In the upcoming year, many workers may find themselves disappointed with the size of their annual pay raise as the job market enters a phase of cooling off. According to a recent poll conducted by WTW, a consulting firm, the average worker is projected to receive a 4.1% pay raise for 2025, down from the
Global Finance
The semiconductor industry has been witnessing a significant shift in recent years, especially in China. According to a recent report by Bank of America analysts, four of the world’s largest semiconductor equipment manufacturers, including ASML, have experienced a substantial increase in their China revenue since late 2022. This surge in revenue is attributed to China’s
Alphabet, the tech giant, saw a 1% drop in its stock price despite beating both top and bottom line expectations in the second quarter. The company reported earnings of $1.89 per share on $84.74 billion in revenue, surpassing the consensus estimates. However, the revenue generated from its YouTube advertising segment fell short of forecasts. Shares
In a surprising move, Berkshire Hathaway decided to trim its significant Bank of America holding for the first time in over four years. This decision came after the bank’s impressive performance in 2024. The conglomerate sold 33.9 million shares of Bank of America in separate sales over a span of three days, totaling almost $1.5
The current trend in the market of increased investment in small-cap stocks may not simply be a rotation from previous winning growth trades, according to Dave Nadig, an ETF journalist and financial futurist. In fact, Nadig believes that investors are actively diversifying their portfolios rather than shifting their focus solely towards small caps. This diversification
Chinese officials recently emphasized the importance of focusing on the country’s internal affairs amidst rising trade tensions. Han Wenxiu, deputy director at the Chinese Communist Party’s central committee office for financial and economic affairs, highlighted three key areas of focus. These include the stable and healthy development of the real estate market, accelerated development of
China’s economic growth has led to the rapid expansion of its middle class, with the number of upper-middle and high-income households expected to reach 200 million next year according to McKinsey. However, despite this growth, China still lags behind the U.S. in terms of per capita income. The per capita disposable income of China’s middle-income
Federal Reserve Governor Christopher Waller recently expressed his belief that interest rate cuts are on the horizon, provided there are no unexpected developments in inflation or employment. In a speech at the Kansas City Fed, Waller indicated that the current data align with the possibility of a “soft landing” and mentioned that he will closely
HSBC recently made a strategic decision to appoint Georges Elhedery as the group CEO, with his new role commencing on September 2nd. Elhedery, who currently serves as the chief financial officer, will be taking over from Noel Quinn, who has been leading the organization for nearly five years. This transition in leadership comes as a
Gold prices skyrocketed to an all-time high on Tuesday, reaching $2,465.30 per ounce, surpassing the previous record set back in May. This surge can be attributed to the increasing expectations of an interest rate cut in September, which has led to heightened demand for gold across the market. The Federal Reserve’s recent signaling of a
The recent attempted assassination of former President Donald Trump at a rally in Pennsylvania over the weekend has sparked condemnation from the leaders of Wall Street’s most influential firms. JPMorgan Chase CEO Jamie Dimon expressed his deep sadness at the political violence and emphasized the importance of standing together against acts of hate and intimidation.
Goldman Sachs reported a significant increase in profit and revenue in the second quarter, exceeding analyst expectations. The company’s earnings per share came in at $8.62, surpassing the estimated $8.34 per share. Revenue also outperformed, hitting $12.73 billion compared to the projected $12.46 billion. The standout performer for the quarter was the fixed income division,