Standard Chartered announced a $1.5 billion share buyback on Friday alongside an upgraded earnings target, following an 18% surge in annual profit.The bank attributed the strong performance to record growth in its wealth management division and robust market activity.Standard Chartered expects its key markets across Asia, Africa, and the Middle…
The cryptocurrency market saw mixed movements on February 21, with Bitcoin (BTC) crossing the $98,000 mark, while Ethereum (ETH) and Solana (SOL) posted modest gains. The total global crypto market capitalization stood at $3.23 trillion, rising nearly 1% from the previous day. Meanwhile, total market volume surged by 8% to…
India’s retail demand for gold jewelry has been significantly impacted by the surge in gold prices to new all-time highs since the beginning of the year, the World Gold Council said.Despite record-high prices putting pressure on jewelry demand, interest in gold investment is expected to stay strong, the council said. “The…
The FTSE 100 index remained under pressure this week after the UK published strong consumer inflation data, raising the possibility that the Bank of England (BoE) will hike interest rates. The index, which tracks the biggest companies in the UK, retreated to £8,667 on Friday, down by 1.7% from its…
The Hang Seng Tech index has soared to a four-year high as Chinese technology companies jumped. It jumped to a high of H$5,860, up by almost 100% from its lowest point in 2024. So, will Hong Kong’s equivalent to the Nasdaq 100 index continue surging?Top Hang Seng Tech Index stocks…
The departure of over 1,000 Western companies from Russia following its invasion of Ukraine has reshaped the country’s economic landscape.US brands, from McDonald’s to ExxonMobil, exited either voluntarily or under regulatory pressure, with losses collectively exceeding $107 billion.With global geopolitical tensions shifting, discussions on Western sanctions and market accessibility are…
Four global banks—Citi, HSBC, Morgan Stanley, and Royal Bank of Canada—have been fined a combined total of more than £100mn by the UK’s Competition and Markets Authority (CMA) following an investigation into the exchange of sensitive information about gilt trading. The regulator found that between 2008 and 2013, a small…
A new Reuters/Ipsos poll has found that a majority of Americans are concerned that Elon Musk’s push to slash federal jobs could disrupt essential government services. The poll revealed that 58% of respondents worry about potential delays in federal programs such as Social Security and student aid, while only 29%…
Chinese tech giant Alibaba Group Holding Ltd. reported strong earnings for the December quarter, with profit reaching 48.9 billion yuan ($6.7 billion). The company credited the performance to its growing international e-commerce business and its continued push into artificial intelligence.Revenue rose 8% year-over-year to $38.38 billion, exceeding analysts’ expectations of…
Republican Senator Mitch McConnell announced on Thursday that he will not seek reelection next year, bringing an end to his decades-long tenure as a key power broker in the Senate. McConnell, the longest-serving Senate party leader in US history, made the announcement on his 83rd birthday. The news was first…