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Four trades working this morning amid rising geopolitical tensions
19Nov By Aditi PawarNo Comments
Business

Four trades working this morning amid rising geopolitical tensions

Geopolitics are raining on the stock market's parade, but other trades are working. U.S. stock futures fell Tuesday as tensions between Ukraine and Russia intensified. Contracts tied to the Dow Jones Industrial Average lost 539 points, or 1.2%. S & P 500 and Nasdaq-100 futures shed 1.1% each. Russian President Vladmir Putin warned Tuesday that the threshold for using nuclear weapons has fallen. The Kremlin's stance now is that Russia would consider using such weaponry if it — or its allies — were met with "with the use of conventional weapons that created a critical threat to their sovereignty and (or) their territorial integrity." That follows news that Ukraine hit a Russian border city with U.S.-made missiles. Global equities were also under pressure. The German DAX fell more than 1%...
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Canada’s inflation rate rose to 2 per cent in October – National
19Nov By Aditi PawarNo Comments
Politics

Canada’s inflation rate rose to 2 per cent in October – National

Canada’s inflation rate rose to two per cent in October, up from 1.6 per cent in September, Statistics Canada said. The annual rate of inflation, which fell below the Bank of Canada’s target of two per cent in September, beat the analyst expectation of 1.9 per cent slightly. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Price hikes at the grocery store rose at a faster pace in October, at 2.7 per cent, compared to 2.4 per cent year-over-year in September.The spike in grocery prices was led by the 7.3 per cent increase in the prices of fresh vegetables and 7.6 per cent increase for preserved fruit and fruit preparations. Trending Now ...
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Russia says Ukraine attacked it using U.S.-made missiles
19Nov By Aditi PawarNo Comments
Business

Russia says Ukraine attacked it using U.S.-made missiles

Moscow signaled to the West that it's ready for a nuclear confrontation after Ukraine was given permission to attack Russian territory — and appeared to quickly act on that greenlight — using U.S.-made long-range missiles.Kyiv appeared to waste little time after reportedly being given the go-ahead by Washington Sunday to use U.S.-made ATACMS missiles against specific targets. Ukrainian news outlets reported early Tuesday that the missiles had been used to attack a Russian military facility in the Bryansk border region.Russia then confirmed the attack, with the Ministry of Defense confirming that Ukrainian forces had "struck a facility in [the] Bryansk region" using six ballistic, American-made ATACMS missiles. The ministry claimed air defense missile systems had shot down five of the missi...
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Putin signs new nuclear doctrine after U.S. missile decision for Ukraine – National
19Nov By Aditi PawarNo Comments
Politics

Putin signs new nuclear doctrine after U.S. missile decision for Ukraine – National

President Vladimir Putin on Tuesday signed a revised nuclear doctrine declaring that a conventional attack on Russia by any nation that is supported by a nuclear power will be considered a joint attack on his country. Putin’s endorsement of the new nuclear deterrent policy comes on the 1,000th day after he sent troops into Ukraine, on Feb. 24, 2022.It follows U.S. President Joe Biden’s decision to let Ukraine strike targets inside Russia with U.S.-supplied longer-range missiles.The signing of the doctrine, which says that any massive aerial attack on Russia could trigger a nuclear response, demonstrates Putin’s readiness to tap the country’s nuclear arsenal to force the West to back down as Moscow presses a slow-moving offensive in Ukraine.Asked whether the updated doctrine was deliberatel...
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Nvidia must show Blackwell chip can drive growth in earnings report
19Nov By Aditi PawarNo Comments
Business

Nvidia must show Blackwell chip can drive growth in earnings report

Despite rising competition, Nvidia holds 80% of the fast-growing market for artificial intelligence chips as the tech industry's graphics processing unit, or GPU, of choice for making and deploying generative AI software.What investors will want to see when Nvidia reports its third-quarter earnings on Wednesday is whether it can continue to grow at a fierce rate, even as the boom in AI enters its third year.Nvidia is entering "uncharted territory" as it attempts to continue growing on a $3.5 trillion market cap, wrote HSBC analyst Frank Lee in a report this week."We have pondered this amazing growth trajectory and not only do we see no signs of a slowdown, we expect further upside in 2026 data center momentum," Lee said in his note. He has a buy rating on the stock.Future growth will have ...
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Tech funding in Europe stabilizes after years of decline
19Nov By Aditi PawarNo Comments
Business

Tech funding in Europe stabilizes after years of decline

On Monday, British tech lobby group Startup Coalition warned in a blog post that there was a risk Reeves' tax plans could result in a tech "brain drain.". (Photo by Oli Scarff/Getty Images)Oli Scarff | Getty ImagesVenture capital investment in European technology startups is projected to decline for a third straight year, according to VC firm Atomico — but there are signs that things are finally stabilizing as valuations improve and interest rates fall.Europe's venture-backed startups are expected to secure $45 billion of investment by the end of 2024 — slightly lower than the $47 billion they raised last year, Atomico said Tuesday in its "State of European Tech" report.Still, Atomico said this shows that European tech funding levels have finally "stabilized" despite worsening global macro...
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Howard Marks is optimistic on China, but says growth target is a huge challenge
19Nov By Aditi PawarNo Comments
Business

Howard Marks is optimistic on China, but says growth target is a huge challenge

Howard Marks, co-chairman, Oaktree Capital.Courtesy David A. Grogan | CNBCBillionaire investor Howard Marks said he was hopeful about China's economy, but cautioned that the country's growth target was a monumental challenge."I'm still optimistic on China's long-term possibilities, as long as they execute well and as long as they remain constructive with regard to the rest of the world," the co-chairman of Oaktree Capital Management said.Marks told CNBC's Emily Tan on the sidelines of the third Global Financial Leaders Investment Summit hosted by the Hong Kong Monetary Authority that "Even though the growth rate they [China] are targeting sounds modest compared to their history, it's still very much above average for for the rest of the world, and will represent a Herculean challenge."Chin...
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Thyssenkrupp books $1 billion impairment on struggling steel unit
19Nov By Aditi PawarNo Comments
Business

Thyssenkrupp books $1 billion impairment on struggling steel unit

A general view of the gate of the Thyssenkrupp industrial area in Duisburg, Germany, on August 29, 2024. (Photo by Ying Tang/NurPhoto via Getty Images).Nurphoto | Nurphoto | Getty ImagesShares of Germany's Thyssenkrupp jumped on Tuesday after the company posted a narrowed net loss and a 1-billion-euro ($1.06 billion) impairment on the firm's struggling steel division.The company's Frankfurt-listed stock was up 7.5% at 8:48 a.m. London time.Thyssenkrupp posted adjusted earnings before interest and taxes of 151 million euros in the fourth quarter, coming in above a Visible Alpha consensus of 120 million euros, according to Reuters. Across the full fiscal year ending Sept. 30, it narrowed its net loss to 1.5 billion euros after deducting minority interest, compared to a net loss of 2 billion...
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Jailing of 45 Hong Kong democrats in landmark trial draws criticism
19Nov By No Comments
World News

Jailing of 45 Hong Kong democrats in landmark trial draws criticism

By James Pomfret and Jessie Pang for Reuters Benny Tai - dubbed the 'mastermind' of the activists' plans - at the time of his arrest in 2021. Photo: AFP / Vernon Yuen / NurPhoto Hong Kong's High Court has jailed 45 pro-democracy activists for up to 10 years following a landmark national security trial that has damaged the city's once feisty democracy movement and drawn criticism from the US and other countries. A total of 47 pro-democracy activists were arrested and charged in 2021 with conspiracy to commit subversion under a Beijing-imposed national security law which carried sentences of up to life in prison. Benny Tai, a former legal scholar identified in the judgement as a "mastermind" of the activists' plans, was sentenced on Tuesday (local time) to 10 years in jail, the longest...
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UK taxes could rise further if Labour’s growth agenda fails: analysts
19Nov By Aditi PawarNo Comments
Business

UK taxes could rise further if Labour’s growth agenda fails: analysts

Chancellor Rachel Reeves gives a speech at the Treasury on July 8, 2024 in London, England.Pool | Getty Images News | Getty ImagesLONDON — Doubts are mounting over the Labour government's flagship growth and investment agenda, with one analyst warning further tax rises could be coming as soon as next year.U.K. Finance Minister Rachel Reeves last week announced a series of reforms, including financial services deregulation and measures to boost pension investments — the latest in a slew of changes aimed at getting the country's economy growing again.A higher economic growth rate could theoretically boost the government's tax take without the need to raise taxes further, because overall revenues would be higher. Labour has a fine balance to strike, however, in keeping taxes high enough to fu...
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