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Vanguard, a leading mutual fund manager, revealed that it has provided support for only 2% of shareholder resolutions focused on environmental and social concerns at U.S. companies in the current year. This represents a significant decline from the 12% support it extended in the previous year. The decrease in backing has contributed to an overall […]

In a significant move aimed at revitalizing investor confidence in its second-largest equity market, China has taken the decision to lower the stamp duty on stock trades for the first time since 2008. The announcement, made by the government in an official statement on Sunday, reveals that the reduction will take effect from August 28. […]

In a significant development, global financial services provider Mastercard (MA.N) and renowned cryptocurrency exchange Binance have announced the discontinuation of their joint crypto card initiatives across various countries. Effective September 22, the four crypto card programs operating in Argentina, Brazil, Colombia, and Bahrain will be terminated, as confirmed by a spokesperson from Mastercard in a […]

Qatar’s sovereign wealth fund, the Qatar Investment Authority (QIA), is poised to inject $1 billion into the retail division of Indian billionaire Mukesh Ambani’s conglomerate, valuing the retail unit at an impressive $100 billion. This move underscores the increasing engagement of Gulf investors in India’s rapidly expanding economy. Reliance Retail Ventures Limited, a subsidiary of […]

US stocks experienced a downturn on Tuesday, largely driven by a slump in the banking sector, as investors considered recent ratings downgrades and looked ahead to the forthcoming Jackson Hole economic conference. The S&P 500, a key measure of Wall Street’s performance, concluded the day with a 0.3% decline, primarily influenced by a drop in […]

In response to mounting anxieties among investors regarding prolonged inflation and elevated interest rates, mortgage rates experienced a sharp increase on Monday, fueled by a surge in bond yields. According to data from Mortgage News Daily, the average rate for the widely favored 30-year fixed mortgage soared to 7.48%, marking its most elevated level since […]

In a significant move indicating a shift in economic strategy, Turkey has embarked on the initial stages of dismantling a $125 billion program designed to shield savers from the impact of lira depreciation. This change marks the latest departure from the unconventional economic policies that had negatively affected the nation’s financial health, attributed to President […]

In a move that reverberates across the cryptocurrency landscape, Binance has announced the imminent shutdown of its buy-and-sell service, Binance Connect, previously known as Bifinity. This decision comes merely a year after its inception, showcasing the dynamic nature of the crypto industry. The closure is scheduled for August 16, marking a strategic shift by the […]

Switzerland’s banking giant, UBS, has taken a significant step to resolve a longstanding legal battle, agreeing to pay a substantial $1.4 billion settlement in connection with alleged misrepresentation of bonds backed by mortgages. The bonds, sold in the years leading up to the 2008 financial crisis, have been at the center of a comprehensive investigation […]

Buenos Aires, August 14, 2023 – Argentina’s currency and stock markets experienced mounting pressure as an unexpected turn of events unfolded in the country’s primary election. A far-right libertarian candidate, advocating for the abolition of the central bank and the implementation of a dollarized economy, emerged victorious, sending shockwaves through financial markets. Javier Milei, an […]