Business News
The dollar fell as lower U.S. Treasury yields, fueled by a spike in jobless claims, hinted at a potential peak in interest rates. Despite the surge in unemployment claims, actual layoffs may not be accelerating due to the Memorial Day holiday. Nevertheless, the data prompted a more than two-week low for the dollar against major …
US Jobless Claims Surge, Dollar Eases; Fed in Focus Read More »
JPMorgan CEO Jamie Dimon to meet moderate House Democrats in closed-door session to discuss banking and the U.S. economy. Dimon’s meeting with the New Democratic Coalition aims to promote pro-growth, innovative, and fiscally responsible policies. Earlier, Dimon dismissed speculations about his political ambitions. Last month, he also met with Senate Majority Leader Chuck Schumer to …
JPMorgan CEO Jamie Dimon to Meet US House Democrats Read More »
Chinese government plans to implement artificial intelligence (AI) regulations, according to Elon Musk. During his recent visit to China, Musk had productive discussions with senior leadership about AI risks and the necessity for oversight. He revealed this information during a Twitter Space session with Robert F. Kennedy Jr., a Democratic presidential candidate. Musk stated that …
Elon Musk: China Set to Implement AI Regulations Read More »
Chinese quant hedge funds embrace AI tools like ChatGPT amid global frenzy following the release of Microsoft-backed OpenAI chatbot. With a challenging investment environment in China’s $3 trillion private fund industry, quants rely on advanced AI for decision-making. Steve Chen, partner at MX Capital, highlights ChatGPT’s ability to analyze complex networks and states that their …
Chinese Quants Ramp Up AI Investments Amid ChatGPT Craze Read More »
Euro zone inflation fell more than expected in May, reaching a 6.1% annual headline rate, the lowest since February 2022. Core inflation, excluding energy and food, also dropped to 5.3%. Germany and France experienced lower-than-forecast inflation, while Spain and Italy also saw easing prices. Despite the announcement, European stocks remained higher and the euro strengthened …
Euro Zone Inflation Drops to 6.1% as Core Pressures Ease Read More »
Foreign investors increased selling of Chinese shares in May due to weak domestic demand and anticipated poor corporate earnings. Refinitiv data reveals that they sold $1.71 billion worth of mainland shares via Stock Connect this month, following a $659 million sell-off in April. This signifies a reversal from their significant January investment of $20.92 billion …
May sees increased foreign capital outflows from China Read More »
In the payments industry, partnerships drive innovation. However, merchants lack knowledge on payment processes, impacting their business. Anjulie Patel, VP of partnerships at Nucleus365, highlights this issue. Merchants are eager to learn about securing sales but need guidance. Patel explores the impact of payment partnerships on e-commerce and offers insights for successful sales. Read more …
E-Commerce Landscape: Impact of Payment Partnerships Read More »
Elon Musk reclaims title of world’s wealthiest person with an estimated net worth of $192 billion, surpassing LVMH CEO Bernard Arnault’s $187 billion, according to Bloomberg Billionaires. Musk and Arnault have been in a close race for the top spot. Arnault’s wealth declined after a drop in LVMH’s stock, while Musk’s rise is attributed to …
JPMorgan CEO Jamie Dimon calls for real engagement between US and China during his visit to China, emphasizing the need to address disputes over security and trade. He rejects decoupling in favor of derisking as tension escalates. Dimon expresses optimism that these issues are resolvable and highlights the importance of dialogue over confrontation. This visit …
JPMorgan’s Dimon Urges Genuine US-China Engagement Read More »
US Treasury cash reserves are dangerously low, with just $38.8B remaining as of May 25. This amount is approaching the minimum level of $30B, while 31 billionaires, including Bernard Arnault, Elon Musk, and Jeff Bezos, individually surpass the Treasury’s cash with net worths ranging from $144B to $193B. Notable figures like Warren Buffett, Mark Zuckerberg, …
31 Billionaires Surpass US Treasury’s Cash Reserves Read More »
