The European Futures Exchange plans to launch EU bond futures contracts by 2025, strengthening the EU's position in the financial markets
The European Futures Exchange (Eurex Clearing AG) recently announced plans to launch EU bond futures contracts by 2025, a strategic move that will have a far-reaching impact on the global sovereign debt market.
The UK's Financial Conduct Authority (FCA) has unveiled plans for cryptocurrency regulation, aiming to be fully implemented by 2026
The UK Financial Conduct Authority (FCA) has recently announced a detailed roadmap for implementing a comprehensive regulatory framework for the cryptocurrency industry by 2026.
China Discovers the World's Largest Gold Mine: Estimated Gold Reserves Around 1,000 Tons, Valued at Approximately $83 Billion
Recently, the world's largest gold mine was discovered in Pingjiang County, Hunan Province, China. The potential value of the mine is estimated at around 600 billion RMB (approximately $83 billion).
Intel's Stock Price Plummets 60%, CEO Pat Gelsinger Resigns
Intel CEO Pat Gelsinger has announced his resignation amid ongoing challenges and market pressures, bringing an end to his nearly four-year tenure at the helm of the company.
Severe Volatility in South Korean Assets Triggered by Emergency Martial Law
On December 3, 2024, South Korean President Yoon Suk-yeol announced the implementation of an emergency martial law order, a decision that quickly sparked intense reactions in both domestic and international markets.
China Lifts Ban on Australian Beef Exports, Ending $20 Billion Sanction
On December 3, 2024, China officially lifted the trade ban on the last two Australian beef processing plants, marking the end of a four-year trade dispute.
The United States has imposed tariffs of up to 271 percent on solar panels from Southeast Asia
The U.S. Department of Commerce has announced preliminary anti-dumping tariffs of up to 271% on solar panels and components from Southeast Asian countries, including Cambodia, Malaysia, Thailand, and Vietnam.
Digital shopping boom: Black Friday online spending in the United States exceeded $10.8 billion in 2024
During the 2024 "Black Friday" shopping season, the online retail market set a new consumption record, with consumers spending $10.8 billion on that day.
The Reserve Bank of India's green bond auction suffered a market downturn, with 70 per cent of the bonds going to primary dealers
The Reserve Bank of India (RBI) recently faced a significant market downturn during its green bond auction, failing to attract enough investor participation, which led to most of the bonds being allocated to primary dealers.
Reserve Bank of New Zealand Cuts Interest Rates by 50 Basis Points: From 4.75% to 4.25%, Economic Recovery Expected in 2025
On November 27, 2024, the Reserve Bank of New Zealand (RBNZ) held its final monetary policy meeting of the year.
German industrial giant Bosch to reduce working hours and wages in response to economic pressures
To address mounting economic pressures, German automotive parts supplier Bosch has announced that, starting in the spring of 2025, it will implement work hour reductions at key factories in Stuttgart and Gerlingen.
UK Energy Price Cap Raised, Consumers Face Ongoing Cost Pressure
The UK's energy regulator, Ofgem, recently announced a 1.2% increase in the energy price cap, a decision set to impact household energy costs starting January 2025.
Europe is once again facing the risk of a new energy crisis, with rising natural gas prices and supply uncertainties posing significant challenges
Europe is at risk of a new energy crisis as volatile natural gas prices and supply uncertainties present a severe challenge to the regional economy.
iPhone 16 Faces Regulatory Hurdles in Indonesia as Government Demands Greater Investment Commitments
Apple Inc. is encountering challenges from the Indonesian government over investment requirements as it seeks to launch its latest iPhone 16 in the country.
Indonesia Plans to Raise VAT by 12%, Sparking Strong Opposition from Businesses and Unions
The Indonesian government plans to increase the current value-added tax (VAT) rate from 11% to 12% starting January 1, 2025.
The Australian Prudential Regulation Authority (APRA) Maintains 3% Mortgage Serviceability Buffer to Address Economic Uncertainty
Amidst the complex and changing global economic and domestic financial environment, the Australian Prudential Regulation Authority (APRA) announced on November 25, 2024, that it has decided to maintain the current 3% mortgage serviceability buffer.
Germany's Economic Growth Continues to Struggle, Outlook Remains Uncertain
Germany's GDP data for the third quarter of 2024 shows a growth rate of just 0.1%, revised down from the initially estimated 0.2%.
Britain's private sector shrank for the first time in a year
In November 2024, the UK private sector experienced its first contraction since November 2023, ending a 12-month streak of continuous growth.
China Takes Policy Action to Counter U.S. Tariff Threats and Ensure Stable Foreign Trade Growth
In response to the U.S. threat of imposing a 60% tariff on Chinese goods, China has implemented a series of policy measures aimed at maintaining stable foreign trade growth and enhancing economic resilience.
South Korea's Central Bank Cuts Interest Rates for the Second Consecutive Time: Lowers the Benchmark Rate from 3.25% to 3.00%
On November 28, 2024, the Bank of Korea announced that it would cut its benchmark 7-day repo rate by 25 basis points from 3.25% to 3.00%, marking the second consecutive rate cut during the year and the first consecutive rate cut since 2009.
India and Russia's trade volume is expected to reach a new high of $66 billion in 2024, with trade forecast to surpass $100 billion by 2030
The Russian Consul General in Kolkata, the bilateral trade between India and Russia is projected to reach a new high of $66 billion in 2024, marking a fivefold increase compared to five years ago.
Global Agricultural Conglomerate Cargill Announces Layoffs of Approximately 8,000 Employees
Cargill, a global leader in the agricultural sector, recently announced it will lay off about 8,000 employees, representing 5% of its global workforce.
Vietnam Strives to Achieve 8% GDP Growth Target by 2025
Vietnam's Prime Minister Pham Minh Chinh recently set an economic growth target for 2025, aiming for a GDP growth rate of around 8%, far exceeding the previous expectation by the National Assembly of a 6.5% to 7% growth range.
Australia's Retail Sales Continue to Grow, but Interest Rate Cut Expectations Remain Uncertain
According to the latest data released by the Australian Bureau of Statistics (ABS), retail sales in Australia continued to grow in October, rising by 0.6% month-on-month, marking the third consecutive month of growth.
China Extends Tariff Exemption for Some U.S. Goods Until February 2025
On November 29, 2024, China’s State Council Tariff Commission announced that it would extend the tariff exemption period for certain U.S. imports until February 28, 2025.
Toyota's Sales and Production Decline Due to Continued Slump in Japanese and Chinese Markets
Toyota, the world's largest automaker, recently reported a stagnation in its global sales and production in October 2024, primarily due to the ongoing sluggishness in the Japanese and Chinese markets.
HSBC Decides to Scale Back Most of Its Credit Card Business in China
On November 29, 2024, HSBC Holdings plc (HSBC) announced its decision to scale back its credit card business in China, driven by both market challenges and a broader corporate restructuring strategy.
India's Adani Group Accused of Bribery and Fraud by U.S.; Bonds Drop to One-Year Low
India’s Adani Group, along with its founder Gautam Adani and several senior executives, has recently been accused by U.S. authorities of serious bribery and fraud.
Tesla's Market Cap Surges by $350 Billion: UBS Analyst Warns of Overoptimism
Since the U.S. presidential election, Tesla's market value has surged by approximately $350 billion, drawing widespread attention from financial markets.
Eastern European Central Banks Become the World's Largest Buyers of Gold, Gold Prices Expected to Break $3,000
Amid global economic uncertainty and geopolitical tensions, several central banks in Eastern Europe are significantly increasing their gold reserves, making them major buyers in the global gold market.
JPMorgan Chase Global Investment Bank Chairman Jennifer Nason to Step Down in Early 2025 and Join Accenture's Board
Jennifer Nason, Chairman of JPMorgan Chase's Global Investment Bank, has announced she will step down from her position at the bank in early 2025, concluding nearly four decades of professional experience.
TotalEnergies Plans €2 Billion Acquisition of German Renewable Energy Developer VSB Group
French energy giant TotalEnergies is set to acquire VSB Group, a leading German renewable energy developer, for approximately €2 billion ($2.1 billion).
Standard Chartered Sets $200 Billion Wealth Asset Growth Target, Focusing on High-Net-Worth Clients in China and India
Standard Chartered Bank recently announced plans to add $200 billion in wealth management assets over the next five years.
Barclays Bank Pays $19.5 Million to Settle Debt Issuance Regulatory Misstep
Barclays Bank has agreed to pay $19.5 million to settle a securities fraud lawsuit filed in the Manhattan Federal Court.
Scotiabank's Stock Drops Due to Lower-than-Expected Earnings and Impairment on Chinese Investments
Scotiabank, Canada's fifth-largest bank, recently reported its fourth-quarter 2023 financial results, showing a year-over-year revenue increase.
Wall Street legend Art Cashin dies at 83: Six Decades of trading that Transformed the financial Industry
Art Cashin, Senior Director of UBS Group and Permanent Director of the New York Stock Exchange (NYSE), passed away on December 1, 2024, at the age of 83.
Supreme, the e-cigarette maker, is buying UK Tea brand Typhoo Tea for £10m
E-cigarette manufacturer Supreme has announced the acquisition of the British tea brand Typhoo Tea for £10 million.
Cryptocurrency Entrepreneur Justin Sun Purchases and Eats $6.2 Million "Banana Art"
Justin Sun, a cryptocurrency entrepreneur from China and founder of the Tron blockchain network, has recently attracted widespread attention for purchasing and eating a banana worth millions—an art piece valued at $6.2 million.
Famous Vodka Producer Stoli Group USA Files for Bankruptcy
Stoli Group recently filed for Chapter 11 bankruptcy protection in a Texas court, seeking to maintain operations during its financial restructuring process.
Citigroup strategically invests in Pylon to expand its footprint in the mortgage market
Citigroup recently announced a minority equity investment in Pylon, an innovative mortgage infrastructure platform.
The Monetary Authority of Singapore fined jpmorgan $1.8 million for bond trading irregularities caused by misconduct by relationship managers
On December 2, 2024, the Monetary Authority of Singapore (MAS) imposed a fine of SGD 2.4 million (approximately USD 1.8 million) on JPMorgan Chase for failing to effectively supervise the actions of its relationship managers.
Thailand Stock Exchange Introduces AI to Enhance Corporate Monitoring Capabilities
In response to the growing challenges posed by corporate fraud risks, the Stock Exchange of Thailand (SET) plans to introduce artificial intelligence (AI) tools aimed at enhancing its oversight and monitoring of listed companies.
Nationwide Acquires Virgin Money for £2.3 Billion
The UK's Nationwide Building Society recently announced that its acquisition of Virgin Money, completed in October 2024, has brought in an unexpected profit of £2.3 billion.
St James's Place Announces Liquidation of Real Estate Funds: Responding to a Sluggish Market and Regulatory Uncertainty
UK wealth management firm St James's Place (SJP) has recently announced that it will close all three of its real estate funds.
The Justice Department pushed for Google to be broken up, and the plunge in Alphabet shares rattled investors
The U.S. Department of Justice (DOJ) recently issued a strong antitrust proposal demanding significant structural reforms to Google’s parent company, Alphabet Inc., including the forced sale of its Chrome browser.
Northvolt Files for Bankruptcy Protection Amid Financial Struggles, CEO Resigns
Northvolt AB, once seen as the biggest challenger to Asia's dominance in the European electric vehicle (EV) battery market, filed for Chapter 11 bankruptcy protection in the U.S. in November 2023 due to severe financial difficulties.
OpenAI Secures $1.5 Billion Investment from SoftBank, Provides Liquidity for Employees via Tender Offer
OpenAI, a global leader in artificial intelligence (AI), recently announced that it has secured a $1.5 billion investment from SoftBank's Vision Fund 2 through a tender offer.
Databricks Completes Billion-Dollar Funding Round, Valuation Reaches $55 Billion
According to sources, Databricks, a leading data analytics and artificial intelligence (AI) company based in San Francisco, is set to complete a significant funding round expected to raise $8 billion.
Global Luxury Goods Market Slows Down: Biggest Contraction Since the 2008 Financial Crisis in 2025
The global personal luxury goods market is expected to experience its first significant contraction since the 2008 global financial crisis (excluding fluctuations during the COVID-19 pandemic).
The Federal Reserve's inflation indicator shows an annual inflation rate of 2.3%, in line with market expectations
Inflation in the US economy rose slightly in October 2024, providing an important reference for the Federal Reserve to assess future monetary policy adjustments.
Thai Airways International plans to raise funds through a rights offering to complete its debt restructuring
Thai Airways International is raising up to 44 billion Thai baht (approximately USD 1.27 billion) through a rights offering to complete its debt restructuring plan and successfully exit bankruptcy protection.
OPEC+ Considers Delaying Oil Production Increase Plan Amid Concerns Over Global Supply Surplus
OPEC+ members are currently discussing whether to delay the planned oil production increase scheduled for January 2025, potentially pushing back the restart of the plan by several months.
UBS Strategically Reenters Australian Wealth Management Market, Focuses on Affluent Women
UBS Group has successfully reentered the Australian wealth management market following its acquisition of Credit Suisse.
Coffee Prices Soar to Highest Levels Since 1997 as Supply Chain Disruptions Increase Market Pressure
In 2024, the global coffee market experienced significant price increases, with New York coffee futures climbing to the highest point since 1997.
Japanese Prime Minister Shigeru Ishiba Pushes for Significant Wage Increases in 2025 to Address Economic Challenges
Japanese Prime Minister Shigeru Ishiba has recently called on companies to commit to significant wage increases in the upcoming 2025 labor negotiations.
Warren Buffett Donates $1 Billion to Family Charity Foundation and Plans Future Succession
Warren Buffett, the 94-year-old CEO of Berkshire Hathaway, recently announced another $1 billion donation to his family’s charitable foundation.
Founder of Archegos Capital, Bill Hwang, Sentenced to 18 Years in Prison for Massive Securities Fraud
On November 20, 2024, Archegos Capital Management founder Bill Hwang was sentenced in Manhattan federal court to 18 years in prison for planning and executing a massive securities fraud operation within his firm.
Barclays was fined £40m over transparency issues, but shares reacted positively
Barclays Bank has been fined £40 million by the UK Financial Conduct Authority (FCA) for its reckless and lack of transparency during the 2008 financial crisis.
Peabody Energy Acquires Anglo American's Coal Business in Australia through $2.075 Billion Bridge Loan
Peabody Energy Corp., a leading U.S. mining company, has announced that it successfully secured a $2.075 billion bridge loan to acquire Anglo American PLC's steelmaking coal (metallurgical coal) assets in Queensland, Australia.
Amex GBT Releases Latest Annual Report: Global Airfare Prices Expected to Rise Further by 2025
According to the latest annual report from American Express Global Business Travel (Amex GBT), global airfare prices are expected to continue rising in 2025, though at a slower pace compared to the years immediately following the pandemic.