Regional banks have begun to turn the corner on net interest income (NII) in the second quarter, signaling a potential recovery after a prolonged period of decline. PNC Financial Services Group Inc. and M&T Bank Corp. both reported their first increases in NII since 2022. Meanwhile, US Bancorp ended a streak of four consecutive quarterly […]
In a dynamic shift within the electric vehicle (EV) market, Tesla Cybertruck has emerged as the top-selling electric pickup, surpassing competitors like Ford’s F-150 Lightning and Rivian’s R1T. Despite this milestone, Tesla faces significant hurdles as it strives to expand its foothold in the burgeoning EV truck segment. Cybertruck Dominance According to data from Cox […]
China central bank, the People’s Bank of China (PBOC), is embarking on a groundbreaking initiative in global monetary policy by taking inspiration from hedge fund strategies: short-selling government bonds. As President Xi Jinping and top Party leaders convene for the once-in-five-years Third Plenum to outline China’s economic trajectory. Governor Pan Gongsheng and the PBOC are […]
UK watchdog probes microsoft The UK’s Competition and Markets Authority (CMA) has launched an investigation into Microsoft’s recruitment of senior personnel from start-up Inflection AI. This move follows earlier concerns regarding close alliances within the tech and AI sectors, raising questions about competitive fairness and industry dynamics. The CMA is scrutinizing whether these hiring practices […]
Canada Inflation Slows again, providing the Bank of Canada with an opportunity to reduce interest rates next week. The consumer price index (CPI) increased by 2.7% in June compared to the previous year, down from 2.9% in May, according to a report from Statistics Canada released on Tuesday in Ottawa. This figure aligned with the […]
In a promising turn for the US retail sales excluding automobiles saw a significant rebound in June, marking the largest increase in three months. This uptick suggests that consumers regained momentum towards the end of the second quarter. This is despite challenges such as high interest rates and a cooling labor market. Key Statistics and […]
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