China Ambassador Asks EU to “Clarify” EU Position on China
Wang Xiaoping, China’s EU ambassador, seeks discussion, trust, and collaboration with Beijing. China, the EU’s “economic competitor” and “systemic rival,” wants less dependence. Wang will aid peace talks and Ukraine issues. The EU must “clarify” its strategic relationship with Beijing and boost communication, trust, and partnership. The 2003 EU-China comprehensive strategic relationship celebrates 20 years.…
UK retail food costs rose 25% in two years.
Supermarket food prices have grown by 25% in the last two years, highlighting the need for businesses to give accurate pricing information on loyalty card offers and promotions to help customers get the best deal. The company has lobbied the government to close loopholes that create supermarket price differences. The ONS will release June inflation,…
Biden Will Continue to Lower Inflation
Inflation fell from 9.1% in June to 3%. Americans have lost buying power since Biden became president, raising inflation fears. Prices rose 15.6% and income 12.2% since January 2021. Trump’s actual earnings were 2.5% higher than Biden’s 1.1% decline. Since then, real wages have increased, which may slow profit growth in 2024. Biden’s favor rating…
The Collapse Of Credit Suisse, will maintain its archives for fifty years
According to the Aargauer Zeitung, a parliamentary investigation into Credit Suisse’s failure will seal its files for fifty years, causing concern among Swiss historians. After thirty years, the investigative committee will submit witness testimony and records to the Swiss Federal Archives. Sacha Zala, the president of the Swiss Society for History, emphasized the significance of…
Good News Comes With The Fallen of US Dollar
The dollar is falling due to weaker US inflation, benefiting risk assets worldwide. It is down 13% versus a basket of currencies and at its lowest level in 15 months. A weaker dollar makes US goods more competitive internationally and makes it cheaper for corporations to transfer foreign profits into dollars. Russell 1000 technology businesses…
Treasury euphoria fades away, following strong economic data.
Consumer sentiment has attained its highest level in nearly two years, and short-term price expectations have risen. The US yield increased by 14 basis points to reach 4.77 percent, and the dollar rebounded from its worst week since November. The S&P 500 had its strongest week since mid-June, despite stock market consolidation. Earnings estimates for…
Binance discharges workers just days after its top executives leave.
Binance, the world’s largest cryptocurrency exchange, has experienced job cuts due to management departures. The Wall Street Journal reported over 1,000 people laid off in recent weeks. Binance CEO Changpeng Zhao denied media estimates and stated that the exchange is still hiring. The SEC sued Binance and Zhao for “web of deception” last month, but…
Bitcoin lingers near its 13-month peak as investors rejoice.
A US court has ruled that Ripple Labs Inc.’s XRP coin is not a security, leading to a rise in Bitcoin’s price. This marks the first time the SEC has brought a case against a cryptocurrency company, and buyers are hopeful that other cryptocurrencies may not be stocks. Binance, the world’s largest cryptocurrency exchange, has…