China recently reported that its consumer price index rose by 0.6% year on year in August, falling short of expectations. This increase was driven by a 2.8% rise in food prices, marking the first positive print since June 2023. However, there were declines in transportation, home goods, and rents. The surge in pork prices by
Finance
Seven & i Holdings has recently rejected a takeover offer from Canadian convenience store operator, Alimentation Couche-Tard. The rejection was based on the belief that the offer did not serve the best interests of the company’s shareholders and stakeholders. The offer, which was for $14.86 per share, was labeled as “opportunistically timed” and was criticized
In 2024, exchange-traded fund inflows have surpassed monthly records, setting the stage for potential growth in the investment landscape. According to Nate Geraci, president of The ETF Store, the massive amount of $6 trillion parked in money market funds could serve as a significant catalyst for the industry moving forward. This observation underscores the importance
One of the key issues highlighted by Yi Gang, former head of the People’s Bank of China, is the importance of focusing on boosting domestic demand in China’s economy. This is a critical point, as it indicates that the current economic situation in China may be lacking in terms of stimulating internal consumption. Yi emphasizes
Visa recently announced its plans to launch a dedicated service for bank transfers in Europe, bypassing the traditional credit cards and direct debit processes. This move signifies a shift in the company’s strategy to adapt to the changing payment landscape, with a focus on increasing user control and security in payments. One of the major
British fintech company Zilch recently disclosed that it achieved its first-ever month of profit, signaling a significant achievement for the organization as it sets its sights on a potential initial public offering. The company, which operates in the buy now, pay later space and competes with prominent players like Klarna and Block, revealed that it
The latest Milken Institute’s best performing cities China index highlighted Hangzhou as the top-ranking city due to its status as the capital of the eastern Zhejiang province, home to tech giants like Alibaba. Hangzhou’s success can be attributed to its growth as a hub for e-commerce, manufacturing, and finance. However, the sustainability of this success
Warren Buffett’s Berkshire Hathaway made history by becoming the first non-technology company in the U.S. to hit a market cap of $1 trillion. The Omaha-based conglomerate’s shares have surged more than 28% in 2024, outperforming the S&P 500’s 18% gain. This achievement comes just two days before Buffett’s 94th birthday, adding to the significance of
The British fund manager abdrn has expressed concerns about the U.S. economic outlook, predicting a potential soft landing but warning of the risk of a prolonged slowdown in 2025. This warning comes from Kenneth Akintewe, the company’s head of Asian sovereign debt, who questioned whether the Federal Reserve (Fed) is already making a policy mistake
China has taken a significant step in the gaming industry with its first top-tier video game, Black Myth: Wukong. This action-packed game set in mythological China has captured the attention of gamers worldwide and has broken several world records. In just three days after its launch on Aug. 20, Black Myth: Wukong sold over 10