China is boasting of its growing economic and political development as the country comes to a standstill for the once-every-five-years Communist Party Congress. Over the weekend, China’s ruling Communist Party said it has agreed to amend the party constitution amid expectations that it will be incorporating President Xi Jinping’s political thought. The communique came after […]
Read moreEuropean markets are expected to start off the first trading day of the week in the black, as investors gear up for the latest in political news coming out of Austria, Spain and the U.K. Looking to the major bourses, the U.K.’s FTSE 100 is expected to open 18 points higher at 7,553, while the […]
Read moreJPMorgan Chase CEO Jamie Dimon might still think those buying bitcoin are “stupid,” but that didn’t stop the cryptocurrency from trading at records above $5,800 last week. Optimism around bitcoin drove its market capitalization above that of Goldman Sachs on Friday, with some market insiders forecasting that figure to reach at least $1 trillion in […]
Read moreCanadian athletic apparel retailer Lululemon, hungry to expand, could lean further on Alibaba to drive growth, according to CEO Laurent Potdevin. And while the relationship with China’s e-commerce giant pays dividends, Lululemon isn’t worrying about threats from its main U.S. rival: Some reports have said Amazon is planning to create its own sports apparel line, […]
Read moreHousehold debt in Australia has been on the rise as more people are taking out loans to buy houses in the country’s red-hot property market. But Australian Treasurer Scott Morrison said the situation is under control thanks to a series of “strong” measures undertaken by the country’s regulators. According to the Australian Bureau of Statistics, […]
Read moreIraqi army units advanced overnight Sunday toward Kirkuk, a major oil city that’s dominated by the country’s Kurdish people and which recently declared independence. The Iraqi national army has taken control of “vast areas” without opposition from Kurdish peshmerga fighters, Reuters reported, citing state television. There were no confirmed reports of fighting. Oil prices reacted […]
Read moreEmerging markets should get their fiscal houses in order while monetary conditions remain loose, the International Monetary Fund warned. Governments have to some extent taken advantage of lower interest rates and cheap financing costs, but when monetary and financial conditions normalize, financing costs could rise, said Tao Zhang, the organization’s deputy managing director. Many countries […]
Read moreChina’s consumer price index rose 1.6 percent in September from a year ago, meeting expectations. Meanwhile, the producer price index jumped 6.9 percent in September from a year ago, which topped expectations. According to a Reuters poll, China’s Consumer Price Index was forecast to rise 1.6 percent in September from a year ago. August CPI […]
Read moreIf Chamath Palihapitiya is considered one of the most sought-after investors in Silicon Valley, it’s because he has a knack for figuring out how things work. At Facebook, he led the team that studied online behavior. Then, he figured out how to grow that service from 50 million users when he joined in 2007, to […]
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