The inflation rate in the USA fell to 2.4% in September, its lowest in three and a half years, while core inflation rose to 3.3%, driven by rising rents. Although a significant interest rate cut is feasible, the Fed's cautious approach reflects concerns over persistent core inflation. Discussions on potential rate cuts in November are anticipated.
16:45 10.10.2024
Miro Mitev, founder and CEO of Smart Wealth, discusses the integration of artificial intelligence in finance and its potential for delivering higher returns. He will present at the Finews networking event on October 21, 2024, in Zurich, focusing on multi-strategy approaches and customization in asset management. The event will feature keynotes and a panel discussion, followed by networking opportunities.
Gold prices are influenced by mixed US inflation data, with consumer prices rising 2.4% in September while the core inflation rate increased to 3.3%. The Fed Watch Tool indicates an 84.9% chance of a quarter-point rate cut, though the likelihood of a rate hike has decreased. Investors are advised to monitor upcoming producer price data, as a new record high for gold at USD 2,700 remains a possibility despite recent profit-taking.
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15:48 10.10.2024
Berner Kantonalbank's share price increased by 0.20% to EUR 248.00 on October 10, 2024, marking a 2.06% rise over the past month. The bank plans to distribute a dividend of EUR 10.00 per share for 2024, yielding 4.13%, making it attractive for long-term investors despite recent analyses suggesting shareholders may need to reconsider their positions.
15:45 10.10.2024
The UN has introduced a mandatory mechanism within its new carbon market to safeguard against human rights violations and environmental damage by requiring project developers to conduct detailed risk assessments. This Sustainable Development Tool aims to ensure that carbon credit projects contribute positively to the 17 Sustainable Development Goals while avoiding harm. The approval marks a significant step towards operationalizing the Article 6 carbon market, with ongoing reviews planned to enhance its effectiveness.
Concerns are rising over the sustainability of the carbon removal market, as major buyers like Microsoft dominate purchases, accounting for over 77% of 2024's total. Despite a $3.5 billion federal investment to build direct air capture hubs, demand remains insufficient, prompting calls for increased government support to ensure the sector's viability. Without broader participation and policy-driven demand, the future of carbon removal projects may be at risk.
The South Korea telemedicine market, valued at USD 2.02 billion in 2023, is projected to grow to USD 3.46 billion by 2029, driven by an aging population, chronic disease prevalence, and technological advancements. The shift towards preventive care and increased internet and smartphone penetration are key factors enhancing patient engagement and access to healthcare services. Teleradiology remains the dominant application, supported by government initiatives and a robust healthcare infrastructure, particularly in the southern region.
Ralph Hamers, the former CEO of UBS Group AG, has joined Arta Finance, a digital-wealth platform founded by ex-Google employees. As an external senior adviser, he will help the firm leverage artificial intelligence to democratize family office-style investing for a broader audience.
14:00 10.10.2024
VPBank has secured a $150 million loan from the Japan Bank for International Cooperation (JBIC) to finance renewable energy and power transmission projects in Vietnam, supporting the country's goal of achieving net-zero emissions by 2050. The agreement, signed on October 9, aligns with Vietnam's Power Development Plan and the Asia Zero Emissions Community initiative, reinforcing the partnership between Vietnam and Japan in sustainable development. VPBank continues to lead in sustainable finance, having previously raised significant international loans for environmental initiatives.
13:40 10.10.2024
UBS forecasts that European Central Bank interest rate changes could lower bank profits by 3-5% in Q3 2024, with French banks being less affected compared to their Italian and Spanish counterparts. Despite a temporary 8% corporate tax hike potentially reducing profits by 3% in 2025, the diverse revenue streams from insurance and asset management provide stability. UBS has downgraded earnings forecasts for major French banks for 2025-2026 by 5-6%, recommending Société Générale as the best option, with Crédit Agricole rated as a buy and BNP Paribas receiving a neutral rating.
13:39 10.10.2024
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