Author: News Room

By Fanny Potkin (Reuters) – China’s Huawei plans to start mass-producing its most advanced artificial intelligence chip in the first quarter of 2025, even as it struggles to make enough chips due to U.S. restrictions, said two people familiar with the matter. The telecoms conglomerate has sent samples of the Ascend 910C – its newest chip, meant to rival those made by U.S. AI chipmaker Nvidia (NASDAQ:) – to some technology firms and started taking orders, the sources told Reuters. Huawei is at the heart of U.S.-China friction over trade and security. Washington has imposed a series of curbs on…

By Lisa Baertlein LOS ANGELES (Reuters) – Container shipping companies like Maersk, CMA CGM and COSCO have ordered hundreds of new vessels in recent years meant to help their industry slash greenhouse gas (GHG) emissions to meet rising demand from customers and regulators around the globe. Their order books, however, reflect uncertainty over which of a wide array of so-called green fuels will become the standard in the decades to come, and whether supplies will be cheap and abundant enough to keep their fleets in motion. Decarbonizing shipping is important to global efforts to fight climate change because it accounts…

EUR/GBP may depreciate as a recent UK inflation report has strengthened the BoE’s caution regarding rate cuts. ECB member Yannis Stournaras remarked that the Eurozone is nearing a sustainable attainment of its 2% inflation target. The Euro may face challenges as traders expect the ECB to deliver a 25 basis point rate cut in December. EUR/GBP appreciates after two days of losses, trading around 0.8340 during the Asian hours on Thursday. However, the upside of the EUR/GBP cross could be limited as Wednesday’s stronger-than-anticipated UK inflation report has bolstered the Bank of England’s (BoE) cautious approach toward future interest rate…

While the Swiss National Bank (SNB) is steamrolling with its experiments on a central bank digital currency (CBDC), the latest reports indicate that the banking regulator will adopt a cautious approach in rolling out SNB Bills. In an economic note, the central bank stated that rolling out digital SNB Bills to be settled in wholesale CBDCs has indicated early promise for participants. However, the paper notes that including the process in monetary policy may open a whole new can of worms for the SNB and other financial institutions in the country. The study involving digital SNB Bills forms part of…

Ray Dalio said Trump’s approach to governance was tried by hard-right states in the 1930s.The billionaire said he isn’t labeling Trump or his government as fascist.But he said a “government renovation” and an “America First” policy were similar to the operational styles of those regimes.Billionaire investor Ray Dalio said studying hard-right countries from the 1930s can shed light on how President-Elect Donald Trump would reshape the US government under the banner of efficiency.Dalio, who often publishes personal remarks on the global economy, wrote a LinkedIn commentary on Wednesday with his predictions for a second Trump administration.”It is now clear that…

The DOJ asked the judge in its antitrust case against Google to force the company to sell Chrome.Chrome is a key distribution method for Search, which provides crucial data for Google’s ads.A breakup would be a blow to Google and likely create opportunities for competitors.A possible breakup of Google just became slightly more likely.The Justice Department on Wednesday asked the judge in its antitrust case against Google to force the company to sell its Chrome browser.That follows Judge Mehta’s ruling in August that Google maintains an illegal monopoly in search and advertising markets. Google will get to suggest its own…

(Reuters) -Shares of Adani Group companies lost about $22 billion in market value in early trade on Thursday after U.S. prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme. Gautam Adani’s flagship company Adani Enterprises (NS:) fell 10%, while Adani Ports, Adani Total (EPA:) Gas, Adani Green, Adani Power (NS:), Adani Wilmar (NS:) and Adani Energy Solutions, ACC (NS:), Ambuja Cements (NS:) and NDTV fell between 8% and 20%. Adani group’s 10 listed stocks had a total market capitalisation of about $147 billion at 0411 GMT, compared to $169.08 billion on Tuesday. U.S. authorities said…

Investing.com– Gold prices rose in Asian trade on Thursday as heightened tensions between Russia and Ukraine underpinned safe haven demand, helping bullion weather strength in the dollar. Gold rose for a fourth consecutive session, extending a rebound from over two-month lows. But the yellow metal’s pace of gains now appeared to be slowing amid pressure from the dollar, as traders second-guessed expectations for lower U.S. interest rates.  rose 0.2% to $2,656.84 an ounce, while expiring in December rose 0.3% to $2,659.15 an ounce by 00:00 ET (05:00 GMT).  Russia-Ukraine tensions support gold demand  The yellow metal was underpinned by higher…

USD/CHF meets with a fresh supply on Thursday, though the downside seems limited. Expectations for a less dovish Fed and elevated US bond yields could support the USD. The risk-on mood could undermine the safe-haven CHF and lend support to the major. The USD/CHF pair struggles to capitalize on the previous day’s recovery from the vicinity of the 0.8800 mark or a one-week low and attracts fresh sellers during the Asian session on Thursday. Spot prices currently trade around the 0.8825 region, down just over 0.2% for the day, though any meaningful downside seems elusive in the wake of a…

President-elect Donald Trump has nominated Howard Lutnick, the Chairman and CEO of Cantor Fitzgerald and a prominent cryptocurrency advocate, to serve as the next United States Secretary of Commerce. The announcement was made on November 19 through a statement from Trump, followed by Lutnick’s acknowledgment of the appointment on social media. Details of The Appointment “I am thrilled to announce that Howard Lutnick will join my Administration as the United States Secretary of Commerce,” Trump said in his statement. The communication elaborated on Lutnick’s responsibilities, emphasizing that he would play an important role in advancing the president’s economic and trade…