economic service provided by the finance industry
F1 News: Audi Signs First Driver for Formula One Entry: Nico Hulkenberg will drive for Stake in 2025, transitioning into Audi F1 team in 2026.
newsweek.com/sports/f1-news-audi-signs-first-driver-formula-one-entry-1894555
NatWest (NWG) Beats Estimates on Signs of Growing Customer Confidence: NatWest Group Plc beat earnings estimates in the first quarter as lending and deposits ...
bloomberg.com/news/articles/2024-04-26/natwest-beats-estimates-on-signs-of-growing-customer-confidence
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China Offers Drivers Up to $1,380 to Trade in Their Old Cars: China will give a one-time subsidy of as much as 10,000 yuan ($1,380) to consumers who trade in ...
bloomberg.com/news/articles/2024-04-26/china-offers-drivers-up-to-1-380-to-trade-in-their-old-cars
No, a Shadowy Figure Is Not Buying Tents for Columbia Student Protesters: Conspiracies about outside forces funding and orchestrating the university protests at ...
wired.com/story/conspiracy-tents-student-protests-gaza/
BNP Paribas Is Said to Plan 50 Job Cuts Across Its UK Unit: BNP Paribas SA is planning to cut as many as 50 roles across its unit in the UK as Chief Executive ...
bloomberg.com/news/articles/2024-04-26/bnp-paribas-is-said-to-plan-50-job-cuts-across-its-uk-unit
Formula 1 | Decision made? Sauber apparently throws Bottas and Zhou out: The Formula 1 driver market is slowly gaining momentum. The rumor mill is getting hotter ...
sport.de/news/ne6598805/formel-1--entscheidung-gefallen-sauber-schmeisst-offenbar-bottas-und-zhou-raus/
Sequoia commits to backing Elon Musk’s xAI start-up: Venture capital firm is among investors that entrepreneur is wooing as he seeks to gain ground on rivals
ft.com/content/fc8355e6-3219-4681-a4da-73feca50cd8a
Quick Glance: Sequoia backs Elon Musk’s xAI venture
- Sequoia Capital, a well-known venture capital firm in Silicon Valley, has committed to supporting Elon Musk's artificial intelligence start-up xAI to help him raise billions and compete with OpenAI, Meta, and Google.
- The exact amount of Sequoia's investment in xAI remains undisclosed.
- Sequoia, an early investor in Google, YouTube, and Apple, has backed several Musk projects in recent years, including The Boring Company and SpaceX.
Elon Musk Thinks You Should Be Able to Watch a Stabbing Video on X: X removes video of a bishop being stabbed in Australia, but pushes back on requests to block ...
pcmag.com/news/elon-musk-thinks-you-should-be-able-to-watch-a-stabbing-video-on-x
OpenAI's Sam Altman, Nvidia's Jensen Huang, and other tech leaders are joining a new federal AI safety board
qz.com/sam-altman-jensen-huang-ai-government-safety-board-1851437593
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Spain's Bankinter takes on Irish banks with deposit move: Bankinter said on Friday it was applying for a full Irish banking licence and entering the deposit ...
reuters.com/business/finance/spains-bankinter-takes-irish-banks-with-deposit-move-2024-04-26/
Nomura Profit Jumps on Fixed-Income Trading, Retail Boom: Nomura Holdings Inc.’s earnings climbed as soaring fixed-income trading and resurgent markets in Japan ...
bloomberg.com/news/articles/2024-04-26/nomura-rebounds-with-first-annual-profit-growth-under-ceo-okuda
Paid articlePaid China’s EV supply chain dominance risks ‘collapse’ of US subsidies, warns South Korea
ft.com/content/7a7ba474-7068-46fc-89da-19d87e83f9d3
Quick Glance: South Korea Warns of Collapse of US Subsidies Due to Chinese EV Supply Chain Dominance
- China’s grip on the EV supply chain threatens US subsidies, warns South Korea.
- South Korea warns that China’s control over a crucial battery material will make it nearly impossible for any electric vehicle makers to qualify for President Joe Biden's subsidy scheme.
- The United States announced last week that they will provide up to $6.4 billion in federal subsidies to the South Korean technology giant Samsung Electronics, investing $40 billion in its Texas facilities for cutting-edge logic chips, advanced packaging, and next-generation chip technology research and development.
LVMH-Backed L Catterton Agrees to Buy Majority Stake in Kiko: Private equity fund L Catterton, which is backed by luxury giant LVMH Moet Hennessy Louis Vuitton ...
trib.al/3253Jnc
HSBC’s Private Bank Shuts IAM Business in HK, Singapore: HSBC Holdings Plc’s private bank has discontinued its independent asset management business in Hong Kong ...
bloomberg.com/news/articles/2024-04-26/hsbc-s-private-bank-shuts-iam-business-in-hk-singapore
Microsoft beats quarterly revenue estimates: Microsoft beat Wall Street estimates for third-quarter revenue on Thursday, driven by gains from AI adoption across ...
reuters.com/technology/microsoft-beats-quarterly-revenue-estimates-2024-04-25/
Hertz Global eyes worst day on record as EV rental business falters: Shares of Hertz Global slumped 24% and were on track for their sharpest one-day percentage ...
reuters.com/business/autos-transportation/hertz-global-eyes-worst-day-record-ev-rental-business-falters-2024-04-25/
Honda to set up $11 bln electric vehicle, battery plants in Canada: Honda Motor plans to invest C$15 billion ($11 billion) in new EV and battery production ...
reuters.com/business/autos-transportation/honda-set-up-11-bln-ev-production-base-canada-2024-04-25/
Quick Glance: Honda to Establish $11 Bln EV, Battery Plants in Canada
- Honda plans to invest C$15 billion in new EV and battery production plants in Ontario alongside existing facilities to support the growth of North American demand for EVs.
- Production is set to start by 2028, with an annual capacity of up to 240,000 EVs and 36 gigawatt-hours for batteries to achieve the goal of having all North American sales from Honda be either EVs or fuel cell vehicles by 2040.
- The Canadian government and Ontario province intend to support Honda with around C$5 billion, with Honda contributing 60%-70% of the total investment to reduce costs by more than 20%.
- Honda will also collaborate with companies like Asahi Kasei and POSCO to further lower production costs and strengthen the EV supply chain in Canada, leading to an increase in jobs and economic growth.
King Charles' funeral plans reportedly being updated regularly after cancer diagnosis: 'He is really very unwell'
nypost.com/2024/04/25/world-news/king-charles-funeral-plans-updated-amid-cancer-battle-report/
Billionaire Pinault CEO Laments Kering Slide as Fortune Dwindles: The billionaire Pinault heir at the helm of Gucci owner Kering SA is unhappy about the fashion ...
bloomberg.com/news/articles/2024-04-25/kering-ceo-pinault-unhappy-with-gucci-owner-s-performance
Quick Glance: Time for Kering’s King to Consider a Step Back
- Francois-Henri Pinault, Chairman and CEO of Kering, should consider bringing in fresh blood and possibly appointing a new CEO.
- In any sector other than luxury, shareholders might have already stepped in to suggest a change at the helm, but at Kering, founding families tightly control the company.
- The board of Kering should apply pressure on the chairman to at least give up the CEO role.
- Pinault should step back into the chairman's job and leave a new Kering chief the independence they will need.
India's Bajaj Finance falls on profit growth concerns: Shares of Bajaj Finance fell the most in 16 months on Friday after the Indian non-bank lender forecast ...
reuters.com/business/finance/indias-bajaj-finance-falls-profit-growth-concerns-2024-04-26/
Swiss National Bank sceptical on holding bitcoin in its currency reserves: The Swiss National Bank remains sceptical about buying bitcoins, Chairman Thomas ...
reuters.com/business/finance/swiss-national-bank-sceptical-bitcoin-its-currency-reserves-2024-04-26/
Capital One's first-quarter profit jumps on interest income boost: Capital One Financial's first-quarter profit rose 35% as customers paid more on the company's ...
reuters.com/business/finance/capital-ones-first-quarter-profit-jumps-interest-income-boost-2024-04-25/
Jefferies CEO bought himself a new yacht with $65 million stock sale: He's buying a Westport 164 from his friend and Jefferies client Tilman Fertitta.
businessinsider.com/jefferies-ceo-sold-millions-shares-stock-bought-new-yacht-fertitta-2024-4
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Boeing now has a ‘negative’ outlook from both Moody’s and S&P Global: S&P sees greater uncertainty regarding Boeing's ability to achieve its estimates ...
qz.com/boeing-credit-ratings-outlook-negative-moodys-sp-1851435363
Quick Glance: Boeing faces revenue decline after 7 quarters with decreasing deliveries
- Boeing experienced a revenue decline in the last quarter, marking the first time in seven quarters as aircraft deliveries decrease.
- The quarterly revenue amounted to $16.57 billion, surpassing the expectations of $16.23 billion.
- Boeing aims to deliver a significant portion of its inventory of 737s and 787s by the end of the year to generate much-needed capital.
- Operating margins at Boeing's defense business improved to 2.2% in the quarter, compared to a negative value of 3.2% a year ago.
South Korea's public finances no longer a credit rating 'strength', Fitch says: South Korea's public finances are no longer a strength for its sovereign credit ...
reuters.com/markets/asia/south-koreas-public-finances-no-longer-credit-rating-strength-fitch-says-2024-04-26/
Liability, partial and fully comprehensive insurance: prices for car insurance are increasing significantly
n-tv.de/ratgeber/Preise-fuer-KFZ-Versicherung-ziehen-deutlich-an-article24900961.html
Tokyo Inflation Slows Sharply on Education Subsidy Impact Before BOJ Meeting: Price growth in Tokyo decelerated sharply to a pace below 2% in April ...
bloomberg.com/news/articles/2024-04-25/tokyo-inflation-slows-sharply-on-education-subsidy-impact
Mexican lawmakers approve new pension fund backed by president: Mexico's Senate approved the creation of a new pension fund on Thursday aimed at boosting payouts ...
reuters.com/world/americas/mexican-lawmakers-approve-new-pension-fund-backed-by-president-2024-04-26/
Quick Glance: New Pension Fund Approved in Mexico
- Mexico's Senate approved the creation of a new pension fund to boost payouts to the lowest-earning recipients.
- The reform aims to ensure pensioners receive a specific percentage of their last monthly salary.
- Critics have raised concerns about potential risks to the savings of some Mexicans, a claim disputed by the government.
- The fund will be initially funded by unclaimed savings held by older workers in inactive accounts with private fund administrators.
Bank of Singapore uncovers misuse of medical benefits; fires some employees: Claims were made by employees for items such as bird’s nest and skincare products ...
channelnewsasia.com/singapore/bos-bank-singapore-ocbc-medical-claims-clinic-thomson-thompson-4294521
UBS Buybacks Are at Risk From Swiss Capital Rules, KBW Says: New bank capital rules recently put forward by Switzerland may crimp UBS Group AG’s ability to carry ...
bloomberg.com/news/articles/2024-04-26/ubs-buybacks-are-at-risk-from-swiss-capital-rules-kbw-says
Glencore seeks investment opportunities in Nigerian mining sector: Mining and trading house Glencore will invest in Nigeria's mining sector if the government ...
reuters.com/markets/commodities/glencore-seeks-investment-opportunities-nigerian-mining-sector-2024-04-26/
Kotak Shares Tumble After Ban on Cards and New Online Clients: Kotak Mahindra Bank Ltd. shares tumbled after it was barred from adding new customers through its ...
bloomberg.com/news/articles/2024-04-25/kotak-shares-tumble-after-ban-on-cards-new-online-clients
Paid articlePaidQuick Glance: RBI restricts Kotak Bank from online customer onboarding, issuing new credit cards
- The RBI directed Kotak Mahindra Bank to halt onboarding new customers through online and mobile banking channels and suspend issuing new credit cards immediately.
- Significant deficiencies and non-compliances in the bank's IT risk management and information security governance for 2022 and 2023 were highlighted by the RBI.
- The bank was found to be materially deficient in operational resilience and was instructed to enhance its IT systems to protect customers and the financial ecosystem.
- Historically, the RBI has enforced similar measures on other banks to ensure regulatory compliance, such as suspending customer onboarding and new credit card issuance.
Confused about AI? Here are the podcasts you need on artificial intelligence: Want to know more about AI? The Forum has a range of podcasts that will help you ...
weforum.org/agenda/2024/04/ai-artificial-intelligence-forum-podcasts/
Foreign states targeting sensitive research at UK universities, MI5 warns: Ministers considering more funding to protect important research sites ...
theguardian.com/technology/2024/apr/26/foreign-states-targeting-sensitive-research-at-uk-universities-mi5-warns
Riester pension: How high the pensions paid out really are: New figures show how small the Riester pensions paid are: not only are they extremely small ...
capital.de/geld-versicherungen/riester-rente--wie-hoch-die-ausgezahlten-renten-wirklich-sind-34656460.html
Japan’s Retail Investors Bought Record Shares as Stocks Plummet: Japan’s retail investors purchased a record amount of domestic stocks last week ...
bloomberg.com/news/articles/2024-04-25/japan-s-retail-investors-bought-record-shares-as-stocks-plummet
Service without a smile: The case of a widow who had to wait 20 years for her late husband’s Public Service pension is a not-so-extreme example of the ...
trinidadexpress.com/opinion/editorials/service-without-a-smile/article_cda4d9f6-0297-11ef-a549-bbd22ad32e80.html
Pakistan c.bank expected to hold rates on Monday ahead of IMF deal, Reuters poll finds
reuters.com/markets/rates-bonds/pakistan-cbank-expected-hold-rates-monday-ahead-imf-deal-reuters-poll-finds-2024-04-26/
Quick Glance: Pakistan central bank set to keep rates steady before IMF deal
- Pakistan's central bank is widely expected to maintain its key interest rate at a record 22% for the seventh consecutive policy meeting as the country awaits approval from the International Monetary Fund (IMF) and engages in discussions for a long-term program.
- The fund's executive board meeting will follow Monday's policy decision to discuss the approval of $1.1 billion in funding for Pakistan, representing the final tranche of a $3 billion standby arrangement with the IMF.
- The median estimate from a Reuters poll of 14 analysts indicates that the State Bank of Pakistan (SBP) will keep rates stable. Some analysts anticipate a rate cut before signing a new program with the IMF in the future.
- Pakistan's Finance Minister has stated that Islamabad will commence talks with the IMF next month and could potentially secure an agreement on the new program by early July. The policy decision will also take into account inflation, tensions in the Middle East, and the Fed's delay in monetary easing.
Mega price targets for Amazon: Should investors take action before the stock goes steep?
boerse-online.de/nachrichten/aktien/mega-kursziele-fuer-amazon-sollten-anleger-zuschlagen-bevor-die-aktie-steil-geht-20356192.html
76ers' Kelly Oubre Jr. crashed Lamborghini following Game 2 loss against Knicks: The incident reportedly occurred around 1:45 a.m. on Tuesday
cbssports.com/nba/news/76ers-kelly-oubre-jr-crashed-lamborghini-following-game-2-loss-against-knicks/
Mining giant BHP proposed a nearly $39 billion takeover of Anglo American, offering a deal that would create the world’s biggest copper miner BHP bids $39 bln for Anglo American as miners chase copper | Reuters
Quick Glance: BHP Proposes Acquisition to Anglo American
- Anglo American receives BHP buyout proposal, reshaping the copper market.
- The proposal involves BHP acquiring Anglo shares, sparking industry transactions.
- Anglo reviews proposals after profit decline, plans demergers to reduce South Africa exposure.
- The potential deal could make BHP the world's largest copper producer with market impacts.
David Pecker Testifies About McDougal and Daniels in Trump Hush-Money Trial: Live Updates
nytimes.com/live/2024/04/25/nyregion/trump-hush-money-trial-news
Quick Glance: Trial Judge Evaluates Trump's Compliance with Gag Order
- Former President Trump is on trial in New York for hush money issues. David Pecker from 'National Enquirer' testified about an agreement to manipulate stories about Trump and his rivals.
- Concerns arose about Trump's violation of the gag order by criticizing court members. Mary McCord explained how the administration of justice can be disrupted by defendants' statements, leading to legal restrictions.
- Despite reluctance to detain a former president, fines may be imposed for attacks on witnesses and judicial families. Threats to security and witness testimonies pose serious challenges to the trial's integrity.
- Judges emphasize the importance of upholding justice by addressing threats and ensuring the safety of those involved in legal proceedings. The credibility of the trial hinges on maintaining a fair and secure environment.
India’s difficult business environment is improving : The changes are allowing Indian firms to become more dynamic
economist.com/special-report/2024/04/22/indias-difficult-business-environment-is-improving
What is moratorium period in health insurance? | Mint: Moratorium period is also referred to as the look-back period in insurance. This is a safeguard clause ...
livemint.com/money/personal-finance/what-is-moratorium-period-in-health-insurance-11713941940251.html
Amundi's Q1 inflows beat expectations on Asian JV contribution: Amundi , Europe's biggest fund manager, posted better-than-expected first-quarter inflows on ...
reuters.com/business/finance/amundis-q1-inflows-beat-expectations-asian-jv-contribution-2024-04-26/
For Kings (and Lakers, Clippers), home is where the playoff action is: As the Kings head back to L.A. after exhilarating Game 2 OT win, they'll find Crypto ...
latimes.com/sports/hockey/kings/story/2024-04-25/kings-edmonton-oilers-game-2-crypto-arena-nba-nhl-playoffs
As demand for US LNG booms, one plant struggles to stay online: The second-largest U.S. liquefied natural gas (LNG) export facility has been running below 80% of ...
reuters.com/business/energy/demand-us-lng-booms-one-plant-struggles-stay-online-2024-04-25/
Long-awaited $2 billion CVC debut shows the IPO market is back on track, Euronext boss says
cnbc.com/2024/04/26/euronext-boss-says-long-awaited-cvc-debut-shows-the-ipo-market-is-back.html
Deutsche Bank first-quarter profit jumps 10% as investment bank outperforms: Deutsche Bank posted on Thursday a better-than-expected 10% increase in ...
reuters.com/business/finance/deutsche-bank-posts-better-than-expected-10-rise-q1-net-profit-2024-04-25/
Quick Glance: Deutsche Bank Increases Quarterly Profit by 10 Percent
- Deutsche Bank surpasses expectations in the first quarter of 2024 with a profit of 2 billion euros before taxes and 1.5 billion euros after taxes.
- CEO Christian Sewing expresses satisfaction, citing the best results since 2013, emphasizing discipline in meeting cost targets, and the strong capital base.
- Revenue in investment banking increases significantly, particularly through trading in bonds, currencies, and large loans.
- Deutsche Bank invests in buying back its own shares, raises dividends, and plans job cuts to keep costs below 20 billion euros.
The Fallout 4 Upgrade Isn't Free For Owners On PS Plus And They're Furious [Update: Bethesda Is Fixing It]
kotaku.com/fallout-4-ps5-upgrade-free-ps-plus-game-pass-1851435453
Goldman and Citadel Securities back Howard Lutnick’s renewed tilt on futures market
ft.com/content/8b6a724f-07ab-4592-905f-b6eca6bdc974
Elon Musk's SpaceX could spinoff Starlink in a big IPO this year, investment adviser says
qz.com/elon-musk-spacex-starlink-spinoff-ipo-investment-advise-1851433211
Cigna to offer Humira rivals with $0 copay at specialty pharmacy: Cigna plans to make close copies of AbbVie's blockbuster arthritis drug Humira available with ...
reuters.com/business/healthcare-pharmaceuticals/cigna-offer-humira-rivals-with-0-copay-specialty-pharmacy-2024-04-25/
UBS Analyst Who Cut Evergrande Turns Bullish on Chinese Property Market: When it comes to Chinese real estate, John Lam is a lone wolf.
bloomberg.com/news/articles/2024-04-25/ubs-analyst-who-cut-evergrande-turns-bullish-on-property
First Citizens beats profit estimates, says SVB business stabilized: First Citizens BancShares' first-quarter profit beat expectations as the lender earned ...
reuters.com/markets/us/svb-owner-first-citizens-profit-beats-estimates-interest-income-strength-2024-04-25/
Explainer: Charting the Fed's economic data flow: The U.S. Federal Reserve held its benchmark overnight interest rate steady in the 5.25%-5 ...
reuters.com/markets/us/charting-feds-economic-data-flow-2024-04-05/
Continental Fined €100 Million Over Role in Diesel Emission Scam: Continental AG was fined €100 million ($107 million) for failing to prevent that its staff ...
bloomberg.com/news/articles/2024-04-25/continental-fined-100-million-over-role-in-diesel-emission-scam
Private equity group CVC shares soar on Amsterdam debut: Shares of private equity group CVC Capital Partners gained as much as 25% on their first day of trading ...
reuters.com/markets/deals/cvc-sets-ipo-price-14-euros-per-share-middle-range-2024-04-26/
One of Australia's largest providers of independent accommodation for seniors, Eureka Group, has recently raised the rent by $50 for some residents ... Show more
Eureka Villages increases rents on aged and disability pensioners, despite regulator finding them to be 'unreasonable' - ABC News
ABC News App - ABC News (Australian Broadcasting Corporation) - ABC News
Eureka Villages increases rents on aged and disability pensioners, despite regulator finding them to be 'unreasonable' - ABC News
ABC News App - ABC News (Australian Broadcasting Corporation) - ABC News
BNP Paribas’s Fixed Income Traders Trail for Fourth Straight Quarter: BNP Paribas SA posted better-than-expected profit for the first quarter as provisions for ...
bloomberg.com/news/articles/2024-04-25/bnp-s-fixed-income-traders-trail-for-fourth-straight-quarter
Paid articlePaid Bill Gates and Sam Altman invest in nuclear power and you should too, financial adviser says
qz.com/bill-gates-sam-altman-nuclear-power-energy-stocks-1851432722
‘It is our land’: Palestinian children born in refugee camp abroad dream of return
irishtimes.com/politics/2024/04/25/it-is-our-land-palestinian-children-born-in-refugee-camp-abroad-dream-of-return/
DB: Deutsche Bank’s Investment Bankers Step Up as Rate Boost Fades: Deutsche Bank AG relied on its traders and investment bankers to make up for a slowdown in ...
bloomberg.com/news/articles/2024-04-25/deutsche-bank-s-investment-bankers-step-up-as-rate-boost-fades
Paid articlePaid
2024 Mater Heart Run that will cover ten counties launched: Dr. Mary Ngui said the turnout from partners was beyond expectation. She also added that such efforts ...
standardmedia.co.ke/health/health-science/article/2001493899/2024-mater-heart-run-that-will-cover-ten-counties-launched
Barclays (BARC LN): Investment Bank Isn't Keeping Momentum: The UK lender is slower to recover than Deutsche Bank, BNP Paribas and US peers on deals and ...
bloomberg.com/opinion/articles/2024-04-25/barclays-barc-ln-investment-bank-isn-t-keeping-momentum
Big pension increase in the summer but was that it?: Pensions will rise more sharply in July than previously thought. But the increases could shrink ...
fr.de/wirtschaft/grosse-rentenerhoehung-im-sommer-zukunft-rente-inflation-inflationspraemie-rentner-kaufkraft-zr-93032410.html
Nissan, Mazda roll out new models for China as they aim for comeback: Nissan Motor and Mazda Motor unveiled new cars tailored for Chinese drivers on Thursday ...
reuters.com/business/autos-transportation/nissan-unveils-four-concept-cars-fuel-china-comeback-2024-04-25/
Car parts maker Valeo posts lower first-quarter sales on weak EV demand: French car parts maker Valeo posted slightly lower first-quarter sales on Thursday ...
reuters.com/business/autos-transportation/car-parts-maker-valeo-posts-slightly-lower-q1-sales-2024-04-25/
European banks have little to lose from rate cuts: Tighter monetary policy has delivered a giant boost to Europe’s long-suffering lenders ...
reuters.com/breakingviews/european-banks-have-little-lose-rate-cuts-2024-04-25/
Top G20 Ministers Back 2% Wealth Tax for Global Billionaires | Common Dreams: "It is time that the international community gets serious about tackling ...
commondreams.org/news/wealth-tax
Former President Donald Trump’s political operatives are putting together a plan that would give him unprecedented influence over the Federal Reserve ... Show more
Trump advisors are considering plans to dramatically revamp the Fed, WSJ report says
Trump advisors are considering plans to dramatically revamp the Fed, WSJ report says
Tepid economic data weighs on equities; yen sinks to fresh lows: Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook ...
reuters.com/markets/global-markets-wrapup-1-2024-04-25/
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