Japanese workers’ base pay increased by the largest margin since 1994, indicating that corporate commitments to raising wages are starting to have an impact. However, market players remain skeptical about the strength of this trend.
BlackRock, Citadel Securities-backed group to start new Texas stock exchange
A spokesperson for Citadel Securities announced on Tuesday that a group supported by BlackRock and Citadel Securities is preparing to establish a new national stock exchange in Texas.
No relief for emerging currencies seen as investors ponder elections, potential US easing
According to a recent Reuters poll of currency analysts, emerging market currencies are expected to face challenges in rebounding this year. The U.S. Federal Reserve’s reluctance to cut interest rates, along with the outcome of crucial national elections, are likely to exert pressure on these currencies.
Hindalco-owned Novelis postpones US IPO
Novelis, an aluminum products manufacturer owned by Hindalco Industries, the company of Indian billionaire Kumar Mangalam Birla, has decided to postpone its planned initial public offering (IPO) due to current market conditions.
China’s robust services activity drives up employment, Caixin PMI shows
According to a private sector survey, China’s services activity in May grew at its fastest pace in 10 months, indicating a sustained recovery in the second quarter. The Caixin/S&P Global services purchasing managers’ index (PMI) increased to 54.0 from 52.5 in April, marking the 17th consecutive month of expansion and the highest growth rate since July 2023.
BlackRock, Citadel Back Upstart Texas Challenge to NYSE, Nasdaq
BlackRock Inc., Citadel Securities, and other investors are supporting a new stock market in Texas that aims to challenge the dominance of the New York Stock Exchange and Nasdaq Inc.
Asian stocks rise on rate-cut wagers; spotlight on India
Asian stocks saw gains on Wednesday, with the dollar remaining stable. This comes as the weakening U.S. labor market increases expectations of a September interest rate cut by the Federal Reserve. However, concerns about a slowdown in the U.S.
Australia Economy Remains Weak on Household Spending Squeeze
Australia’s economy experienced another period of sluggish growth in the first quarter of the year, as households grappled with high interest rates and living costs. According to data from the Australian Bureau of Statistics, gross domestic product (GDP) expanded by a mere 0.1% compared to a revised 0.3% in the previous quarter,