Inflation in the Euro zone decreased to a three-year low of 2.2% in August 2024, according to preliminary data from Eurostat released on Friday 30th August 2024 The core inflation rate, which excludes the volatile elements of energy, food, alcohol, and tobacco, dropped to 2.8% in August from July’s 2.9%,Read More →
On Thursday 29th August 2024, the U.S. AI Safety Institute announced a testing and evaluation agreement with OpenAI and Anthropic This agreement reportedly grants the institute access to significant new AI models from each company before and after their public release. Recently, several AI developers and researchers have voiced concernsRead More →
Warren Buffett’s Berkshire Hathaway achieved a $1 trillion market capitalisation on Wednesday 28th August 2024, becoming the first non-technology company in the U.S. to reach this business accolade. The shares of the conglomerate, headquartered in Omaha, Nebraska, have surged over 28% in 2024, outperforming the S&P 500’s 18% increase. ThisRead More →
Nvidia has announced earnings surpassing Wall Street forecasts and has issued guidance for the current quarter that exceeds expectations. As the artificial intelligence boom continues, Nvidia remains a major beneficiary. Despite a stock price dip, after trading hours, the stock has risen approximately 150% this year. The question remains whetherRead More →
Major technology corporations such as Microsoft, Alphabet, and Meta are channelling billions into data centre infrastructures to bolster generative AI, which is causing a spike in energy demand. Sustainable Metal Cloud has announced that its immersion cooling technology is 28% less expensive to install compared to other liquid-based cooling methodsRead More →
Nvidia investors have been on a rocket ride to the stars. But recently they have come back down to Earth, and it has become more of a roller coaster ride. Benefiting significantly from the artificial intelligence surge, Nvidia’s market cap has increased approximately ninefold since late 2022 – a massive marketRead More →
High Price-to-Earnings (P/E) ratio The P/E ratio of the market is a common measure of valuation. Currently, the P/E ratio is significantly higher than historical averages, indicating that stocks are priced much higher relative to their earnings. Rapid price increases without corresponding earnings growth When stock prices rise rapidly withoutRead More →
The Dow Jones Industrial Average (DJIA) reached a new record high on Monday 26th August 2024, closing at 41240. Investors have responded positively to the Federal Reserve’s recent indications that interest rate cuts are highly probable to commence in September 2024. Market dynamics and sentiment The rise of the DJIARead More →
One of the largest diamonds ever excavated was recently discovered in Botswana at a mine operated by the Canadian company Lucara Diamond The discovery of the 2,492-carat diamond marks the world’s second-largest find, over a century since the unearthing of the 3,106-carat diamond in South Africa in 1905. It wasRead More →
Job growth in the US last year was weaker than previously believed, according to a statement from the Labor Department on Wednesday 21st August 2024. This revelation has intensified the ongoing debate regarding the health of the U.S. economy. The department’s updated figures indicate that there were approximately 818,000 fewerRead More →
Microsoft announced on Wednesday 21st August 2024 that it will release the contentious Recall AI search feature for Windows users to test starting in October Recall captures screenshots of on-screen activity, enabling users to search for previously seen information. Security experts raised immediate concerns about the potential risks of WindowsRead More →
No surprise here then as the Fed have been signalling a cut for some time now The Fed summary stated: “The vast majority” of participants at the July 30-31 meeting “observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policyRead More →
OpenAI has partnered with the global magazine conglomerate Condé Nast to enable ChatGPT and its search engine, SearchGPT, to showcase content from renowned publications such as Vogue, The New Yorker and GQ. The agreement represents the most recent in a series of deals made by OpenAI with prominent media companies.Read More →
Highs and lows of one volatile week in the U.S. stock market U.S. stocks climbed on Monday 19th August 2024, continuing the market’s rebound as investors prepared for the highly anticipated Federal Reserve symposium at Jackson Hole later in the week. The S&P 500 ended the day at 5608 TheRead More →
The U.S. and China recently signed an agreement to cooperate on financial stability. This agreement was part of a meeting of the U.S. – China Financial Working Group held in Shanghai. The discussions were reportedly described as professional, pragmatic, candid, and constructive. The agreement includes measures for both countries toRead More →
Record numbers of people are leaving New Zealand as unemployment increases, interest rates stay elevated, and economic growth remains weak, according to government statistics. Statistics New Zealand’s data released on Tuesday 13th August 2024 indicates that 131,200 individuals left New Zealand in the year ending June 2024, tentatively the highestRead More →
The video game industry is experiencing sluggish growth in 2024 for several reasons Slow console sales Gaming console sales have not met expectations. For example, sales of Sony’s PlayStation 5 have decreased from 3.3 million units in the same period last year to 2.4 million units in the fiscal firstRead More →
Steven Jobs 1955 – 2011 was an American businessman, inventor, and investor best known for co-founding the technology company Apple Inc. See Wikipedia for more informationRead More →
Intel has divested its 1.18 million share stake in the British chip company Arm Holdings, according to a regulatory filing. Intel is undergoing significant restructuring and cost-cutting to address competitive challenges in the semiconductor industry. The recent transaction, disclosed on Tuesday 13th August 2024, is believed to have earned IntelRead More →
UK retail sales up The rise came after a significant drop in sales volumes, which track the amount purchased, in June due to unfavorable weather affecting demand. Last month, department stores and retailers of sports equipment saw an uptick in the volume of goods sold thanks to the Euro footballRead More →
Japanese stocks led gains across Asia on Friday 16th August 2024, poised for their best week in four years, with the Nikkei 225 climbing over 3% following a Wall Street rally. The surge came as new economic data alleviated concerns of a U.S. recession. In the U.S., retail sales sawRead More →
U.S. stocks surged on Thursday, buoyed by investor confidence bolstered by positive consumer and labour data, which alleviated fears of a recession. The Dow Jones Industrial Average soared 554 points to close at 40563 – one year chart The S&P 500 ended up 1.61% at 5,543.22, marking its sixth consecutiveRead More →
In July 2024, U.S. consumer spending exceeded expectations, and inflation pressures continued to ease, as reported by the U.S. Department of Commerce on Thursday 15th August 2024. Retail sales in the U.S. rose by 1% for the month, with advanced figures adjusted for seasonality but not for inflation. This surpassedRead More →
GDP increased by 0.8% quarter-on-quarter, surpassing estimates of a 0.5% increase. This marked a turnaround from the revised decline of 0.6% in the Q1 After the release of the GDP data, Japanese markets climbed, and the yen saw a slight appreciation against the U.S. dollar.Read More →
The U.K. economy grew by 0.6% in the second quarter of 2024, the Office for National Statistics said Thursday 15th August 2024, in line with expectations. The data release follows an expansion of 0.7% in the first quarter of 2024. Economic growth was flat in June, in line with forecasts. TheRead More →
U.S. consumer prices (CPI) increased at the slowest rate in over three years last month, further supporting the argument for the Fed to begin reducing interest rates. According to the U.S. Labor Department, prices climbed 2.9% in the 12 months leading up to July 2024, marking the smallest yearly riseRead More →