Forget tech and utilities. There’s about to be a new best sector for 2024
The financial sector is rallying late in the year, helped by strong bank earnings.
Bitcoin hits highest level since July, boosting other coins and crypto-related stocks
The price of bitcoin neared $68,400 on Wednesday, its highest since July, sparking a rally in other cryptocurrencies and related equities.
UK’s ultra-rich non-doms urge Italian-style tax regime to prevent wealth exodus
Britain’s ultra-rich non-doms are urging the government to introduce an Italian-style flat-tax regime to prevent a wealth exodus as their preferential status comes under threat in the budget.
Amazon goes nuclear, to invest more than $500 million to develop small modular reactors
Amazon is the latest large tech company to buy into nuclear power to fuel the growing demands from data centers.
ASML just gave us a first glimpse into how U.S. chip export curbs will dent its China sales
ASML on Tuesday offered the first glimpse into how U.S. restrictions on exports of its advanced chip manufacturing tools to China will impact its sales in the Asian country.
Airbus to cut up to 2,500 jobs in defense and space
Airbus announced plans on Wednesday to cut up to 2,500 jobs in its Defence and Space division, citing a “complex business environment.”
Generative AI startups get 40% of all VC investment in cloud amid ChatGPT buzz
Venture capital firm Accel says that funding for cloud startups is set to rise 27% in 2024 thanks to a boost from AI — the first year of growth in three years.
LVMH falls 6% as third-quarter revenues drop; European markets trade lower
European markets opened lower Wednesday as global market sentiment takes a turn for the worse.
Hong Kong leader announces measures to address housing crisis in annual policy address
Hong Kong Chief Executive John Lee announced a series of measures aimed at addressing the city’s housing affordability crisis during an annual policy address.
Thai central bank unexpectedly cuts key rate by 25 basis points
Thailand’s central bank unexpectedly cut its key interest rate at a policy review on Wednesday, a move long called for by the government amid a sluggish economy.
