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Gold prices surged to record highs on Wednesday as the U.S. entered its first government shutdown in nearly seven years, reflecting heightened investor caution amid political and economic uncertainty. Spot gold climbed to $3,893.06 an ounce, while December gold futures touched $3,918.10, marking the 39th record high for the year. Shutdown Sparks Safe-Haven Rally While…
The London Stock Exchange Group (LSEG) has launched a blockchain-based platform for private funds, becoming the first major global stock exchange to deploy such infrastructure. Called Digital Markets Infrastructure (DMI), the system promises to reshape how private assets are issued, traded, and settled. First Asset Class Goes Live on DMI Private funds are the first…
European markets opened higher on Wednesday as investors digested a mix of corporate earnings, trade developments, and inflation data. The pan-European Stoxx 600 climbed 0.5% by mid-morning in London, with all major regional indices trading in positive territory. Strong Corporate Earnings Boost Investor Sentiment Shares of Danish pharmaceutical giant Novo Nordisk surged 3.5% following the…
A federal appeals court on Monday rejected former President Donald Trump’s bid to overturn a jury verdict requiring him to pay $83.3 million to writer E. Jean Carroll for defamation. The U.S. Court of Appeals for the Second Circuit ruled that Trump “failed to identify any grounds” to challenge its prior holding on presidential immunity….
Saudi Arabia’s Public Investment Fund (PIF) reported a significant $8 billion write-down in its so-called “gigaprojects” at the close of 2024, even as its total assets under management (AUM) soared to nearly $1 trillion. The move highlights the kingdom’s balancing act between ambitious economic diversification and the realities of a volatile oil market. Declining Gigaproject…
Norway’s sovereign wealth fund, the world’s largest state-directed fund, has significantly increased its indirect exposure to Bitcoin (BTC), according to crypto research firm K33 Research. Over the past year, the fund’s holdings surged by 192%, now encompassing 7,161 BTC through investments in companies like Strategy, Metaplanet, and crypto exchange Coinbase. The fund currently holds over…
Asia-Pacific stocks ended the session on a broadly positive note Wednesday, following gains on Wall Street. Investors responded to U.S. inflation data that has raised expectations the Federal Reserve could lower interest rates next month, boosting sentiment across the region. Japan’s Nikkei 225 led the rally, closing at a record high of 43,274.67, up 1.3%,…
OpenAI’s GPT-5 launch last week aimed to simplify ChatGPT with a unified AI model and a “model router” to automatically select the best responses. CEO Sam Altman envisioned eliminating the complicated model picker, offering a seamless AI experience for users. But early reactions suggest GPT-5 isn’t living up to expectations. Updates to ChatGPT: You can…
The Trump administration has finally issued updated guidance to unlock $5 billion in electric vehicle (EV) charging infrastructure funding, ending months of delay and controversy. This move aims to expedite the National Electric Vehicle Infrastructure (NEVI) program, part of the Bipartisan Infrastructure Law, by easing previous requirements that stalled construction nationwide. Background: Funding Freeze and…
In an interconnected global economy where trillions of dollars flow across borders daily, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) serves as the invisible infrastructure enabling secure international financial communications. SWIFT processes over 42 million messages daily, facilitating transactions among more than 11,000 financial institutions worldwide, making it one of the most critical systems…