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Italy has indicated that it is willing to amend its “golden power” laws, which allow the government to intervene in strategic corporate deals. The proposed change comes as the European Commission considers disciplinary action against Rome for how it applied the rules, especially in blocking a major bank merger between UniCredit and Banco BPM. Italian…
Standard Chartered (StanChart) posted a 3% rise in pretax profit for the third quarter to $1.77 billion, beating analyst estimates of around $1.52 billion. The increase came despite challenging market conditions, supported by strong growth in wealth management, global banking and advisory fees. Wealth income alone surged 27%, and non-interest income rose 12% to $2.4…
Global markets showed a mixed reaction on Thursday despite a high-profile meeting between U.S. President Donald Trump and China’s President Xi Jinping. The MSCI Asia-Pacific index slid 0.5% after earlier gains, while U.S. S&P 500 futures dipped 0.1%. Investors were unsettled by the lack of detailed follow-through on the tariff and trade deal, even as…
OpenAI, the pioneering company behind ChatGPT, is quietly laying the foundation for what could be the largest and most highly anticipated initial public offering (IPO) in years. According to reports from Reuters, the company is preparing for a public debut that sources suggest could value the AI juggernaut at up to an astonishing $1 trillion….
Telenor ASA, the Norwegian telecom operator, reported its third-quarter earnings, revealing a mix of positive and cautious signals. The adjusted EBITDA rose to NOK 9.54 billion, up from NOK 9.21 billion a year earlier — yet slightly fell short of market expectations (NOK 9.60 billion). In its core Nordic region, Telenor showed solid performance, driven…
U.S. home prices rose just 1.5% in August compared with the year before, marking the slowest annual gain in over two years. The inflation rate during that same period stood around 3%, meaning homeowners’ real wealth is declining. Cooling Market Signals Most metro areas saw slim gains, and many Sun Belt regions even experienced price…
Swiss luxury watchmaker Breitling has strongly criticised a newly imposed 39 % U.S. tariff on Swiss goods, calling the rate “horrible for Switzerland.” The tariffs were introduced by Donald Trump’s administration and took effect in August. They hit key Swiss exports such as watches, machinery and luxury food. Switzerland’s government said the duties place a…
Several major US stocks saw sharp moves in after-hours trading on Monday after companies released quarterly results and updates. Visa (V) shares slipped after the payments giant issued weaker-than-expected guidance for the upcoming quarter. Even though earnings met expectations, the company warned of softer consumer spending trends, which weighed on investor sentiment. Seagate Technology (STX)…
A key US regulatory agency has voted to significantly tighten restrictions on Chinese technology companies that are deemed to pose a threat to national security. This move marks a major escalation in the ongoing technological and geopolitical rivalry between the US and China. The Target of the Restrictions The new rules likely target Chinese companies…
Amazon Web Services (AWS), the cloud computing arm of Amazon, has announced a massive expansion plan in Asia. The company will invest at least $5 billion in South Korea by 2031. This significant pledge was confirmed by the South Korean presidential office. Strengthening the Cloud Core The colossal investment is primarily aimed at expanding and…
