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FxWirePro: PNB/Modi scandal unravels in India; PMO failed to take action despite warning

Feb 16, 2018 05:05 am UTC| Commentary

A major financial scandal is unraveling in India involving the countrys second biggest state-owned lender Punjab National Bank and businessman Nirav Modi, as well as Gitanjali Gems. The scandal came to highlight earlier...

JGBs rise in muted trading as Asian markets remain shut on eve of Chinese Lunar New Year holidays

Feb 16, 2018 04:58 am UTC| Commentary Economy

Japanese government bonds rose during early Asian session Friday amid a silent trading day that witnessed no data of any primary economic significance, following a shutdown in major Asian markets on the occasion of Chinese...

FxWirePro: The Day Ahead- 16th February 2018

Feb 16, 2018 04:02 am UTC| Commentary

Not many economic data and events scheduled for today, and all with low to medium volatility risks associated. Upcoming: Germany: Wholesale price inflation report will be released at 7:00 GMT. United Kingdom:...

Australian bond yields surge following weakness in U.S. Treasuries; RBA February meeting minutes in focus

Feb 16, 2018 03:31 am UTC| Commentary Economy

Australian bonds slumped on the last trading day of the weekFridayfollowing weakness in the U.S. Treasuries, which hovers around 4-year high. Also, investors remain optimistic ahead of the Reserve Bank of Australia (RBA)...

U.S. homebuilder confidence remains stable at 70 in January, housing activity to trend upwards

Feb 15, 2018 21:35 pm UTC| Commentary

The U.S. homebuilder confidence remains stable in February. The NAHB housing market index remained stable at 72 in February, coming in above the expected 70. The present expectation of single-family home sales dropped...

U.S. Philadelphia Fed Manufacturing index rises in February, sentiment remains strong in region

Feb 15, 2018 21:34 pm UTC| Commentary

The Philadelphia Feds Manufacturing Index rose in the month of February. The index rose from 22.2 to 25.8, coming in above the consensus expectations of 20. The rebound was mainly driven by an increase in new orders,...

U.S. jobless claims rise slightly, but labor market conditions remain strong

Feb 15, 2018 21:33 pm UTC| Commentary

U.S. weekly jobless claims rose slightly. In the week ended 10 February, jobless claims rose to 230k from 223k, as compared with consensus expectations of 228k. In spite of the rise, the four-week moving average came in at...

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Economy

Russia Condemns U.S. Sanctions as Cuba Faces Critical Fuel Crisis

Russia has warned that Cubas fuel situation has reached a critical point, blaming intensified U.S. sanctions for deepening the islands economic crisis and pledging continued solidarity with Havana and Caracas. Moscow also...

U.S. Stock Futures Steady as Investors Await Key Jobs and Inflation Data

U.S. stock futures were little changed on Monday evening as investors grew cautious ahead of key economic data releases later this week, following a mostly positive close on Wall Street. Futures tied to the SP 500 slipped...

Gold Prices Slip in Asian Trade as Markets Await Key U.S. Economic Data

Gold prices declined in early Asian trading on Tuesday, pulling back from strong gains seen in the previous session, as investors remained cautious ahead of a series of important U.S. economic indicators due later this...

Oil Prices Dip as Hormuz Tensions, Iran Talks, and Russia Sanctions Shape Market Outlook

Global oil prices edged lower on Tuesday as investors weighed geopolitical risks in the Middle East against ongoing diplomatic efforts and fresh developments in global energy trade. Brent crude futures slipped 25 cents, or...

Asian Stocks Rise as Japan Rally, AI Optimism and Fed Outlook Shape Markets

Asian stocks extended gains for a second straight session in early Tuesday trading, led by a powerful rally in Japan following Prime Minister Sanae Takaichis decisive election victory over the weekend. The result boosted...

Politics

Hong Kong Leader Defends 20-Year Sentence for Jimmy Lai

Hong Kong Chief Executive John Lee said on Tuesday that media tycoon and prominent democracy campaigner Jimmy Lai deserved the 20-year prison sentence imposed by a court earlier this week, arguing that the punishment...

Trump Administration Plans Chip Tariff Exemptions for Big Tech Amid AI Data Center Push

The administration of U.S. President Donald Trump is reportedly planning to exempt major technology companies such as Amazon, Google, and Microsoft from upcoming tariffs on semiconductor chips, a move aimed at supporting...

U.S. Appeals Court Allows Trump Administration to End TPS for Honduras, Nepal, Nicaragua Migrants

A U.S. appeals court in California on Monday temporarily lifted a federal judges order that had blocked the Trump administration from ending Temporary Protected Status (TPS) for nearly 89,000 migrants from Honduras, Nepal...

Trump Threatens to Block Gordie Howe Bridge, Escalating U.S.-Canada Trade Tensions

U.S. President Donald Trump has threatened to prevent the opening of the $4.6 billion Gordie Howe International Bridge linking Detroit, Michigan, and Windsor, Ontario, escalating an already tense trade dispute between the...

Australian Leaders Call for Calm After Sydney Protests Turn Violent

Australian political leaders have urged calm and called for peaceful demonstrations after protests opposing Israeli President Isaac Herzogs visit to Australia escalated into violent clashes with police in central Sydney....

Science

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

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...

Technology

Salesforce Workforce Reduction Affects Fewer Than 1,000 Roles Amid Ongoing Restructuring

Salesforce has reportedly reduced its workforce by fewer than 1,000 employees earlier this month, according to a Business Insider report published on Monday. The report cited a person familiar with the matter, though...

Alphabet Plans Rare 100-Year Sterling Bond to Fund AI Expansion

Alphabet is preparing to issue a rare 100-year sterling bond as part of a broader multi-currency debt offering, marking a notable move to expand its long-term borrowing strategy to support growing investments in artificial...

Amazon Explores AI Content Marketplace With Media Publishers

Amazon (NASDAQ: AMZN) is reportedly in discussions with media publishers about launching a new artificial intelligence content marketplace designed to connect news organizations and digital content creators with companies...

Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible

Taiwan has firmly rejected calls from the United States to relocate a large portion of its semiconductor manufacturing capacity, with senior officials stressing that the islands chip industry cannot be uprooted. Taiwan...

Samsung Electronics Shares Jump on HBM4 Mass Production Report

Samsung Electronics shares surged on Monday following reports that the South Korean tech giant is set to begin mass production of its next-generation HBM4 memory chips, a key component in artificial intelligence hardware....