The long-standing belief that a weak yen benefits Japanese stocks is fading as the correlation weakens amid differing global monetary policies. Since a significant drop in summer, the Topix index has remained stagnant, despite the yen fluctuating between a 14-month high and a near 38-year low.
Raiffeisen Bank shares reached a new 6-month high of EUR 19.00 on December 5, 2024, marking a 7.70% increase since November 29. The stock is currently trading 4.61% above the 20-day moving average, indicating a positive trend across all time horizons.
00:00 06.12.2024
Elon Musk's xAI has successfully raised $6 billion in a recent funding round, valuing the artificial intelligence startup at over $40 billion. The equity financing involved 97 investors, with contributions starting at $77,593, although specific investor names and revenue details were not disclosed. Bloomberg News reported that xAI was pursuing this funding at a $40 billion valuation, excluding the newly raised capital.
Chevron plans to take up to $1.5 billion in fourth-quarter charges for restructuring, asset impairments, and property sales costs, primarily due to job cuts and relocations over the next two years. The company aims to reduce costs by up to $3 billion through 2026, with a $2 billion cut in 2025 project spending. Despite these challenges, Chevron's projected fourth-quarter profit is $4.35 billion, down from $6.45 billion a year ago.
Vale Base Metals is set to cut dozens of managerial positions as part of a strategy to streamline its corporate structure and enhance performance. This move aims to empower operational teams with greater decision-making authority. The company has not commented on the changes.
Private credit lenders are gearing up for a significant increase in transaction sizes and a surge in mergers and acquisitions next year. Executives from Blackstone Inc. and Blue Owl Capital Inc. emphasize the importance of achieving scale and providing diverse credit solutions to clients. Michael Zawadski, Blackstone's global chief investment officer, highlighted this focus during Bloomberg Intelligence’s 2025 credit outlook conference.
Gold prices have surged to record highs this year, driven not only by traditional factors like geopolitical tensions and economic uncertainty but also by the prospect of a US soft landing and lower interest rates. The ongoing conflicts, including Russia's war on Ukraine and tensions in the Middle East, further contribute to this unprecedented gold rush.
Tens of thousands of wealthy Americans are evading tax filings, exploiting a legal loophole that makes failing to file a return a misdemeanor, while filing false returns is a felony. Despite IRS efforts, only a fraction of high-income non-filers have complied, with significant revenue still uncollected. The Treasury proposes increasing penalties for chronic non-filers to enhance compliance and reduce the tax gap.
Aviva Plc is close to a preliminary agreement to acquire Direct Line Insurance Group Plc, following a series of takeover attempts this year. The latest bid has been increased to 261 pence per share, valuing Direct Line at £3.4 billion ($4.4 billion), with a potential recommendation from Direct Line expected soon.
Bitcoin has fallen below the $100,000 mark again as investors cash out, with many having set personal targets around this threshold. Attention is focused on the upcoming US labor market report, expected to show a rise in non-farm payrolls, which could influence monetary policy. Hopes for a crypto-friendly environment in Washington persist, especially with the Federal Reserve's meeting scheduled for December 18, where a potential interest rate cut is anticipated.
IG
23:02 05.12.2024
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