Richard Newstead | Moment | Getty ImagesLONDON — Britain’s biggest high street lenders are continuing to slash borrowing costs after the Bank of England’s first interest rate cut in four years sparked a boom in homebuyer activity.Barclays, Halifax, HSBC and NatWest are among the lenders now offering five-year fixed-rate mortgages of under 4%, below the BOE’s 5% key rate.The best five-year fixed rate is currently 3.83% for buyers with a 40% deposit, according to a new report from property portal Rightmove. This marks the lowest level for such a product since before the U.K.’s disastrous mini-budget in September 2022.It follows a prior…
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Hedge funds and mutual funds — two of the biggest investor groups — piled into a handful of the same stocks last quarter in anticipation of changing market leadership and higher volatility, according to Goldman Sachs. The Wall Street bank analyzed the holdings of 693 hedge funds with $2.8 trillion of gross equity positions as well as the holdings of 554 mutual funds with $3.7 trillion of equity assets at the start of the third quarter, based on regulatory filings. It then compiled the “Hedge Fund VIP basket,” consisting of 50 stocks that most frequently appear among the largest 10 holdings…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email”Fast Money” is America’s post-market show. Hosted by Melissa Lee and a roundtable of top traders, “Fast Money” breaks through the noise of the day, to bring you the actionable news that matters most to investors.44:01Thu, Aug 15 20247:21 PM EDT Source link
Nick Martin, co-founder and CEO of Joe Coffee, is so concerned about the state of the economy that he’s looking for ways his company can save money. One main area for cuts: software.Martin started the Seattle-based company with his brother, Brenden, to help local coffee shops better compete with Starbucks, by making it easier for them to fulfill mobile orders, track analytics and automate their marketing.While their 8-year-old business has held pretty steady through the economic dip that started in 2022, Martin said he’s seeing evidence that people are now buying fewer lattes than they did a year ago. Any…
China’s slow post-Covid recovery could be a lasting headwind for its stock market.With the mainland’s two largest indexes — the Shanghai Composite and the Shenzhen Composite — each negative so far in 2024, KraneShares Chief Investment Officer Brendan Ahern thinks government stimulus is necessary to kick-start the country’s stock market performance.”Investors, particularly in mainland China … [are] looking for much, much stronger fiscal support from the government,” he told CNBC’s “ETF Edge” this week. “Thus far, we’ve been left waiting.”Ahern, whose firm runs the KraneShares CSI China Internet ETF (KWEB), added that Chinese households are still reluctant to spend at…
U.S. President Joe Biden and Chinese President Xi Jinping before a meeting during the Asia-Pacific Economic Cooperation leaders’ week in Woodside, California, Nov. 15, 2023.Brendan Smialowski | Afp | Getty ImagesChina on Sunday said it “resolutely opposes” the U.S. decision to add multiple Chinese entities to its export control list in a bid to further curb Russia’s access to advanced U.S. technology required for its weapons.In a statement published on state media Xinhua, a spokesperson from China’s Ministry of Commerce called the move “a typical act of unilateral sanctions and long-arm jurisdiction.”The spokesperson also said the act “undermines the international…
Mike Lynch, 59, is the founder of enterprise software firm Autonomy. He was acquitted of fraud charges in June after defending himself in a trial over allegations that he artificially inflated Autonomy’s value in an $11.7 billion sale to tech giant Hewlett Packard.Chris Ratcliffe | Bloomberg | Getty ImagesLONDON — British technology entrepreneur Mike Lynch was acquitted of fraud charges in June in a landmark trial over allegations made by Hewlett Packard that he had artificially inflated the value of his company when he sold it to the U.S. enterprise tech giant for $11.7 billion in 2011.Just two months after…
Botswana’s Letsile Tebogo, US’ Kenneth Bednarek and US’ Noah Lyles cross the finish line to finish first, second and third respectively in the men’s 200m final of the athletics event at the Paris 2024 Olympic Games at Stade de France in Saint-Denis, north of Paris, on August 8, 2024.Odd Andersen | AFP | Getty ImagesPARIS — Two days after Noah Lyles said he tested positive for Covid, the American sprinter finished third in the 200-meter final at the Paris Olympics, unable to chase down gold medalist Letsile Tebogo of Botswana. Lyles ran 19.70 for bronze, behind Tebogo’s 19.46, which earned the…
The company logo adorns the side of the BHP gobal headquarters in Melbourne on February 21, 2023. – The Australian multinational, a leading producer of metallurgical coal, iron ore, nickel, copper and potash, said net profit slumped 32 percent year-on-year to 6.46 billion US dollars in the six months to December 31. (Photo by William WEST / AFP) (Photo by WILLIAM WEST/AFP via Getty Images)William West | Afp | Getty ImagesBHP CEO Mike Henry said he expects China’s property sector to rebound in the upcoming year on the back of favorable government policies.While acknowledging that the country’s property sector is…
The Snowflake Inc. logo, an American computing-based data cloud company that has a strong partnership with Salesforce, displayed on their stand during the Mobile World Congress 2023 on March 2, 2023, in Barcelona, Spain.Joan Cros | Nurphoto | Getty ImagesData cloud analytics firm Snowflake on Wednesday raised its forecast for full-year product revenue, as it attracts more clients to its cloud platform owing to advancements in artificial intelligence.However, shares of the firm fell more than 7% in extended trading. D.A. Davidson analyst Gil Luria attributed the drop to the company not pairing the rise in revenue projections with a rise in margin…
