Paychex stock powers up after profit and revenue rise above expectations, amid ‘remarkable resiliency’ of small businesses
Paychex Inc, a leading provider of human resource outsourcing services, surprised the market with a strong Q3 earnings report on Wednesday, sending its shares up by 4.2% in pre-market trading. The Rochester, New York-based company recorded a net income of $467.4 million for the quarter to February 28, up from $430.7 million in the corresponding […]
Law firm Cooper & Kirk accuses US regulators of weaponizing banking
Cooper & Kirk, a law firm based in Washington D.C., published a paper titled “Operation Choke Point 2.0: The Federal Bank Regulators Come For Crypto,” accusing US regulators of weaponizing the banking system against the cryptocurrency industry. The paper delves into what Cooper & Kirk describes as an arbitrary, unconstitutional, and unlawful “backroom war on […]
U.K. regulator to refer Broadcom deal for VMWare for further review
The U.K. Competition and Markets Authority (CMA) has announced that it will refer the acquisition of VMware by Broadcom for further review. This comes as no surprise to industry experts who have long anticipated that the acquisition would face scrutiny from regulators. The regulator has stated that Broadcom did not offer any undertakings to address […]
The Czech Koruna has the perfect conditions for a recovery – ING
The Czech National Bank (CNB) will hold a monetary policy meeting where economists at ING predict that EUR/CZK will move below 23.50. The CNB is expected to follow other European central banks and take a hawkish tone. They are also expected to confirm their readiness to intervene in the FX market should the CZK move […]
AI Regulation More Pressing than Crypto
Galaxy Digital’s CEO, Mike Novogratz, recently expressed his belief that the regulation of artificial intelligence (AI) is a more pressing matter than that of cryptocurrency. During Galaxy Digital’s fourth-quarter conference call in March 2023, Novogratz expressed his surprise that cryptocurrency has received more regulatory attention than AI. He argues that as AI advances, deep fakes […]
AMC’s stock jumps, but Amazon unlikely to acquire theater chain, analyst says
In recent years, the cinema industry has faced numerous challenges, including the rise of streaming services and the ongoing COVID-19 pandemic. However, reports of a potential acquisition of AMC Entertainment Holdings by Amazon have led to a surge in the stock price of the popular movie theater chain. On Tuesday, AMC’s stock price rose by […]
The data is not yet consistent with a pause – ANZ
Australia’s Consumer Price Index (CPI) fell short of market expectations, with headline inflation falling to 6.8% in February from 7.4% YoY in January. Despite inflation being less than initially anticipated, economists at ANZ Bank still believe that it will support a rate hike at the Reserve Bank of Australia’s (RBA) next meeting in April. The […]
Oil futures marks highest finish in over 2 weeks; natural-gas prices end to lowest in over 2 years
The oil futures market saw a positive uptick on Tuesday as prices hit their highest in more than two weeks. This came amid a variety of factors including a renewed focus on strength in Chinese energy demand, news of a short-term oil-supply disruption and a pullback in banking concerns. Conversely, natural-gas futures experienced their highest […]
Binance Adds New ARB & BNB Trading Pairs on Cross Margin & Isolated Margin
Binance, a prominent cryptocurrency exchange, has recently announced the addition of new ARB and BNB margin trading pairs on Cross Margin and Isolated Margin. This development has been welcomed by traders who are looking to expand their trading options on one of the leading exchange platforms in the cryptocurrency market. Margin trading is essentially a […]
We are confident about the growth condition for this year
The Deputy Director General of China’s National Development and Reform Commission (NDRC) has recently expressed confidence in China’s economic growth. In a statement released on Wednesday, the official stated that China’s potential growth rate is the same as the potential growth rate of the whole world. The comments from the NDRC come as the global […]