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Argentina's Inflation Drops to Three-Year Low, But Economic Challenges Persist
Buenos Aires, Wednesday, 13 November 2024.
Argentina’s inflation rate fell to 2.7% in October 2024, the lowest in three years, marking a win for President Milei’s libertarian policies. However, consumers still struggle with high prices and reduced purchasing power as the country grapples with economic reforms.
SoftBank Secures Nvidia's Latest Chips for Japan's AI Supercomputer
Tokyo, Wednesday, 13 November 2024.
SoftBank plans to build Japan’s most powerful AI supercomputer using Nvidia’s new Blackwell chip design. This move underscores SoftBank’s ambition to lead in AI development and could significantly boost computational capabilities in Asia.
Trump Taps Musk to Lead Government Efficiency Drive
Washington D.C., Wednesday, 13 November 2024.
President-elect Donald Trump announces Elon Musk and Vivek Ramaswamy will spearhead a new Department of Government Efficiency. The initiative aims to streamline bureaucracy, reduce regulations, and cut wasteful spending by July 4, 2026.
Dollar Surges on Trump Victory: Wall Street Unites in Bullish Outlook
New York, Tuesday, 12 November 2024.
The US dollar rallies to its highest since November 2022, driven by Donald Trump’s election victory and proposed tariffs. Wall Street analysts unanimously predict further gains, signaling potential shifts in global currency markets and economic policies.
Germany Sets Early Election for February After Coalition Collapse
Berlin, Tuesday, 12 November 2024.
Chancellor Olaf Scholz’s government breakdown leads to a February 23 snap election, seven months ahead of schedule. This political shift could reshape Germany’s economic policies and international relations, particularly with the United States.
Wall Street Bonuses Set to Soar: Debt Underwriters Lead the Pack
New York, Tuesday, 12 November 2024.
Wall Street anticipates its first industrywide bonus increase since 2021, with debt underwriters expected to receive up to 35% more. This surge reflects a robust year in financial markets, particularly in debt issuance and stock underwriting, signaling renewed confidence in the sector.
China's $1.4 Trillion Stimulus Falls Short of Market Expectations
Beijing, Tuesday, 12 November 2024.
China unveils a massive fiscal package to bolster local governments and stimulate economic growth. However, the plan disappoints investors hoping for more aggressive consumer support measures, leading to a decline in Hong Kong stocks.
Bitcoin Soars Past $88,000 as Trump's Victory Ignites Crypto Market
New York, Tuesday, 12 November 2024.
Bitcoin surged to a record high above $88,000 following Donald Trump’s election win. The president-elect’s pro-crypto stance, including plans for a national Bitcoin reserve, has energized investors. Traders are now eyeing the $100,000 mark by year-end.