In a stunning surge, gold prices soared to a record high at the start of the second quarter, driven by a combination of factors including expectations of Federal Reserve rate cuts and escalating geopolitical tensions. The precious metal reached as high as $2,259.69 an ounce on Monday, marking a 1.3% increase from Thursday’s closing price …
UBS, the Swiss banking giant, recently finalized the sale of Credit Suisse’s securitised products business to Apollo Global Management, marking a significant step in its strategy to streamline operations and focus on core activities. This sale, part of UBS’s efforts to divest non-core assets following its takeover of the collapsed banking group, is expected to …
In a staggering debut on the New York Stock Exchange, Reddit Inc. saw its shares surge by a remarkable 48%, showcasing the insatiable appetite of investors for the potential of artificial intelligence (AI) in shaping the future of social media. The company, headquartered in San Francisco, closed at $50.44 per share, marking a momentous milestone …
In an unexpected twist that caught the eyes of investors and market watchers worldwide, the Japanese yen took a significant dive, reaching levels not seen since the financial crises of previous decades. This intriguing movement in currency valuation comes at a time when the Bank of Japan (BOJ) appears to be charting a new course …
In a notable turn, oil prices surged to a four-month high on Monday, fueled by a blend of factors including reduced crude exports from key producers like Iraq and Saudi Arabia, resilient demand and economic expansion in China and the U.S., and a projected supply shortfall by the International Energy Agency (IEA). Supply Constraints and …
In a landmark decision, the Bank of Japan (BOJ) recently announced the end of its eight-year-long experiment with negative interest rates, marking a significant shift in its monetary policy. This move, which is Japan’s first interest rate hike in 17 years, signifies the country’s departure from its prolonged focus on reflating growth through massive monetary …
Foreign exchange reserves, also known as forex reserves, are essentially a nation’s savings account held in foreign currencies. Countries accumulate these reserves for several reasons, including: Maintaining a stable exchange rate: By selling foreign reserves, a central bank can buy its own currency in the foreign exchange market, thus influencing the exchange rate. Managing international …
Central banks are the financial institutions that manage a country’s money supply and interest rates. They play a vital role in maintaining financial stability and promoting economic growth. The wealth of a central bank is measured by its assets, which can include gold, foreign currencies, and government bonds. Here’s a look at the top 10 …
Nvidia Corp, the renowned chipmaker, has been dominating headlines as its stock continues to surge, smashing through record after record. Recently, two of Nvidia’s directors seized the opportunity to cash in on this remarkable run, selling shares worth a whopping $180 million. Let’s dive into the details and explore the implications of these insider transactions …
On November 21, NVIDIA announced revenue of USD 18.12 billion for the third quarter of fiscal year 2024, which ended October 29, 2023, up 206% from the previous quarter and up 34% from the previous quarter. GAAP earnings per diluted share for the quarter were USD 3.71, up more than 50% from the previous quarter …
