The Mozambique Central Bank has reduced its key interest rate to the lowest level since 2020. This decision reflects the bank's ongoing efforts to stimulate economic growth amid challenging conditions. The move is expected to impact borrowing costs and overall economic activity in the country.
BTIG reports that baby back ribs are currently outperforming Nvidia in the restaurant sector. This trend highlights a notable shift in consumer preferences, with certain restaurant stocks gaining traction in the market.
The U.S. has negotiated a prisoner swap with China, securing the release of Lin and potentially paving the way for the return of other detained Americans, including Swidan, Li, and Leung. The State Department's travel warning for China may be reconsidered as Beijing seeks to restore business and tourism ties. Advocacy groups highlight the plight of over 200 unjustly imprisoned Americans in China, with calls for the U.S. to classify these detentions as wrongful.
Raiffeisen, a century-old bank, celebrates its 100th anniversary while navigating modern challenges with a commitment to its cooperative roots and principles. Hervé Broch, Chairman of the Executive Board of Banque Raiffeisen Région Genève Rhône, emphasizes the bank's stability and adaptability in a changing financial landscape. As digital solutions emerge, the institution remains focused on its long-term vision, reflecting Swiss values amidst global movements.
15:41 27.11.2024
UBS has been acquitted by the Swiss Federal Criminal Court in a case involving money laundering linked to a Bulgarian drug gang and transactions with Credit Suisse, which was acquired in 2023. The court cited the inability to investigate further due to the death of a former employee, thus upholding the presumption of innocence. The decision, which may be appealed by the Attorney General, effectively closes this long-standing case.
15:41 27.11.2024
Andreas Schiller, an analyst at Raiffeisen Bank International AG, maintains a buy recommendation for Amazon.com Inc. shares, raising the price target from USD 220 to USD 235. The company's strong performance in e-commerce and cloud services, along with improved operating margins due to cost discipline, reinforces optimism for continued growth, particularly in the AI sector.
15:37 27.11.2024
Wall Street showed little movement on Wednesday as investors awaited the release of the personal consumption expenditures price index, delayed to 10 a.m. ET due to the holiday. The stock market will be closed on Thursday for Thanksgiving and will have an early close on Friday. On Tuesday, the Dow and S&P 500 reached record highs, while the Nasdaq made gains, inching closer to its record close from November 11.
Ingka Group, the largest Ikea retailer, reported a significant 37.5% drop in operating profit to €1.3 billion for the financial year ending in August, impacted by price cuts and challenging economic conditions. Revenue fell nearly 6% to €41.8 billion, while expenses saw a slight increase.
Residents in San Jose, California, lead the nation in monthly bill expenses, averaging $3,695, which is 32% of their income. New York follows closely at $3,639, with costs driven by high housing and utility expenses. The report highlights that housing remains the primary factor influencing living costs across major U.S. cities.
The benchmark mortgage rate is expected to drop from 1.75% to 1.5%, potentially benefiting tenants with rent reductions. While a decrease may occur as early as December, experts suggest it is more likely by March, with landlords required to lower rents by 2.9% if the rate falls. However, not all tenants may see automatic reductions, and the rate is projected to stabilize at 1.5% until the end of 2026.
15:30 27.11.2024
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