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Monthly Archives: May 2023

TSMC, ASML, two critical chip firms rally after Nvidia’s earnings

Dutch firm ASML and Taiwan’s TSMC, two of the world’s most important semiconductor firms, got a share price boost on Thursday after Nvidia’s earnings impressed investors. Nvidia reported earnings and revenue that beat market expectations on Wednesday. But its sales forecast of about $11 billion for the second quarter — …

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Chinese augmented reality glasses maker Nreal rebrands as Xreal

Nreal, a Chinese augmented reality glasses company, rebranded as Xreal. Co-Founder Peng Jin told CNBC this reflects the company’s expanded product range and international expansion. Xreal Chinese augmented reality (AR) glasses maker Nreal on Thursday said it rebranded to Xreal — a name it hopes will encapsulate its expansion into …

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Boss of Goldman-backed digital bank Starling to step down next month

Starling Bank CEO Anne Boden. Starling Bank The co-founder of Starling, one of the U.K.’s largest digital banks, is set to step down as CEO next month, the company said Thursday. Starling, which is backed by U.S. investment banking giant Goldman Sachs, is one of the most prominent fintechs in …

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Canada, Saudi Arabia rekindle diplomatic relations after 2018 human rights rift

Saudi Crown Prince Mohammed bin Salman speaks during the Gulf Summit in Riyadh, Saudi Arabia, December 14, 2021. Bandar Saudi Press Agency | Handout | Via Reuters Canada and Saudi Arabia agreed to resume diplomatic relations, ending a five-year dispute jumpstarted by human rights concerns. The decision, announced by both …

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UK borrowing rates close in on last year’s ‘mini-budget’ crisis levels

British Prime Minister Liz Truss attends a news conference in London, Britain, October 14, 2022. Daniel Leal | Reuters LONDON — U.K. borrowing costs are nearing levels not seen since the throes of the bond market crisis triggered by former Prime Minister Liz Truss’ disastrous mini-budget. New data on Wednesday …

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Call to ‘Buy Japan’ is premature, say Bank of America analysts

Japan’s Osaka is now the 43rd most expensive city to live in Visualspace | E+ | Getty Images As Japanese stocks rose to the highest levels in three decades, strategists at Bank of America forecast the nation’s currency to weaken further from current levels. While the Bank of Japan’s ultra-dovish …

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Turkey’s runoff election is paralyzing key oil exports from northern Iraq

A satellite image showing the port of Ceyhan centred on August 18, 2015 in Turkey. Gallo Images | Gallo Images | Getty Images Turkey’s runoff election is compounding delays to restart roughly 450,000 barrels per day of Iraqi crude oil exports, as Ankara studies its relationship with Baghdad, analysts and …

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Why an HSA is at least 17% better than a 401(k)

You’ll soon be able to contribute much more money to your health savings account. Last week, the IRS announced the largest-ever increase in maximum contributions to the popular savings vehicles. In 2024, the maximum HSA contribution will be $4,150 for an individual and $8,300 for a family, up from $3,850 …

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China’s Lenovo shrugs off concerns that global PC market is shrinking

Revenues for the world’s largest PC-maker Lenovo fell for a third consecutive quarter as global demand for personal computers continue to slump, but the company is not worried, says CFO Wong Wai-Ming. “We are number one in PC. Clearly, when the market actually returns back to more normal, we will …

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‘The story is all about gold.’ ETF experts on commodity strategies

While deflationary pressures have stripped a throng of precious metals and mining stocks of their luster this year, flows into certain commodity-based exchange-traded funds continue to accrue despite an uncertain global backdrop. “We actually saw a pop in the last couple of weeks toward commodity ETFs,” Todd Rosenbluth, head of …

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