The Swedish krona held steady against the US dollar after the Riksbank delivered its interest rate decision on Tuesday. The USD/SEK pair was trading at 9.34, down about 17% from the highest level in December last year. Riksbank interest rate decision The USD/SEK exchange rate continued falling on Tuesday even as the Riksbank delivered another […]
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The Indian rupee continued its strong downward momentum, reaching its all-time low as concerns about the economy persisted. The USD/INR exchange rate soared to 88.7, up by almost 6% from its lowest level in April this year. Why the Indian rupee is plummeting The USD/INR exchange rate has been in a strong uptrend this year, […]
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The AUD/NZD exchange rate continued its strong rally, reaching a three-year high as concerns about the Reserve Bank of Australia (RBA) rose. The pair soared to a high of 1.1310, in its eighth consecutive week, up by over 6.16% from its lowest level in June this year. RBA and RBNZ divergence continues The AUD to […]
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US equities have been on a bull run since, well, take your pick. The Great Financial Crisis low of March 2009, when the S&P 500 hit the devilish level of 666? Or maybe from March 2020, when the world shut down as the COVID crisis took hold. Dot-com bust, anyone? There’s an awful lot of […]
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The US financial and political landscape saw significant developments on Wednesday, ranging from court interventions during the ongoing government shutdown to positive momentum in corporate and sovereign markets. Key updates include a federal judge blocking Trump administration layoffs, Tesla’s stock rebound ahead of its Q3 earnings, regulatory approval for a new tech-focused bank, renewed US […]
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Italian fashion house Giorgio Armani SpA has appointed long-time company executive Giuseppe Marsocci as its new chief executive officer following the death of founder Giorgio Armani, signaling continuity during a critical transition period. Marsocci, who previously served as Armani’s chief commercial officer, will assume his new role immediately, the company said in a statement on […]
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Tesla (NASDAQ: TSLA) unveiled lower-cost versions of its two best-selling vehicles — the Model 3 sedan and Model Y SUV — on Tuesday, as the electric vehicle maker works to reignite flagging sales and defend its market share. The new versions are priced at $36,990 for the Model 3 and $39,990 for the Model Y, […]
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Elon Musk’s artificial intelligence company xAI is scaling up its ambitions with a massive $20 billion funding round, backed by Nvidia, Apollo Global Management, and Valor Capital, Bloomberg reported. The financing marks one of the largest in the AI industry this year, combining equity and debt to accelerate xAI’s Colossus 2 data centre project in […]
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Tesla stock (NASDAQ: TSLA) witnessed its stock plunge over 3% in the early market trading on Tuesday. The latest pullback reverses some of the gains from the previous session and underscores ongoing volatility in the electric vehicle giant’s stock. The drop in Tesla stock indicates a cautious sentiment among investors amid fluctuating momentum and comes […]
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Cryptocurrencies are looking to bounce off intraday lows after a notable sell-off post Federal Reserve interest rate cut pushed Bitcoin to lows below $110,000. Major altcoins, including Ethereum (ETH), Ripple (XRP), Solana (SOL) and BNB (BNB), slipped under pressure as traders reacted to the Federal Reserve’s 25-basis-point rate cut — a move that analysts described […]
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