Thursday, September 21, 2023

Fitch downgrades US Credit rating

Market Desk (Finance): Fitch, the world's top local credit rating agency, downgraded the US's top credit rating by one notch to AA+ from AAA. Fitch said this was due to poor financial management. In a surprise move on August...

Global economy in weakest growth since 1990, says IMF chief

Market Desk (Finance): Kristalina Georgieva, the IMF’s MD, said a sharp slowdown in the world economy last year after the aftershocks of the pandemic and the Russian invasion of Ukraine would continue in 2023 and risked persisting for the...

Silicon Valley Bank’s UK arm acquired by HSBC for just over 1 pound

Market Desk (online): HSBC bought the UK arm of Silicon Valley Bank for a symbolic one pound on Monday, rescuing a key lender for technology start-ups in Britain, as the biggest bank collapse since the financial crash continued to...

Closed Signature Bank by regulators, the 3rd US bank failure in week

Market Desk (New York): Signature Bank, 1 of the 2 big US destinations for crypto companies has been closed by New York regulators. “All depositors of this institution will be made whole” the Treasury, Federal Reserve and Federal Deposit...

El Salvador to establish ‘Bitcoin Embassy’ in Texas

Market Desk (Finance): Texas was chosen for Bitcoin Embassy due to its thriving tech industry and favorable regulatory environment. It has been a popular destination for tech companies and startups due to its low taxes and friendly policies....

King Charles III, new face of UK money

Market Desk (Finance): The Bank of England on Tuesday is unveiled new designs for British pound banknotes that feature the image of King Charles III. Currently, UK bills show the image of Queen Elizabeth II, who died in September...

Zoom shares down 90% from peak in October 2020

Market Desk (Finance): Shares of Zoom Video Communications Inc, has tumbled about 90% from their pandemic peak in October 2020 to adjust to a post-COVID world. The stock was down nearly 10% on Tuesday after the company cut its annual...

UK inflation accelerates high 11.1% since last 41 year

Market Desk (Finance): Britain inflation rate rose to 41 year high in October, fueling demands for the government to do more to ease the nation’s cost of living crisis when it releases new tax and spending plans Thursday. Consumer prices...

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The latest EV from Tesla will travel 606 kilometers on single charge

Market Desk (Tech): Tesla, an US manufacturer is promoting the Model 3 in China. On Friday, the new model’s...