Category: finance
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Dollar Drops as European Stocks Surge Following Trump Tariff Delay
The US dollar (USD) fell sharply on Monday while European equity markets jumped after officials from the incoming Trump administration indicated that President-elect Donald Trump would not immediately impose tariffs upon taking office. This announcement came ahead of Trump’s inauguration at 1700 GMT, reassuring investors and easing concerns over potential trade disruptions. European Markets Respond
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South African Rand Strengthens as Global Risk Sentiment Recovers
The South African rand (ZAR) continued its recovery on Thursday, regaining lost ground after a sharp decline earlier this week. The rebound comes as global market sentiment improves, providing a boost to risk-sensitive emerging market currencies like the rand. After experiencing a notable slump on Tuesday, when the rand fell more than 1% against the
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Truworths Reports Flat Sales Amid Africa Market Struggles, UK Operations Drive Growth
South African fashion retailer Truworths (TRUJ.J) reported flat group sales for the first 18 weeks of its 2026 financial year, as weaker performance in its African operations offset gains in the United Kingdom. Africa Business Faces Sales Decline From June 30 to November 2, Truworths’ retail sales remained steady at 7.2 billion rand ($415.88 million),
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Starbucks Union Workers Vote to Authorize Strike Amid Contract Dispute Ahead of Holiday Rush
Unionized workers at Starbucks Corp have voted to authorize an open-ended strike, potentially impacting the coffee giant’s busiest holiday season, according to a statement released Wednesday by Starbucks Workers United. The union said strike actions could begin as early as November 13, Starbucks’ popular Red Cup Day, if a contract agreement is not reached. Workers
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U.S. Layoffs Hit 20-Year High in October as AI Adoption and Cost-Cutting Surge, Report Finds
U.S. employers announced more than 150,000 job cuts in October 2025, marking the highest number of layoffs for the month in over two decades, according to a new report from global outplacement firm Challenger, Gray & Christmas. The surge reflects growing economic uncertainty as companies turn to AI-powered automation and aggressive cost-cutting measures. Tech Sector
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Tesla Shareholders Vote on Record $878 Billion Pay Package for Elon Musk — Key Decisions to Watch
Tesla (NASDAQ: TSLA) shareholders are set to cast a crucial vote on Thursday that could grant CEO Elon Musk an unprecedented compensation package valued at up to $878 billion — the largest executive payday in history. The vote is part of Tesla’s annual general meeting, taking place at its Austin, Texas factory, where several high-impact
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Sterling Holds Near Multi-Month Lows as Markets Await Bank of England Rate Decision
The British pound hovered near a seven-month low on Thursday as investors braced for the Bank of England’s (BoE) closely watched interest rate decision. With markets pricing in roughly a one-in-three chance of a rate cut, sentiment remains cautious. Sterling edged up 0.1% to $1.3066 ahead of the BoE’s 1200 GMT announcement, after falling to
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ECB to Join Eurex’s Centralized Repo Market by Early 2026, Deutsche Boerse Confirms
The European Central Bank (ECB) will begin participating in Deutsche Boerse’s Eurex centrally-cleared repo market starting in the first quarter of 2026, marking a significant milestone in the evolution of European financial infrastructure. The announcement, made on Thursday by Eurex — the derivatives exchange operated by Deutsche Boerse — signals a major shift in how
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Turkey’s Finance Minister Simsek Predicts Stable Growth and Continued Disinflation in 2025
Turkish Finance Minister Mehmet Simsek announced on Thursday that Turkey is on track to maintain a moderate economic growth trajectory in 2025, comparable to the performance seen in 2024. Simsek also emphasized that the country’s disinflation trend is expected to continue, driven by tight monetary policies and supportive fiscal measures. Speaking before the Turkish parliament’s
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SP Group’s Goswami Infratech Targets January Completion for $2.84 Billion Bond Issue
Goswami Infratech, a key subsidiary of India’s Shapoorji Pallonji Group (SP Group), is on track to finalize a massive bond issuance valued at approximately 250 billion rupees ($2.84 billion) by the end of January 2026, according to sources familiar with the deal. The planned two-year zero-coupon bond will be used primarily to refinance Goswami Infratech’s
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