This economist was also correct in his bullish S&P 500 approach, despite everyone anticipating recession and stock price drops. Lee said this index would end at 4,750 in 2023. It closed at 4,769. Still trying to regain a balance after the FTX scandal, TerraUSD $60bn wipe-out, and crash which saw Bitcoin plunging from $69,000 in…
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These movements show Microsoft’s tech giant standing is well-deserved. Its rival Apple Inc (AAPL) holds a market cap of just over $3tn and became the first company to achieve this. Microsoft is one of the so-called Magnificent 7 tech outfits that boosted over half of market gains last year. These companies –Microsoft, Apple, Meta Platforms…
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In 2022, the company forecasted a 9 million subscriber gain, which would bring approximately 30 million net additions for the full year. NFLX’s revenue reports surpassed Wall Street’s prediction of $8.71bn, instead showing a quarterly revenue of $8.83bn, a 12.5% increase compared to the same period in 2022. The streaming giant sent waves through the…
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Reportedly, managers at Amazon France Logistique keep such close tabs on employees that it infringes several rules in the European Union’s (EU) General Data Protection Regulation. CNIL’s investigation tagged using barcode scanners at various checkpoints along the chain as intrusive. Amazon strongly contested any irregularity in the use of these devices and said: We strongly…
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Reportedly, Ma, who had a $24.6bn net worth as of 23 January, forked out $50m for his company’s Hong Kong traded stock. The same report also indicated Tsai used his Blue Pool Management family enterprise to buy around $151m of Alibaba’s US-traded stock. According to Reuters, the Chinese business magnate’s media management division, the Jack…
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The SEC determined that an unauthorised party had transferred a SEC mobile phone number linked to the X account in question onto another device. This act, although not an uncommon cyber theft act, left the market questioning the SEC’s security. After the post, bitcoin’s market price decreased from approximately $48,000 to $45,5000, a fall of…
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Established in 2005, FP Markets has held the title for Best Global Forex Value Broker for five consecutive years and provides over 10,000 tradable instruments across key asset classes to users worldwide. It works to aggregate pricing across top-tier liquidity providers and offers various Account Types to suit all levels of trading. The partnership works…
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The most important economic data for this week are: Tuesday: BoJ Interest rate decision at 03:00 AM GMT. The market consensus is that the rates will remain static at -0.1%, while in the unlikely scenario any shift away from this figure will most certainly create volatility in the yen pairs. Japanese Balance of trade at…
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The organisation’s shares plummeted 24% after news hit the airwaves that CFO, Vikram Luthar, was placed on administrative leave as the firm investigates alleged accounting malpractices in its Nutrition division. Reportedly, after a US Securities and Exchange Commission (SEC) voluntary document request, ADM sliced its 2023 profit predictions and announced the delay of the publication…
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Under Basel III, an international regulatory reform created by the Basel Committee on Banking Supervision, stricter regulations are now finalised to bolster the regulation, supervision, and risk management of banks to avoid a repeat of the 2007 to 2009 global financial crisis. US banks have, however, been contesting these rules for months, claiming they will…
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