In a bold move to stoke economic vitality, China unveiled an extensive trade-in program in July 2023, earmarking a staggering 300 billion yuan (approximately $41.5 billion) in ultra-long special government bonds. This initiative aims to stimulate domestic consumption by incentivizing upgrades in consumer goods such as automobiles and home appliances, while also targeting essential equipment
Finance
In a time where many financial technology startups are facing challenges and cutting jobs, Dutch challenger bank Bunq is taking a different approach. The bank recently announced plans to grow its global headcount by 70% this year, reaching over 700 employees. This expansion comes as Bunq aims to enter new markets such as the U.K.
The Federal Reserve recently announced significant changes to a proposed set of U.S. banking regulations that will impact the capital requirements for the largest financial institutions in the country. Originally, the regulatory overhaul known as the Basel Endgame aimed to increase capital requirements for the world’s largest banks by approximately 19%. However, following feedback and
JPMorgan Chase shares experienced a 5% decrease following President Daniel Pinto’s announcement at a financial conference regarding the bank’s projections for net interest income (NII) and expenses in 2025. Pinto stated that the 2024 target of approximately $91.5 billion for NII is feasible, but the estimated $90 billion for the next year is “not very
The U.S. Federal Reserve is currently facing a decision on whether to make a jumbo 50 basis point rate cut at its upcoming meeting. This move has sparked a heated debate among analysts and economists, with some believing that it is a necessary step to support job growth and others warning of the potential risks
The U.K. has been facing criticism for its lackluster growth and poor rates of GDP per head when it comes to commercializing technology businesses globally. According to Warren East, former CEO of British chip design firm Arm, there needs to be a mindset shift from the investor community in order for the U.K. to succeed
China reported that its consumer price index rose by 0.6% year on year in August, which fell short of expectations. The costs of transportation, home goods, and rents decreased, contributing to this lower-than-expected growth. Food prices, however, saw a significant increase of 2.8% year on year in August, marking the first positive trend since June
Seven & i Holdings has made a bold move by rejecting the takeover offer from Canadian convenience store operator Alimentation Couche-Tard. The company stated that the offer “is not in the best interest” of its shareholders and stakeholders, showcasing a strong commitment to their vision and plans for the future. Stephen Dacus, chairman of the
In 2024, exchange-traded fund inflows have reached record-breaking numbers, and industry experts believe that the surge in money market fund assets could have a significant impact on ETF inflows by the end of the year. With over $6 trillion parked in money market funds, Nate Geraci, the president of The ETF Store, views this as
China’s former head of the People’s Bank of China, Yi Gang, emphasized the need for policymakers in China to prioritize boosting domestic demand to combat deflationary pressures. This focus is crucial in addressing the challenges faced by the Chinese economy, particularly in relation to the real estate market and local government debt issues. Additionally, increasing