Tag Archives: Market News

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Chinese e-commerce giant Alibaba is making swift moves to list its shares on the Hong Kong Stock Exchange. However, amidst high demand, Alibaba has planned to close its books early for institutional investors, reports CNBC.As per the report, the e-commerce giant plans to close its books by 12 PM ET on Tuesday, November 19. The sources familiar with the matter said that the book’s closure will happen half-day before the earlier schedule. This is clearly indicative of the fact that investors...

It seems China finally decided to cut some ties to the world’s largest reserve currency – United States dollar, at least if it’s to believe the analysts’ prognoses.The biggest and most obvious reason is the ongoing trade war between the two countries said ANZ Research in their recent report. US delisting Chinese companies’ stocks from its market – surely hasn’t helped as well. That is why, ANZ predicts, Beijing decided to diversify its foreign exchange reserves into other currencies as...

As 2019 comes to an end, car lovers will be in for a bit of a treat. Ford (NYSE 8.95) was due to premiere a new fully-electric crossover SUV on November 17, 2019, just as we have already reported. But details and pictures of the new vehicles have leaked a few days early and this gives customers a chance to get a glimpse of Ford’s latest offering. This new model is called Mach-E and the leak comes from screenshots from the Ford website and also has the details on the pricing, configuration,...

Traditional markets and indexes are currently hitting new records. In one such first-ever milestone, the Dow Jones Industrial Average rallied to a record 28,000 plus levels on Friday. The rally comes amidst waning tensions in the U.S.-China trade war with the hope of reaching a trade deal between the two economic powerhouses.On Friday, November 15, Dow Jones’s 30-stock average climbed 222.93 points at 28,004. In just the last four months, the Dow Jones price index has surged by 1000 points....

Microsoft co-founder Bill Gates has taken over Amazon founder Jeff Bezos as the world’s wealthiest person. The Bloomberg billionaires index, which tracks the net worth of the world’s wealthiest, has indicated that Gates has overtaken Bezos based on an over 40% increase in his 1% stake in technology giant Microsoft and his investments in his family office Cascade. For the first time in two years, Gates has taken over the top spot after reports emerged that the United States Department of...

Late last month, the United States Department of Defense announced that the much-discussed Joint Enterprise Defense Infrastructure (JEDI) cloud contract, had been finally awarded to Microsoft. After the announcement, many including Amazon itself seemed sincerely surprised that the contract didn’t go to Amazon. Now, Amazon has decided to officially challenge the contract award.According to a Federal Times report, Amazon Web Services (AWS) officially filed with the U.S. Court of Federal Claims...

Leading financial services company Alipay has indicated that it will enable 10 million European small and medium enterprises to be able to reach more than 2 billion customers which come from all corners of the world to Europe. Alipay intends to do this within the next five years. The payment service indicated this yesterday at the Alipay Partners Global Summit which held in London. It also expanded its partnership with Worldline which is its principal acquirer in the region and also...

Microsoft has hinted that its upcoming game streaming service xCloud, will be officially launched next year. The company has also announced a few new games that will be launched along with xCloud and will also be available on the current Game Pass feature available.At the company’s XO19 Xbox event currently ongoing in London, Microsoft made the revelation about xCloud, adding further details including that all xCloud subscribers will have access to the over 100 games available currently on...

This week, gold has been enjoying a continuous rally, reaching its record highs. On Thursday, it achieved $1,475.50 per troy ounce. Today, the gold price has dropped sharply, with markets suffering losses globally.The volatility of the precious metal’s price results from several factors.Firstly, in October, Serbian President Aleksandar Vucic recommended Serbia’s central bank to increase its gold reserves in order to protect against economic issues and financial uncertainty. Following the...