Exclusive-SoftBank’s Arm China Lays Off Workers As Outlook Grim -Sources
SoftBank Group Corp's chip technology firm Arm Ltd's China joint venture laid off 90-95 employees last week to cope with a challenging business outlook this year, according to three sources familiar with the situation. The layoffs come as SoftBank tries to set up a...
Dollar Subdued Ahead of Fed Decision; Sterling Rise on CPI jump
The U.S. dollar traded near five-week lows in early European trade Wednesday ahead of the latest Federal Reserve interest rate decision, while surprisingly strong U.K. inflation data lifted the pound. At 03:55 ET (07:55 GMT), the Dollar Index, which tracks the greenback against a...
Bank Slide Deepens As SVB Contagion Fear Rattles Markets
Asia's share markets slid on Tuesday, with financial stocks in Tokyo leading losses as fear of a U.S. banking crisis had investors fleeing the sector and slashing the interest rate outlook even ahead of U.S. inflation data due later in the day. Japan's Nikkei...
Inflation Could Make Or Break Rebounding 60/40 Portfolio
An investing strategy designed to hedge against market declines is rebounding after a rough year, but its success may hinge on whether inflation continues to ebb in coming months. So-called 60/40 portfolios typically allocate 60% of their assets to stocks and the rest to...
Dow Futures Move Higher After indices Retreat, Job Openings slow
U.S. stock futures were trading slightly higher during Tuesday’s evening deals, after the major benchmark indices posted a negative session amid consolidation after JOLTs job openings data fell to a 2-year low. By 6:55pm ET (10:55pm GMT) Dow Jones Futures, S&P 500 Futures and...
Tesla Resumes US Orders For Model 3 Long-Range Version At Lower Price
Inc has resumed taking orders for its Model 3 long-range version in the United States, the company’s website showed late on Tuesday, after a temporary halt last year due to delivery backlogs. The long-range version of the entry-level Model 3 is priced at $47,240...
Germany Leads Big Bond Rally As Inflation Finally Heads Down
Germany is leading the biggest rally in global bond markets since March’s banking rout as cooling inflation and a weakening economy suggest European Central Bank rate hikes are nearing an end. Borrowing costs, or bond yields, in the benchmark euro area issuer are down...
Hajj and Eid al-Adha 2024
Dates and Significance
This year, based on moon sighting, Hajj will start on June 14, and Eid al-Adha will be celebrated on June 16. Hajj, one of the largest annual Muslim gatherings, takes place in Mecca from the 8th to the 10th of Dhul-Hijjah, the...
Asia FX Surges, Dollar Sinks on Fed’s ‘Dovish Hike’
Most Asian currencies rose sharply on Thursday, while the dollar fell to a seven-week low after the Federal Reserve raised interest rates but hinted at a potential pause in its tightening cycle, although rates are likely to remain higher for longer. China’s yuan surged...
Silicon Valley Bank is Largest Failure Since 2008 Crisis, Billions Stranded
Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded. California banking regulators closed the bank, which did...