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Thu, Dec 18, 2025 02:23 PM All times are UTC

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China’s Stock Market Rally Forces Hedge Funds to Unwind Short Positions

Oct 17, 2024 07:09 am UTC| Economy

Chinas Stock Market Rally Upends Hedge Funds Chinas sudden stock market rally in late September caused significant disruptions for major hedge funds, forcing them to cover short positions and absorb losses. The rapid...

Gold Near Record Highs as Treasury Yields Fall, Copper Struggles Amid Disappointing China Stimulus

Oct 17, 2024 06:45 am UTC| Economy

Gold Prices Rise Amid Lower Yields, Rate Cut Expectations Gold prices continued their upward trajectory on Thursday, nearing record highs as declining U.S. Treasury yields and anticipated interest rate cuts by major...

TSMC Reports Strong Q3 Profit, Driven by AI Demand and 3nm Chip Sales

Oct 17, 2024 06:34 am UTC| Economy

TSMCs Q3 Profit Exceeds Expectations Amid Strong AI Demand Taiwan Semiconductor Manufacturing Company (TSMC) the worlds largest contract chipmaker, posted stronger-than-expected earnings for the third quarter, driven by...

McKinsey Restructures China Operations, Cuts 500 Jobs Amid Security Concerns

Oct 17, 2024 05:23 am UTC| Economy

McKinsey Company, a leading U.S.-based consulting firm, is undergoing a significant restructuring of its China operations. The firm has recently reduced its workforce in the region by approximately 500 jobs, or nearly...

Oil Prices Rebound as U.S. Inventories Shrink, Middle East Tensions Loom

Oct 17, 2024 05:14 am UTC| Economy

Oil Prices Rise Amid Shrinking U.S. Inventories Oil prices rebounded on Thursday in Asian trade, recovering from recent steep losses. The rise followed industry data showing an unexpected drop in U.S. oil inventories,...

Meta Announces New Layoffs in WhatsApp, Instagram, and Reality Labs Amid Ongoing Restructuring

Oct 17, 2024 04:56 am UTC| Economy

Meta Begins Layoffs in WhatsApp, Instagram, and Reality Labs Amid Reorganization Meta Platforms Inc., the parent company of Facebook, has started laying off employees across key departments, including WhatsApp,...

Asian Currencies Steady as Markets Await China Stimulus and Trump Trade Impact

Oct 17, 2024 04:48 am UTC| Economy

Asian Currencies Stabilize as Markets Await China Stimulus Most Asian currencies remained stable on Thursday, as investors awaited clearer signals on potential financial stimulus from China. Meanwhile, the U.S. dollar...

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Economy

Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks

Oil prices extended their gains during Asian trading on Thursday as geopolitical tensions involving Venezuela and Russia heightened concerns over global crude supply. Market sentiment was boosted after U.S. President...

Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets

Asian shares fell sharply on Thursday as technology stocks came under renewed pressure, driven by growing investor concerns over heavy artificial intelligence spending and its impact on corporate balance sheets. Market...

Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React

The U.S. dollar remained steady against major global currencies on Thursday as investors positioned themselves ahead of key central bank decisions in the United Kingdom, Europe and Japan. Currency markets showed cautious...

BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited

The Bank of England is widely expected to cut interest rates on Thursday as signs mount that UK inflation is easing and economic growth is weakening. Financial markets anticipate a 25-basis-point reduction, bringing the...

U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data

U.S. stock index futures inched higher on Wednesday evening, supported by blowout earnings and strong guidance from Micron Technology, although broader gains remained limited as investors stayed cautious ahead of key U.S....

Politics

Trump Announces $1,776 Cash Bonus for U.S. Military Personnel Ahead of Christmas

U.S. President Donald Trump announced Wednesday evening that eligible U.S. military personnel will receive a one-time cash payment of $1,776, a move he described as a special warrior dividend timed ahead of Christmas. The...

U.S. House Advances GOP Healthcare Bill as ACA Subsidies Near Expiration

A major U.S. federal healthcare subsidy expanded during the COVID-19 pandemic is set to expire at the end of the year after the House of Representatives narrowly advanced a Republican healthcare bill that does not renew...

U.S. Initiates $11.1 Billion Arms Sale to Taiwan Amid Rising China Tensions

Taiwans defence ministry announced on Thursday that the United States government has formally initiated the congressional notification process for a proposed $11.1 billion arms sale to Taiwan, underscoring Washingtons...

Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies

A union-aligned investment group has urged major U.S. corporations including Amazon, Walmart and Google-parent Alphabet to explain how President Donald Trumps immigration policies are affecting their finances, workforce...

Venezuela Seeks UN Security Council Meeting Over U.S. Oil Tanker Blockade

Venezuela has formally requested an urgent meeting of the United Nations Security Council to address what it described as ongoing U.S. aggression against the country, according to a letter seen by Reuters. The request...

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

Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law

Apple has announced a major shift in its App Store policies in Japan, opening iPhones and other Apple devices to alternative app stores in order to comply with new competition laws aimed at reshaping the countrys...

Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand

Micron Technology delivered record first-quarter results and issued a bullish forecast for the current quarter, driven by rising memory prices and strong demand linked to artificial intelligence workloads. The upbeat...

Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track

Oracle shares fell more than 4% on Wednesday after a Financial Times report claimed that Blue Owl Capital, Oracles largest U.S. data center partner, decided not to support a planned $10 billion data center project in...

OpenAI Explores Massive Funding Round at $750 Billion Valuation

OpenAI, the company behind the widely used AI chatbot ChatGPT, has reportedly entered preliminary discussions with investors about a potential new funding round that could value the company at approximately $750 billion....

Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools

Republican lawmakers are raising alarms over potential U.S. national security risks after a Reuters report revealed that Intel evaluated advanced chipmaking equipment from ACM Research, a company with significant ties to...