BNY and Mizuho Bank to Provide Trade Services in Asia
The Bank of New York Mellon Corp. (BNY) and Mizuho Bank cooperate to provide trade services to corporate clients in Asia.
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Chinese Banks Cut Lending Rates
In China, local financial institutions have cut their benchmark lending rates after the launch of the so-called easing strategy by the Asian country’s central bank last month.
TSMC Reports Q3 Earnings
Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chip maker, has bet on maintaining its steady growth against the background of the results of operations for the third quarter of the current year, which testified that this firm is one of the beneficiaries of the so-called artificial intelligence boom.
US Retail Sales Demonstrate Growth
In September, the United States recorded an increase in consumer spending, which is evidence of the sustainability of the country’s economic system, which is currently getting a boost from the Federal Reserve System.
US Weekly Jobless Claims Demonstrate Decrease
In the United States, the number of residents who filed new applications for unemployment benefits unexpectedly decreased last week, but at the same time, this indicator may remain elevated in the short term due to the effects of hurricanes Helen and Milton, which had a negative impact on the US labor market picture.
UK Inflation Drops
In September, the United Kingdom recorded a sharp decrease in the inflation rate.
ASML Shares Demonstrate Decline
The value of shares of ASML Holding NV showed a decrease, which turned out to be the largest in the last 26 years, after it became known this Dutch company specializing in the production of equipment necessary for making chips, including advanced categories, booked only half of the orders from the indicator predicted by analysts.
Adobe Rolls Out New AI Model to Generate Video
Adobe has presented an artificial intelligence model that can use text prompts to generate videos.
Walgreens Closes 1,200 stores
Walgreens is closing about 1,200 locations, which is a decision made against the background of circumstances such as the competition of this pharmacy chain with similar virtual platforms and a decrease in payment for prescription drugs.
Nvidia’s Market Cap Tops $3.4 Trillion
On Monday, October 14, Nvidia shares closed at a record high as Wall Street is currently preparing for earnings season.
China Exports Growth Demonstrates Slowdown
In China, an unexpected slowdown in export growth was recorded in September.
China to Increase Spending to Revive Economic Growth
China will significantly increase the issuance of government debt obligations to offer subsidies to people with low income, support the real estate market, which has recently been in a crisis condition, and replenish the capital of state-owned banks.
OpenAI’s Nonprofit Structure Demonstrates Probability of Transformation
OpenAI, one of the main players in the global artificial intelligence industry and the developer of the world’s most popular chatbot called ChatGPT, is likely to face costly and inconvenient reckoning due to its nonprofit origin, even though the startup’s valuation has reached the $157 billion mark.
UK Economy Returns to Growth
In the United Kingdom, the local economic system has returned to a growth trajectory, which put UK Prime Minister Keir Starmer on track for a modest recovery before worries about his first budget became a factor of pressure on sentiment.
US Consumer Sentiment Declines
In the United States, consumer sentiment has been deteriorating in the current month, as residents of the country continue to be frustrated with the high level of prices for goods and services.
SoFi Adds New Credit Cards to Its Product Line
SoFi Technologies has added two new credit cards to its digital financial services line.
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