Elizabeth and her husband found themselves in a tough financial situation when they filed for Chapter 13 bankruptcy to manage their growing debt. Unfortunately, their decision led to even more debt and regret. Elizabeth admitted to making some poor choices out of panic, resulting in a total debt of $91,000 and struggling to afford their … Read more
Swedish truck maker AB Volvo reported a larger than expected decrease in third-quarter adjusted operating profit, citing continued normalization of demand in most of its markets. Adjusted operating profit for the quarter was 14.1 billion crowns, down from 19.3 billion in the same period last year and below the average analyst forecast of 15.6 billion. … Read more
“ De-risking has been a prevalent concept in the realm of UK pension professionals for over two decades. However, it is arguably one of the riskiest terms in the investment vocabulary. Firstly, let’s consider what de-risking entails in practice. For individuals in defined contribution pension schemes, where the pension size is determined by investment returns … Read more
Famed hedge fund manager and Duquesne Family Office founder Stanley Druckenmiller admits he isn’t Berkshire Hathaway’s Oracle of Omaha Warren Buffett. The billionaire investor, who hasn’t lost in a single quarter throughout his 30-year career, said he made a “big mistake” selling Nvidia too early after initially thinking he was going to hold it for … Read more
Customers are shopping at the new Costco store in Nanjing, Jiangsu Province, China on May 28, 2024. The National Bureau of Statistics reported better-than-expected retail sales and industrial production for September in China. Retail sales grew by 3.2% from a year ago, surpassing analysts’ expectations of 2.5% growth. This growth rate was higher than the … Read more
As technology giants increasingly focus on nuclear power to support artificial intelligence and data centers, one particular producer is experiencing a significant surge in its stock value. Oklo, a nuclear power company backed by OpenAI CEO Sam Altman, has witnessed a staggering 150% increase in its shares over the past month. The stock has risen … Read more
Most Asian currencies remained stable on Friday as the dollar held steady at more than two-month highs due to strong economic data, which reinforced expectations of smaller interest rate cuts. Regional markets were largely unaffected by Chinese gross domestic product data showing expected growth in the third quarter. The yuan slightly strengthened after the data … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donations to Harvard University fell 14 per cent in the fiscal year ending June 30, as large donors cut ties and prominent alumni in the financial industry criticised its administration over a botched response to … Read more
Wall Street remained close to its record highs but ended the day with minimal changes compared to Tuesday. In contrast, China’s stock market experienced a decline due to a disappointing housing stimulus announcement, while Japan’s market was impacted by weak export data. Despite this, Taiwan’s TSMC continued to perform well, along with companies like Nvidia … Read more
Nvidia’s surge to a new all-time high on Thursday briefly pushed the S&P 500 into uncharted territory, leaving investors wondering what the future holds for the artificial intelligence sector. At one point, the chipmaker’s shares rose as much as 3.8% in Thursday’s trading session, reaching above $140. This marked the first new intraday high for … Read more