Tencent, along with other major players in China’s online gaming industry, experienced a staggering loss of approximately $43.5 billion in market value. This substantial decrease came as a surprise to financial markets following the release of draft guidelines by China’s National Press and Publication Administration. As a result, shares of Tencent, NetEase, and Bilibili, three
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Cryptocurrency exchange Coinbase has recently obtained registration with the French markets regulator, allowing the company to expand its operations in another significant European market. This approval, known as a virtual asset service provider (VASP) registration, grants Coinbase the ability to offer a range of digital currency services in France. The move reflects the company’s commitment
The S&P 500 experienced a slight increase on Wednesday, driven by a series of positive economic data that boosted investor sentiment as the year came to a close. This article will delve into the key highlights and trends seen in the market. The Dow saw a marginal gain of only 9 points, equivalent to 0.03%.
The recent attacks by Houthi militants from Yemen have forced Danish shipping giant Maersk to reroute its vessels due to transit the Red Sea and Gulf of Aden. This decision comes after a temporary pause on travel through these passages was announced by several companies, including Maersk and Germany’s Hapag-Lloyd. The attacks on commercial vessels
When it comes to the Federal Reserve’s messages and intentions, the market can often be misunderstood. Last week, after the central bank voted to hold rates steady once again, stocks and bonds experienced a significant rally. This was in response to the Fed’s updated projections, which indicated an expectation of three rate cuts in 2024.
The ongoing conflict between Russia and Ukraine has escalated as both countries reportedly launched mass drone attacks against each other for the second consecutive day. The Russian Defense Ministry stated that at least 35 Ukrainian drones were shot down overnight in southwestern Russia. One of the attacks appeared to target a Russian military airport, which
In a significant display of strength and resolve, a U.S. warship and a Royal Navy destroyer successfully neutralized a total of 15 suspected attack drones over the Red Sea. This decisive response came in the midst of escalating Houthi rebel attacks against commercial ships navigating the region, posing a direct threat to international commerce and
China’s industrial output and retail sales growth in November 2023 indicated a mixed recovery for the world’s second-largest economy. While industrial output expanded at the fastest pace since February 2022, retail sales growth fell short of expectations. This article critically analyzes the data, considering the low base effect and the challenges faced by the Chinese
In a decision that was widely expected, the Bank of England announced on Thursday that it will keep its main interest rate unchanged at 5.25%. This decision comes as the central bank aims to maintain a restrictive monetary policy for an extended period of time. Although some members of the Monetary Policy Committee (MPC) argued
The Federal Reserve has made the decision to keep its key interest rate steady for the third consecutive meeting, signaling a sense of stability in the economy. The benchmark overnight borrowing rate will remain in the targeted range of 5.25% to 5.5%. This decision was made by the policymakers on the Federal Open Market Committee