In July 2023, the Chinese government unveiled an ambitious plan aimed at revitalizing consumer spending, particularly through an expansive trade-in and equipment upgrade initiative. With a budget of 300 billion yuan (approximately $41.5 billion) allocated in ultra-long special government bonds, this program seeks to subsidize the trade-in of high-value items like vehicles and home appliances.
Finance
Dutch challenger bank Bunq has revealed its ambitious plans to grow its global headcount by 70% in 2024, reaching over 700 employees. The company, operating in various markets across the European Union, aims to expand into new regions such as the U.K. and the United States to compete with established fintech players like Monzo, Revolut,
In a recent development, a top Federal Reserve official has announced significant changes to a proposed set of U.S. banking regulations. These changes aim to reduce the extra capital that the largest institutions will be required to hold, thereby altering the landscape of financial oversight in the country. The original regulatory overhaul, known as the
JPMorgan Chase shares took a significant hit on Tuesday following a statement made by the bank’s president, Daniel Pinto, regarding the expectations for net interest income (NII) and expenses in 2025. Pinto expressed his skepticism about the optimistic estimates for the upcoming year, particularly in light of potential interest rate cuts by the Federal Reserve.
There is a hotly divided opinion within the market regarding the Federal Reserve’s forthcoming meeting. Traders are now pricing in around a 75% chance of a 25 bps rate reduction in September, while 25% are pricing in a 50 bps lowering. A disappointing jobs print on Friday stoked fears of a slowing labor market and
The former CEO of British chip design firm Arm, Warren East, recently spoke out about the challenges the U.K. faces in commercializing technology businesses on a global scale. He highlighted the fact that many successful firms in the U.K. tend to either move their operations abroad or list on stock exchanges in other countries, such
China recently reported that its consumer price index rose by 0.6% year on year in August, which was below expectations. This increase was primarily driven by rising food prices, as food prices climbed by 2.8% year on year in August. However, other sectors such as transportation, home goods, and rents experienced a decline in costs.
Seven & i Holdings recently rejected a takeover offer from Canadian convenience store operator Alimentation Couche-Tard. The company made this decision after evaluating the offer and determining that it was not in the best interest of its shareholders and stakeholders. The offer made by Couche-Tard was to acquire all outstanding shares of Seven & i
In 2024, exchange-traded fund inflows have exceeded monthly records, indicating strong investor interest in this market. The surge in inflows is largely attributed to the significant growth in money market funds, with over $6 trillion currently parked in these funds. Market experts believe that this influx of capital could have a substantial impact on ETF
China’s former head of the People’s Bank of China, Yi Gang, emphasized the importance of prioritizing domestic demand in order to combat deflationary pressures during his speech at the Bund Summit in Shanghai. He pointed out that the key to improving the situation lies in addressing the real estate market as well as local government