Author: Journalist
(Bloomberg) — President Donald Trump and his family have taken a interest in just about every corner of the crypto industry. Most Read from Bloomberg There are nonfungible tokens and digital collectibles; a decentralized finance project; a proposed stablecoin; an effort at Bitcoin mining; and a pair of memecoins, one for the president and one for First Lady Melania Trump. Taken together, the various projects are approaching $1 billion in paper gains even after accounting for the latest round of trade war-induced market gyrations, according to Bloomberg calculations based on publicly available data. Donald Trump is already the richest person…
US-based third-party hotel operator and investor Hospitality Ventures Management Group (HVMG) has appointed Jessica Myers as the new vice president of finance and accounting. This strategic move is aimed at enhancing owner satisfaction in financial reporting. Myers said: “HVMG has built a deserved reputation as a leading hospitality operator whose ‘Be Excellent’ culture resonates with team members and owners alike. “I look forward to bringing my financial experience to the team as the company expands its portfolio nationwide.” In her new role, Myers will oversee the corporate team responsible for producing monthly financial statements. With corporate, above-property and property-level experience,…
As global markets experience a mix of optimism and uncertainty, with easing trade tensions and better-than-expected earnings reports driving U.S. stocks higher, the Asian tech sector stands out as a dynamic area for potential growth amid these shifting economic landscapes. In this environment, identifying promising tech stocks involves looking at companies that demonstrate resilience against trade disruptions and possess innovative capabilities to capitalize on emerging market opportunities. Name Revenue Growth Earnings Growth Growth Rating Suzhou TFC Optical Communication 28.00% 28.07% ★★★★★★ Fositek 29.02% 34.17% ★★★★★★ Range Intelligent Computing Technology Group 28.40% 29.29% ★★★★★★ eWeLLLtd 24.66% 25.31% ★★★★★★ Nanya New Material…
Klarna (KLAR) stock finished its first trading session on Wednesday up 16% from its IPO price, finishing the day at $46.40 roughly four hours after its market debut on Wednesday and giving the company a market value of around $17.5 billion. The Swedish buy now, pay later leader opened for trading around 1 p.m. ET on Wednesday at $52, a jump of 30% from its IPO price of $40 per share. The IPO raised Klarna $1.37 billion, the company said on Tuesday, and marked an increase from its previous pricing estimate of $35-$37 per share and signaling strong demand for…
(Bloomberg) — Asian stocks started the week with a cautious tone, as investors grappled with South Korea’s political upheaval and awaited fresh stimulus from China. Oil was steady after the Syrian government was toppled. Most Read from Bloomberg Korea’s equity benchmark dropped as much as 1.8% in opening trade, with Australian shares also slipping. Japanese stocks were flat. Futures pointed to a soft open in Hong Kong. The dollar and the yield on 10-year Treasuries were steady. Investors are readying themselves this week for a final flurry of central bank decisions across four continents, a key meeting of Chinese officials…
There’s been something of a sea change in the economic outlook for 2025, in the aftermath of last month’s election. The prospect of a second Trump administration, with his known preference for deregulation and tax cuts, has market watchers expecting a growth-friendly environment. Desh Peramunetilleke, Jefferies’ Global Head of Quantitative Strategy, notes that reduced regulation, combined with the potential for lower corporate tax rates, could significantly boost the biotech sector, with smaller biotech stocks poised to benefit the most. “Our recent analysis concluded with a near-term preference for smaller-cap biotech names in the US… Trump’s win brings new market dynamics into…
(Bloomberg) — South Korean stocks tumbled and the won approached its weakest level since 2009 following a weekend of political turmoil that left investors bracing for a period of heightened volatility. Most Read from Bloomberg The benchmark Kospi Index dropped as much as 2.3%, and the small-cap Kosdaq Index slumped more than 4% to its lowest since April 2020. The won fell about 1% against the dollar, heading toward levels reached in the immediate aftermath of President Yoon Suk Yeol’s botched imposition of martial law early last week. Investors face the risk of a prolonged stalemate after Saturday’s impeachment motion…
Total asset finance new business (primarily leasing and hire purchase) grew in October 2024 by 4% compared with the same month in 2023, according to figures released by the Finance & Leasing Association (FLA). In the ten months to October 2024, new business was also 4% higher than in the same period in 2023. New business in the commercial vehicle finance and plant and machinery finance sectors grew in October by 12% and 8% respectively, compared with the same month in 2023. The new car finance sector reported a fall in new business of 7% over the same period. Commenting…
The return of President-elect Donald Trump to office raises the likelihood of a renewed wave of import tariffs, particularly targeting mainland China but potentially extending more broadly. In a recent posting, Fitch Ratings highlights that businesses should be proactive in dusting off their tariff mitigation playbooks, leveraging both short-term financial strategies and long-term sourcing adjustments to manage the potential costs. One of the first lines of defence against tariffs is lobbying for exemptions or the outright removal of duties. According to Fitch Ratings, this can include exemption requests, waivers, or direct advocacy to influence trade policies. Pre-emptive lobbying efforts —…
(Bloomberg) — Stocks hit all-time highs as Federal Reserve Chair Jerome Powell said the economy is in remarkably good shape. The euro pared gains as the French government fell after a no-confidence vote in Parliament. Most Read from Bloomberg A rally in big tech drove the S&P 500 toward its 56th closing record in 2024. The Nasdaq 100 climbed over 1%. Nvidia Corp. led a gauge of the “Magnificent Seven” megacaps higher as the group extended this year’s surge to almost 65%. Salesforce Inc. and Marvell Technology Inc. soared as their results boosted hopes both companies will keep benefiting from…