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Bank of England Cuts Interest Rates to 5%
The Bank of England cut interest rates by 0.25% to 5% with a narrow 5-4 vote, as inflation met the 2% target. This decision caused the British pound to weaken and led to a slight rebound in UK equities. The Bank of England cut interest rates at its August meeting for the first time since…
August 1, 20245 minRead time
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Finance News
Eurozone GDP Grows 0.3%, but Germany Contracts by 0.1%
The eurozone's GDP grew 0.3% in the second quarter of 2024, exceeding expectations, but Germany's contracted by 0.1%, indicating economic struggles for the bloc’s largest economy. Economic growth in the eurozone exceeded expectations in the second quarter of the year, according to preliminary data from Eurostat released on Tuesday. The eurozone's gross domestic product grew…
July 30, 20245 minRead time
Finance News
Germany’s business climate worsens in July: European stocks plunge
Germany's business sentiment worsened more than expected in July, marking the second consecutive monthly decline, bolstering fears that the Eurozone's largest economy is once again under pressure. Sentiment among German companies worsened more than anticipated in July, marking the second consecutive monthly decline, the ifo Institute reported on Thursday. DAX Chart Daily Time Frame The monthly…
July 26, 20245 minRead time
Stocks
Top Stock Movers Now: Tesla, Alphabet, AT&T, and More
KEY TAKEWAYS U.S. equities sank at midday Wednesday as tech stocks tumbled in the wake of disappointing earnings reports.  Tesla shares plunged after the electric vehicle maker missed earnings estimates as it cut prices to boost sales. AT&T shares rose after the company posted better-than-expected postpaid phone net additions and free cash flow. U.S. equities…
July 24, 20242 minRead time
Stocks
CrowdStrike Stock Plunges, Rivals Jump, as Update ‘Defect’ Causes Microsoft Outage
KEY TAKEWAYS CrowdStrike shares plunged in premarket trading Friday, while those of its rivals surged, after the cybersecurity firm said an update "defect" caused Microsoft's cloud services outage. The outage impacted services globally of airlines, banks, and other businesses Friday. Wedbush analyst Dan Ives told CNBC that while CrowdStrike's long-term story stayed intact, rivals "will try to…
July 19, 20242 minRead time
Banks
Deutsche Bank: An Overview
Once dubbed the "most dangerous bank in the world" by the IMF, Deutsche Bank's journey from its controversial past to its ambitious future offers a riveting narrative of resilience and reinvention. Deutsche Bank is one of the leading financial services providers in the world, with a rich history and a significant presence in the global…
July 18, 202410 minRead time
Finance News
Eurozone private sector expands in June
Euro area private sector activity grew in June, surpassing earlier estimates and showing robust recovery. Activity in Spain showed the strongest growth, while contractionary conditions held in France amid election uncertainties. Private sector activity in the euro area expanded in June, surpassing previous estimates, indicating that the recovery phase is well on track, though with…
July 15, 20245 minRead time