EY launches Competitive Edge platform for tailored market insights
Wed, Oct 30, 2024 4:50 PM

EY launches Competitive Edge platform for tailored market insights

EY has launched EY Competitive Edge, a cloud-based intelligence platform that aims to provide real-time, tailored insights into markets, companies, and sectors. The platform leverages generative AI technology and multiple data sources to deliver insights to EY teams and clients. EY Competitive Edge combines EY's intellectual property with various external data sources, including company reports.

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‘Trump Wins Big’ Meme Stock Surges in China Ahead of US Election
Wed, Oct 30, 2024 3:59 PM

‘Trump Wins Big’ Meme Stock Surges in China Ahead of US Election

Chinese investors are jumping into a little-known stock whose name sounds like “Trump wins big” less than a week before the US presidential election. Shares of Wisesoft Co., whose Chinese name “Chuan Da Zhi Sheng” sounds like “Trump wins big” to Mandarin speakers, surged by the daily limit for a third day, bringing gains this week to more than 30% despite weakness in the broader market.

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Investors pull £300m from stocks in race to beat inheritance tax raid
Wed, Oct 30, 2024 3:58 PM

Investors pull £300m from stocks in race to beat inheritance tax raid

Rachel Reeves’s feared inheritance tax (IHT) raid has triggered a surge in investors racing to sell funds which own UK companies listed on the stock market. Investors pulled nearly £300m from funds specialising in small UK companies last month – almost a four-fold increase on the £80m withdrawn in August, according to Morningstar Direct. Mid-sized UK stocks also suffered from Budget uncertainty.

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JPMorgan Says ‘Fear Has Receded’ in a $1.8 Trillion Loans Market
Wed, Oct 30, 2024 3:57 PM

JPMorgan Says ‘Fear Has Receded’ in a $1.8 Trillion Loans Market

In a corner of the credit market that regulators last year characterized as a potential hot-bed of greenwashing, there are signs that bankers have been cracking down on corporate pitches. Paul O’Connor, head of EMEA sustainable finance, debt capital markets at JPMorgan Chase & Co., says corporate clients are now taking the time to “properly” put together their pitches.

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Capgemini trims 2024 revenue target again as soft markets hit Q3 sales
Wed, Oct 30, 2024 3:53 PM

Capgemini trims 2024 revenue target again as soft markets hit Q3 sales

French IT consulting group Capgemini cut its 2024 revenue target for the second time this year on Wednesday, after continued weakness in some of its markets, especially manufacturing, hit its third-quarter sales. The group, which offers services ranging from cloud and AI to enterprise management across a wide array of industries, had in July forecast a surprise fall in its annual revenue.

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Wall Street Bankers Doing ESG Debt Swaps Get New Deals Pipeline
Wed, Oct 30, 2024 3:52 PM

Wall Street Bankers Doing ESG Debt Swaps Get New Deals Pipeline

An emerging ESG debt market that’s been embraced by bankers at JPMorgan Chase & Co. and Bank of America Corp. is about to see its pipeline get a meaningful boost, thanks to an agreement struck in Colombia. The market for so-called debt-for-nature swaps is set to benefit from a plan by six nonprofits to construct a shared pipeline of deals that will be shaped by common standards.

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French economy expanded 0.4% in Q3, INSEE says
Wed, Oct 30, 2024 3:50 PM

French economy expanded 0.4% in Q3, INSEE says

French economic growth beat estimates by accelerating by 0.4% in the third quarter 2024 from 0.2% in the second quarter because of impact of the Paris Olympic Games, preliminary data from statistics agency INSEE showed on Wednesday. Economists polled by Reuters had an average forecast of 0.3% for third quarter gross domestic product (GDP) growth.

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A 'lot rides' on Big Tech earnings amid two busy weeks for markets
Wed, Oct 30, 2024 3:49 PM

A 'lot rides' on Big Tech earnings amid two busy weeks for markets

Amid a chaotic stretch of news, Wall Street strategists are reminding investors that corporate profits remain paramount to the stock market rally. Yardeni Research chief markets strategist Eric Wallerstein told Yahoo Finance that earnings will likely "be in the driver's seat," barring any unexpected changes to the economic narrative.

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Minimum wage is on the ballot this year. The proposals may not be enough
Wed, Oct 30, 2024 3:49 PM

Minimum wage is on the ballot this year. The proposals may not be enough

Raising the minimum wage is up for a vote in this election year. Not only has Democratic presidential nominee Kamala Harris vows to raise the federal minimum wage to at least $15 an hour, but experts say it's no longer enough to meet basic needs, with the living wage estimated to be around $21-23 per hour, even in the most affordable areas.

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Crude Oil: Geopolitical Risks, OPEC+ Discord May Spark Potential Plunge
Wed, Oct 30, 2024 3:47 PM

Crude Oil: Geopolitical Risks, OPEC+ Discord May Spark Potential Plunge

📌Crude oil prices are caught in a whirlwind, as fresh geopolitical tensions and OPEC+ friction set the stage for potential volatility. 📌Key support and resistance levels may guide near-term trading strategies amid shifting supply risks. 📌Staying nimble could prove essential as fresh headlines from the Middle East and OPEC+ loom large.

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Saudi Arabia's ETF tracking Hong Kong stocks opens flat on Tadawul debut
Wed, Oct 30, 2024 3:46 PM

Saudi Arabia's ETF tracking Hong Kong stocks opens flat on Tadawul debut

Albilad CSOP MSCI Hong Kong China Equity ETF (Albilad ETF), the first index fund tracking Hong Kong stocks in Saudi Arabia, made a winning debut in a milestone listing that opens the door for Middle Eastern investors to trade Hong Kong stocks. The ETF rose 0.002 per cent to 10.02 Saudi riyals per unit in early trading on the Saudi Stock Exchange (Tadawul).

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ICG enters South Korean renewables market with stake in Revent Energy
Wed, Oct 30, 2024 3:45 PM

ICG enters South Korean renewables market with stake in Revent Energy

UK-based asset manager Intermediate Capital Group (ICG) has partnered with ST International (STI), a South Korean energy company, to acquire a 50% interest in Revent Energy, with STI retaining the remaining 50%. The collaboration between ICG and STI will bolster Revent Energy's expansion plans. The onshore wind project developer's strategy includes the acquisition, development, construction.

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Futures gain as markets cheer Alphabet results; economic data awaited
Wed, Oct 30, 2024 3:44 PM

Futures gain as markets cheer Alphabet results; economic data awaited

U.S. stock index futures rose on Wednesday, as Alphabet's strong quarterly results buoyed sentiment around technology megacaps, while investors also awaited crucial data to gauge the strength of the economy and the labor market. Shares of Alphabet, the first of the five "Magnificent Seven" megacap stocks due to report results this week, leapt 5.5% in premarket trading.

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Why this bull market feels 'weird': Morning Brief
Wed, Oct 30, 2024 3:43 PM

Why this bull market feels 'weird': Morning Brief

The economy continues to chug along, and this week's batch of economic data — GDP, JOLTs, the Fed's preferred inflation gauge, and a jobs report — is expected to provide evidence that the soft landing is here. But it hardly feels like a landing. There's too much going on, from Big Tech earnings and crazy weather effects on data to an impending election.

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Money market account rates today, October 30, 2024 (up to 5.05% APY)
Wed, Oct 30, 2024 3:42 PM

Money market account rates today, October 30, 2024 (up to 5.05% APY)

As interest rates begin to fall following the Fed’s recent rate cut, it’s more important than ever to ensure you’re earning a competitive rate on your savings. One option you may want to consider is a money market account (MMA). These accounts are similar to savings accounts — they offer interest on your balance, but may also include a debit card and/or check-writing capabilities.

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