Damian Williams, the Manhattan US Attorney known for his role in overseeing Wall Street, will resign on December 13 after three years in office. His departure comes as Donald Trump prepares to return to the White House, with Deputy US Attorney Edward Kim set to take over temporarily.
India's two leading stock exchanges may face a decline in profits if the country's stock-market regulator enacts proposed changes to the ownership structure of clearing houses. This potential shift could significantly impact the financial landscape for these exchanges.
Singapore's core inflation in October registered a 2.1% increase from the previous year, marking the slowest growth since December 2021. This decline is attributed to easing price gains in healthcare and recreation, falling short of the 2.5% median estimate in a Bloomberg survey.
The dollar is poised to begin 2025 on a strong note but faces significant challenges ahead, including rising inflation and a growing fiscal deficit. A recent survey reveals that 38% of respondents are most concerned about deficit issues, while 32% anticipate that weaker US and global growth could impact the currency, particularly if President-elect Donald Trump implements proposed tariffs.
Tesla's Supercharger network, while cost-effective and expanding, faces increasing competition from rival charging networks, which now outnumber Tesla stations in the US. Despite promises to open Superchargers to non-Tesla EVs, the rollout of compatible stations and adapters has been slow, with only a fraction of the network retrofitted for other brands. As demand for EV charging grows, local obstacles and limited access to Superchargers highlight the need for improved infrastructure to enhance the charging experience for all EV drivers.
CoreWeave, an AI cloud platform based in New Jersey, is targeting a valuation exceeding $35 billion for its U.S. IPO, expected in the second quarter of 2025, aiming to raise over $3 billion. The company, which provides access to data centers and high-powered chips, recently completed a $650 million secondary share sale, valuing it at $23 billion. As investor interest in generative AI surges, CoreWeave prepares for its listing amid a recovering IPO market.
Norway's $1.8 trillion sovereign wealth fund thrives on a rare political consensus, according to CEO Nicolai Tangen. This stability allows for a consistent investment philosophy that remains unchanged despite government transitions, contributing to the fund's success.
US collateralized loan obligation (CLO) sales have surged to nearly $185 billion this year, surpassing the previous record of $184.7 billion. This marks the third consecutive year of record issuance since 2018, with sales exceeding the $183.8 billion set in 2021 and the earlier benchmark of $130.4 billion.
Argentina's economy unexpectedly contracted by 0.3% in September, defying economists' expectations of 0.9% growth, as President Javier Milei implements aggressive austerity measures. Year-over-year, economic activity declined by 3.3%, according to government data released on Friday.
At COP29 in Baku, Azerbaijan, delegates faced stark realities as discussions on climate finance highlighted a significant gap between the needs of developing nations and the commitments of wealthier countries. Despite a draft agreement proposing $250 billion annually by 2035, many expressed skepticism about the feasibility of such funding, especially with the looming influence of U.S. politics under a potential Trump re-election. The conference underscored the urgent need for effective international cooperation to address climate change, as developing countries continue to bear the brunt of its impacts.
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