China Initiates the First Rate Cut Since April 2020, Bonds Rally
(Bloomberg) China’s 10-year government bond yield fell by two basis points to 2.78% as the central bank cut its interest rate on one-year policy loans by 10 basis points. The…
Consumer Sentiment Edges Lower in January, With Rising Concerns Over Inflation
(University of Michigan) US consumer sentiment fell in early January, with the index down 2.5% to the second-lowest in a decade of 68.8. The fall in consumer sentiment reflected concerns…
JPMorgan’s FY21 Net Profit Hit a Record Amid a 14% Decline in the Fourth Quarter
(JPMorgan) JPMorgan Chase reported a record $48.3 billion net profit in the financial year 2021 on the back of investment banking increase and lower loan losses. In the fourth quarter…
UK Trade in Goods and Services Deficit Widens by £2.8 Billion
(ONS) The UK posted a trade deficit of 9.3 billion pounds in the quarter to November 2021, up by 2.8 billion pounds. The widening deficits in the three months reflected…
Macau Will Allow 6 Casinos, Operation Granted Up to 13 Years by the New Law
(Bloomberg) Macau has come up with a proposed law that will allow a maximum of six casinos to operate for a term of 10 years, redeemable for another 3 years.…
Euro Area and EU Swing Into Trade Deficit in November as Imports Widen
(Eurostat) Euro area posted a trade deficit of 1.5 billion euros in November 2021, the first negative balance since January 2014 and a fall from a surplus of 25 billion…
Meta’s Facebook Faces a $3.2 Billion Fine in Class Action Suit over Market Dominance
(Reuters) Meta’s social media giant Facebook is targeted in a class-action lawsuit in the UK over market dominance that could lead to a fine of up to 2.3 billion pounds…
China’s Trade Surplus Hits a Record $676 Billion in 2021 After a Jump in December
(NBS) China posted a trade surplus of $676.43 billion in 2021, up from $523.99 billion in the prior year and the highest on the series record since 1950. In the…
Nvidia Becoming a Go-To Chip Maker for Chinese EV Makers in Catch up With Tesla
(CNBC) US chip giant Nvidia is riding on new successes in China as top EV startups, including Nio and Xpeng, turn to it for their supplies to rival market leader…
Tesla Starts Accepting DOGE for Eligible Products at its Stores
(Tesla) Tesla has said it will accept Dogecoin payments for certain products at its stores, saying they are not allowing any other crypto. The company says shoppers can purchase the…
Ford Enters the $100 Billion Club as Investors Bet on its EV Prospects
(Bloomberg) Ford Motor Co. shares rose up to 3.84% on Thursday to trade at $25.40 apiece, helping the company to top the $100 billion market capitalization. The new milestone by…
Virgin Galactic’s Announced $500 Million Debt Dents Stock
(Virgin Galactic) Shares of Virgin Galactic plunged more than 15% on Thursday after the company said it eyes $500 million debt. The company will float $425 million convertible senior notes…
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