The CEO of UBS, Sergio Ermotti, expressed his skepticism about the market’s expectation of an aggressive rate cut by the U.S. Federal Reserve. He emphasized that the fight against inflation is not yet over and the Fed needs to consider this before making any drastic moves. Despite the anticipation of a rate cut at the
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During the recent presidential debate hosted by ABC News, former President Donald Trump defended his stance on China policy, particularly his vow to increase trade duties. This included imposing blanket tariffs of 10% to 20% and additional tariffs of 60% to 100% on Chinese goods. Trump emphasized that these tariffs were essential for holding other
In a landmark ruling, the European Court of Justice decided against Apple in the tech giant’s decade-long court battle over its tax affairs in Ireland. This ruling comes amidst Apple’s efforts to reinvigorate its product offerings, including the iPhone, Apple Watch, and AirPods. The European Commission had initiated an investigation in 2014 into Apple’s tax
As the U.S. Federal Reserve prepares for its upcoming meeting, the debate over whether a jumbo 50 basis point rate cut should be implemented is causing division among analysts and economists. Michael Yoshikami, CEO of Destination Wealth Management, believes that a larger cut would show the central bank’s readiness to support job growth without indicating
The recent incident at the border crossing between the West Bank and Jordan has once again highlighted the ongoing conflict in the region. Three Israeli civilians lost their lives in what seems to be a targeted attack linked to the war in Gaza. The situation is further exacerbated by the historical tensions between Israel and
CIA Director William Burns recently expressed his concerns regarding the potential use of nuclear weapons by Russia against Ukraine in the fall of 2022. During a conversation with the U.K.’s secret intelligence chief Richard Moore, Burns highlighted the real risk of escalation and the possible use of tactical nuclear weapons on the battlefield. The Stance
The Dutch government recently announced the expansion of export restrictions on advanced semiconductor manufacturing equipment, further tightening the regulations on ASML’s machines. This decision comes as a response to increased security risks associated with the export of this specific manufacturing equipment, especially in the current geopolitical context. The Netherlands, like other countries, views these export
In a recent interview with CNBC, Qualcomm CEO Cristiano Amon disclosed that the chip designer is collaborating with Samsung and Google to develop a set of mixed-reality glasses that are connected to a smartphone. This announcement marks a departure from Apple’s strategy, which recently unveiled a larger headset. The partnership between Google, Samsung, and Qualcomm
The Asia-Pacific markets experienced a significant decline on Wednesday, with Japan’s Nikkei 225 leading the plunge. The index was down 3.19%, causing losses across the region. Semiconductor related stocks such as Renesas Electronics, Tokyo Electron, and Advantest saw substantial drops, with Renesas Electronics plunging 8% and becoming the largest loser on the index. South Korea’s
China’s housing market is facing ongoing challenges, despite numerous government support measures. JPMorgan economist Haibin Zhu has expressed concern that the housing market crash is far from over and that home prices are unlikely to stabilize until 2025 at the earliest. Recent data from China Index Academy shows that new home sales are experiencing minimal