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European banks expect a surge in profits for Q4 2023, driven by robust lending margins and investment banking revenues. However, analysts question the sustainability of this growth as interest rates fall.
Published on: January 28, 2025, 08:01 AM UTC
German chemical company Wacker Chemie reports a 7% decrease in annual core profit to €770 million due to decreased demand, lower sales, and high energy costs. Despite sales falling 11% to €5.72 billion, the company exceeded analyst expectations.
Published on: January 28, 2025, 08:01 AM UTC
Asian hedge funds and currency traders face uncertainty amid tariff risks, tech concerns, and looming holidays, leading to mixed performance of the dollar against major currencies.
Published on: January 28, 2025, 08:00 AM UTC
Copper edged lower after US President Donald Trump said he planned to impose import tariffs on the metal, as well as aluminum and steel amid trade war fears.
Published on: January 28, 2025, 07:03 AM UTC
Chinese AI app DeepSeek sparks tech sell-off, wiping out $1 trillion in market cap on Wall Street, with Nvidia losing the most.
Published on: January 28, 2025, 07:03 AM UTC
Investors fear a cheaper, open-source language model could challenge Nvidia's dominance in AI. However, analysts say panic-selling may be overdone, as more efficient models could expand AI use.
Published on: January 28, 2025, 07:02 AM UTC
Concerns over AI competition sparked a sell-off in Big Tech, highlighting the market's dependence on their earnings growth. Nvidia, Microsoft, and Alphabet dropped, while Broadcom fell over 17%.
Published on: January 28, 2025, 07:01 AM UTC
India's net borrowings may decline again, boosting bonds as the government maintains fiscal consolidation.
Published on: January 28, 2025, 07:01 AM UTC
Indian stocks continue to decline, with smallcap firms leading the plunge. Foreign investors have withdrawn billions, leading to concerns over valuations and growth prospects. The NSE Nifty Smallcap 250 Index has lost 20% from its September peak, indicating a bear market.
Published on: January 28, 2025, 07:01 AM UTC
Germany's AAA credit rating is at risk due to structural weaknesses, including high energy prices, inadequate infrastructure investment, and labor market reforms, warns Scope Ratings.
Published on: January 28, 2025, 07:00 AM UTC