India hosting the G20 summit The G20 summit will be held in New Delhi on 9th and 10th September 2023. This is the first time that India has hosted such a prestigious event, which brings together the leaders of the world’s 20 major economies with the exception of Russia. IndiaRead More →
The UK superfund plan is a new initiative launched by the Prime Minister and the Technology Secretary on 6 March 2023, with the aim of making the UK a global science and technology superpower by 2030. The plan outlines key actions that will involve every part of the government GovernmentRead More →
Chip design firm Arm on 5th September 2023 submitted an updated filing for its upcoming initial public offering on the New York Stock Exchange, setting a price range between $47 and $51. Only 9.4% of Arm’s shares will be freely traded on the NYSE. Arm was previously listed in LondonRead More →
With second-quarter earnings season now largely behind the U.S. market, stock investors have been focusing on the latest economic data and for the most part been reacting positively to bad economic news, or any data that may point to an economic slowdown. It’s been almost nine months since the trendRead More →
The creator of Photoshop and InDesign launched a generative AI tool called ‘firefly’, which has recently gained traction. It is quite possible that Adobe has one of the best AI generative tools available and it’s worth checking it out as a stock to *invest in. Firefly enables users to editRead More →
The digital pound is a proposed new form of money that would be issued by the Bank of England and backed by the government. It would be similar to a digital banknote, enabling you to use it in-store or online to make payments. It would not be intended to replaceRead More →
The Nationwide Building Society says house prices are 5.3% lower compared to August last year, in the biggest annual decline since 2009. Nationwide said the drop represented a fall of £14,600 on a typical home in the UK since house prices peaked in August 2022. It also said higher borrowingRead More →
Slow-Growing UK Faces Over £2.6 Trillion Debt Pile £2,600,000,000,000 in debt The amount the UK owes exceeds GDP for first time since 1961. Inflation-linked bonds mean the UK is paying more than its peers. From the financial crisis to Russia’s invasion of Ukraine, the UK has borrowed and spent itsRead More →
The latest U.S. mortgage rates are the highest they have been in decades. The average 30-year fixed-rate mortgage rose to 7.23% in the week ending 25th August 2023, up from 7.09% the week before, according to latest bank reports from U.S. This is the highest level since June 2001, when it wasRead More →
Brief ARM history Arm is a British semiconductor and software design company that is known for its Arm processors, which are widely used in smartphones, tablets, laptops, and other devices. Arm was founded in 1990 as a joint venture between Acorn Computers, Apple Computer, and VLSI Technology. The company wasRead More →
British microchip designing giant Arm has announced that it has filed paperwork to sell its shares in the U.S. The Cambridge-based company, which designs chips for devices from smartphones to game consoles, plans to list on New York’s Nasdaq in September. The highly anticipated IPO in the U.S. comes after UKRead More →
One-year loan rate to 3.45% from 3.55% China’s central bank has cut one of its key interest rates for the second time in three months as the world’s second-largest economy struggles to bounce back from the pandemic. The country’s post-Covid recovery has been hit by a property crisis, falling exportsRead More →
According to the Office for National Statistics (ONS) – Inflation fell to 6.8% in the year to July 2023, down from 7.9% in June. A reduction was anticipated by analysts, and there are signs the cost of living could be easing finally, after figures on Tuesday revealed wages rose 7.8% annuallyRead More →
Wages grew at a record annual pace between April and June 2023, according to new figures from the Office for National Statistics (ONS). Regular pay grew by 7.8%, the highest annual growth rate since comparable records began in 2001.Inflation, which measures the pace at which prices are rising, has easedRead More →
Japan’s economy beats expectations with 6% annualised growth in Q2 Japan’s economy posted its third straight quarterly expansion, latest government data showed 15th August 2023, as robust export growth contributed to an annualised 6% expansion in the second quarter, easily beating market expectations. Economists had reportedly expected the world’s third-largest economy toRead More →
Interest rate pushed to 12% Russia’s central bank has announced a surprise hike in its key lending rate by 3.5%, from 8.5% to 12%, as the country’s economic recovery loses steam amid a resurgence of COVID-19 cases and weak domestic demand. The decision was announced after an emergency meeting ofRead More →
Surprise cut China’s central bank has announced a surprise cut in its key lending rates as the country’s economic recovery loses steam amid as domestic demand remains weak. The PBOC trimmed the interest rate on 401 billion yuan ($55.25 billion) worth of one-year medium-term lending facility (MLF) loans from 2.65%Read More →
U.K. economy beat expectations with 0.2% growth in the second quarter, boosted by household consumption and manufacturing output, the Office for National Statistics said Friday. Economists had expected U.K. GDP to level off in the second quarter, after a surprise increase of 0.1% in the first quarter, as the BankRead More →
Up slightly for the first time in a year U.S. consumer prices rose a mild 0.2% in July, but the rate of inflation rose for the first time in more than in a year in a sign it’s going to take a while to get the cost of living fullyRead More →
Deflation or inflation? China’s consumer price index (CPI) fell by 0.3% in August from a year ago, while the producer price index (PPI) fell by 4.4% last month. This is the first time since February 2021 that the CPI has fallen, and the 10th consecutive month that the PPI has contracted. This indicates that China isRead More →
China’s exports plunge According to latest figures the country’s trade fell more sharply than expected in July 2023, as both global and domestic demand receded amid the pandemic and ongoing tensions with the United States. China’s exports fell by 14.5% in July 2023 from a year ago, the biggest dropRead More →
According to the chancellor Jeremy Hunt, the UK economy is caught in a trap The UK and other advanced economies are facing a low-growth trap that is hard to escape. This means that the potential growth of the economy, which depends on factors such as productivity, innovation, investment, and labour force, isRead More →
UK house prices dropped at their fastest annual pace for 14 years in July 2023, according to Nationwide. The building society said house prices dropped by 3.8%, which is the biggest decline since July 2009. Nationwide said mortgage interest rates remain high, making affordability a difficult for house-buyers. Mortgage costsRead More →
EU Inflation 5.3% July 2023 Euro zone inflation fell in July, and new growth figures showed economic activity picking up in the second quarter of this year, but economists still fear a recession. Headline inflation in the EU was 5.3% in July, according to preliminary data released end of JulyRead More →
In July 2023, Elon Musk rebranded Twitter to X – another step in his master plan to emulate Chinese super app WeChat. Mr Musk has long said that he wants to transform his social media firm, which he bought last year for $44 billion, into a much larger platform. HeRead More →
