The U.K. economy has recovered from its ‘technical’ recession, with the gross domestic product (GDP) increasing by 0.6% in the first quarter, surpassing expectations. Official figures released on Friday revealed this growth, which exceeded the 0.4% predicted by economists surveyed by Reuters for the previous quarter. In the latter halfRead More →
UK chip designer Arm’s shares fell on Thursday 9th May 2024, subdued by revenue forecasts despite a strong sales quarter fueled by demand for AI applications. Arm announced a 47% increase in fiscal Q4 revenue to $928 million on Wednesday. This surge was propelled by its licensing business, which sawRead More →
The decision comes as inflation, which measures price rises over a period of time, remains above the Bank’s 2% target at 3.2%. But bank says cuts are coming. Is the 2% target still a sensible benchmark? The 2% inflation target set by central banks has been a widely adopted benchmarkRead More →
Mortgage rates are still going up due to expectations that the Bank of England might not cut borrowing costs as much as expected. Higher-than-expected inflation figures at this point, have led to increased forecasts for UK interest rates, prompting lenders to raise the cost of new mortgage deals. Those considering purchasingRead More →
Tensions between Washington and Beijing have intensified, with the U.S. ramping up trade restrictions and sanctions on China due to national security concerns. Since Ukraine’s invasion, there has been a roughly 12% drop in trade between the blocs, and foreign direct investments have decreased by 20% compared to those withinRead More →
Buy gold bars from South Korea’s convenience stores and vending machines South Korean convenience stores are now the latest attraction for gold enthusiasts. Instead of the typical snacks and beverages, customers can now buy gold bars. Convenience store gold bars GS Retail, one of South Korea’s largest convenience store chains,Read More →
The Home Office eventually resolved a nationwide ‘issue’ that led to significant delays at passport e-gates. UK airports such as Heathrow, Gatwick, Edinburgh, Birmingham, Bristol, Newcastle, and Manchester have all reported delays in arrivals late on Tuesday 7th May 2024 due to a Border Force issue. E-gates, which are automatedRead More →
The FTSE 100 soared past 8300, reaching a new record high amid busy trading as London markets reopened after the bank holiday. A catch-up trading session is evident, with mainland-listed stocks having a robust session on Monday 7th May 2024 and continuing to rise. The FTSE reached around 8335 inRead More →
Apple, renowned for its innovative consumer electronics, is reported to be branching into artificial intelligence (AI). Recent reports suggest the company is developing a project dubbed ‘Project ACDC,’ (Apple Chips in Data Centre) with the goal of creating specialized AI chips for data centres. The AI race AI applications areRead More →
The breach involved a third-party payroll system used by the MoD The compromised system contained names and bank details of both current and past members of the UK armed forces. While the full extent and consequences of the breach are still under investigation, preliminary results reportedly indicate that no data was extracted during the incident.Read More →
Non-farm payrolls rose by 175,000 in the month, falling short of the consensus estimate of 240,000. The unemployment rate increased slightly to 3.9%, contrary to expectations that it would remain at 3.8%. Additionally, a broader measure of unemployment rose to 7.4%, marking the highest rate since November 2021. In lineRead More →
Forecasts indicate that the UK economy will experience sluggish growth among the largest developed nations in 2025. The Organisation for Economic Co-operation and Development (OECD) has projected a 1% increase in the UK’s gross domestic product (GDP) for 2025, which lags behind the growth rates of other G7 nations, includingRead More →
Apple shares rose by 7% in after-hours trading on Thursday 2nd May 2024, following the company’s announcement of fiscal second-quarter earnings that exceeded expectations, coupled with the unveiling of an expanded stock repurchase program. The tech giant disclosed that its board has approved a new $110 billion share buyback plan,Read More →
The world’s joint-largest cargo ship, the MSC Loreto, recently docked at Britain’s biggest and busiest container port. Image 400 metres for just a moment – that’s 4 trips for Usain Bolt up and down 100 metre athletics track or, about 40 double decker buses parked end to end.Read More →
The fragility of U.S. banks: A looming financial crisis or an event unlikely to unfold? Amid escalating interest rates and economic instability, an alarming report has surfaced, suggesting that a considerable number of U.S. banks are on the verge of collapse. This potential looming crisis is attributed to various elementsRead More →
The Fed have deliberated over ‘transitory’ inflation – (they got that wrong). They have teased us about when rates will be cut (still waiting). And now we are told no rate cut but: ‘the next rate move is unlikely to be up!’ Probably better to say and do nothing atRead More →
Peter Sellers 1925 – 1980 Peter Sellers, CBE (1925 – 1980), was a renowned English actor and comedian. He rose to fame with his performances in the BBC Radio comedy series, “The Goon Show.” Later, he become well known world-wide for his movie roles especially as Inspector Clouseau in theRead More →
House prices declined in April 2024, with affordability pressures persisting for potential buyers, as reported by Nationwide. The UK’s largest building society reported a 0.4% decrease in house prices compared to the previous month. The average cost of a home now stands at £261,962, which is 4% lower than inRead More →
Changpeng Zhao (CZ), the founder of Binance, who admitted to money laundering offences in November 2023, received a four-month prison sentence on Tuesday 30th April 2024. U.S. prosecutors had suggested a sentence of 36 months for Zhao. As part of his deal with the Justice Department, the cryptocurrency billionaire resignedRead More →
Amazon’s Q1 earnings and revenue exceeded expectations, emphasised by the expansion of its advertising and cloud computing sectors. The operating income surged over 200% to $15.3 billion in the period, significantly exceeding revenue growth, indicating that the company’s cost-reduction strategies and efficiency improvements are enhancing its financial performance. AWS contributedRead More →
Inflation rates in the euro area remained constant at 2.4% in April 2024, and the economy experienced growth in the first quarter, as indicated by preliminary figures released on Tuesday. Headline inflation at 2.4% aligned with economists’ forecasts, while monthly inflation registered at 0.6%. Core inflation, which excludes energy, food,Read More →
Cryptocurrency Exchange Traded Funds (ETFs) have been issued by three Chinese companies: Bosera Asset Management, China Asset Management and Harvest Global Investments, all on the Hong Kong exchange. These are the first ETFs to be issued in Asia. ETFs enable investors to gain exposure to the price movements of theRead More →
Tesla’s shares surged on Monday 29th April 2024, marking their best performance since March 2021, following the company’s achievement in advancing its driver-assistance technology in China. The stock closed 15% higher, buoyed by investor enthusiasm over Tesla CEO Elon Musk’s visit to China. On Sunday 28th April 2024, Tesla announcedRead More →
Chinese automotive giant BYD has experienced a decline in profits amid a slowdown in electric vehicle (EV) demand and a price war in the largest car market globally. The company reported earnings of $630 million (£502 million) for the first quarter, a drop of over 47% from the previous quarter.Read More →
Intel shares fall after company provides weak forecast for earnings, but disappoints with sales. The stock fell 8% in extended trading. Monthly stock price chart for Intel Corp. March to April 2024 Intel actual versus consensus expectations for the quarter ended in March 2024: Earnings per share: 18 cents vs.Read More →
Borge Brende, the president of the World Economic Forum (WEF), recently issued a stark warning about global debt levels. Speaking at the ‘Special Meeting on Global Collaboration, Growth and Energy for Development‘ in Riyadh, Saudi Arabia, (see WEF website), he highlighted that global debt ratios are approaching levels not seen since the 1820s. TheRead More →