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On January 30th, Inspur Software announced that it expects to achieve a net profit attributable to owners of the parent company of approximately RMB -270 million in 2025. In 2025, affected by tight funds for clients, delayed project bidding, and delayed delivery and acceptance, the companys operating revenue declined, and gross profit decreased. During the reporting period, the company improved management efficiency through refined management and strengthened accounts receivable and collection management, resulting in a significant improvement in the net cash flow generated from operating activities compared to the same period last year. However, due to the decline in operating revenue and gross profit, the company expects to incur a loss.On January 30th, Bainaqiancheng announced that it expects a net loss of 800 million to 1.2 billion yuan in 2025. Affected by intensified competition in the content market, the companys multi-format film and television content segment faced significant pressure during the reporting period. The subject matter and content expression of some existing projects were no longer suitable for the current audiences aesthetic and demand trends in the content market. The company systematically reviewed and optimized its existing projects. For projects under development and existing projects with poor returns and significant uncertainties, measures such as closing down to stop losses, reducing scale, suspending new investment, and seeking external cooperation were taken. Simultaneously, the company retained its strong teams and concentrated resources on high-quality projects and well-performing business segments.On January 30th, the Shanghai Municipal Development and Reform Commission and the Shanghai Municipal Finance Bureau issued a notice regarding the implementation of the 2026 large-scale equipment renewal and consumer goods trade-in policy in Shanghai. The notice includes support for vehicle replacement and replacement. Individual consumers who transfer their passenger vehicles registered in their own name and purchase new energy passenger vehicles included in the "Catalogue of New Energy Vehicle Models Eligible for Vehicle Purchase Tax Reduction or Exemption" or fuel-powered passenger vehicles with an engine displacement of 2.0 liters or less will receive a vehicle replacement subsidy. The subsidy is 8% of the vehicle price for new energy passenger vehicles (maximum 15,000 yuan) and 6% of the vehicle price for fuel-powered passenger vehicles with an engine displacement of 2.0 liters or less (maximum 13,000 yuan).The Bank of Englands consumer credit figures for December were £1.524 billion, below the expected £1.7 billion and the previous figure revised from £2.077 billion to £2.143 billion.The Bank of Englands mortgage lending in December was £4.601 billion, below the expected £4.5 billion and the previous figure revised from £4.49 billion to £4.593 billion.

Before Fed Hints And A Flood of U.S. Data, Gold's Early-year Rally Fizzles

Haiden Holmes

Jan 18, 2023 11:21

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The yellow metal held below a level not seen in eight months on Wednesday as markets remained cautious ahead of a flurry of Federal Reserve speakers and U.S. economic data due this week.


Despite the fact that projections of a less aggressive Federal Reserve and the possibility of a recession have spurred strong gains in gold over the past two weeks, traders are still looking for further confirmation of this trend. This week, several Fed officials are expected to appear, with Vice Chair Lael Brainard on Thursday being the most notable.


Numerous U.S. economic metrics will also shed insight on the performance of the world's largest economy in December, beginning with producer price index inflation, retail sales, and industrial output data expected Wednesday evening.


Spot gold remained constant at $1,908.74 per ounce at 19:19 EDT, while gold futures rose 0.1% to $1,911.30 per ounce (00:19 GMT). Tuesday saw declines of 0.5% for both assets.


Last week, gold climbed sharply to a more than eight-month high on the strength of a falling dollar and growing concerns of a recession this year. The yellow metal is presently trading almost $160 behind its all-time high due to an increase in wages that the Federal Reserve would hike interest rates at a slower pace this year.


This week, the dollar rebounded from a seven-month low against a basket of currencies, regaining some momentum. As traders awaited a Bank of Japan policy meeting slated for later in the day, dollar gains were limited.


Given that the BOJ's ultra-loose monetary policy tightening portends greater global economic headwinds, any signals of hawkishness from the central bank might shock the dollar and provide extra support for gold.


Other precious metals maintained tight ranges on Wednesday.


In response to signs of economic strength in China, the world's largest copper importer, copper prices dropped significantly on Wednesday.


Futures for high-grade copper fell 0.2% to $4.2272 a pound after gaining over 2% in the prior session.


According to figures released Tuesday, China's economic growth slowed sharply in 2022 compared to the previous year. However, better-than-expected growth in the fourth quarter, particularly in December, has fuelled optimism that the nation will enjoy a resurgence this year following the lifting of the majority of anti-COVID measures.

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