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Renminbi Series: China suffers one notch downgrade from Moody’s

May 24, 2017 05:21 am UTC| Commentary Economy

The rating agency Moodys has downgraded Chinas sovereign credit rating from Aa3 to A1, which is the fourth highest rating in Moodys credit scale. After the downgrade, it changed the outlook from negative to stable. Marie...

BoK likely to maintain policy rate at 1.25 pct, seeking to balance between financial stability and economic growth: Scotiabank

May 24, 2017 04:45 am UTC| Commentary Central Banks Economy

The Bank of Korea (BoK) is expected to leave its policy rate unchanged at 1.25 percent at its monetary policy meeting, scheduled to be held on Thursday morning, seeking a balance between the nations financial stability and...

FxWirePro: The Day Ahead- 24th May 2017

May 24, 2017 04:41 am UTC| Commentary Economy Central Banks

Lots of economic data and events scheduled for today and some with high volatility risks associated. Data released so far: Australia: Westpac leading index declined 0.1 percent in April. Construction work done in...

Australian bonds plunge tracking weakness in U.S. Treasuries post 2-year auction

May 24, 2017 03:52 am UTC| Commentary Economy

The Australian bonds plunged Wednesday tracking weakness in the United States counterpart after a solid supply at the 2-year debt auction held late yesterday. Also, with members of the OPEC set to meet in Vienna this...

German Ifo business climate index rises in May, economy likely to expand strongly in Q2

May 23, 2017 23:07 pm UTC| Commentary Economy

The Ifo business climate for Germany has surprised on the upside in May, coming to the highest level seen since German unification. The Ifo business index rose to 114.6 from 113, as compared with consensus expectations of...

Eurozone composite PMI held at 6-year high in May, suggests Q2 growth could surprise on the upside

May 23, 2017 10:22 am UTC| Insights & Views Economy

Eurozone PMI preliminary flash estimate data released earlier on Tuesday showed that Eurozone economy has maintained its excellent momentum in May. IHS Markits Flash Composite Purchasing Managers Index for May, seen as a...

Why thinking beyond money is vital for solving the poverty puzzle

May 23, 2017 09:23 am UTC| Insights & Views Economy

According to the OECD, development aid recently reached a new peak of $US142.6 billion a year. But international assistance that aims to alleviate poverty can have undesirable, and often unintended consequences on both...

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Economy

South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom

South Africa is keen to make use of potential new European Central Bank (ECB) repo liquidity lines, according to central bank governor Lesetja Kganyago, as the country continues to navigate easing inflation and a gradual...

Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength

Russian stocks finished the latest trading session on a mixed note, with the MOEX Russia Index closing flat as gains in select blue-chip shares were offset by losses in others. At the close of trading in Moscow, the...

China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices

Chinas central bank has continued to strengthen its gold reserves, extending its buying streak to a 15th consecutive month in January, according to the latest data released by the Peoples Bank of China (PBOC). The move...

Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal

President Donald Trump has signed a landmark executive order removing the 25% penalty tariff on Indian goods, signaling a major shift in U.S.India trade relations and global geopolitical alignment. The move functions as...

Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran

U.S. President Donald Trump has signed a new executive order that could impose tariffs of up to 25% on countries that continue to do business with Iran, marking a significant escalation in Washingtons pressure campaign...

Politics

Ohio Man Indicted for Alleged Threat Against Vice President JD Vance, Faces Additional Federal Charges

A federal grand jury has returned an indictment against a 33-year-old Ohio man accused of threatening to kill U.S. Vice President JD Vance during the vice presidents visit to the Ohio region in January, according to the...

New York Legalizes Medical Aid in Dying for Terminally Ill Patients

New York has officially joined a growing number of U.S. states allowing medical aid in dying after Governor Kathy Hochul signed landmark legislation into law on Friday. The new New York medical aid in dying law permits...

Trump Says “Very Good Talks” Underway on Russia-Ukraine War as Peace Efforts Continue

U.S. President Donald Trump said on Friday that very good talks are ongoing regarding Russias war in Ukraine, signaling potential movement in long-running diplomatic efforts to end the conflict. Speaking briefly to...

China Warns US Arms Sales to Taiwan Could Disrupt Trump’s Planned Visit

China has issued a strong warning to the United States, signaling that any additional arms sales to Taiwan could seriously jeopardize U.S. President Donald Trumps planned visit to China in April. According to a report...

Trump Allows Commercial Fishing in Protected New England Waters

U.S. President Donald Trump has signed a proclamation permitting commercial fishing in a previously restricted marine protected area off the coast of New England, a move that has sparked renewed debate over ocean...

Science

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

Technology

Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge

Nvidia (NASDAQ: NVDA) CEO Jensen Huang reaffirmed his bullish stance on artificial intelligence, calling the massive capital expenditure flowing into AI infrastructure both appropriate and necessary as the industry...

Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate

Amazon.com (NASDAQ:AMZN) delivered a mixed but closely watched earnings report, beating Wall Street expectations on revenue while unveiling a massive long-term investment plan that unsettled investors. The e-commerce and...

Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch

Major PC manufacturers including HP, Dell, Acer, and Asus are reportedly exploring the option of sourcing memory chips from Chinese semiconductor companies for the first time, as a prolonged global supply crunch continues...

OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering

OpenAI is significantly accelerating its enterprise AI strategy by hiring hundreds of new employees for its technical consulting division, according to a report by The Information, citing a person familiar with the...

SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off

SoftBank Group Corp. (TYO:9984) shares tumbled sharply on Thursday, tracking a steep decline in Arm Holdings (NASDAQ:ARM) after the UK-based chip designer reported weaker-than-expected earnings for the December quarter....