• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 18th, it was reported that Alphabet, Googles parent company, is offering Australian dollar bonds with four maturities, one of which is as long as 20 years. Sources previously revealed that Google plans to raise approximately A$5 billion (about US$3.6 billion) in this round of financing. Last month, Alphabet raised its capital expenditure forecast for this year to as high as US$205 billion, reigniting concerns about how large tech companies will recoup profits from their trillions of dollars in artificial intelligence investments. Currently, among large US companies, Alphabet ranks second only to Amazon in utilizing the global debt market to finance its AI projects. In addition to the US market, Alphabet also plans to issue bonds in currencies such as the Swiss franc, British pound, euro, Canadian dollar, and Japanese yen in 2026.On August 18th, according to US media reports on the 17th, Jared Kushner, US President Trumps son-in-law, who is currently visiting the Middle East, stated that the "demilitarization" process in the Gaza Strip could begin within 30 days. Kushner made these remarks during an interview with Fox News after meeting with Israeli Prime Minister Benjamin Netanyahu in Jerusalem. He said, "We could see progress as early as 30 days, hopefully starting to clear some weapons and filling in some tunnels within the next 60 to 90 days." He also threatened that if Hamas fails to fulfill its promises, "Israel will receive stronger support from the United States and other parties." Kushner further stated that the US will not allow reconstruction in the Gaza Strip before demilitarization is achieved. Furthermore, the US "will not restrict Israels right to self-defense" should an imminent threat be faced.On August 18th, Wang Qing, chief macro analyst at Golden Credit Rating, stated that the recent zero volume of 7-day reverse repurchase operations, coupled with the overnight reverse repurchase operation conducted in mid-August, indicates that the Peoples Bank of China (PBOC) is now more precise in its control of market interest rates. This suggests that market interest rates will operate more smoothly in the future. Furthermore, it implies that overnight reverse repos may gradually replace 7-day reverse repos, becoming the PBOCs core policy tool for short-term liquidity adjustment.August 18th - BHP Billitons annual profit rose by nearly a third, driven by higher commodity prices, and for the first time, its copper revenue surpassed its iron ore revenue. BHP Billiton announced on Tuesday that its underlying profit for the fiscal year ending in June reached $13.2 billion, a 30% increase year-on-year, exceeding analysts expectations. The company also announced a final dividend of 99 cents, equivalent to a 72% payout ratio. Copper prices surged to record highs during the past fiscal year, and iron ore, another core product of BHP Billiton, continued its strong performance. BHP Billiton expects global copper demand to increase from approximately 34 million tons currently to 50 million tons per year by 2050. However, with declining grades and aging mines, BHP Billitons copper production at its Chilean mines is currently declining, prompting the company to invest billions just to maintain production.[Compiled by: Daily Tech News Roundup (August 18)] Artificial Intelligence: 1. Anthropics annualized revenue surpassed $65 billion before its IPO. 2. ByteDance signed an agreement with the Motion Picture Association of America to strengthen copyright protection for its AI models. 3. Nvidia partnered with SB Energy to develop an 8-gigawatt hyperscale AI data center in Ohio, USA, and invested $1.5 billion in SB Energy. 4. Nvidia: OpenAI pledged to deploy Nvidias AI infrastructure on a large scale by 2030, corresponding to a computing business scale of approximately $600 billion. Other: 1. Metas exorbitant lawsuit will begin its trial on Tuesday. 2. Jiuguang released a humanoid robot capable of lifting a 50-kilogram barbell. 3. CITIC Capitals acquisition of Alibabas Lingxi Interactive Entertainment has officially taken effect. 4. Xiaomi Auto: Xiaomi SU7 series deliveries surpassed 500,000 units in 28.5 months. 5. Unitree Robotics achieved a 2-meter high jump and a top speed of 12.66 m/s, surpassing the world records for both standing high jump and running speed.

The EUR/GBP is fluctuating close to 0.8750 as focus shifts to UK inflation and BoE policy

Alina Haynes

Mar 20, 2023 13:22

 EUR:GBP.png

 

The EUR/GBP pair is exhibiting a lackluster performance around 0.8750 during the Asian session. As investors prepare for the release of the Bank of England's (BOE) interest rate decision and the United Kingdom's Consumer Price Index (CPI) this week, the cross has moved sideways.

 

Despite the fact that the headline asserts that UBS has revitalized Credit Suisse, the cross appears to be weak. Credit Suisse shareholders will receive one share of UBS for every 22.48 Credit Suisse shares they own, valuing the bank at $3.15 billion (£2.6 billion), according to BBC News. The Swiss National Bank (SNB) stated that the agreement was the most effective means of restoring market confidence and mitigating economic risks. Additionally, the BoE endorsed the "comprehensive set of actions."

 

The consensus opinion on the street is that Governor Andrew Bailey of the Bank of England (BoE) will provide a pessimistic outlook for the interest rate decision amidst concerns of banking turmoil, which will be his top priority.

 

Rabobank analysts also anticipate a 25 basis point (bps) rate hike and caution that the market has not fully factored in this scenario. Andrew Bailey, governor of the Bank of England, would raise rates by 25 basis points to 4.25 percent.

 

Prior to that, the UK inflation data released on Wednesday will be attentively monitored. The annual headline CPI is expected to decline from 10.1% to 9.8%, according to projections. At 5.8%, the core CPI, which excludes the cost of fuels and food, would not change. It should be aware that persistent inflation in the United Kingdom is due to rising food prices and a labor shortage.

 

After the European Central Bank (ECB) raised interest rates by 50 basis points (bps) last week, Gediminas imkus, a member of the ECB Governing Council, stated on Friday that "the terminal rate has not yet been reached" For further deflation, extremely persistent inflation in the Eurozone requires higher interest rates.