Berkshire Hathaway, the conglomerate led by renowned investor Warren Buffett, has reported a significant surge in operating earnings in the first quarter of the year. The operating profit of $11.22 billion represents a 39% increase from the previous year, driven primarily by a rise in insurance underwriting earnings. This strong performance has propelled Berkshire’s Class
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The crypto market capitalization has seen a 2% increase over the past week, with a significant 13% upsurge from the lows of early May. The market witnessed a slight bottom formation followed by a modest rebound, and eventually, more robust buying after the release of the monthly US jobs report. However, this growth faced resistance
The USDJPY currency pair has been experiencing a downward trend recently, slipping below 153 on Friday morning. This three-week low marks a loss of over 4.5% from its peak of 160.2 at the beginning of the trading week. One of the fundamental factors driving this movement is the significant and widening interest rate differential between
The relationship between the Chinese economy and the Australian Dollar (AUD) is a complex and significant one. The latest data published by Caixin shows that China’s Services Purchasing Managers’ Index (PMI) eased to 52.5 in April, compared with the March print of 52.7. This has implications for various factors that influence the value of the
The EUR/USD pair has shown signs of recovery above the 1.0650 resistance level, indicating a positive trend in the market. The break of a major bearish trend line at 1.0720 on the 4-hour chart suggests a shift in momentum towards a bullish trajectory. However, the pair is currently facing resistance at the 76.4% Fib retracement
The recent soft U.S. jobs report has caused a stir in the currency markets, with the dollar remaining largely stable. Despite last week’s strong gains, the yen weakened on Monday to start the week. This came after the currency hit a three-week high of 151.86 per dollar on Friday following suspected Japanese government interventions aimed
Pakistan is eagerly anticipating the visit of an International Monetary Fund (IMF) mission this month to discuss the possibility of a new programme. This comes as Islamabad gears up to kickstart its annual budget-making process for the upcoming financial year. The previous $3 billion short-term programme, which Pakistan successfully completed last month, played a vital
The European Union (EU) has recently launched an investigation into China’s procurement of medical devices, as part of its ongoing efforts to protect home-grown manufacturers. This investigation is just one of several probes that the EU has initiated to determine whether Chinese companies are engaging in unfair practices, such as dumping subsidised goods on the
The stock markets in the Gulf region experienced a positive trend on Sunday, with the Qatar index leading the way. This upward movement was a result of the slowing U.S. jobs growth in April, which raised hopes of early interest rate cuts by the U.S. Federal Reserve. The Labor Department’s employment report revealed that the
As the Bank of England (BoE) gears up for its upcoming meeting this week, the general consensus among market participants and economists is that the BoE is unlikely to make any changes to interest rates. This outlook is in line with the March meeting, where the Monetary Policy Committee (MPC) voted 8-1 to maintain rates
When Chinese President Xi Jinping arrives in Paris for a rare visit, French President Emmanuel Macron will undoubtedly push him to address trade imbalances between the two countries. However, given the current state of growing tensions between Europe and China, this task will prove to be quite challenging. France’s support for an EU probe into
The RCM/TIPP Economic Optimism Index is set to be released on Tuesday, May 7. Economists are expecting an increase from 43.2 to 44.1 for the month of May. This indicator plays a crucial role in shaping investor sentiment towards the US economy. A better-than-expected reading could boost confidence in the economy, potentially averting a recession.