The European stock market experienced a sharp decline on Friday, capping off a turbulent week for investors. The Stoxx 600 index opened slightly higher but quickly took a nosedive, ending the day with a 0.9% loss in London. This downward trend has put the regional benchmark on track for one of its worst weeks in
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The fintech industry is currently experiencing a significant shift in market dynamics, with many industry insiders believing that the sector has reached a “bottom.” The days of unsustainable high valuations and reckless venture capital investments in startups with unproven business metrics and fundamentals are seemingly a thing of the past. Iana Dimitrova, CEO of OpenPayd,
Recent reports from Bloomberg have shed light on the possibility that the United States may take further steps to limit China’s access to crucial chip technology essential for the advancement of artificial intelligence. The Biden administration is said to be contemplating actions that would specifically target the high-tech chip architecture known as gate all-around (GAA).
Singapore has been identified by the World Gold Council as the next leading gold hub as the market shifts towards the east. The increase in gold consumption in major emerging economies, particularly in Asia, is a key factor driving this shift. Shaokai Fan, head of Asia-Pacific and global head of central banks, emphasized the importance
The recent European Union election results have sparked concern for German Chancellor Olaf Scholz as the far-right party, AfD, has made significant gains despite facing various scandals. The AfD’s success in securing 15.9% of the vote has surpassed Scholz’s SPD along with their coalition partners, the Greens and the FDP. This outcome has intensified the
The European Union elections have been underway, with millions of voters expected to cast their ballots. From age requirements to voting systems, there are many factors that go into these elections that determine the composition of the European Parliament. With growing support for far-right parties and changing priorities within the EU, these elections are crucial
Norway’s $1.7 trillion sovereign wealth fund has taken a bold stand against ratifying Tesla CEO Elon Musk’s $56 billion pay package. Despite being Tesla’s eighth-biggest shareholder, the fund has decided to vote against the controversial compensation plan, which was previously invalidated by a Delaware judge earlier this year. The fund’s operator, Norges Bank Investment Management
In May, the U.S. economy surprised analysts by adding 272,000 jobs, significantly exceeding the expected 190,000 jobs. This unexpected increase is a positive sign for the labor market and indicates a potential slowdown in the Federal Reserve’s plans to lower interest rates. However, despite this positive news, the unemployment rate rose to 4%, the first
Scientist Lee Seok Woo found inspiration for his groundbreaking invention in an unexpected place – a “Mission Impossible” movie. The scene in the movie where an agent wears contact lenses with facial recognition and eye tracking capabilities sparked an idea in Lee’s mind. As an associate professor at Nanyang Technological University’s School of Electrical and
While the saying “A diamond is forever” has long been associated with the timeless allure of diamonds, it seems that consumers are now shifting their preferences towards lab-grown alternatives, gold, and colored gemstones. The once powerful diamond giant, De Beers, is facing challenges as the demand for diamonds declines in key markets such as China.