At the end of January 2024, the wealth fund reported a record 2023 profit of $213bn and a current value of $1.6tn. Based on a Reuters report, Svein Richard Brandtzæg, the chairperson of the Council of Ethics, said that due to the Gaza conflict, it must determine which organisations sell weapons used in the war…
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This makes it the first developed nation to cut interest rates after the COVID-19 pandemic, the fall of Credit Suisse, the onset of the war in Ukraine, and persistent inflation pressures. Switzerland’s central bank explained its decision by stating that local inflation will probably remain below 2% for the foreseeable future. Despite this announcement and…
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This move would see shareholders get 49 extra shares for every share held on 18 June. Their plan still needs approval from their shareholders, which will be sought at their next annual meeting which is due to be held on 6 June. The post-split CMG stock will be traded from 26 June onwards if approved.…
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Suleyman also co-founded DeepMind, the artificial intelligence (AI) outfit bought by Alphabet Inc’s Google (GOOG) in 2014. Industry experts believe that this move fortifies Microsoft’s reputation as an AI stalwart in big tech circles and forms part of CEO Satya Nadella’s drive to acquire top expertise. Suleyman will head Microsoft’s new consumer AI unit, while…
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The group said that one of its brands, Gucci, saw sales that are likely to drop by approximately 20%. Kering further indicated that it will release its Q1 2024 financials on 23 April 2024. Bloomberg reported that the group experienced its toughest day on the trading floor since March 2020, as it lost around €6.3bn…
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Since its inception in 2021, IC Your Trade has emerged as one of the globally renowned business vodcasts, garnering widespread sharing to help you make your next trade. ICYT boasts an impressive line-up of guests, featuring prominent figures like Bruce Lee, CEO of Keebeck Wealth Management, Former Adviser to the President of the United States,…
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Graham is set to bring a vast reservoir of compliance expertise and industry knowledge to the firm, which will be instrumental in enhancing ATFX’s regulatory frameworks and overseeing compliance matters within the Australian financial market. Graham comes to ATFX with an impressive professional background, having previously served in key compliance roles for notable financial companies.…
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Below, we look at the key factors impacting economic data this week. Wednesday: UK inflation rate at 7:00am GMT. The consensus is for a decline from 4% to 3.5% in February. If these forecasts hold true, it could mark the lowest yearly inflation figure for Britain and might lead to slight losses for the pound,…
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Lagarde sought to temper expectations of a clear-cut path for rate cuts while acknowledging positive signs in recent wage and inflation trends. During a Frankfurt conference, she explained that "our actions will need to be informed by the latest data at each meeting without committing in advance to a fixed trajectory for future rates." Supporting…
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Under this new agreement, PayPoint has committed to a "significant investment" in Lloyds' card payments division, Cardnet. This investment is expected to bolster the capabilities and reach of Lloyds Bank's card services, enhancing the suite of payment solutions available to merchants across the UK. The partnership is designed to bring many advantages to merchants, offering…
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