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Renminbi Series: China suffers one notch downgrade from Moody’s

May 24, 2017 05:21 am UTC| Commentary Economy

The rating agency Moodys has downgraded Chinas sovereign credit rating from Aa3 to A1, which is the fourth highest rating in Moodys credit scale. After the downgrade, it changed the outlook from negative to stable. Marie...

BoK likely to maintain policy rate at 1.25 pct, seeking to balance between financial stability and economic growth: Scotiabank

May 24, 2017 04:45 am UTC| Commentary Central Banks Economy

The Bank of Korea (BoK) is expected to leave its policy rate unchanged at 1.25 percent at its monetary policy meeting, scheduled to be held on Thursday morning, seeking a balance between the nations financial stability and...

FxWirePro: The Day Ahead- 24th May 2017

May 24, 2017 04:41 am UTC| Commentary Economy Central Banks

Lots of economic data and events scheduled for today and some with high volatility risks associated. Data released so far: Australia: Westpac leading index declined 0.1 percent in April. Construction work done in...

Australian bonds plunge tracking weakness in U.S. Treasuries post 2-year auction

May 24, 2017 03:52 am UTC| Commentary Economy

The Australian bonds plunged Wednesday tracking weakness in the United States counterpart after a solid supply at the 2-year debt auction held late yesterday. Also, with members of the OPEC set to meet in Vienna this...

German Ifo business climate index rises in May, economy likely to expand strongly in Q2

May 23, 2017 23:07 pm UTC| Commentary Economy

The Ifo business climate for Germany has surprised on the upside in May, coming to the highest level seen since German unification. The Ifo business index rose to 114.6 from 113, as compared with consensus expectations of...

Eurozone composite PMI held at 6-year high in May, suggests Q2 growth could surprise on the upside

May 23, 2017 10:22 am UTC| Insights & Views Economy

Eurozone PMI preliminary flash estimate data released earlier on Tuesday showed that Eurozone economy has maintained its excellent momentum in May. IHS Markits Flash Composite Purchasing Managers Index for May, seen as a...

Why thinking beyond money is vital for solving the poverty puzzle

May 23, 2017 09:23 am UTC| Insights & Views Economy

According to the OECD, development aid recently reached a new peak of $US142.6 billion a year. But international assistance that aims to alleviate poverty can have undesirable, and often unintended consequences on both...

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Economy

IMF Reaches Staff-Level Agreement With Egypt, Opening Path to $3.8 Billion in Funding

The International Monetary Fund (IMF) has announced that it reached a staff-level agreement with Egypt on the fifth and sixth reviews of the countrys Extended Fund Facility (EFF), a key step that could unlock around $2.5...

RBA Signals Possible Interest Rate Hike in 2026 as Inflation Pressures Persist

The Reserve Bank of Australia (RBA) has revealed that its board members discussed the possibility of raising interest rates in 2026, according to the minutes from the central banks December policy meeting. The discussion...

Wall Street Ends Higher as S&P 500, Nasdaq Extend Gains Ahead of Holiday Week

U.S. stock markets closed higher on Monday, extending recent gains as investors look to finish the year on a strong note despite thinning trading volumes in a holiday-shortened week. The SP 500 rose 0.5% by the closing...

Global Markets Rise as Tech Stocks Lead, Yen Strengthens, and Commodities Hit Record Highs

Global financial markets started a holiday-shortened week on a positive note, with most major stock indexes posting gains as technology stocks rebounded and investor sentiment improved. Wall Street was supported by...

Platinum Price Surges Past $2,000 as Demand and Supply Dynamics Tighten

Platinum prices surged sharply at the start of the week, rallying more than 4.6% on Monday to break above the $2,000 per ounce level for the first time since 2008. The move marks a 17-year high for the precious metal and...

Politics

Trump Administration Recalls Nearly 30 U.S. Ambassadors in Push for “America First” Agenda

The Trump administration has recalled nearly 30 U.S. ambassadors and senior career diplomats from overseas posts, a move officials say aligns embassies more closely with the presidents America First foreign policy, but...

Australia Moves Toward Tougher Gun Laws After Bondi Shooting

Australias most populous state, New South Wales, is set to introduce significantly tougher gun laws alongside new measures targeting terrorism and public protests, following a deadly mass shooting in Sydneys Bondi area....

Trump Announces Ambitious Plan for New U.S. Navy Super Battleships

U.S. President Donald Trump announced on Monday an ambitious proposal for the United States Navy to begin building a new class of advanced battleships, a move that could significantly reshape the future of American naval...

China’s Nuclear Expansion Raises Arms Control Concerns as Pentagon Report Warns of Growing Military Ambitions

China is rapidly expanding and modernizing its nuclear weapons arsenal, with a draft Pentagon report warning that Beijing may have loaded more than 100 intercontinental ballistic missiles (ICBMs) across three newly...

Kremlin Downplays U.S.-Russia Talks on Ukraine as Ongoing Process

Russia has played down expectations surrounding recent discussions with the United States on the Ukraine conflict, emphasizing that the talks should not be interpreted as a major diplomatic breakthrough. Kremlin spokesman...

Science

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement

The U.S. Federal Trade Commission has welcomed Instacarts decision to end its artificial intelligence-based price testing, a move that follows weeks of consumer backlash and regulatory scrutiny. FTC Chair Andrew Ferguson...

John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training

Investigative journalist John Carreyrou, widely known for exposing fraud at Silicon Valley blood-testing startup Theranos and for authoring the bestselling book Bad Blood, has filed a new copyright infringement lawsuit...

Italy Fines Apple €98.6 Million Over App Store Dominance

Italys competition authority has imposed a 98.6 million ($115.53 million) fine on U.S. technology giant Apple and two of its subsidiaries, citing alleged abuse of a dominant market position related to the distribution of...

Moore Threads Unveils New GPUs, Fuels Optimism Around China’s AI Chip Ambitions

Moore Threads Technology Co Ltd (SS:688795), often described as Chinas potential alternative to NVIDIA Corporation (NASDAQ: NVDA), attracted investor attention after unveiling a new lineup of graphics processing units at...

U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties

A group of nine Republican U.S. lawmakers has formally urged the Pentagon to expand its list of Chinese companies accused of supporting Chinas military, intensifying scrutiny of Beijing-linked technology firms amid rising...