Connect with us

Hi, what are you looking for?

The Freedom RightThe Freedom Right

Economy

Weekly news summary for November 24 to November 30

Weekly news summary for November 24 to November 30

Friday, Nov. 24: Japan’s Core CPI Rises 2.9% in October

Japan’s core consumer prices picked up for the first time in four months in October, raising expectations for the Bank of Japan (BOJ) to begin normalizing its ultra-loose monetary stimulus soon.

Data from the Statistics Bureau showed on Friday that the country’s core consumer price index (CPI), which excludes volatile fresh food costs, rose 2.9% year-over-year in October from September’s reading of a 2.8% surge, although ending below forecasts of 3.0%.

 

Monday, Nov. 27: Cyber Monday Online Sales to Hit 12 Billion USD

US consumers seeking significant discounts on products are expected to increase Cyber Monday online sales between 12 billion USD and 12.4 billion USD in the day, marking the largest-ever online shopping to occur in the country.

The range’s midpoint showed a near 8% rise, higher than Adobe Analytics’ early estimates of a 6.1% climb to 12 billion USD, weakening the prospect of a muted holiday shopping season this year.

 

Tuesday, Nov. 28: Zhao Relinquishes Chairman Role at Binance.US

Binance.US announced on Tuesday that founder Changpeng ‘CZ’ Zhao will be vacating his position as chairman of its board, a week after pleading guilty to violating anti-money laundering policies and stepping down as the global exchange’s chief executive.

Zhao would keep an economic interest in Binance Holdings Ltd.’s US affiliate, although he will be handing over his voting rights to a proxy and no longer participate in Binance.US’s governance.

 

Wednesday, Nov. 29: RBNZ Holds OCR Steady, Signals Further Hikes

The Reserve Bank of New Zealand (RBNZ) held its official cash rate (OCR) steady at 5.50% for the fourth straight month at its November meeting, although it warned of another possible rate hike should inflationary pressures intensify.

The central bank expressed confidence over the current level of interest rates, describing it as restrictive but adding that ongoing excess demand and price pressures remained a concern considering the high level of the country’s core inflation.

 

Thursday, Nov. 30: Microsoft Joins OpenAI Board as Sam Altman Returns

Microsoft Corp. is set to take a seat on OpenAI Inc.’s new board as a non-voting observer, chief executive Sam Altman announced in his first official statement after returning to the artificial intelligence (AI) startup.

The position would allow the US tech giant to appoint a representative who would attend OpenAI’s board meetings and look at confidential information, although it does not provide Microsoft with the right to vote on matters such as nominating or selecting directors for the board.

 

The post Weekly news summary for November 24 to November 30 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Stock

    A second delivery driver has died in Texas amid record-high temperatures, just as the regulation of workplace heat safety enters a new legal limbo...

    Editor's Pick

    By the IoT Analytics team. A new report from IoT Analytics highlights eight notable trends helping to advance and promote digital twins. Four of...

    Investing

    Vermont Sen. Bernie Sanders, 81, defended President Biden, 80, against voter critiques that he lacks the energy and vigor to continue leading the United...

    Investing

    Political advisers to both President Biden and Vice President Harris were reportedly annoyed with Democrat California Gov. Gavin Newsom over a planned debate with...

    Disclaimer: thefreedomright.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2020-2024 The Freedom Right. All Rights Reserved