Caterpillar, a leading manufacturer of construction and mining equipment, exceeded analyst expectations for second-quarter profits. The company’s stock price jumped 5% in premarket trading, reflecting investor confidence in the company’s performance. Despite a moderation in …
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HSBC Boosts Share Buybacks, Upgrades Outlook Amid Rate Cut Fears
HSBC Holdings, Europe’s largest bank, announced a $3 billion share buyback and upgraded its income outlook on Wednesday, a move that defied concerns about potential global interest rate cuts. The news was welcomed by investors, …
Continue readingOil Prices Stabilize Amid Golan Heights Tensions
Oil prices remained relatively stable on Monday despite heightened tensions in the Middle East following a rocket attack in the Israeli-occupied Golan Heights. While the attack, attributed by Israel to Hezbollah, has raised fears of …
Continue readingGold Prices Surge Near $2,400 on Rate Cut Bets
Gold prices rallied in Asian trading on Monday, pushing towards the $2,400 mark as investors bet on potential interest rate cuts by the Federal Reserve. The precious metal has been gaining traction after encouraging inflation …
Continue readingPhilippines Accuses China of Mischaracterizing South China Sea Resupply Deal
The Philippines has accused China of mischaracterizing a recent agreement regarding the resupply of Filipino troops stationed on a beached naval vessel in the disputed Second Thomas Shoal in the South China Sea. The Philippines …
Continue readingTrump Vows to Create US Bitcoin “Stockpile” in Bid to Dominate Crypto
Republican presidential candidate Donald Trump told a bitcoin conference in Nashville on Saturday that the U.S. must dominate the cryptocurrency sector or China will. He made this statement at the Bitcoin 2024 convention, positioning himself …
Continue readingOil Prices Dip on Weak Chinese Demand, Gaza Ceasefire Hopes
Oil prices fell on Thursday, driven by concerns over weakening Chinese demand and expectations of a ceasefire in the Gaza conflict. Brent crude futures for September dropped 1.1% to $80.80 a barrel, while U.S. West …
Continue readingSTMicroelectronics Cuts Full-Year Outlook Again, Shares Plunge 13.5%
STMicroelectronics (STM), a leading chipmaker supplying companies like Tesla and Apple, has slashed its full-year revenue and profit forecasts for the second time. The company attributed the revision to a “longer and more pronounced correction …
Continue readingOil Prices Rise on US Inventory Draw, But Long-Term Concerns Linger
Oil prices climbed in Asian trade on Wednesday, finding a brief reprieve from recent losses. This upward tick was driven by a surprise decrease in US crude inventories, as reported by the American Petroleum Institute …
Continue readingChina Cuts Interest Rates in Surprise Move to Boost Economy
China surprised markets on Monday by cutting both short-term and long-term interest rates, the first broad rate reduction since August 2023. The move signals a proactive approach to stimulate the country’s slowing economy. The cuts, …
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