Author: Shemesh Shahar
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Tencent’s Revenue Rises, IBM and Google Invest in Quantum, Deutsche Bank to Reduce Office Space
Tencent’s Revenue Rises Tencent (HKF:0700), the Chinese tech giant, experienced accelerated revenues in the first quarter as the country’s economy rebounded after the end of its zero-Covid policy. In the three months leading up to March, the social media and gaming group reported an 11% rise in revenue, reaching Rmb150bn ($21bn) compared to the same…
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Increasing Delinquency Rates in US, Slowdown in China’s Home Price Growth, US Housing Starts To Show Recovery Signs
Sudan Aid Plea Amidst Conflict: UN Seeks $2.6B The UN’s aid agency has appealed for $2.6 billion to support humanitarian efforts in Sudan amidst ongoing conflict between the Sudanese army and the paramilitary group, Rapid Support Forces. With over half of the country’s population, approximately 25 million people, requiring aid and protection, the situation is…
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UBS Anticipates Cash Boost, ServiceNow Launches Share Buyback, JD Sports Reports Profit Drop
UBS Anticipates Cash Boost UBS (NYSE:UBS), the Swiss bank, anticipates receiving a substantial cash boost from its acquisition of Credit Suisse, a former competitor, amounting to billions of dollars. The combined firms’ negative goodwill, resulting from the purchase of a rival below tangible book value, has reached $34.8 billion as of the end of 2022.…
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Japan’s Economy Surpasses Expectations, IEA Raises Oil Demand Forecast, European Auto Sales Recover
Debt Ceiling Optimism Republican House Speaker Kevin McCarthy expressed optimism that a deal to raise America’s debt ceiling could be reached by the end of the week. After meeting with President Joe Biden, McCarthy insisted on spending cuts in exchange for increasing the government’s borrowing cap. As talks continue, Biden has decided to shorten his…
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FTC to Block Amgen’s Acquisition, Home Depot Anticipates Sales Decline, Venture Funds’ Negative Returns
FTC to Block Amgen’s Acquisition The Federal Trade Commission (FTC) is set to block Amgen’s (NASAQ:MAGN) proposed acquisition of Horizon Therapeutics (NASDAQ:HZNP), signaling a renewed effort by antitrust enforcers to prevent mergers in the pharmaceutical industry. According to a person familiar with the matter, the FTC plans to seek an injunction in federal court to…
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Real Estate Warning Signals, Rebound in US Retail Sales, US Manufacturing Output Rise, German Investor Confidence Decline
French Banks Tax Probe The French government aims to recover €2.5bn in back taxes from major banks implicated in an alleged tax avoidance scheme related to dividend payments. Although the banks involved were not disclosed, Gabriel Attal, the budget minister, disclosed the potential losses caused by cum-cum trades, transactions designed to exploit tax advantages linked…
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EU Approves Microsoft-Activision Merger, New CEO Pay Disclosure, Buffett Bets on Capital One
Asian Equities Advance, Japan’s Topix Climbs Most Asian equities advanced, and Japan’s Topix benchmark (TOPIXI:TOPIX) climbed to its highest level since 1990. The renewed push by Japan’s corporates to increase buybacks and focus on returns is helping boost sentiment, with the Nikkei 225 Stock Average (NIKKEII:NI225) leading gains among Asia’s major benchmarks. Chinese equities on…
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EU Urges Crackdown on Indian Oil, China’s Economic Recovery Slows Down, Sweden to Limit Foreign Investments
US Government Faces Default Risk The US Treasury Secretary, Janet Yellen, has stated that the cost of government borrowing for bonds maturing in June has substantially increased. She has warned that the US government risks defaulting on its debt by next month if an agreement on raising the debt ceiling is not reached. In an…
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Tesla Raises Prices After Share Drop, Procter & Gamble Raises Prices
Tesla Raises Prices After Share Drop Tesla (NASDAQ:TSLA) has raised the prices of its two most expensive models, hours after its shares dropped due to concerns that its aggressive price-cutting policy would harm profits. The electric car maker is lowering prices in the US to boost demand and fill its factories in California, Texas, Germany,…
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Eurozone Activity Rises, UK Retail Sales Contract in March, Japan’s Inflation Outpaces Expectations
Rapid Support Forces Announce Ceasefire The Rapid Support Forces, a militia group fighting against Sudan’s ruling military junta, has announced a 72-hour ceasefire for the Muslim holiday of Eid al-Fitr, with the purpose of opening up humanitarian corridors to evacuate citizens. The army has not responded to the announcement. Previous attempts at a ceasefire since…