Recently, The Wall Street Journal reported that the Justice Department has initiated a criminal investigation into the Alaska Airlines incident that occurred two months ago. The incident involved a door panel blowing out mid-air while Flight 1282 was en route to Ontario, California from Portland, Oregon. This event led to a section of the plane
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President Joe Biden recently signed a $460 billion spending bill into law, preventing a partial government shutdown that was looming over the weekend. This bill covers funding for various departments, including military, veterans affairs, agriculture, commerce, justice, transportation, housing and urban development, and energy. On Friday night, the Senate voted 75 to 22 in favor
ESG funds are known for considering a company’s environmental, social, and governance factors when making investment decisions. However, these funds still aim to invest in top performers across various industry groups. According to DWS Group’s Arne Noack, the goal is not to be super concentrated and only select a handful of stocks based on ESG
China continues to grapple with structural employment challenges, and the strain on the job market remains unabated, as highlighted by the country’s Minister of Human Resources. Despite a promising start to the year, particularly in the fields of artificial intelligence and big data, there is an impending surge in new college graduates in 2024. With
Federal Reserve policymakers have been weighing the decision on when to start interest-rate cuts, and recent data has provided them with fresh reasons to remain on standby. A Labor Department report showed that U.S. employers added 275,000 jobs last month, surpassing economists’ expectations. However, revisions of prior months’ job gain estimates revealed smaller numbers than
OpenAI, the world’s leading artificial intelligence company, has announced the return of Chief Executive Sam Altman to its board, along with three new directors. This decision comes after an investigation by law firm WilmerHale into the events surrounding Altman’s November firing. The board has unanimously supported Altman’s leadership, and the company has implemented new governance
On Friday, the U.S. Senate narrowly escaped a partial government shutdown by passing a $467.5 billion spending package with a bipartisan vote of 75-22. This legislation is set to fund various government agencies, including agriculture, transportation, housing, energy, veterans, and more until the end of the fiscal year on September 30. The Senate managed to
Recently, the mobile app Alipay announced that foreign visitors to China can now spend up to $2,000 a year without having to register their ID. This is a significant increase from the previous limit of $500, and it is expected to have the most impact on international tourists. The move comes as China has been
The USD/CAD exchange rate has been on a downward trend due to the rise in Crude oil prices. This correlation is evident as the Canadian Dollar (CAD) tends to strengthen when oil prices increase. The recent surge in West Texas Intermediate (WTI) prices to nearly $78.90 has contributed to the weakening of the USD/CAD pair.
The USD Index (DXY) recently broke below the 103.00 support level, leading to a significant decline in the US dollar. This event, combined with the European Central Bank’s decision to maintain monetary conditions unchanged, has pushed the EURUSD pair to new multi-week highs near 1.0950. The charts suggest a bearish sentiment, with resistance trendlines and
The Asian stock markets witnessed a boost as they reached a seven-month peak, in alignment with global peers. Investors were optimistic due to the possibility of a rate easing cycle led by major central banks which ultimately kept the dollar and Treasury yields subdued. Despite this positive sentiment, Japan stood out as it was speculated
The upcoming US Jobs Report is expected to have a significant impact on the USD/JPY exchange rate. Economists are forecasting an increase in nonfarm payrolls and a steady unemployment rate, but a decrease in average hourly earnings compared to the previous month. Aside from the statistical data, market participants will need to pay close attention