In a shocking turn of events, the fallout from Saturday’s surprise attack on Israel by the Palestinian group Hamas has sent shockwaves through Middle East markets, triggering a sharp decline in stocks and setting the stage for a week of potential volatility. On Sunday, major equity indices across the region experienced substantial losses, with Israel’s […]

Rivian Automotive Inc (RIVN.O) witnessed a substantial drop in its stock value, plummeting over 20% on Thursday, marking its most significant daily percentage decline since May of the previous year. This decline was triggered by the company’s recent revelation of its intent to issue $1.5 billion in convertible green bonds. Based in Irvine, California, Rivian […]

In a significant policy shift, South Korea has lifted the cap on commercial banks’ bond sales that was imposed during last year’s credit crunch. The move is aimed at ensuring adequate funding for the country’s financial sector amidst ongoing challenges. The decision was confirmed by the Financial Services Commission, in response to a Korea Economic […]

UBS Group AG has reached a significant settlement with Mozambique concerning Credit Suisse’s involvement in a ship-financing scandal, bringing closure to a decade-long legal battle just on the brink of a London trial. In a statement released today, Zurich-based UBS revealed that the settlement extends to most of the other lenders who were part of […]

The World Bank has made significant downward revisions to China’s growth outlook for 2024, reflecting concerns raised by a series of weak economic indicators. This adjustment, from the previously projected 4.8% in April to the current 4.4%, underscores mounting apprehensions regarding China’s economic slowdown and its potential ripple effects across Asia. China’s economy faces notable […]

In a groundbreaking development, OneChronos, a technology company specializing in harnessing cutting-edge auction theory and artificial intelligence (AI) to revolutionize financial markets, has announced the successful completion of its Series B investment round, securing an impressive $40 million in funding. This remarkable financing round was spearheaded by Addition, a move that has garnered significant attention […]

Binance, the world’s largest cryptocurrency exchange, has announced its exit from the Russian market. The exchange plans to cease all exchange services and business operations in the country over the coming months. This move follows the sale of its assets to CommEX, a venture that emerged just a day ago, for an undisclosed sum. Unlike […]

Oil prices saw a substantial 3% surge, nearing $100 a barrel, hitting a fresh 10-month high on Wednesday. The rally was ignited by concerns over tightening global crude supplies, with lower-than-expected US stockpiles adding to the bullish sentiment. Brent crude, the international benchmark, reached as high as $97.06 per barrel, marking its highest intraday level […]

In a landmark development, DWS, the German asset manager majority-owned by Deutsche Bank, has agreed to pay a substantial $25 million to resolve two separate enforcement actions brought by the United States Securities and Exchange Commission (SEC). These actions are the culmination of a more than two-year-long investigation into allegations of greenwashing, which have cast […]

In a dramatic shift, hedge funds are scrambling to unwind their bets against Britain’s £2.5tn government bond market. This comes as growing investor consensus suggests that the Bank of England (BoE) is nearing the conclusion of its rate hiking campaign. The latest data from S&P Global Market Intelligence reveals that the total value of UK […]