According to the Financial Times' calculations based on recently disclosed annual reports, the "Big seven" Western financial firms cut the number of employees in their investment banking divisions in China last year by 13%, or 1.781 thousand individuals, which is the largest reduction in many years. These include JPMorgan Chase & Co., UBS, HSBC, Credit Suisse, Deutsche Bank, Morgan Stanley,...

Among the firms used to calculate the S&P 500 U.S. stock index, Super Micro Computer's shares emerged as the most rapidly growing in the first half of the year, according to MarketWatch. The company’s stock price increased by 188%, or 2.9 times. According to MarketWatch, this was made possible by the industry's overall upswing in anticipation of a growth in the need for AI technologies as well as...

Major US banks plan to boost their dividend payments to shareholders after passing the stress tests conducted by the Federal Reserve. The Fed came to the conclusion that the banks could survive a significant economic downturn, and as a result, they intend to release excess capital to shareholders. JPMorgan Chase & Co. intends to increase its quarterly dividend to $1.25 per share from $1.15...

According to Reuters, cargo ships in Singapore, the world's largest seaport, must wait days to be loaded and unloaded. This resulted from the Houthis' bombardment of merchant ships in the Red Sea, which hampered the flow of cargo. The Red Sea is constantly under attack, therefore ship operators would rather take longer routes around Africa.  There are fewer actual journeys now that ships...

A report by the United Nations Conference on Trade and Development (UNCTAD) shows that worldwide foreign direct investment (FDI) flows decreased by 2% to $1.33 trillion in 2023 amid general concern about the prospects for global economic development. According to UNCTAD data, the amount of foreign direct investment (FDI) flowing globally in 2023 decreased by 2% to $1.33 trillion. Amidst the...

The Chinese government has invested at least $231 billion in the establishment and growth of the country's electric car industry between 2009 and 2023. This is reported in a study released by the Center for Strategic and International Studies (CSIS), a US-based organization. Scott Kennedy, the director of CSIS's China Economy and Business Research Unit, estimates that this amounts to roughly...

Before the U.S. market opens on June 24, American Depositary Shares (ADSs) of British chipmaker Arm Holdings plc will be added to the Nasdaq 100 index, the Nasdaq exchange operator announced in a press statement. The securities will replace papers of American radio broadcaster Sirius XM Holdings. The Nasdaq 100 comprises shares of the 100 non-financial issuers with the highest market...

Global chip sales reached $46.4 billion in April, up 15.8% year over year, according to a Semiconductor Industry Association (SIA) press release. The number grew by 1.1% from March. SIA President and CEO John Neuffer stated, "The global semiconductor industry has posted double-digit year-over-year growth rates in every month of 2024, with month-over-month sales increasing in April for the first...

Wells Fargo strategists believe that the S&P 500 index may rise as high as 5,700 points during the surge following the US presidential election this autumn. The indicator's value at the end of trade on June 3 was 5,283.4 points; this means that the bank's analysts' prognosis calls for growth of about 8% from the current level. "Compared to previous election years, the S&P 500 index has...