Month: September 2024
Britain’s finance minister calls for spending discipline but no return to austerity
Rachel Reeves, Chancellor of the Exchequer, speaks to the media ahead of her keynote speech during the Labour Party Conference 2024 at ACC Liverpool on September 23, 2024 in Liverpool, England. Ian Forsyth | Getty Images News | Getty Images Liverpool, ENGLAND — U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not […]
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Stocks making the biggest moves premarket: Intel, Pinterest, Palantir and more
Check out the companies making headlines before the bell. Intel – The chipmaker rose 4% on news that asset management company Apollo Global Management offered to make an equity-like investment of as much as $5 billion in Intel, according to a Bloomberg News report on Sunday. CNBC confirmed on Friday that Qualcomm had recently approached […]
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5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day: 1. Rate relief Investors cheered the Federal Reserve’s huge policy move last week. The question now is what the central bank will do next. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all rose more than 1% for […]
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UniCredit boosts its stake in Commerzbank, applies to own up to 29.9% of the German bank
Commerzbank headquarters in the financial district of Frankfurt, Germany, on Sept. 12, 2024. Bloomberg | Bloomberg | Getty Images UniCredit announced on Monday it had increased its stake in German lender Commerzbank to around 21% and submitted a request to boost the holding to up to 29.9%. The Italian bank acquired the additional Commerzbank shares […]
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Europe careens toward a downturn as its biggest economies fight crises at home
Steel worker at the blast furnace tap of the at the Salzgitter AG steelworks on March 02, 2020 in Salzgitter, Germany. Maja Hitij | Getty Images News | Getty Images 107392634Europe looks to be heading toward a downturn as its biggest economies, Germany and France, battle political and economic woes at home. Business activity in […]
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TSMC and Samsung in talks with UAE to build chip megafactories, WSJ reports
The Dubai International Financial Centre (DIFC) area of Dubai, United Arab Emirates, with the Burj Khalifa in the backdrop, Sept. 16, 2022. Christopher Pike | Bloomberg | Getty Images Global chip giants Taiwan Semiconductor Manufacturing Co. and Samsung Electronics have been in talks with the United Arab Emirates to explore building megafactories in the Middle […]
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European markets flat as French and German PMIs point to renewed downturn
Customers sit outside at a cafe terrace in Paris, France, on Nov. 10, 2021. Bloomberg | Bloomberg | Getty Images LONDON — European stocks were flat in early trade Monday morning as German and French business activity data pointed to renewed declines in the region’s two largest economies. The pan-European Stoxx 600 index opened modestly […]
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UK Finance Minister Reeves vows no austerity despite tough budget
Britain’s Finance Minister Rachel Reeves has pledged to make the “necessary”, “urgent” and “incredibly tough” choices to restore the country’s economic stability. Pool | Getty Images News | Getty Images Finance minister Rachel Reeves will promise Britain on Monday there will be no return to “austerity” or widespread spending cuts despite previous warnings of a […]
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A stunning sterling rally is about to collide with Britain’s political realities
LONDON — The British pound has jumped to its highest level in two-and-a-half years following a hawkish rate hold from the Bank of England, but strategists warn the upcoming U.K. budget could pose a risk to investor and consumer sentiment. Many investors are awaiting the new Labour government’s fiscal plan at the end of October […]
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Gen Z and millennials are increasingly ‘doom spending.’ Here’s what it is and how to stop it
Westend61 | Westend61 | Getty Images Some young people are splashing out on luxuries like travel and designer clothes instead of saving, in a trend that’s being characterized as “doom spending” on social media. Doom spending is when a person mindlessly shops to self-soothe because they feel pessimistic about the economy and their future, according […]
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