The euro took a sharp dive as French President Emmanuel Macron decided to call for a surprise election following a defeat in the European Union vote by the far-right. The currency fell by 0.3% in Asian trading, reaching a one-month low of $1.0764. Additionally, it plummeted to a 21-month low of 84.60 pence. This sudden
Iconic homes once owned by celebrities have always captured the attention of the public and lately, they have been in high demand among the uber-wealthy. These properties often come with a hefty price tag that goes beyond what the average market equivalent would cost. Real estate experts have noted that there is a certain prestige
The Group of Seven (G7) wealthy democracies are gearing up to issue a stern warning to smaller Chinese banks regarding their involvement in helping Russia evade Western sanctions. The upcoming summit, scheduled to take place from June 13-15 in Italy, will see leaders delving deep into discussions on the burgeoning Chinese-Russian trade and its implications
Chanel, one of the top luxury fashion labels in the world, faced a significant event with the departure of its top designer. This departure sent ripples across the $1.62 trillion luxury goods industry as it signaled a shift in the industry dynamics. The departure of Chanel’s designer, Virginie Viard, who succeeded Karl Lagerfeld, raised questions
Israeli Finance Minister Bezalel Smotrich has called for talks next week to draft the 2025 state budget. These discussions are described as “marathon discussions” and are aimed at moving the economy forward from a war that has put a strain on public finances. The Finance Minister stressed the importance of boosting growth during these talks.
The focus on the Japanese Yen remains high as investors eagerly await the Bank of Japan’s interest rate decision. Speculations suggest that the Bank of Japan will leave interest rates untouched on Friday. However, the main attraction will be the monetary policy statement and press conference that follows. Analysts will be looking for forward guidance
The CEO of an alternative trading platform, Kelly Rodriques, is determined to revolutionize the private equity investing landscape. In an effort to combat the challenges faced by the stalling initial public offering market, Rodriques partnered with Accuidity to introduce the Forge Accuidity Private Market Index. The primary objective of this initiative is to provide more
Following the recent decision by the European Central Bank (ECB) to slash its benchmark interest rate, there seems to be uncertainty surrounding the potential implications of this move. ECB policymaker Robert Holzmann has expressed reservations about whether this rate cut signals a definitive shift towards lower borrowing costs or if it is merely a temporary
During a state visit to France, President Emmanuel Macron and President Joe Biden emphasized the importance of preventing a broader escalation in the Middle East. Macron highlighted the need to calm the situation between Israel and Hezbollah, with a key priority being to avoid a regional explosion in Lebanon. Both leaders expressed their commitment to
The recent bankruptcy of Synapse, a fintech middleman, has left customers in shock as they realize that there is an $85 million shortfall between what partner banks are holding and what depositors are owed. The trustee, Jelena McWilliams, appointed by the court, revealed that customers of fintech firms using Synapse had $265 million in balances,
Recently, a group of Credit Suisse bondholders took legal action against the Swiss government, demanding full compensation for the controversial decision to write down the bank’s Additional Tier 1 (AT1) debt. This move was a result of Credit Suisse’s emergency sale to UBS, which was orchestrated by the Swiss government. The Swiss regulator Finma decreed
William Li, the CEO of Chinese electric car company Nio, announced plans to expand the company’s presence to the Middle East by the end of this year. This decision comes at a time when competitors in the electric car market are also increasing their global footprint. Nio, which recently received funding from Middle East-based investors,