Category: News
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Stocks Rally Stalls as Consumer Sentiment Hit: Markets Wrap
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(Bloomberg) — U.S. stocks fell after consumer confidence unexpectedly fell to a three-year low, while bonds came under pressure ahead of a Treasury auction on Tuesday. Most Read from Bloomberg The S&P 500 fell 0.2% — the benchmark stock index had a record close in the previous session. The Nasdaq…
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Trump Media shares crash to record low even as new polls gives ex-president’s campaign a boost
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Donald Trump’s political fortunes are beginning to diverge from his financial fortunes. Shares of the former president’s social media company fell to an all-time low on Monday, even as the latest polls suggested he gain ground In a few key states in the Sun Belt of the country. Until recently,…
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Net external borrowing to halve to Sh167bn in next financial year
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Kenya’s net external borrowing in the next fiscal year (2025-26) is expected to more than halve to Sh166.7 billion, from Sh355.5 billion in the current year, thanks to a sharp increase in repayments of original debt that will have to be rolled over using new borrowing. Financial forecasts published by…
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Secrets of Success’: Jennifer Davidson, founder, Sleek
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We sit down with Jennifer Davidson, founder of Sleek, a leading London-based marketing agency with a global client base. Known for delivering captivating, immersive events that challenge convention and inspire change, Davidson talks about the journey behind Sleek’s launch and discusses the agency’s core mission to create meaningful connections through…
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Secrets of Success’: Jennifer Davidson, founder, Sleek
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We sit down with Jennifer Davidson, founder of Sleek, a leading London-based marketing agency with a global client base. Known for delivering captivating, immersive events that challenge convention and inspire change, Davidson talks about the journey behind Sleek’s launch and discusses the agency’s core mission to create meaningful connections through…
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Israelis’ long-term savings up 10% in 2023
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The public’s long-term retirement and savings assets rose by about 10% last year, reaching NIS 2.5 trillion, according to the comprehensive report published by the Capital Markets, Insurance and Savings Authority, headed by Amit Gal, for 2023. Last year was a turbulent one for Israelis and the Israeli economy, but…
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BOJ chief signals no rush to raise rates further By Reuters
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Written by Laika Kihara OSAKA (Reuters) – Bank of Japan Governor Kazuo Ueda said on Tuesday the bank can take time to examine market and external economic developments when setting monetary policy, suggesting the central bank is in no rush to raise interest rates further. Ueda reiterated that the Bank…
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China Unleashes Stimulus Package to Revive Economy, Markets
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BEIJING, Feb. 11 (Xinhua) — China’s central bank has unveiled a broad package of monetary stimulus measures to revive the world’s second-largest economy, underscoring growing concern within Xi Jinping’s government over slowing growth and falling investor confidence. Most Read from Bloomberg People’s Bank of China Governor Pan Gongsheng cut the…
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China Unleashes Stimulus Package to Revive Economy, Markets
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BEIJING, Feb. 11 (Xinhua) — China’s central bank has unveiled a broad package of monetary stimulus measures to revive the world’s second-largest economy, underscoring growing concern within Xi Jinping’s government over slowing growth and falling investor confidence. Most Read from Bloomberg People’s Bank of China Governor Pan Gongsheng cut the…
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Elon Musk loses legal fight with ex-Twitter employee
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Elon Musk has lost a legal battle over unpaid severance pay for a former Twitter employee who was laid off when he took over the social media platform in 2022, according to a memo obtained by Bloomberg News. The resolution of the dispute, which was handled through arbitration, comes nearly…
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Regulator stopped from fixing car insurance prices
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The Court of Appeal has barred the Insurance Regulatory Authority from setting minimum premium rates for motor vehicle insurance, saving customers the cost of doubling their underwriting fees. The Court of Appeal found that the Individual Retirement Administration’s 2009 auto insurance guidelines, which set the minimum premium at seven per…
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Starmer promises ‘light at the end of the tunnel’ despite looming tax rises
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Prime Minister Sir Keir Starmer is set to reassure the nation that there is “light at the end of this tunnel”, urging the public to put up with short-term financial hardship in exchange for long-term prosperity. In his first speech to the Labour Party conference since taking office, Johnson will…
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Singapore opens its first ministerial graft trial in nearly half a century
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Breadcrumbs Path Links BMW PMN Business Article author: Published on September 23, 2024 • Read for 2 minutes You can save this article by registering for free here. Or log in if you have an account. File – Singapore’s Second Minister for Home Affairs and Trade and Industry S. Iswaran…
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Bank of Israel sounds skeptical about abolishing NIS 200 bill
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Following the Globes report of the proposal to abolish the 200-shekel note, and the prime minister’s announcement that a discussion on the issue was needed, the Bank of Israel issued its first public, somewhat skeptical, comment. The bank said it would “present its professional position on such a move, if…
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China central bank will cut banks’ reserve requirement ratio by 50 bps By Reuters
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Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some or all of your investment amount, and may not be suitable for all investors. Cryptocurrency prices are highly volatile and may be affected by external factors such as financial, regulatory or political events.…
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Why stocks have a lot more room to rally before hitting a peak, according to a technical analyst
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Casper Benson/Getty Images The stock market rally is expected to continue through 2025, according to Ari Wald of Oppenheimer. In a note, Wald highlighted the strong market breadth and healthy indicators across sectors. Key sectors such as industrials, financial services and technology appear to be resilient, Wald added. Stock markets…
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US DOJ to sue Visa over debit card market monopoly, Bloomberg News reports By Reuters
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(Reuters) – The U.S. Justice Department plans to file a lawsuit against Visa Inc., the world’s largest payments network operator, alleging that the company illegally monopolized the country’s debit card market, Bloomberg News reported on Monday. The antitrust division is set to file a lawsuit against Visa in federal court…
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US DOJ to sue Visa over debit card market monopoly, Bloomberg News reports By Reuters
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(Reuters) – The U.S. Justice Department plans to file a lawsuit against Visa Inc., the world’s largest payments network operator, alleging that the company illegally monopolized the country’s debit card market, Bloomberg News reported on Monday. The antitrust division is set to file a lawsuit against Visa in federal court…
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DOJ to accuse Visa of illegally monopolizing US debit card market
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The U.S. Justice Department is planning to charge Visa Inc. with illegally monopolizing the U.S. debit card market, according to people familiar with the matter. The antitrust division is set to file a lawsuit next Tuesday, accusing the operator of the largest U.S. payments network of a range of anticompetitive…
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Ex-Governor Kidero loses bid to stop EACC from probing his bank accounts
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Former Nairobi Governor Evans Kidero has suffered a setback after the Court of Appeal dismissed a case in which he sought to stop the Ethics and Anti-Corruption Commission (EACC) from investigating his bank accounts. Appeal Court judges Daniel Musinga, Asik Makhandia and Sankali Ole Kantai said yesterday that the questions…