In response to a surge in scams related to cryptocurrencies and other investments, Britain’s financial services regulator, the Financial Conduct Authority (FCA), has introduced new guidelines for financial services companies and social media influencers. These guidelines aim to ensure that any marketing, including memes, for financial products is fair, clear, and not misleading. The FCA
Finance
The Central Bank of Nigeria recently announced a 200 basis point increase in its key interest rate, raising it to 24.75% from 22.75% as part of its efforts to counter a severe currency crisis and rising inflation. This move comes after a previous increase of 400 basis points in February, highlighting the bank’s commitment to
The Nigerian government has recently taken action against Binance, a global cryptocurrency exchange, by filing new tax evasion charges at the Federal High Court in Abuja. The charges include alleged non-payment of Value-Added Tax (VAT), company income tax, failure to submit tax returns, and complicity in aiding customers to evade taxes through its platform. This
The Asia-Pacific region experienced a significant decline in private equity deals last year, with the total value falling to its lowest point since 2014. This drop was attributed to various factors such as slowing growth, high interest rates, and volatile public markets. Fundraising also reached a 10-year low, indicating a lack of investor confidence in
Roundhill Investments, a prominent exchange-traded fund provider, is gearing up to introduce a new fund that spotlights companies involved in the development of GLP-1 drugs in the health care sector. Dave Mazza, the chief strategy officer at the firm, anticipates unveiling more details about the fund’s launch in May, emphasizing the significance of keeping a
In the world of tech investing, sovereign wealth funds are a powerful player, with big names like Amazon, Alphabet, and Salesforce leading the charge. However, not all investors are welcomed with open arms, as seen in the case of Anthropic, a growing artificial intelligence startup that’s making waves in the industry. While some like UAE-based
The recent surge in immigration in the United States has sparked discussions about its impact on the economy. Joyce Chang, chair of global research at JPMorgan, believes that immigration has played a crucial role in bolstering the economy and driving growth. The U.S. Federal Reserve has raised its GDP growth projection for 2024 to 2.1%,
Trade tensions between Europe and Beijing are on the rise due to China’s increasing ability to manufacture goods more affordably in key industries. Jens Eskelund, president of the European Union Chamber of Commerce in China, warned that Europe is facing a slow-motion train accident as strategically important industries are being priced out of the market.
Hindenburg Research, a New York-based activist short-seller founded by Nate Anderson, has been making waves in the financial world with its hard-hitting reports that have led to significant share price declines for various big-name companies. Despite the potential legal risks involved in their work, Hindenburg has built a reputation for fearlessly taking on billionaires like
China’s economic data for the first two months of the year has exceeded analysts’ expectations in various sectors. Retail sales, industrial production, and fixed asset investment all showed growth rates that surpassed earlier estimates. The unemployment rate in cities for February was reported at 5.3%, indicating a stable job market. Meanwhile, online retail sales of
