Fitch warns it may be forced to downgrade dozens of banks, including JPMorgan Chase
Fitch Ratings warned that U.S. banks have inched closer to sweeping rating downgrades on dozens of lenders, including JPMorgan Chase and Bank of America.
Financial News
Japan GDP grew 6%, handily beating expectations on robust exports
Economist surveyed by Reuters had expected the world’s third-largest economy to post 3.1% growth in the April-June quarter.
India is a rising force in Southeast Asia as region seeks to counter China’s dominance
New Delhi’s growing rivalry with China, is also seen as influencing its strategic calculation to strengthen its presence.
Nvidia’s AI-driven stock surge pushed earnings multiple three times higher than Tesla’s
Nvidia’s graphics chips have proven to be the best for training artificial intelligence models, and clients can’t get enough of them.
Gold prices to breach all-time highs? Some expect bullion to hit $2,500
Gold prices may set new all-time highs in 2024 on the back of a peak in interest rates, looming recessionary fears and higher consumer demand, analysts say.
China’s real estate market roiled by default fears again
Two years after Evergrande’s debt troubles, worries about China’s real estate sector are coming to the forefront again.
Moody’s cuts ratings of 10 U.S. banks and puts some big names on downgrade watch
Moody’s on Monday cut the credit ratings of a host of small and mid-sized U.S. banks and placed several Wall Street big names on negative review.
Tesla CFO Zach Kirkhorn steps down
Zach Kirkhorn, Tesla’s chief financial officer, stepped down from his role but will remain with the company through the end of the year.
SharkNinja’s NYSE debut underscores challenges for U.S. businesses that rely on China
While SharkNinja’s stock popped out of the gate on Monday, the stock sold off the rest of the week, falling below its debut price.
Berkshire Hathaway’s operating earnings rise nearly 7%, cash pile approaches $150 billion
Berkshire Hathaway reported a solid increase in operating earnings, while the cash hoard at Warren Buffett’s conglomerate swelled to nearly $150 billion.