U.S. stocks jumped to session highs, with the S&P 500 reaching a record, Thursday after President Joe Biden declared that the White House struck an infrastructure deal with a bipartisan group of senators. The S&P 500 rose nearly 0.6% to hit a record closing high of 4,266.49, retaking its previous record from June 14 and fully recouping […] Read more
Bitcoin’s price tumbled Friday following an intensified call from Chinese authorities to crack down on mining and trading of the cryptocurrency. Chinese Vice Premier Liu He and the State Council said in a statement that tighter regulation is needed to protect the financial system. The statement, released late Friday in China, said it is necessary […] Read more
Cryptocurrency exchange Coinbase will go public on Wednesday via a direct listing that’s expected to value the start-up at more than $90 billion when it starts trading this afternoon under the stock ticker “COIN”. But when Coinbase first launched nine years ago, it hired its very first employee after receiving an enthusiastic, but “annoyingly long” cold email. And the […] Read more
Economic shocks like the coronavirus pandemic of 2020 only arrive once every few generations, and they bring about permanent and far-reaching change. Measured by output, the world economy is well on the way to recovery from a slump the likes of which barely any of its 7.7 billion people have seen in their lifetimes. Vaccines […] Read more
Goldman Sachs has marked out the Mexican peso as its top emerging market (EM) currency pick “once the dust settles” from the coronavirus pandemic. In a note Thursday, Goldman strategists suggested that while it may be too early to engage with high-yield EM bets, with risks still prevalent and the dollar on the move, it is not too […] Read more
Millennials have always been perceived to be a generation that believes in `living –in the moment’, unlike their predecessors who were more inclined towards protection and preservation of wealth. This generation also considered instant gratification and easy monthly installments as the main mantra of happiness. In fact, according to Tata Capital’s flagship report The Millennial […] Read more
An extended rally in shares in mainland China lifted spirits across the Asian region on Thursday. Gains however were limited as the number of coronavirus cases globally soared above three million, with little sign of the virus peaking. China’s Shanghai Composite index closed 47.15 points or 1.39% higher at 3,450.59 points Thursday, while the blue-chip […] Read more
Customer deposits in the banking sector dropped by $25.3 billion, or 15 percent, from the end of August 2019, when they first started declining, to the end of April 2020. Deposits, which stood at $148 billion at the end of April, were declining as a result of the bank run that was triggered by concerns […] Read more
With the coronavirus pandemiccausing financial markets to tank and a prolonged period of uncertainty ahead, investors have been flocking to keep their cash in Singapore, with bank deposits in foreign currenciesreaching an all-time high of S$26.9 billion (US$19.2 billion) in April. In fact, such deposits have been steadily increasing since July, last year, data from […] Read more
The European Central Bank has been leading the push to stimulate Europe’s economy, keeping the cost of borrowing for local businesses and households low. But some now say its financial toolkit is almost empty. This is important for Small and Medium Enterprises, which represent more than 99 per cent of all European non-financial companies. They […] Read more
