A recent International Your Money Financial Security Survey conducted by SurveyMonkey revealed alarming statistics about the financial stress levels among adults in major economies worldwide. More than half of adults in countries like the U.S., Australia, Spain, and Mexico admitted to feeling “very or somewhat stressed” about their personal finances. This phenomenon has been largely
Finance
Cleveland Federal Reserve President Loretta Mester recently expressed her belief in the possibility of interest rate cuts within the year. She pointed out that the long-term trajectory for interest rates is higher than previously anticipated, indicating a potential shift in the policy direction. However, Mester did not provide any specific guidance on the timing or
In today’s financial landscape, the demand for exchange-traded funds (ETFs) is continuously increasing. Firms that do not have ETF offerings are at risk of losing business opportunities, according to a leading expert from Goldman Sachs. Steve Sachs, the global chief operating officer of Goldman’s ETF Accelerator, emphasizes the importance of adapting to the market trends
As the second quarter approaches, the Federal Reserve may find itself with new incentives to cut rates even deeper this year. Tony Dwyer, Canaccord Genuity’s chief market strategist, believes that a combination of a deteriorating jobs market and easing inflation will be the driving force behind the Fed’s decision to act more aggressively. In a
Mark Yusko, a hedge fund manager and the CEO of Morgan Creek Capital Management, recently made a bold prediction regarding the future price of Bitcoin. Yusko suggested that Bitcoin could more than double in value this year, reaching an impressive $150,000. This forecast has garnered attention from investors and cryptocurrency enthusiasts alike. Yusko advocates for
In a surprising turn of events, Chinese telecommunications company Huawei reported a significant increase in net profit for the year 2023. The company’s net profit more than doubled, thanks to a combination of better product offerings and a substantial revenue growth of 9.6% year-on-year, amounting to 704.2 billion yuan ($99.18 billion). Huawei also saw its
The Chinese smartphone company Xiaomi has made waves in the electric car market with the announcement of its first car, the SU7. Priced significantly lower than Tesla’s Model 3, the SU7 has garnered attention for its competitive price point of 215,900 yuan ($30,408) in China. Xiaomi CEO Lei Jun stated that the company will be
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
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