The Paris public prosecutor’s office has initiated an investigation into the CEO of LVMH, Bernard Arnault, regarding financial transactions involving Russian oligarch Nikolai Sarkisov. Initial reports emerged from French newspaper Le Monde, which cited France’s Tracfin financial intelligence unit. According to the report, Sarkisov had purchased real estate in an Alpine resort with the assistance
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The Singapore Exchange (SGX) has recently made history by becoming the first exchange in Asia to offer trading in “structured certificates.” These financial instruments, based on underlying assets, have the potential to broaden investment options and boost market interest. However, analysts are still unsure about the long-term impact on SGX’s trading volumes and overall success.
The benchmark 10-year Treasury yield surged on Wednesday, marking its highest level in more than 15 years. This rise in yields comes as traders grapple with growing fears of persistent inflation and the potential for a longer-than-expected period of tighter monetary policy. The 10-year Treasury yield experienced a 5 basis point jump, reaching 4.612%. Just
China’s rapid urbanization drive, which has been a significant driving force for the property sector growth over the past decade, is now coming to a halt. This shift in the Chinese urbanization process, combined with the oversupply of housing, has created a challenging situation for the property sector. Economist Hao Hong warns that fixing the
Amazon has announced a $4 billion investment in Anthropic, an artificial intelligence (AI) firm, further strengthening its commitment to AI and keeping up with the competition from Microsoft and Alphabet’s Google. The collaboration aims to capitalize on the potential of generative AI, with AWS as the primary cloud provider. Anthropic’s selection of Amazon Web Services
The leadership of Nagorno-Karabakh, a breakaway region internationally recognized as part of Azerbaijan, has announced that the 120,000 ethnic Armenians residing there will leave for Armenia. The decision to leave stems from their unwillingness to live under Azerbaijani rule and fears of ethnic cleansing. This comes after a lightning 24-hour military operation by the Azerbaijani
China’s recent surge in military activities around Taiwan has raised concerns about the potential for accidental clashes and the escalation of conflict, according to Taiwan’s defense minister. Over the past two weeks, Taiwan has witnessed numerous fighter jets, drones, bombers, warships, and even China’s aircraft carrier, the Shandong, operating in close proximity to the island.
The economic landscape is ever-changing, and the latest report from the Canadian think tank Fraser Institute reveals a significant shift in the global rankings of economic freedom. For the first time since its inception in 1970, Hong Kong has been surpassed as the world’s freest economy by Singapore. This change in rankings brings to light
In a landmark deal worth approximately $28 billion, Cisco has announced its acquisition of cybersecurity software company Splunk. This acquisition, Cisco’s largest to date, highlights the company’s commitment to expanding its cybersecurity business and meeting the growing demands of its customers. By capitalizing on Splunk’s advanced technology, which includes artificial intelligence (AI) capabilities, Cisco aims
The Bank of England’s next move in terms of monetary policy is now uncertain, following a surprising downside in August’s inflation numbers. This unexpected turn of events has created uncertainty in the market, with traders reevaluating their expectations for an interest rate hike. The central bank had been widely expected to increase rates by 25