Bounce in FTSE 100, DAX 40 and S&P 500 May Soon Lose Upside Momentum
This week’s recovery rally in FTSE 100, DAX 40 and S&P 500 may soon lose upside momentum as indices approach technical resistance
NZ Delivers 1st Rate Cut in over 4Y and Flags more Easing, Kiwi Tumbles
RBNZ cuts rates by 25 bps to 5.25, first easing in over 4 yrs RBNZ flags more cuts ahead, taking rate to 3.85 end2025 Kiwi dlr tumbles as markets bet on more aggressive easing path Market pricing sees policy rate near 3.0 by end of 2025 WELLINGTON, Aug 14 Reuters New Zealand39;s central bank slashed […]
Huawei Readies new AI Chip to Challenge Nvidia in China, WSJ
Aug 13 Reuters China39;s Huawei Technologies is close to introducing a new chip for artificial intelligence use to challenge Nvidia in China amid U.S. sanctions, the Wall Street Journal reported on Tuesday, citing sources. Huawei39;s latest processor, Ascend 910C, is being tested by Chinese internet and telecom companies in recent weeks, the report said, adding that […]
Moodys and SP Doubt Boeing will Hit YearEnd Production Targets
Boeing39;s cash flow impacted by slowed 737 MAX production and deliveries Moodys and SP expect Boeing to hit monthly 737 MAX production rate of 38 in 2025 Boeing expects to increase MAX output to 38 per month by year39;s end Aug 13 Reuters Boeing will likely miss a key 737 MAX jet production target in 2024, […]
US Small Business Sentiment near 212Year High
WASHINGTON, Aug 13 Reuters U.S. smallbusiness confidence jumped to the highest level in nearly 212 years in July, another indication that financial market fears of a recession following last month39;s increase in the unemployment rate were likely overblown. The National Federation of Independent Business NFIB said on Tuesday its Small Business Optimism Index rose 2.2 […]
US Manufacturers Hit by Soaring Property Insurance Costs
Aug 13 Reuters James Kirsh expects the cost of the property and casualty insurance for his familyowned foundry in Wisconsin that makes cast iron parts for tractors and other equipment to at least double when it39;s up for renewal this fall. Hes been told it could triple. The problem is that his longtime insurer Acuity […]
People Leave New Zealand in Record Numbers as Economy Bites
WELLINGTON, Aug 13 Reuters People are leaving New Zealand in record numbers as unemployment rises, interest rates remain high and economic growth is anaemic, government statistics show. Data released by Statistics New Zealand on Tuesday showed that 131,200 people departed New Zealand in the year ended June 2024, provisionally the highest on record for an […]
Leasing Model behind Europes EV Drive at Risk of Breakdown
LONDON, Aug 13 Reuters Low resale values for electric cars have pushed the leasing firms that drive Europe39;s auto market to double prices over the last three years and some are threatening to quit the business altogether if regulators force them to go electric too fast, industry executives say. The jump in prices for electric […]
Global EV Sales Up 21 in July as China Records Biggest Jump of 2024, Rho Motion
Reuters Global sales of fully electric and plugin hybrid vehicles rose by a yearly 21 in July, thanks to China39;s strongest growth this year and despite dropping demand in Europe, market research firm Rho Motion said Monday. In the European Union MG Motor, owned by China39;s SAIC Motor Corp, expects to be hit hardest by provisional […]
India Easing Perpetual Bond Valuation Norm Set to Revive Market
MUMBAI, Aug 13 Reuters India easing norms for how mutual funds value perpetual bonds will prompt banks to resume issuing the notes and revive the market, bank officials and investors said. The Securities and Exchange Board of India SEBI, which had tightened valuation norms in March 2021 after Yes Bank completely wrote off its perpetual […]