Larry Fink says the Fed won’t cut interest rates as much as markets expect this year
“I do believe we have greater embedded inflation in the world than we’ve ever seen,” Fink said.
BP shares fall to lowest since 2022 after sharp drop in the oil major’s third-quarter profit
British oil major BP on Tuesday reported its weakest quarterly earnings in nearly four years, weighed down by a slump in crude prices.
CNBC Daily Open: Stocks are approaching the hottest period of the year
Markets also like November because the month brings heat. It’s historically the best month for stocks, and ushers in strong seasonal performance.
European markets turn negative; HSBC shares tick up 4% as earnings beat expectations
European markets turned negative Tuesday afternoon, as traders in the region continued to digest the latest slew of earnings reports.
ByteDance founder tops China’s rich list for the first time, beating Tencent and Nongfu heads
ByteDance founder Zhang Yiming is now China’s richest for the first time, according to Hurun Research Institute’s China Rich List.
HSBC announces fresh $3 billion share buyback as third-quarter earnings beat expectations
Pre-tax profit came in at $8.5 billion, a 10% rise from the $7.7 billion posted a year ago.
Japan’s political instability could cloud economic policy, herald ‘revolving door’ of prime ministers
Analysts predict a short tenure for Prime Minister Shigeru Ishiba, with one noting that Japan could return to an era of “revolving door” prime ministers.
CNBC Daily Open: Stocks are entering the hottest period of the year
Markets also like November because the month brings heat. It’s historically the best month for stocks, and ushers in strong seasonal performance.
U.S. finalizes rules to curb AI investments in China, impose other restrictions
The U.S. said it is finalizing rules Monday to limit U.S. investments in AI and other technology sectors in China that could threaten U.S. national security.
China launches new lending tool before year-end loan expiry
The PBOC launched a new lending tool on Monday to inject more liquidity into the market ahead of trillions of yuan in loans expiring at the end of the year.
