Nearly 200 people were trapped on the Hong Kong Observation Wheel for about 45 minutes after a fire alarm halted its operation on Thursday. Authorities launched a rescue operation after receiving calls at 5.16pm that the Ferris wheel at the Central harbourfront had stopped running, with 190 people on it. They said an electric meter…
US stocks fell on Wednesday, with the S&P 500 snapping a winning streak amid a sell-off in tech. Dell shares dropped 12% after the company lowered guidance for the quarter. Investors took in the fresh inflation data, which bolstered bets for a December Fed rate cut. US stocks ended lower on Wednesday, with the benchmark…
US President-elect Trump announced sweeping tariffs on Mexico, Canada, China, impacting global markets and currencies. Some analysts see Trump’s tariff threats as leverage for countries to comply with the President-elect’s wishes. Analysts expect more tariffs and uncertainty ahead and are advising companies and investors to plan accordingly. President-elect Donald Trump has two months until he…
Kalshi and Polymarket catapulted to the most downloaded free apps on the Apple App Store on Tuesday. Kalshi is the betting market open to US citizens, while Polymarket is used by international bettors. Kalshi and Polymarket show Trump favored to win the Electoral College, with Harris expected to win the popular vote. Thanks for signing…
Market analysts predicted choppy trading and sharp swings going into the US presidential election. Donald Trump and Kamala Harris are locked in a tight race, fueling uncertainty among traders. One analyst said economic fundamentals matter more to markets than who becomes president. Thanks for signing up! Access your favorite topics in a personalized feed while…
General Motors CEO Mary Barra said on Tuesday that EV manufacturers face steep competition in China. That competition comes with prices that are going “lower and lower,” she said. It’s not sustainable for EV manufacturers like GM, Barra said. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the…
China’s stock markets slumped after a 10-day rally that was driven by Beijing’s stimulus announcement in September. Investors were disappointed when a hyped-up Chinese government press briefing failed to deliver more stimulus. Retail investors dominate China’s markets, influencing sentiment and market movements. Thanks for signing up! Access your favorite topics in a personalized feed while…
China’s stock markets surged post-National Day break, driven by pent-up investor demand. Beijing’s aggressive stimulus measures have bolstered market sentiment, despite economic challenges. Investors are assessing further economic stimulus measures from Beijing. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app By clicking “Sign…
China has announced a slew of supportive policies to give its economy a boost. But the past week’s stimulus blitz did not offer fiscal support to China’s discouraged consumers. China needs to spend more on its people and offer incentives for buyer demand to return Thanks for signing up! Access your favorite topics in a…
China pulled out an aggressive stimulus package on Tuesday. At a rare press briefing about China’s economy, People’s Bank of China governor Pan Gongsheng unveiled a swathe of measures, including slashing interest rates and reducing the amount of cash banks need to hold in their reserves. The measures were significant because Beijing has been holding…