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Investors' "fear of missing out" has driven gold demand to record levels, with global demand surpassing $100 billion in Q3, primarily fueled by investment purchases. Despite high prices leading to a 49% drop in central bank purchases, total investment demand more than doubled, while jewellery consumption fell 7%. Gold prices surged 34% this year, reaching a new high of $2,788 per troy ounce, amid geopolitical tensions and concerns over rising government debt.
Boeing is facing significant challenges, including a mid-flight incident where a door panel fell off and a machinists' strike. The company plans to raise $19 billion to maintain its credit rating amid concerns about its future viability and whether it is too big to fail.
Heidi Williams, a professor of economics at Dartmouth College, discusses the critical role of research and development (R&D) in driving productivity and economic growth. She explores the interplay between public and private funding for R&D and its overall value to a nation's economic future in a conversation with Soumaya Keynes.
Bond yields are rising, indicating a potential Donald Trump election win as traders anticipate inflationary spending and policies. As betting markets and polls shift in favor of Trump, Wall Street analysts are closely monitoring these developments.
A start-up backed by Google and Amazon has developed an AI tool that acts as a 'human collaborator' capable of controlling users' computers. In other news, Boeing machinists have rejected the company's latest offer amid an ongoing stand-off, while the US has finalized 'open banking' rules aimed at increasing market competition. Additionally, Deutsche Bank has reported a record profit for the third quarter.
Investors are increasingly favoring emerging market funds that exclude China, driven by concerns over geopolitical tensions and the perceived risks associated with the Chinese economy. This shift has led to a surge in "ex China" funds, which have attracted $10bn in net inflows this year, as clients seek greater exposure to markets like India and Taiwan. Political motivations, particularly among US investors, are influencing this trend, with some pension funds divesting from Chinese assets due to national security concerns.
Citadel, XTX, and Jane Street have emerged as dominant players on Wall Street, significantly impacting trading in equities, currencies, and bonds, areas traditionally controlled by banks. This rise of algorithmic trading firms raises questions about their origins and the reasons behind their rapid growth. In a recent discussion, experts explore these developments and the lesser-known nature of these financial titans.
Uber is considering a takeover of Expedia, which would mark its largest acquisition to date. Meanwhile, Hyundai Motor India's IPO is set to begin trading, but retail investor interest appears tepid. Additionally, a coalition of African oil-producing nations is seeking $5 billion for new projects, and Boeing's largest labor union is set to vote on ending a significant strike.
The Swiss financial regulator has mandated UBS to enhance its emergency and recovery plans following its acquisition of Credit Suisse, which collapsed last year. Finma has suspended UBS's annual resolution strategy approval, emphasizing the need for improved crisis preparations and options for action to ensure stability without taxpayer support. The regulator is also focusing on liquidity management and the impact of social media on bank outflows, reflecting lessons learned from the Credit Suisse crisis.
Roula Khalaf
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
investors drive gold demand to record highs amid rising prices and concerns
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