July 6, 2024
Chicago 12, Melborne City, USA
United Kingdom

National Grid to Raise $9 Billion in Largest UK Rights Issue Since 2009

Britain’s National Grid (NG.L) has announced plans to raise approximately £7 billion ($8.9 billion) through a rights issue, marking the largest UK capital raising effort of this kind since 2009. This move is aimed at supporting the company’s ambitious £60 billion investment in energy networks, essential for achieving the UK’s target of decarbonizing its power

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Politics World

Wall Street Prepares for Faster Trade Settlement Amid Potential Risks

Starting Tuesday, U.S. trading will shift to a shorter settlement period, a move regulators believe will reduce risk and enhance efficiency in the world’s largest financial markets. However, this transition is expected to initially increase transaction failures for investors. To comply with a rule change adopted by the U.S. Securities and Exchange Commission (SEC) in

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United States

US Weekly Jobless Claims Decline, Signaling Continued Labor Market Strength

The number of Americans filing new claims for unemployment benefits fell last week, underscoring the ongoing strength of the labor market, which is essential for sustaining economic growth. For the week ending May 18, initial claims for state unemployment benefits decreased by 8,000 to a seasonally adjusted 215,000, according to the Labor Department. This figure

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United States

Morning Brief: Nvidia’s Surge, Fed’s Cautious Stance, and UK Election Impacts

As the markets open, Nvidia’s impressive quarterly earnings have bolstered U.S. stock futures, despite concerns over hawkish Federal Reserve meeting minutes, escalating military tensions around Taiwan, and the announcement of an early UK election. Nvidia continues to thrive amid the AI boom, with its stock soaring 7% in after-hours trading. The company’s forecast for second-quarter

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World

Improved Global Business Activity Casts Doubt Over Imminent Rate Cuts

Global business activity saw notable improvements this month, particularly in parts of Asia and Europe, according to recent surveys. This positive momentum provides central banks with a potential reason to delay interest rate cuts. Initially, borrowing costs were increased post-COVID-19 to combat soaring inflation. Now, the conversation is shifting to when, and by how much,

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United Kingdom

Rishi Sunak’s Early Election Call Sparks Conservative Discontent

Prime Minister Rishi Sunak’s decision to call a British election much earlier than anticipated has stirred strong emotions among Conservative lawmakers, ranging from tears to frustration. Many Conservative MPs, some fighting to retain their seats, feel that six weeks may not be enough to sway skeptical voters. For those planning to step down, the sudden

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Middle East

Israeli Forces Intensify Operations in Gaza’s North and South

Israeli forces intensified their operations across the Gaza Strip on Thursday, resulting in the deaths of 35 Palestinians through aerial and ground bombardments, according to health officials and Hamas media reports. The situation escalated in the southern city of Rafah, where Israeli troops engaged in close combat with Hamas-led militants. Residents reported Israeli tanks advancing

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Middle East World

Saudi Arabia Commits to Stable Oil Supply for Japan, Expands Clean Energy Collaboration

In a recent virtual meeting with Japanese Prime Minister Fumio Kishida, Saudi Arabian Crown Prince Mohammed bin Salman affirmed his commitment to maintaining a stable supply of crude oil to Japan. This assurance was part of broader discussions aimed at enhancing cooperation in clean energy sectors such as hydrogen and ammonia, according to a statement

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Business Europe World

Yellen Presses German Banks for Tighter Compliance on Russian Sanctions

During a pivotal meeting in Frankfurt, U.S. Treasury Secretary Janet Yellen called on top executives of German banks to intensify their compliance with sanctions imposed on Russia, emphasizing the necessity to obstruct any evasion efforts. Yellen articulated the significant role these banks play in upholding economic barriers set against Russia, particularly in relation to transactions

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China News World

China’s Strategy to Stabilize Property Sector Unveiled by Vice Premier

In a recent statement, China’s Vice Premier He Lifeng announced comprehensive measures to manage the risks associated with the country’s property sector, local government debt, and small financial institutions. This initiative is part of a broader effort to bolster confidence in China’s financial system, currently grappling with a property downturn and escalating local government liabilities.

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