The U.K. is facing criticism for its lackluster growth and poor rates of GDP per head in the technology sector. Warren East, former CEO of British chip design firm Arm, emphasized the need for a mindset shift from the investor community to enable U.K.-based technology businesses to succeed on the world stage. He highlighted that
Finance
China recently released its consumer price index data for August, revealing a 0.6% year-on-year increase. This figure fell short of expectations, with the forecast anticipating a 0.7% climb. The report highlighted a decrease in costs related to transportation, home goods, and rents, contributing to the lower-than-expected CPI. One of the notable points in the report
Seven & i Holdings has recently made a decision to decline the takeover offer from Alimentation Couche-Tard, a Canadian convenience store operator. The reason behind this rejection is that Seven & i Holdings believes the offer “is not in the best interest” of its shareholders and stakeholders. The proposed acquisition was valued at $14.86 per
Exchange-traded fund inflows have reached record levels in 2024, with managers predicting a potential impact from the money market fund boom before the end of the year. Nate Geraci, president of The ETF Store, highlighted the significant amount of $6 trillion parked in money market funds as a major factor to watch for the remainder
Yi Gang, former head of the People’s Bank of China, emphasized the need for policymakers in China to prioritize boosting domestic demand during his speech at the Bund Summit in Shanghai. He highlighted the importance of focusing on combating deflationary pressure, particularly in the current economic climate. According to Yi, the key to addressing this
Visa recently announced plans to launch a dedicated service for bank transfers, bypassing the use of credit cards and traditional direct debit processes. This new service, known as account-to-account (A2A) payments, is set to revolutionize the way consumers make transactions in Europe. By allowing users to set up direct debits directly from their bank accounts
Zilch, a British financial technology firm, achieved a major milestone by reporting its first-ever month of profit. The company, which operates in the buy now, pay later space alongside competitors like Klarna and Block, managed to reach profitability within four years of its founding. This accomplishment is particularly noteworthy considering that other major consumer fintechs
Hangzhou, the capital of the eastern Zhejiang province, has emerged as a frontrunner in China’s tech industry, being home to tech giants like Alibaba. This year, Hangzhou secured the top spot in the Milken Institute’s best performing cities China index. The city’s success can be attributed to its growth as a hub for e-commerce, manufacturing,
In a historic milestone, Warren Buffett’s Berkshire Hathaway has become the first non-technology company in the U.S. to reach a market capitalization of $1 trillion. This achievement comes amidst a year of impressive performance, with the conglomerate’s shares soaring over 28% in 2024, outperforming the S&P 500’s gain of 18%. The $1 trillion mark was
The British fund manager abdrn has predicted that the U.S. economy may experience a soft landing in the near future. However, there is still a looming risk of a prolonged slowdown in 2025, as highlighted by Kenneth Akintewe, the company’s head of Asian sovereign debt. During an interview on CNBC’s “Squawk Box Asia,” Akintewe raised