As the world looks towards China as a significant player in the global economy, the nation grapples with its own intricate challenges, particularly when it comes to stimulating consumer consumption. In July, the Chinese government unveiled an ambitious initiative aiming to boost domestic consumption through a substantial allocation of 300 billion yuan (around $41.5 billion)
Finance
Dutch challenger bank Bunq has announced ambitious plans to increase its global headcount by 70% this year, bringing the total number of employees to over 700. This move comes at a time when many other financial technology startups are facing pressure to downsize and cut jobs due to the challenging economic environment. Bunq, which currently
Recently, a top Federal Reserve official announced revisions to a proposed set of U.S. banking regulations that significantly reduces the additional capital required for the largest financial institutions. Initially, the Basel Endgame regulatory overhaul, introduced in July 2023, aimed to increase capital requirements for the world’s largest banks by 19%. However, following feedback from various
JPMorgan Chase experienced a significant decline in share value after the bank’s president expressed concerns about the optimistic expectations for net interest income (NII) in 2025. The bank is striving to achieve its 2024 target of approximately $91.5 billion in NII. However, the current estimate for 2025 of $90 billion was deemed to be unrealistic
As the U.S. Federal Reserve gears up for its upcoming meeting, opinions on the potential rate cut are largely divided. According to Michael Yoshikami, CEO of Destination Wealth Management, a jumbo 50 basis point rate cut could be on the table without spooking markets. This move, as suggested by Yoshikami, would demonstrate the central bank’s
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
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