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Finance Tech, Trading

Gold (XAU/USD) Nudges Higher in Early Trade, Resistance Levels Near

February 19, 2024

Via: DailyFX

US equity and bond markets are closed for the day – US Presidents’ Day holiday – and this will weigh on market activity across a range of asset classes. Activity over the rest of the week should pick up with […]


Financial Services, Industries

MBNA unveils first ever savings product offering 5% return on cash – is it any good?

February 16, 2024

Via: MoneyWeek

Lloyds Bank owned MBNA has stepped foot in the savings space for the first time today (16 February) with the launch of a one-year fixed-term account. MBNA, traditionally known for its credit card offering was acquired by Lloyds in 2016, […]


News

Chinese EV Maker BYD Exploring Mexico Factory as Entry to U.S. Market

February 15, 2024

Via: The Wall Street Journal

Chinese automaker BYD has set its sights on Mexico as its quest for global expansion turns toward North America. The Shenzhen-based car company, whose rapid growth has made it one of the world’s largest electric-vehicle sellers, is scouting locations in […]


Finance Tech, Mobile Banking & Payments

Global Payments may pare operations

February 15, 2024

Via: Payments Dive

Global Payments has attracted headlines this week over potential acquisitions it might make, but in an earnings call with analysts CEO Cameron Bready was more ready to talk about parts of the company that might be pared. In addressing “potential […]


News

Deflation: Here’s where prices fell in January 2024, in one chart

February 14, 2024

Via: CNBC

Inflation has pulled back significantly from its pandemic-era peak. In fact, some categories have fallen into outright deflation, meaning consumers are seeing the prices decline instead of rise. Deflation has largely occurred among physical goods rather than services, economists said. […]


Energy, Industries

Earnings call: Eversource Energy divests offshore wind interests

February 14, 2024

Via: Investing.com

Eversource Energy (ES) has announced its exit from the offshore wind business, selling its 50% stake in two projects for $1.1 billion amid industry challenges. Despite a reported loss of $1.26 per share in 2023, mainly due to a $5.58 […]


Finance Tech, Liquidity

Oil prices fall on sticky inflation, bigger-than-expected US crude stock build

February 13, 2024

Via: Investing.com

Oil prices fell in early Asian trade on Wednesday after a U.S. industry group reported crude stocks rose more than expected last week and as investors reined in expectations for interest rate cuts by the U.S. Federal Reserve. Brent futures […]


News

Gold Price, Nasdaq 100, EUR/USD – What Comes Next After US CPI Data?

February 13, 2024

Via: DailyFX

Gold prices (XAU/USD) plunged and reached their weakest point in two months on Tuesday after higher-than-anticipated U.S. CPI data sparked a hawkish repricing of Fed interest rate expectations, boosting U.S. Treasury yields and the U.S. dollar across the board. With […]


News

Consumers await key inflation data as hopes for ‘soft landing’ linger

February 12, 2024

Via: NBC News

Elevated inflation continues to pervade the U.S. economy. And while the pace of 12-month price increases has slowed from the near-double-digit highs reached in the summer of 2022, American consumers are still encountering higher prices compared with before the pandemic. […]


Finance Tech, Liquidity

Oil prices tread water ahead of CPI data, OPEC report

February 12, 2024

Via: Investing.com

Oil prices moved little in Asian trade on Tuesday as traders turned cautious ahead of key U.S. inflation data that is expected to factor into the path of interest rates, while an OPEC monthly report was also in focus. Prices […]


Financial Services, Industries

Western Union, Euronet lean into digital growth

February 9, 2024

Via: Payments Dive

Cross-border payments player Western Union and rival Euronet Worldwide are both increasingly counting on their faster-growing digital services to fuel the expansion of their businesses. The money transfer companies earn revenue from providing services that let consumers send money domestically […]


Capital, Finance Tech

Tesco Bank sold to Barclays in deal worth up to £1bn

February 9, 2024

Via: Sky News

The UK’s largest retailer, which had been in discussions with other major lenders including HSBC and Lloyds over a deal, said all 2,800 staff at Tesco Bank would transfer to Barclays under the agreement over time. The sale only includes […]


News

Societe Generale posts sharp profit drop as net banking income slides

February 8, 2024

Via: CNBC

Societe Generale on Thursday reported a sharp decline in fourth-quarter net profit on the back of weaker net banking income, but launched a new 280 million euro ($302 million) share buyback program. The French lender posted group net income of […]


Finance Tech, Liquidity

Oil Attempts Recovery with Key Level in Sight

February 8, 2024

Via: DailyFX

The Energy Information Agency (EIA) reported another storage drawdown in Cushing Oklahoma but the latest drop was minor. Nevertheless, it extends the run of drawdowns to 5 successive prints but has struggled to meaningfully propel oil prices higher. Drawdowns imply […]


Capital, Finance Tech

Santander goes to war over Nationwide attack on high street banks

February 8, 2024

Via: Sky News

Sky News has learnt that the Spanish-owned lender has told the Advertising Standards Authority (ASA) that the Nationwide television commercial – featuring the actor Dominic West as an arrogant bank boss – is misleading about its rivals’ approach to closing […]


Finance Tech, Trading

S&P 500: Why US Stocks May Not Feel the Love in February

February 7, 2024

Via: DailyFX

The quiet period after the festive Christmas period has, according to data going back to 2007, witnessed very modest returns for the S&P 500. In fact, over the same time horizon, it represents the third worst month for the index. […]


Energy, Industries

World’s largest offshore wind developer cuts back production targets as costs mount

February 7, 2024

Via: Sky News

Orsted, the company developing the Norfolk coast windfarm, Hornsea 3, also suspended shareholder payments in an effort to strengthen its balance sheet. In common with the industry more broadly, Orsted has been hit by high inflation, raised interest rates, project […]


News

China Stocks Notch Best Day in Years on Beijing Action

February 6, 2024

Via: The Wall Street Journal

Chinese shares notched their best day in years after Beijing signaled its intent to prop up the battered equities market, including by directing a trillion-dollar sovereign-wealth fund to boost holdings. The benchmark Shanghai Composite Index gained 3.2% Tuesday, snapping a […]


Finance Tech, Trading

Earnings call: Infineon revises revenue forecast amid market challenges

February 6, 2024

Via: Investing.com

Infineon (OTC:IFNNY) Technologies AG (IFX) has reported a decline in revenues and adjusted its forecast for the fiscal year 2024, citing a challenging market environment and inventory adjustments. During its recent earnings call, the semiconductor manufacturer detailed a quarter-over-quarter revenue […]


Finance Tech, Trading

European shares ease as dashed rate-cut hopes push yields higher

February 5, 2024

Via: Investing.com

European shares closed lower on Monday, as government bond yields across the continent jumped on lower expectations about imminent interest rate cuts by major central banks, eclipsing gains brought by some upbeat corporate reports. The pan-European STOXX 600 index ended […]