The British fund manager abdrn recently predicted that the U.S. economy is headed for a soft landing in 2025. However, Kenneth Akintewe, the company’s head of Asian sovereign debt, expressed concerns about the potential for a prolonged slowdown. In an interview with CNBC’s “Squawk Box Asia,” Akintewe raised the question of whether the Federal Reserve
Finance
China’s gaming industry recently made a significant leap onto the global stage with the release of Black Myth: Wukong. This top-tier video game, set in mythological China, shattered world records by selling over 10 million units within just three days of its launch on Aug. 20. The game continued its impressive streak by still ranking
Chinese President Xi Jinping recently met with U.S. national security advisor Jake Sullivan to discuss the importance of improving relations between China and the United States. Xi emphasized China’s commitment to a stable, healthy, and sustainable relationship with the U.S., despite the escalating tensions between the two countries in recent years. During the meeting, Xi
Dollar General, a well-known discount retailer, faced a significant setback as its shares plummeted due to a reduction in its sales and profit forecasts for the year. This unexpected turn suggests that their customer base, which mainly consists of individuals with lower incomes, is encountering financial difficulties in the current economy. Revised Guidance The company
The Chinese electric car industry is currently witnessing a shift towards in-house designed auto chips, with companies like Nio and Xpeng leading the way. This development marks a significant departure from the reliance on Nvidia chips that many electric car makers in China have had in the past. The move towards in-house chips is driven
The White House announced that U.S. President Joe Biden and Chinese President Xi Jinping are scheduled to speak over the phone in the “coming weeks.” This comes as the U.S. national security adviser, Jake Sullivan, is currently in Beijing meeting with China’s top diplomat, Wang Yi. In addition to the leader-level call, both sides mentioned
Xpeng, a Chinese electric car company, recently unveiled its new mass-market Mona brand with prices starting as low as $16,812. This move posed a direct challenge to Tesla’s cheapest Model 3. The debut of the Mona M03 electric coupe was met with overwhelming demand, as orders exceeded 10,000 within just 52 minutes of the car’s
The Russell 2000 index experienced a significant uptick of 10.1% in July, only to plummet by approximately 4% in August, according to recent data. This rollercoaster ride in performance has left investors wondering about the underlying reasons behind such erratic movements. ALPS’ Paul Baiocchi attributes the volatility to the composition of the index, highlighting a
In light of the upcoming Federal Reserve interest rate decision in September, there seems to be a growing trend among investors towards dividend stocks. Paul Baiocchi from SS&C ALPS Advisors believes that this is a wise move, as he anticipates the Fed will lower rates. Baiocchi, who serves as the chief ETF strategist, highlighted that
As Federal Reserve Chair Jerome Powell prepares to deliver his policy speech at the annual central bankers conference in Jackson Hole, Wyoming, market expectations for rate cuts are already set in stone. The general consensus is that the Fed will begin cutting rates in September and will likely continue to do so through the end