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President Trump: A new chairperson of the Federal Reserve will be selected soon, and the new Fed chairperson may be inclined to push interest rates down. Inflation is completely contained, and we don't want deflation. Deflation is worse than inflation in many ways.
Strategists at UBS Global Wealth Management said in a note that the dollar is likely to weaken as US data next week is expected to show weakness. Key data include retail sales, consumer confidence and existing home signings on Tuesday, followed by durable goods orders, weekly jobless claims and new home sales on Wednesday. Strategists pointed out that the data will affect market expectations for economic growth, inflation and Federal Reserve policy. "We still expect the upcoming data to be soft ...
Speaking at the Mesa Sands Investment Forum at the Kennedy Center on November 20, Trump said he would love to fire Federal Reserve Chairperson Jerome Powell, but Treasury Secretary Scott Bescent stood in his way. Trump urged Bescent to "convince" Powell to lower interest rates as soon as possible, and threatened to fire Bescent if the Fed didn't cut rates. "You have to convince him that the only thing Scott messed up is the Fed. Because Fed interest rates are too high, Scott. If you don't fix th...
Apex Group, a financial services provider with more than $3 trillion in assets under management, is to acquire Globacap, a London-based investment platform with a US-regulated broker licence, according to two people familiar with the matter. The acquisition will help Apex promote regulated fund tokenisation projects in the US. In March, UK-based cryptocurrency exchange Archax said it would buy Globacap's US unit. But the deal failed to close, with new bidders emerging, according to a recent repo...
On October 30th, Google's parent company Alphabet (GOOG. O) announced its third-quarter results, with revenue rising 16% year-on-year to a record $102.30 billion, beating analysts' expectations. Thanks to the growth of its digital advertising and cloud computing business, the company has provided ample funds for large-scale artificial intelligence investments. Net profit was about $35 billion, up 33% year-on-year. The company's shares rose about 7% at one point in after-hours trading. Like other...
On October 30, it was reported that Fight Fight LLC, the publisher of Trump's co-branded memecoin, is in talks to acquire the US business of crowdfunding platform Republic. If the deal goes through, the token could be further promoted in startups' fundraising and payment applications. Republic has supported multiple fundraising transactions, provided real-world asset (RWA) tokenization services, and supported the participation of qualified investors and retail investors. Its investors include th...
Google parent company Alphabet (GOOG. O) reported third-quarter results, with revenue rising 16% year-on-year to a record $102.30 billion, beating analysts' expectations. Thanks to the growth of its digital advertising and cloud computing businesses, the company has well-funded a large-scale artificial intelligence investment. Net profit was about $35 billion, up 33% year-on-year. The company's shares rose about 7% at one point in after-hours trading. Like other tech giants, Google is investing ...
The price of PancakeSwap's native token remains mostly unaffected as experts blame the attack on phishing and weak security.
Hayao Takaichi, who is expected to become Japan's first female prime minister, has appointed Shunichi Suzuki, the former finance minister, as the new secretary-general of the ruling party, in a move seen as an attempt to quell concerns about fiscal discipline. Takayuki Kobayashi, who previously ran against Takaichi in the party leadership election and supported her in the run-off round, has been appointed as the chairman of the Liberal Democratic Party's policy survey; Yukiko Arimura, a former f...
