Today: September 24, 2024
Today: September 24, 2024

Finance

Asia|Australia|Economy|Finance|Stock Markets

Stock market today: Asian shares dive after a wipeout on Wall Street as Big Tech skids

Asian shares have dropped morning trading, with Tokyo’s benchmark losing more than 1,000 points at one point and closing 3.3% lower, as pessimism set in over Wall Street's overnight nose-dive

Stock market today: Asian shares dive after a wipeout on Wall Street as Big Tech skids
Economy|Finance|Stock Markets|Technology

S&P and Nasdaq close at multi-week lows as Tesla, Alphabet weigh heavily

The S&P 500 and Nasdaq ended at multi-week lows on Wednesday, with the S&P snapping one of its longest streaks without a daily decline of more than 2%, as lackluster

S&P and Nasdaq close at multi-week lows as Tesla, Alphabet weigh heavily
Economy|Finance

Bank of Canada cuts rates, sees weaker economy in 2024

The Bank of Canada on Wednesday trimmed its key interest rate by 25 basis points for the second month in a row, bringing it to 4.5%, and said

Bank of Canada cuts rates, sees weaker economy in 2024
Business|Economy|Finance

US refiners' Q2 profits fall on low margins, soft fuel demand

U.S. oil refiners are expected to report sharply lower second quarter earnings from a year ago after a listless summer driving season that weakened refining margins,

US refiners' Q2 profits fall on low margins, soft fuel demand
Economy|Finance

BOJ to weigh rate hike next week, detail plan to halve bond buying, sources say

The Bank of Japan is likely to debate whether to raise interest rates when it meets next week and unveil a plan to roughly halve bond purchases in

BOJ to weigh rate hike next week, detail plan to halve bond buying, sources say
Economy|Finance

Some members on Japan panel urge BOJ to raise rates to counter weak yen

The Bank of Japan must raise interest rates to prevent excessive declines in the yen, private-sector members of a key government council said at a meeting last week where Governor

Some members on Japan panel urge BOJ to raise rates to counter weak yen
Economy|Europe|Finance

EU countries look to extend freeze on Russian assets to secure G7 loan to Ukraine

European Union member states discussed options for extending the renewal period of sanctions on Russian central bank assets to secure a major

EU countries look to extend freeze on Russian assets to secure G7 loan to Ukraine
Business|Europe|Finance|Stock Markets

LVMH shares drop after missing second-quarter estimates

Shares in LVMH fell as much as 6.5% in early Wednesday trade and were on track for their biggest one-day drop since October 2023 after second-

LVMH shares drop after missing second-quarter estimates
Business|Economy|Finance

BNP Paribas' retail weakness takes shine off equity trading boost

France's BNP Paribas exceeded expectations with a big jump in earnings on Wednesday thanks to a boost in equities trading, although a sharp drop in net interest

BNP Paribas' retail weakness takes shine off equity trading boost
Business|Europe|Finance|Technology

UniCredit buys digital bank and cloud IT platform in Aion-Vodeno deal

UniCredit on Wednesday said it was investing 370 million euros ($401 million) to acquire Belgium's digital bank Aion and Vodeno, a provider of cloud-based banking services.

UniCredit buys digital bank and cloud IT platform in Aion-Vodeno deal
Business|Economy|Europe|Finance

Deutsche Bank's profit streak ends with big lawsuit provision

Deutsche Bank posted its first loss in four years in the second quarter after setting aside 1.3 billion euros ($1.41 billion) as a provision for

Deutsche Bank's profit streak ends with big lawsuit provision
Asia|Business|Finance|Technology

Who is Kim Beom-su, founder of South Korean tech giant Kakao?

South Korean authorities arrested Kim Beom-su, the billionaire founder of tech giant Kakao Corp, on Tuesday on accusations of stock manipulation during the acquisition of a K-Pop

Who is Kim Beom-su, founder of South Korean tech giant Kakao?
Business|Economy|Europe|Finance

Lacklustre earnings keep investors jittery

A look at the day ahead in European and global markets from Ankur Banerjee A sales miss by luxury giant LVMH due to Chinese shoppers keeping a lid on spending and disappointing results from major U.S.

Lacklustre earnings keep investors jittery
Asia|Economy|Finance|Technology

China's quant funds suffer deep losses amid crackdown

Chinese computer-driven "quant" hedge funds suffered heavy losses in the first half of the year, underperforming traditional stocks strategies at home and other

China's quant funds suffer deep losses amid crackdown
Asia|Economy|Finance|Stock Markets|Technology

Stocks dragged down by megacap tech, oil edges higher

Stocks sagged worldwide on Wednesday as earnings from Tesla and European luxury brands disappointed, while oil prices edged higher after

Stocks dragged down by megacap tech, oil edges higher
Economy|Finance

Singapore's GIC posts weakest investment gains in four years

Singapore sovereign wealth fund GIC's main gauge of investment return posted its weakest growth in four years, and said high interest rates,

Singapore's GIC posts weakest investment gains in four years
Economy|Finance

Dollar falls, short yen trades squared ahead of BOJ and Fed meetings

The dollar fell to its lowest in more than two months against the yen on Wednesday as short-yen carry trades were unwound ahead of next week's

Dollar falls, short yen trades squared ahead of BOJ and Fed meetings
Americas|Business|Economy|Finance

LATAM Airlines readies NYSE listing at $8.5 billion potential valuation

LATAM Airlines is preparing to list its shares on the New York Stock Exchange in a move that could fetch it a valuation of $8.5 billion, the company said on Thursday.

LATAM Airlines readies NYSE listing at $8.5 billion potential valuation
Business|Finance

Proxy advisor Glass Lewis advises Enhabit investors to elect three AREX nominees

Proxy advisory firm Glass Lewis said on Thursday Enhabit shareholders should elect three AREX Capital Management director candidates to the nine-member board.

Proxy advisor Glass Lewis advises Enhabit investors to elect three AREX nominees
Economy|Europe|Finance

ECB hawks open to September rate cut if data supports it, sources say

Even some of the European Central Bank's more hawkish policymakers are open to an interest rate cut in September, provided incoming data confirm that disinflation is continuing,

ECB hawks open to September rate cut if data supports it, sources say
Economy|Finance|Technology

Argentina looks to tame crypto market as money-laundering fears draw scrutiny

A new law could help Argentina regulate its booming cryptocurrency market as the country aims to reduce risks such as money-laundering associated with the digital assets,

Argentina looks to tame crypto market as money-laundering fears draw scrutiny
Business|Finance|Stock Markets

Insurance broker TWFG's shares rise nearly 30% in market debut

Insurance broker TWFG's shares gained nearly 30% in their Nasdaq debut on Thursday, signaling strong investor demand for new stocks as the U.S. initial public offering market aims for a

Insurance broker TWFG's shares rise nearly 30% in market debut
Economy|Finance

Key U.S. mortgage rate drops to lowest since March, Freddie Mac says

The average interest rate on the popular U.S. 30-year fixed-rate mortgage fell to its lowest level since mid-March this week, a welcome development for a housing

Key U.S. mortgage rate drops to lowest since March, Freddie Mac says
Economy|Finance

Foreign US Treasury holdings rise, Japan's stockpile shrinks

Foreign holdings of U.S.

Foreign US Treasury holdings rise, Japan's stockpile shrinks
Business|Economy|Finance

China's stubborn savers ignore inducements to spend as growth slows

Chinese consumer spending has failed to respond to government measures even though household deposits are slowing and banks have slashed interest rates, a sign risk-

China's stubborn savers ignore inducements to spend as growth slows

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