Bitcoin took a hit in overnight trading, showcasing its ongoing tendency for significant price drops. The world’s largest cryptocurrency, which had been trading above $72,000, plummeted to around $67,000 in a matter of hours, marking a decline of approximately 7%. This sharp decrease in value serves as a reminder that despite gaining mainstream acceptance in
Finance
Despite facing challenges and headwinds in recent times, HSBC remains optimistic about the mid- to long-term outlook for the Chinese economy. The growth of China has been hindered by a slowdown in traditional economic sectors such as real estate, infrastructure, and exports. In response, Beijing has intensified its efforts to promote manufacturing and domestic tech
The report by British asset manager Janus Henderson reveals that global dividend payouts to shareholders reached a new peak in 2023, hitting $1.66 trillion. This represents a 5% increase year-on-year, with the fourth quarter showing a significant 7.2% rise from the previous three months. The adjustment for exchange rates, one-off special dividends, and technical factors
Ken Griffin, the founder and CEO of Citadel, has expressed his belief that the Federal Reserve should proceed with caution when it comes to cutting interest rates in response to stubborn inflation. He emphasized the importance of not acting too quickly, as shifting towards higher rates abruptly could have devastating consequences. Griffin’s comments were made
The weeklong annual parliamentary meetings in China came to a close recently, with a notable departure from tradition. For the first time in decades, the Chinese premier opted not to hold a press conference following the meetings. This decision, announced officially last week, marks a significant shift in how the highest levels of China’s government
The Alaska Airlines incident where a door panel blew out mid-air two months ago has now prompted a criminal investigation by the Justice Department, according to The Wall Street Journal. This incident occurred on Flight 1282 on Jan. 5 heading to Ontario, California from Portland, Oregon, where a section of the plane ripped off midair,
When looking at the top holdings of many ESG funds, one might expect to see a unique mix of companies that prioritize environmental, social, and governance factors. However, it may come as a surprise that these funds often consist of familiar names from across various industry groups. According to DWS Group’s Arne Noack, the goal
President Joe Biden recently signed a $460 billion spending bill into law to prevent a partial government shutdown. The bill encompasses funding for six major areas of government, including military and veterans affairs, agriculture, commerce, justice, transportation, housing and urban development, and energy. This agreement, which was approved by the Senate and House, is a
The popular mobile payment app Alipay in China has announced a significant increase in transaction limits for foreign visitors. Previously capped at $500 annually without the need for ID registration, the new limit has now been raised to $2,000, allowing international tourists to make larger purchases using the app. This move is aimed at attracting
New York Community Bank recently reported a significant loss of deposits, totaling 7% in the month leading up to a capital injection of over $1 billion. This injection was facilitated by investors, with former Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital taking the lead. The bank’s total deposits stood at $77.2 billion as of March