Markets & Industries
Tech companies ask Trump to ease restrictions on AI chip exports - 03/26/2025
High-ranking foreign officials and representatives from leading tech firms have urged President Donald Trump's administration to lift the limitations on exporting AI chips, referred to as the "AI diffusion rule," according to Bloomberg, which interviewed over a dozen individuals familiar with the matter. Former U.S. President Joe Biden announced limitations on AI chip exports during his last days...
Canadian oil and gas chiefs call for reforms to develop sector - 03/24/2025
Leaders of 14 oil, gas, and pipeline companies in Canada have issued an open letter to the leaders of all political parties, encouraging them to hasten the development of energy projects to broaden the country’s export markets in light of the trade conflict with the United States. The letter notes increasing public backing for the development of new energy infrastructure in Canada, such as oil...
WSJ: Trump's family is in talks to buy a stake in Binance - 03/14/2025
Family members of US President Donald Trump were negotiating to acquire a stake in the US branch of the cryptocurrency exchange Binance, The Wall Street Journal reports, referencing knowledgeable sources. In November 2023, Binance Holdings Ltd. admitted guilt to breaching US anti-money laundering regulations, along with its founder Changpeng Zhao, who resigned. As per sources from WSJ,...
OPEC+ confirms plans to increase oil production from April - 03/04/2025
The eight member nations of OPEC+ held an online meeting to talk about the global crude oil market situation. At the conclusion of the discussions, they announced that they will begin a gradual rise in oil production starting April 1. They reached this agreement as early as last December. The typical sales volume is projected to be 2.2 million barrels daily (bpd). As a result, this gradual rise...
Bitcoin plunges below $90,000 amid Trump's duties and hacking of Bybit crypto exchange - 02/26/2025
The price of bitcoin dropped under $90,000, marking its lowest point since November 15, following the implementation of import tariffs by U.S. President Donald Trump and several setbacks within the crypto sector, Bloomberg reports based on trading data. Adrian Przelozny, CEO of crypto exchange Independent Reserve, believes the decline in bitcoin's value is likely linked to the widespread...
EY: Increased defense spending in Europe will boost GDP and job offers - 02/24/2025
The German branch of the auditing and consulting firm EY has released a report on the economic impact of heightened defense expenditures in Europe. As per its evaluation, the increase in this spending will aid in GDP growth and the creation of jobs. EY analysts examined two situations: keeping defense spending at the current rate, where European nations invest an average of 2% of GDP or less, and...
World's largest portfolio managers fear a global trade war - 02/19/2025
Nearly 50% of portfolio managers polled by Bank of America (BofA) think that the globe is on the brink of a worldwide trade war instigated by the United States. Regardless of this, investors persist in decreasing the cash allocation in portfolios by boosting investments in stocks, mainly in U.S. and European firms. BofA’s February survey by of 205 managers holding $485 billion in assets found...
Goldman Sachs raises gold price forecast to $3100 by the end of the year - 02/19/2025
Goldman Sachs Group analysts increased their prediction for gold prices by the end of 2025 to $3,100 per ounce, attributing this to central bank acquisitions and inflows into exchange-traded funds, as reported by Bloomberg based on an analytical report. Goldman Sachs predicted last year that gold would reach $3,000 an ounce by the year’s end. According to Goldman Sachs analysts Lina Thomas and...
EU foreign trade surplus quadruples in 2024 - 02/18/2025
According to initial estimates from Eurostat, the euro zone’s trade surplus in December 2024 reached €16.3 billion. In December 2023, the estimation was €16.1 billion, while in November 2024 it was €12.7 billion. The expansion of the surplus on a monthly basis was supported, among other factors, by the local rise in vehicle trade: increasing to €18.8 billion from €15.6 billion in November. The...
China sees record number of mergers and acquisitions in the banking sector - 02/14/2025
As per calculations by Reuters, in 2024, China saw the highest number of mergers and acquisitions among regional banks since the 2000s. It has been reported that a total of 290 mergers and acquisitions took place in this sector. In addition to the group of major national banks, small regional banks—of which roughly 3,700 exist in the nation—significantly contribute to the economy by providing...
