Japan’s Nippon Steel is pushing forward with its planned purchase of U.S. Steel, despite facing resistance from various stakeholders. Vice Chairman Takahiro Mori is set to travel to the United States next week to engage in dialogues with key players involved in the deal. This visit is part of continued efforts to gain a better
Economy
The recent restructuring of the European Union fiscal framework, which was put into effect on April 30, has raised concerns among analysts at Bank of America Securities. They argue that the new rules could potentially constrain the budgets of many EU member states, making it difficult for them to make critical investments. This move is
According to the median estimate of seven analysts in a recent straw poll, the Bank of Canada is willing to cut interest rates three times before the Federal Reserve makes its first move. The decline in the Canadian dollar relative to the U.S. dollar has raised concerns about its impact on the inflation outlook, prompting
According to analysts at Wells Fargo, there is a prediction of rate cuts by the US Federal Reserve in the near future. However, the bank does not believe that the Fed will move aggressively on rates. This forecast comes amidst the current “higher for longer” rate mentality that has been prevailing, which may have posed
Macquarie analysts have expressed their belief that the latest at-consensus core CPI data may not be sufficient to trigger the Federal Reserve’s decision to initiate a countdown on a rate cut. Despite the report meeting expectations, the firm deems it to be lacking in significant impact. They have acknowledged that an in-line print of the
Minneapolis Fed President Neel Kashkari recently discussed the uncertainty surrounding the current level of monetary policy and its impact on the economy. Kashkari expressed concerns about how much downward pressure monetary policy is putting on the economy, stating that it is still an unknown factor. This uncertainty has led Kashkari to advocate for maintaining interest
The recent surge in bitcoin prices has led to a significant increase in demand for crypto wallet recovery services. Retail investors who have been locked out of their digital vaults are now making frantic calls to regain access to their accounts. Cryptocurrencies exist on a decentralized digital ledger known as blockchain, and investors have the
As upcoming economic data looms on the horizon, Federal Reserve Chairman Jerome Powell finds himself in a precarious position. While there may be temporary relief in some data points, the overall trend of sticky inflation and above-trend growth is undeniable. The recent slew of economic indicators since the beginning of the year has not been
The recent performance of US stock indexes has been rather turbulent, with the S&P 500 struggling to reach its March record high. Investors are particularly concerned about key inflation readings and upcoming earnings reports. A Federal Reserve Bank of New York survey revealed that Americans anticipate inflation to reach 3.3% in the next year, up
As the week kicks off, Wall Street is poised for a positive start with U.S. stock futures edging higher. The Dow futures contract, S&P 500 futures, and Nasdaq 100 futures all show gains, reflecting a positive tone in the market following a series of winning sessions and a strong week for the Dow Jones Industrial
Chinese companies have once again emerged victorious in the Iraqi oil and gas exploration sector, securing five more bids to explore new fields. This comes as no surprise, as Chinese companies have been the sole foreign players to win bids in this round, with licenses covering a total of 10 oil and gas fields. Additionally,
Australia’s government recently announced updated inflation projections, indicating a faster than expected moderation to the central bank’s target range of 2%-3% by the end of the year. While the previous forecast in December suggested that consumer price inflation would slow to 3.75% by mid-2024 and 2.75% by mid-2025, the new projection anticipates that headline inflation