The Bank of Korea said it expects inflation to rise next month due to the weak won, which is expected to remain below 2 percent in February. (Kim Ten)
The mayor of Lviv said that due to Russian airstrikes, several residential buildings were burned and some schools were canceled.
Mitsubishi UFJ said the dollar could fall further after its recent decline as the Federal Reserve is likely to start cutting interest rates in September and could signal a further rate cut than previously expected. "The next set of forecasts in September will show higher unemployment and lower inflation, which will form the basis for the start of the rate-cutting cycle," analysts said. The median rate forecast for 2024 could rise from one rate cut to possibly three or four, they said. However, b...
Mr. Bocelli, PGIM's chief US economist, said the US's focus had shifted from inflation to labour market easing because of a cyclical hiring slowdown over the past few months, allowing the Fed to start cutting interest rates in September. The Fed is expected to announce a September cut at its meeting tonight. Another cut is likely at the December meeting, and the possibility of a November cut cannot be ignored. The Fed is expected to cut interest rates by about 150 basis points by the end of 2025...
Mr. Musk said the dollar was becoming like the Zimbabwean dollar because of "value destruction".
Investment bank Benchmark said in a research note on Monday that the growing interest in crypto miner energy assets from artificial intelligence (AI) and high-performance computing (HPC) companies in recent months has boosted the value of Bitdeer. As a result, Benchmark raised its price target on Bitdeer from $13 to $16 and reiterated its buy rating on the stock, which traded at $11.10 in pre-market trading.
Bitfinex Securities said it would refund its investors in the El Salvador International Airport Hilton project after failing to attract the minimum $500,000 needed to continue operations. The project was El Salvador's initial public offering of digital debt assets, but only raised $342,000 from investors before the first deadline, just 5% of the $6.25 million it hoped to raise. The funds are designed to fund the construction of the Hampton Inn by Hilton, which covers an area of 4,500 square feet...