Inflation in the euro zone increased from 1.7% to 2% in October 2024, according to latest figures released on Thursday 31st October 2024, exceeding the forecast of 1.9%. weakening case for jumbo rate cut Both core inflation and services inflation reportedly remained the same as the previous month. The marketsRead More →
In October 2024, Germany’s inflation rate rose to 2.4%, as per the preliminary figures from the Federal Statistical Office, Destatis This increase defied the expectations of analysts, who had predicted a 0.1% decrease, thus narrowly preventing Germany from entering a technical recession, defined by two successive quarters of economic decline.Read More →
The U.S. economy experienced another growth spurt, albeit slightly underwhelming, growth period in the third quarter, driven by strong consumer spending that has surpassed slowdown expectations The gross domestic product (GDP), which gauges all goods and services produced from July through September 2024, rose at a 2.8% annualised pace, asRead More →
The euro zone’s economy expanded by 0.4% in the third quarter, according to flash figures released by the European Union’s statistics office (Eurostat) on Wednesday 30th October 2024. Economists had anticipated a growth of 0.2%, following a 0.3% increase in the second quarter. Analysts predict that euro zone growth mayRead More →
Elon Musk, the billionaire entrepreneur and CEO of Tesla and SpaceX, has recently made headlines in the U.S. with his stark predictions about the potential economic fallout if Donald Trump wins the upcoming presidential election. This is unusual, as you are more likely to hear these proposals in a crisis,Read More →
As the autumn chill of November sets in, the market seems to defy the temperature drop with a notable heated uptick in activity. This phenomenon, often referred to as the ‘November Effect’, is a period where investors start to position themselves for end-of-year strategies, leading to increased market volatility andRead More →
Benjamin Disraeli, 1804 – 1881 Benjamin Disraeli was a British statesman, Conservative politician and writer who twice served as Prime Minister of the United Kingdom. One of the most resonant inspirational quotes on bullying, attributed to Benjamin Disraeli: “Courage is fire, and bullying is smoke.” This quote succinctly captures the essential attitude for those confrontingRead More →
Apple has returned to the top five smartphone vendors in China’s market during the third quarter, lifted by the release of the iPhone 16, according to data. Apple’s shipment growth remained steady year-on-year in the Q2, securing the company a second-place rank by market share in Q3. Following Apple, HuaweiRead More →
In September 2024, China’s industrial profits fell at the fastest rate since the pandemic of 2020 began, according to China’s National Bureau of Statistics Following a 17.8% decrease in August 2024, profits in September 2024 plummeted by 27.1% from the previous year, reportedly the most significant drop since the 34.9%Read More →
On Friday 25th October 2024, Russia’s central bank increased its key interest rate by 2% (200 basis points) to 21%, attributing the decision to consumer price increases significantly exceeding its projections and cautioning about persistent high inflation risks in the medium term This rate hike surpasses the 1% (100 basis-point)Read More →
The Nasdaq Composite climbed to an all-time high on Friday 25th October 2024, boosted by BIG tech stocks. The tech-heavy index rose 0.56% to 18,518.61 Tech stocks boosted the market ahead of their upcoming earnings. Nvidia added 0.8%, and shares of Meta Platforms, Amazon and Microsoft were also higher. Some analysts are suggesting it may be time to shortRead More →
On Thursday 24th October 2024, Barclays Bank announced a net profit of £1.6 billion ($2 billion) for the third quarter, surpassing expectations This figure exceeded the anticipated £1.17 billion net profit from analysts and marked a 23% increase from the same quarter in 2023. The revenue for the quarter wasRead More →
As of September 2024, the UK’s national debt stands at £2,685.6 billion, which is approximately 100% of the country’s GDP. This is the highest level of public sector debt since 1961. UK debt and its borrowing As of 2024, the United Kingdom’s national debt has reached a staggering £2,685.6 billion,Read More →
Tesla shares climbed 12% in extended trading after the company’s third-quarter earnings beat Wall Street estimates, following a long slump. However, Tesla’s revenue for that period, up 8% year on year, marginally missed expectations. “Vehicle growth” will hit up to 20%-30% next year, said CEO Elon Musk, thanks to “lower cost vehicles” andRead More →
On Wednesday 23rd October 2024, the U.S. 10-year Treasury yield climbed again as traders considered recent remarks from Federal Reserve officials regarding the direction of interest rate reductions The U.S. 10-year Treasury yield increased by over 0.030% to approximately 4.24%. The benchmark rate peaked at 4.26% during the session, itsRead More →
The Dalai Lama is the spiritual leader of Tibetan Buddhism and has been a prominent advocate for peace and compassion worldwide The current Dalai Lama, Tenzin Gyatso, was born in 1935 and recognised as the 14th Dalai Lama at the age of two. He has written extensively on topics suchRead More →
The International Monetary Fund (IMF) has issued a warning about the potential decline of China’s property market while reducing its growth forecast for the world’s second-largest economy. In a report published Tuesday, The IMF has reduced its growth forecast for China this year to 4.8%, which is 0.2 percentage points belowRead More →
Norway‘s massive world record breaking sovereign wealth fund reported a third-quarter profit of 835 billion Norwegian kroner ($76.3 billion) on Tuesday 22nd October 2024. The fund’s performance was attributed to a stock market surge due to the decline interest rates. The overall return for the quarter stood at 4.4%, whichRead More →
The International Monetary Fund’s leader warned on Thursday 17th October 2024 that the global economy continues to be hindered by high government debt and sluggish growth. MD Kristalina Georgieva praised the efforts of major central banks in controlling inflation but pointed out that such successes were not widespread. Additionally, GeorgievaRead More →
In October 2024, the asking prices for UK homes increased only slightly as the market saw an influx of properties, a survey reportedly revealed on Monday 21st October 2024 This report also indicated that some buyers were holding off on purchases, awaiting details on tax revisions from the new government’sRead More →
China on Monday 21st October 2024 lowered its main benchmark lending rates by 0.25% The People’s Bank of China (PBOC) has announced a reduction in the one-year loan prime rate (LPR) to 3.1% and the five-year LPR to 3.6%. The one-year LPR affects corporate and most household loans in China,Read More →
Gold continues on its path to new highs touching $2740 on 21st October 2024 In 2024, gold experienced a surge of over 35%, reaching new record highs. This increase was propelled by the anticipation of additional Federal Reserve rate reductions following a half-percentage-point cut in September 2024, coupled with persistentRead More →
China’s National Bureau of Statistics announced on Friday that the GDP growth for the third quarter was 4.6% year-on-year, marginally above the 4.5% forecasted by economists. But slightly lower than the second quarter’s year-on-year growth of 4.7%. In terms of quarterly growth, the third quarter experienced a 0.9% increase, whichRead More →
On Thursday 17th October 2024, the ECB announced its third interest rate reduction of 2024, as inflation risks within the European Union diminished more rapidly than anticipated. At its October meeting, the central bank decreased the deposit rate by 0.25%. This decision followed a slowdown in the euro area’s priceRead More →
Amazon Web Services (AWS) has announced the signing of an agreement with Dominion Energy, the utility company of Virginia U.S., to explore the development of a small modular nuclear reactor near Dominion’s existing North Anna nuclear power station. As Amazon’s cloud computing subsidiary, AWS has an ever-growing demand for cleanRead More →
Hatshepsut, the longest-reigning Egyptian female pharaoh, ruled for 20 years in the 15th century BC. “I have raised up what was in ruins. I have restored that which was destroyed,” declared Hatshepsut. The quote regarding Hatshepsut’s appointment comes from inscriptions and was designed to legitimise her rule, often illustrating theRead More →