As trade tensions continue to escalate globally, top Chinese officials have reiterated the country’s commitment to focusing on its own affairs. Deputy director at the Chinese Communist Party’s central committee office for financial and economic affairs, Han Wenxiu, emphasized the importance of prioritizing internal stability and development. He outlined three key areas of focus: the
Finance
Buying a new electric vehicle isn’t the only way consumers can access a $7,500 federal EV tax credit. They may also be able to get the money by leasing a car. The Inflation Reduction Act, which President Joe Biden signed in 2022, contained various rules related to consumer tax breaks for EVs. Perhaps the best
JD Vance, the new running mate of U.S. presidential candidate Donald Trump, made headlines with his strong stance on China during his recent speech at the Republican National Convention. Vance emphasized the need to protect the wages of American workers and prevent the Chinese Communist Party from exploiting American citizens to build their own middle
Federal Reserve Governor Christopher Waller has expressed optimism in potential interest rate cuts in the near future, as long as there are no major surprises in inflation and employment data. He believes that the current data trends are aligned with achieving a “soft landing” and suggests that a rate cut might be warranted in the
Small-cap stocks are currently experiencing a significant surge in the market. After surpassing megacap technology shares last week, these smaller companies are now leading the bull market. The Russell 2000 index, representing this group, has shown steady growth, with a 1% increase on Tuesday and reaching its highest level since January 2022. If the index
The price of gold reached a new record high on Tuesday, with futures climbing 1.5% to $2,465.30. This sharp increase was fueled by growing expectations of an interest rate cut in September, leading to heightened demand for bullion. Spot gold also hit an all-time high of $2,465.19 during the session, indicating a significant surge in
Deutsche Bank, a prominent financial institution, has recently come under scrutiny for incorrectly disclosing its deferred tax assets in its 2019 financial statement. The German regulator BaFin, which stands for the Federal Financial Supervisory Authority, pointed out that the declarations made by the bank regarding deferred tax assets were incomplete. Specifically, BaFin highlighted that 2.076
The attempted assassination of former President Donald Trump at a Pennsylvania rally over the weekend has sparked condemnation from the leaders of Wall Street’s most powerful firms. JPMorgan Chase CEO Jamie Dimon expressed his sadness towards the political violence and attempt on Trump’s life in a memo to employees. Dimon emphasized the importance of standing
Goldman Sachs announced on Monday that it had surpassed profit and revenue estimates for the second quarter, driven by better-than-expected fixed income results and smaller loan loss provisions. The company reported earnings of $8.62 per share, beating the estimated $8.34 per share. Additionally, revenue came in at $12.73 billion, surpassing the $12.46 billion estimate. The
China’s National Bureau of Statistics recently released data on the country’s economic performance in the second quarter of the year, revealing that the GDP growth rate was lower than expected. The actual growth rate of 4.7% fell short of the 5.1% growth forecasted by a Reuters poll. This discrepancy indicates a potential slowdown in China’s
