles.

Mon, 04 Sep 2023 12:30:03 GMT

RBA is expected to hold rates unchanged

Reuters poll results have revealed that the markets expect the Reserve Bank of Australia to keep its base interest rate at 4.10%.

Mon, 04 Sep 2023 09:30:04 GMT

BYD increases sales

The Chinese electric vehicle maker BYD has revealed that the company has sold 1,792,184 vehicles during the period from January up to August, which is a 82.2% year-on-year increase.

Mon, 04 Sep 2023 06:30:06 GMT

Chinese banks cut Yuan interest rates

Reuters has reported that various Chinese banks have reduced interest rates for Yuan deposits.

Fri, 01 Sep 2023 14:30:03 GMT

US limits chip exports to Middle East

The United States have limited AI chip exports from NVidia and AMD to Middle East countries.

Fri, 01 Sep 2023 12:34:07 GMT

United States publish monthly employment data

The US Bureau of Labor Statistics has published the monthly updated data for Average Hourly Earnings, Non-farm Employment Change and Unemployment Rate. In general, the data was mixed. The US Dollar reacted to the news with an initial decline of more than 0.30%

Fri, 01 Sep 2023 12:30:05 GMT

Visa and MasterCard increase fees

The Wall Street Journal has reported that payment processors MasterCard and Visa are planning to hike merchant fees.

Fri, 01 Sep 2023 10:30:04 GMT

Chinese exporters adapt to restrictions

Reuters has reported that Chinese export firms have used complicated currency swap strategies to avoid conversion of US Dollar earnings into the Yuan.

Fri, 01 Sep 2023 08:30:04 GMT

Bostic comments on interest rates

The President of the Atlanta Federal Reserve Bank Raphael Bostic has revealed that he is against additional US base interest rate increases. The policymaker has stated that the current tightening would bring inflation to 2.00% in a reasonable time period.

Fri, 01 Sep 2023 06:30:05 GMT

UBS fires employees

The Swiss banking group UBS has announced a plan to reduce $10 billion in costs by firing 3,000 employees just in Switzerland.

Thu, 31 Aug 2023 14:30:04 GMT

Walmart cuts salaries

Reuters has reported that Walmart has asked nearly 16,000 pharmacists in the United States to take pay cuts via a total labour hour reduction.

Thu, 31 Aug 2023 12:32:23 GMT

United States publish PCE Price Index and Unemployment Claims

The US Bureau of Economic Analysis has released the PCE Price Index data and the Department of Labor has published the weekly Unemployment Claims. In theory, the financial markets were set to react to the publications. Although, market reaction was muted.

Thu, 31 Aug 2023 10:30:04 GMT

Bank of Japan signals policy change

The Board Member of the Bank of Japan Naoki Tamura has revealed that after a more than a decade of monetary easing the central bank could change its policy at the start of 2024.

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