Author: Shemesh Shahar
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US Debt Ceiling Talks Continue, China Protests G7’s ‘Anti-China Workshop’, Israel Raises Interest Rates
China Protests G7’s ‘Anti-China Workshop’ China’s vice foreign minister summoned the Japanese ambassador to protest against what he described as collusion between Japan and the G7 to “smear and attack China.” The state-backed tabloid, Global Times, criticized the G7 summit hosted by Japan as an “anti-China workshop.” During the summit, the G7 condemned China’s activities…
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China Bans Micron, Ryanair Exceeds Profit Expectations, Meta Fined €1.2bn by EU
China Bans Micron China’s Cyberspace Administration announced a ban on operators of key infrastructure from purchasing products from US chipmaker Micron Technology (NASDAQ:MU), citing “serious network security risks.” The move marks China’s first major action against an American semiconductor group, with Micron identified as posing risks to the country’s critical information infrastructure supply chain. Ryanair…
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ECB Urges Caution Amid Central Bank Leaks, China Considers Bad-Debt Transfer
Ukraine’s President Eyes Arab-League Military Support Ukraine’s President, Volodymyr Zelensky, arrived in Saudi Arabia to strengthen his country’s ties with the Arab world at the Arab League summit. He will soon attend the G7 talks in Japan, where he aims to secure military support and promote his 10-point peace plan. In response, the G7 leaders,…
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BoA Warns of Tech Bubble, Foot Locker Stock Plunges, Deere Raises Profit Outlook
BoA Warns of Tech Bubble Michael Hartnett, a strategist at Bank of America Corp.(NYSE:BAC), has reiterated his recommendation to sell US stocks, citing concerns about a bubble forming in the tech and artificial intelligence sectors. Hartnett also believes that the Federal Reserve’s rate hikes may not be complete, and rising bond yields pose a risk.…
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Stocks Rise Amid Debt-Ceiling Deal Talks, Japanese “Digital Deficit” Weighs on Yen, Disney Cancels Florida Campus Plan
Stocks Rise Amid Debt-Ceiling Deal Talks Stocks made gains on Thursday following House Speaker Kevin McCarthy’s announcement that the House of Representatives could vote on a debt-ceiling deal as early as next week. The S&P 500 (SPI:SP500) rose by 0.9%, reaching its highest level since August 25. The Nasdaq Composite NASDAQI:NDX) increased by 1.5%, while…
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UK Consumer Confidence Rises Sharply, G7 Prepares Fresh Sanctions on Russia, US Existing Home Sales Decline
Trade Deal Strengthens US-Taiwan Bond The United States and Taiwan have reached an agreement on the initial phase of a new trade deal, focusing on anti-corruption measures, regulatory practices, and customs procedures. Following the signing of this agreement, both countries intend to address additional topics such as agriculture, digital trade, and environmental standards. This trade…
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Significant Drop in US Unemployment Claims, US Commercial Real Estate Prices Decline
G7 Leaders Discuss Ukraine Leaders of the G7, a group of wealthy democracies, have arrived in Hiroshima, Japan, for their annual summit. Ukraine will be a key topic on the agenda, with discussions centered around a peace summit to advance a ten-point roadmap proposed by President Volodymyr Zelensky. The G7 comprises the United States, Britain,…
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Semiconductors Shift to Japan, Walmart Exceeds Earnings Expectations, Alibaba Begins Breakup with IPOs
Optimism Surrounds Greek Stocks Investors are optimistic about Greek stocks, expecting the country to regain its investment-grade status and demonstrate fiscal discipline and economic resilience. Greek stocks have been among the best performers globally this year, with the Athens Stock Exchange General Index (EXAE:AT) up 22%. Semiconductors Shift to Japan Ahead of the G7 summit,…
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Montana Bans TikTok, Australian Timber Trade Resumes, Record Rents in NYC Boroughs
Global Temperatures to Surpass Paris Agreement Limit According to the World Meteorological Organisation, there is a 66% likelihood that global average temperatures will surpass pre-industrial levels by 1.5°C in one of the next five years. This represents a significant increase from previous estimates, with odds being near zero in 2015. The Paris agreement aimed to…
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Micron Invests in Japanese Memory-Chip Manufacturing, BT Group to Reduce Workforce by 42%
Deutsche Bank Settles Epstein Case Deutsche Bank (XE:DBK) has agreed to pay $75 million to settle accusations that it benefitted from human trafficking by retaining Jeffrey Epstein as a client. Lawyers describe this settlement as potentially the largest sex-trafficking settlement involving a banking institution in American history. The allegations against the German bank revolved around…