Billionaire hedge-fund manager Bill Ackman offered JPMorgan Chase (JPM) CEO Jamie Dimon a glowing endorsement to run for US president in the 2024 presidential election. “We need an exemplary business, financial, and global leader to manage through what is likely to be a critically important decade for our country in determining our destiny,” Ackman said […]
JCB has announced it is partnering with SumUp to enable over 150m JCB members to utilise their cards across European markets International payment brand JCB has announced a new partnership with global financial technology company SumUp, enabling over 150m JCB cardmembers to utilise JCB cards across its European merchants as part of its 4m strong global network. This […]
Nvidia’s GPUs for AI are all the rage right now, but there’s a lot more to the story. The world has gone crazy over generative artificial intelligence (AI), and we have Nvidia‘s (NVDA -5.68%) financial outlook for the ages to thank for it. Fueled by rising demand for generative AI services like ChatGPT, Nvidia said its quarterly revenue is poised […]
International payments, FX solutions and business lending fintech Ebury plans to strengthen its product offering in LatAm and Brazil Global fintech specialising in international payments, FX solutions and business lending, Ebury, has announced plans to strengthen its proposition in Brazil and Latin America (LatAm). Landing LatAm Ebury says expansion in LatAm is crucial to its global […]
Steep competition in the housing market and low supply are heating up home prices again. Nationally, home prices in March were 0.7% higher than March 2022, S&P CoreLogic Case-Shiller Indices said Tuesday. “The modest increases in home prices we saw a month ago accelerated in March 2023,” said Craig J. Lazzara, managing director at S&P […]
China’s factory activity shrank faster than expected in May on weakening demand, heaping pressure on policymakers to shore up a patchy economic recovery and knocking Asian financial markets lower. The official manufacturing purchasing managers’ index (PMI) fell to a five-month low of 48.8, the National Bureau of Statistics (NBS) said on Wednesday, down from 49.2 […]
As AI mania accelerates into the summer months, a tale of two markets facing investors is becoming more extreme. Last week, the Nasdaq 100 Index (^NDX) — which is comprised of the 100 largest tech stocks on the Nasdaq — jumped over 3% while the Dow Jones Industrial Index (^DJI) languished in the red. That’s […]
Computing giant HP Inc. (HPQ) managed to overcome another steep sales drop in PCs and deliver better-than-expected quarterly earnings on Tuesday. The company saw unit sales under pressure in its PC and printing segments as businesses and consumers continued to closely manage their finances post pandemic. But with HP’s various cost-cutting efforts over the past […]
The Nikkei stock index closed Monday at a fresh 33-year high as news that a U.S. debt ceiling deal has been reached boosted sentiment while a weakening yen lifted export-related issues. The 225-issue Nikkei Stock Average climbed 317.23 points, or 1.03 percent, from Friday to 31,233.54, its highest finish since July 26, 1990, when Japan […]
Oil prices rose on Monday after U.S. leaders reached a tentative debt ceiling deal, possibly averting a default in the world’s largest economy and oil consumer, although concerns about further interest rate hikes capped gains. Brent crude futures climbed 66 cents, or 0.9%, to $77.61 a barrel by 0247 GMT, while U.S. West Texas Intermediate […]
A gauge of Chinese shares traded in Hong Kong inched closer to a bear market as a wobbling economic recovery, intensifying geopolitical tensions and a weaker yuan kept investors away. The Hang Seng China Enterprises Index slumped 1.3% on Monday, taking its losses from a Jan. 27 peak to a whisker away from reaching 20%. […]
Analysts are broadly optimistic that the deal to raise the U.S. debt ceiling will pass a divided Congress. Their comments come after U.S. President Joe Biden and House Speaker Kevin McCarthy reached an agreement over the weekend to raise the debt ceiling to avoid a first-ever government default. In the midst of this turmoil, investors […]
