Trump is set to $355 million judgment
Trump is set to appeal a $355 million judgment against him in his civil fraud case, arguing that there were no real victims. Attorney General Letitia James launched the case in 2022, based on false financial statements given to banks to secure better loan terms. Trump’s attorneys plan to restate unsuccessful points from the trial,…
Bitcoin and ETFs help cryptocurrency on the track
Coinbase Global, a company that introduces new tab shares, has earned its first profit since 2021 due to strong trading volumes driven by confidence in spot bitcoin ETFs. The stock rose 12% before the bell, and is on track to increase the company’s market value by about $5 billion and reach its peak this year…
Prabowo Subianto won on presidential election by nearly 60% of voting
Indonesian President Joko Widodo congratulated Defense Minister Prabowo Subianto after winning the presidential contest after just one round of voting. Prabowo announced a “victory for all Indonesians” after receiving close to 60% of the vote. The stock market saw a 2.2% increase, and the rupiah strengthened by 0.3%. Prabowo’s opponents, former governors Anies Baswedan and…
Banks are start to focus on consumer and real estate loan
Wall Street banks are raising billions to regain market share in debt-backed deals after a two-year dominance by private equity and asset management firms. The Federal Reserve’s interest rate hikes in 2022 led to decreased lending to business customers with poorer credit risk and rising borrowing costs, particularly for heavily leveraged transactions. After the Fed’s…
China’ lunar new year dropped Japan index on today markets
On Tuesday, Asian markets will experience lower trading volumes due to the Lunar New Year holiday and China’s closure. The global ‘risk-on’ frenzy is strong, with the S&P 500 and Nasdaq reaching all-time highs. However, Asia is not fully participating, with the MSCI Asia ex-Japan index declining. The economic schedule is light, with the Australian…
China’s bank loans jump on first month of 2024
China’s central bank has reported an increase in new bank loans, reaching an all-time high in January, despite the country’s economic recovery being weaker than expected. The People’s Bank of China (PBOC) reported that banks extended 4.92 trillion yuan ($683.7 billion) in new yuan loans in January, setting a record and exceeding analysts’ predictions. This…
European Central Bank will reduce interest rates
Fabio Panetta, a member of the ECB Governing Council, has stated that the time is “fast approaching” for the European Central Bank (ECB) to lower interest rates. He emphasized that rate hikes are having a greater impact on the economy than in the past and that the next monetary policy action should consider the pros…
China and South Korea strengthen bilateral relations
China’s foreign minister Wang Yi has expressed hopes for a positive, objective, and friendly policy towards South Korea, citing close economic connections. South Korean Foreign Minister Cho Tae-yul requested China to reduce North Korea’s military threats and prevent defectors from being forcibly returned home. Wang has invited Cho to China, and discussions on Cho’s visit…