The dollar fell on Thursday after the U.S. Federal Reserve signaled to the market that the end of the central bank’s rate hike campaign is near, Reuters writes. Investors were optimistic about a dovish hint from Fed chief Jerome Powell’s statement on Wednesday that the world’s largest economy had begun a deflationary process, although he […]

Gold prices rose to a nine-month high on Thursday after rising sharply in the previous session as the Federal Reserve’s pledge to keep raising interest rates weakened the dollar and heightened concerns about a possible slowdown in economic growth this year. The yellow metal largely outperformed its peers this week, with the Fed meeting boosting […]

 Swedish automaker Volvo is preparing for a mass conversion of all of its core models – 3 SUVs and 2 sedans – to electric vehicles, as well as a luxury electric van, to ramp up sales in Asia, Reuters writes. Volvo, wholly owned by China’s Geely Automobile Holdings (HK:0175), will launch at least 6 new […]

The Bank of England raised its benchmark interest rate by 50 basis points to 4% from 3.5% at the end of its February meeting, according to the regulator’s press release. The central bank’s decision coincided with the forecasts of analysts surveyed by DailyFx. The rate is now at its highest level since October 2008, when […]

The European Parliament has called on EU countries to adopt the 10th package of sanctions against Russia “as soon as possible,” Kommersant reports. It is also proposed to ban companies still remaining in Europe, including Lukoil and Rosatom, from operating in the EU market, as well as to refuse not only to import oil and […]

Warren Buffett’s investment company Berkshire Hathaway has sold 1.55 million BYD shares listed on the Hong Kong Exchange. The sale amounted to HK$351.8 million ($44.85 million). This is reported by Reuters. Thus Berkshire Hathaway reduced its stake in the company to 12.9%. The fund began to reduce the position in shares BYD in August last […]

The owner of South Korea’s largest cryptocurrency exchange Bithumb, Kang Jong-hyun, has been arrested on multiple charges including dereliction of duty, market manipulation and fraudulent transactions, Cointelegraph writes. Kang Jong-hyun, 41, is the older brother of Kang Ji-yong, the head of Inbiogen, a Bithumb subsidiary that holds the largest stake in Vidente Vidente, Bithumb’s largest […]

The ECB, following the Bank of England, raised the rate by 50 bps to 3%, according to the regulator’s press release. This is the maximum value since 2008. Nevertheless, the regulator noted that it plans to hold another rate hike by 50 bp in March. The ECB signaled a further increase in order to bring […]

The number of Americans who applied for unemployment benefits for the first time, last week decreased by 3 thousand – to 183 thousand people, according to the report of the U.S. Department of Labor. This is the minimum value since April 2022. A week earlier, this indicator amounted to 186 thousand. Analysts surveyed by Bloomberg, […]

The world’s largest online retailer Amazon.com Inc (NASDAQ:AMZN). reported its lowest fourth-quarter net income since 2014, leading to a record annual loss. According to a press release, net income in the October-December period collapsed to $278 million, or 3 cents per share, compared to a record $14.32 billion, or $1.39 per share, in the same […]

Anglo-Dutch Shell will make decisions on investments in different types of energy resources depending on their profitability and compliance with the goals of the energy transition, said the new head of the company Vael Savan during the communication with investors. He emphasized that Shell plans to allocate a third of its investments to renewable and […]

The Russian authorities are considering abandoning the use of Urals quotations for oil tax calculations, and business activity in the Russian service sector is declining for the fourth month in a row – these and other important news for Friday morning, February 3, in our daily review. The Russian authorities are considering the possibility of […]

Apple on Thursday reported its first-quarter financial results that fell short of analysts’ expectations, driven by lower iPhone sales amid a worsening economy and manufacturing problems in China. The company’s profit came in below forecasts for the first time since 2016. Apple (NASDAQ:AAPL) shares fell 3% after the report was published. The company reported earnings […]

This is the moment of truth for India’s capital market and perhaps its entire growth model. Gautam Adani, on paper Asia’s richest man until last week, is accused of the biggest scam in corporate history, using extraordinary leverage and a network of offshore shell companies to manipulate the value of his group companies. Adani, naturally, […]

U.S. automaker Ford Motor Co (NYSE:F). cut net income 9.4 times to $1.3 billion, or 32 cents per share, in the fourth quarter of 2022, compared with $12.3 billion, or $3.03 per share, in the comparable period a year earlier. Ford’s adjusted earnings rose to 51 cents per share from 26 cents per share a […]

Software analytics company MicroStrategy recorded a $34 million loss after its first bitcoin sale last quarter, Cointelegraph writes. Recorded impairment losses on its BTC assets, net of gains on the sale, totaled nearly $1.3 billion for the full year 2022. MicroStrategy CFO Andrew Kang said the company may consider additional transactions to take advantage of […]

The fortune of Meta* founder and CEO Mark Zuckerberg on Thursday, February 2, increased by a record $12.5 billion. Such a significant increase was facilitated by a rally in bigtech stocks on the back of the company’s strong results, Bloomberg writes. On Wednesday, February 1, after the close of the main trading session in the […]

Lord Jo Johnson, the younger brother of former British Prime Minister Boris Johnson, has turned down a senior position at Elara Capital, a global investment bank with links to Gautam Adani’s empire, Yahoo writes. He was acting director of Elara Capital, a full-service investment bank that was founded in 2002 to raise funds for Indian […]