Oil market ‘oversold’? Analysts and traders pin crude’s price plunge on demand, trading strategies
Oil prices declines despite supply cut extensions from the OPEC+ alliance, with traders and analysts faulting the options market and weak demand.
$17 billion UK adtech lawsuit against Google can go ahead, tribunal rules
Alphabet must face a mass lawsuit which accuses it of abusing its dominance in the online advertising market, London’s Competition Appeal Tribunal ruled.
SoftBank shares jump up to 6.3% on report that Elliott Management’s pushing for $15 billion in buybacks
SoftBank shares hit a high of 9,572 Japanese yen on Wednesday, 6.32% higher than its Tuesday closing price of 9,003 yen, according to LSEG data.
Modi’s weaker-than-expected election win raises questions over his economic and political agenda
Veteran investor David Roche called the election outcome an exercise of “karma,” adding that this was Modi’s election to lose.
European markets close higher as investors look ahead to ECB meeting; ASML jumps 8%
European stocks closed higher Wednesday, with investors in the region looking ahead to the next meeting of the European Central Bank.
King Charles banknotes enter circulation for the first time
Banknotes featuring a portrait of King Charles III entered circulation on Wednesday for the first time, the Bank of England said in a statement.
Goldman-backed Starling says no plans to pursue EU bank license, expansion to come from software
Starling will pursue international expansion via its software business Engine rather than via banking licenses, incoming CEO Raman Bhatia said.
CNBC Daily Open: Roaring Kitty’s wealth, Modi’s victory
India’s Prime Minister Narendra Modi declared victory late on Tuesday, securing a historic third term.
European Central Bank set to cut rates for the first time since 2019
It will mark the official end to the record fast-hiking cycle that begun after the Covid-19 pandemic as inflation soared higher.
Qualcomm-backed firm launches latest AI chips — posing a challenge to giants like Nvidia
Kneron, a Taiwanese firm also backed by iPhone assembler Foxconn, took the wraps off the KNEO 330, its second-generation “edge GPT” server.
