The Biden administration is preparing to implement new restrictions on semiconductor equipment and AI memory chip sales to China, aiming to intensify the US crackdown on Beijing's tech ambitions. These measures, expected to be announced soon, have evolved through extensive discussions with allies and lobbying from American chip manufacturers concerned about potential business impacts.
LIC is in talks to acquire approximately 50% of ManipalCigna, marking its entry into the health insurance sector. This move is part of LIC's strategy to diversify beyond its traditional life insurance offerings. Both parties have signed a non-disclosure agreement as discussions progress.
BlackRock Inc. is nearing a deal to acquire HPS Investment Partners for approximately $12 billion, as it seeks to enhance its position in the growing alternatives market. The two parties have outlined the deal's framework, with an announcement expected after the Thanksgiving holiday.
Australia's government is set to discuss concerns regarding the financial stability of Landbridge, the Chinese company that holds a 99-year lease on the Port of Darwin. Northern Territory Treasurer Bill Yan has reached out to Landbridge for more information and will meet with Infrastructure Minister Catherine King in Canberra.
Wall Street's main indexes closed lower on Wednesday, with the Nasdaq leading the decline as technology stocks fell amid concerns over the Federal Reserve's cautious stance on rate cuts following strong inflation data. The S&P 500 dropped 22.85 points to 5,998.78, while the Nasdaq Composite lost 113.80 points, ending at 19,061.78. Despite solid consumer spending in October, inflation progress seems stalled, prompting traders to bet on a 25 basis point rate cut in December, but expect rates to remain unchanged in January and March. Investors are also assessing the implications of President-elect Donald Trump's recent trade pledges, which include imposing significant duties on imports from Mexico, Canada, and China.
LVMH Chairman and CEO Bernard Arnault is scheduled to testify at a Paris court regarding the trial of former French spy chief Bernard Squarcini. This case highlights the extreme measures allegedly taken by the luxury conglomerate to safeguard its reputation.
China's electric vehicle (EV) sales have surged, surpassing half of retail passenger vehicle sales in just four months, signaling a significant shift away from gasoline. This rapid electrification is set to drastically reduce demand for transport fuels, impacting the global oil market.
Bitcoin is on the rise, approaching $100,000, fueled by optimism that crypto-friendly candidates will lead US financial regulatory bodies under Donald Trump. The digital asset peaked at $97,361 before settling at $96,400, as support for these candidates boosts market sentiment.
Chinese stocks are expected to face challenges due to ongoing tariff uncertainties and limited domestic stimulus, according to UBS. The firm maintains a "Neutral" stance, highlighting risks from geopolitical volatility while favoring defensive sectors and high-yielding stocks like China Merchants Bank. Despite projected EPS growth of 8.5% for 2025, potential slowdowns in 2026 loom due to macroeconomic uncertainties.
02:04 28.11.2024
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