According to a report released on January 1, Saudi Arabia’s Public Investment Fund contributed around 25% of the nearly $124 billion invested globally by sovereign wealth funds in the previous year. Preliminary annual report from industry specialist Global SWF, which tracks global sovereign investment funds, shows that PIF spent a staggering $31.5 billion in 2023,…
As China’s erratic economic recovery hampered a wider rebound in demand, Asia’s factory activity contracted in December, indicating a wobbly start for the region’s manufacturing heavyweights in 2024. A variety of purchasing managers’ indices (PMIs) released by S&P Global on Tuesday revealed that, in most Asian economies, manufacturing activity was still down at the end…
Massive inflows into US equities funds occurred in the week leading up to December 27, supported by anticipation of an early rate drop by the Federal Reserve following data indicating further cooling of inflation in November. Investors bought U.S. stock funds for a net total of $14.57 billion during the week, which was the largest…
A fresh lawsuit against accounting firm EY seeks damages of 1.5 billion euros ($1.66 billion) for the company’s involvement in Wirecard’s book audits prior to the German payments company’s collapse in 2020. According to a court spokesperson on Friday, Wirecard’s insolvency manager, Michael Jaffe, filed the lawsuit at a Stuttgart court. It is one of…
Certain corporations are currently discovering the boundaries of their pricing power following years of unrestrained consumer spending on anything from fantasy trips to house renovations. The transportation behemoth FedEx claimed last week that consumers are choosing less expensive, faster shipping alternatives. In the autumn, airlines, like Southwest, offer lower off-peak tickets. As more consumers scrutinise…
Financial markets indicate that interest rates will remain high for years to come, so borrowers hoping for relief from higher rates may be disappointed. Money market pricing, regardless of how much they decline in 2024, underscores the belief that, as long as inflationary pressures and government expenditure remain elevated, the decade of nearly zero interest…
The ChatGPT-like artificial intelligence product Ernie bot, developed by Chinese internet company Baidu, has more than 100 million users, according to the company. In U.S. trade, Baidu shares closed 3% higher, maintaining a modest increase in the stock for 2023. The Ernie bot user numbers were not disclosed by the corporation as to whether they…
Pay TV had yet another difficult year as more consumers choose to cut their cable. However, it wasn’t exactly kind to streaming services either, as they had to contend with dropping ad revenue, declining member numbers, and unwavering losses while Netflix remained the industry leader. However, the era of cable bundles is ending and being…
As a result of the sportswear giant cutting NIke its annual sales prediction and sending shares plunging 11%, according to analysts, Nike is beginning to lose market share to upstart shoe labels like On and Hoka and will need to invest in more fashionable models. The creator of the Air Jordan 1 sneaker mostly attributed the negative outlook…
A ban limiting the amount of popular Apple Watches that may be imported into the US has gone into force. Here are some consumer implications of the prohibition as well as Apple’s future plans. Why was there a ban? Apple was ordered by the U.S. International Trade Commission in October to cease importing and selling…
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