Hong Kong’s monetary authority kept its base rate unchanged after a similar move by the US Federal Reserve, as analysts said that the Middle East conflict has added to the uncertainty over the pace of rate cuts this year. The Hong Kong Monetary Authority (HKMA) maintained the city’s base rate at 4 per cent on Thursday. Hours earlier, the Fed also kept its target rate in the range of 3.5 per cent t...
Hong Kong’s monetary authority kept its base rate unchanged after a similar move by the US Federal Reserve, as analysts said that the Middle East conflict has added to the uncertainty over the pace of rate cuts this year. The Hong Kong Monetary Authority (HKMA) maintained the city’s base rate at 4 per cent on Thursday. Hours earlier, the Fed also kept its target rate in the range of 3.5 per cent to 3.75 per cent, after the second meeting of the Federal Open Market Committee (FOMC) this year. “Near term measures of inflation expectations have risen in recent weeks, likely reflecting the substantial rise in oil prices caused by the supply disruptions in the Middle East,” Fed chairman Jerome Powell said in a media briefing after the FOMC meeting. Advertisement “Higher energy prices will push up overall inflation,” he added, “but it is too soon to know the scope and duration of the potential effects on the economy.” The United States’ Dow Jones Industrial Average dropped 1.6 per cent after the rate decision. Advertisement The Fed’s decision was widely expected, with 98.9 per cent of traders forecasting no change and the rest expecting a 25 basis point increase, according to CME FedWatch data based on Fed funds futures contracts on Wednesday.
(RTTNews) - Ahead of Monday's holiday for the Emperor's birthday, the Japanese stock market had ended the two-day slide in which it had stumbled almost 600 points or 1.7 percent. The Nikkei 225 now rests just above the 38,775-point plateau although it figures to head south again on Tuesday. The global forecast for the Asian markets is negative on growing U.S. tariff concerns. The European and U.S....
(RTTNews) - Ahead of Monday's holiday for the Emperor's birthday, the Japanese stock market had ended the two-day slide in which it had stumbled almost 600 points or 1.7 percent. The Nikkei 225 now rests just above the 38,775-point plateau although it figures to head south again on Tuesday. The global forecast for the Asian markets is negative on growing U.S. tariff concerns. The European and U.S. markets were mostly lower and the Asian markets are also expected to open under pressure. The Nikkei finished modestly higher on Friday following gains from the automobile producers, weakness from the financial shares and a mixed picture from the technology stocks. For the day, the index added 98.90 points or 0.26 percent to finish at 38,776.94 after trading between 38,456.53 and 38,808.81. Among the actives, Nissan Motor skyrocketed 9.47 percent, while Mazda Motor jumped 1.86 percent, Toyota Motor dipped 0.17 percent, Honda Motor advanced 0.99 percent, Softbank Group shed 0.65 percent, Mitsubishi UFJ Financial skidded 1.17 percent, Mizuho Financial tanked 2.48 percent, Sumitomo Mitsui Financial sank 0.82 percent, Sony Group spiked 2.17 percent, Panasonic Holdings strengthened 1.35 percent, Hitachi slumped 2.87 percent and Mitsubishi Electric was unchanged. The lead from Wall Street is soft as the major averages opened higher on Monday but faded quickly and finished mixed. The Dow added 33.19 points or 0.08 percent to finish at 43,461.21, while the NASDAQ tumbled 237.08 points or 1.21 percent to close at 19,286.93 and the S&P 500 sank 29.88 points or 0.50 percent to end at 5,983.25. The NASDAQ and the S&P 500 ended the day firmly in the red after President Donald Trump said previously delayed tariffs on Canada and Mexico are "going forward on time." The volatility on Wall Street also came as traders looked ahead to the release of earnings news from Nvidia (NVDA). The AI darling and market leader is scheduled to release its fourth quarter results after the close of trading ...
To many unfamiliar with Chinese civilisation and history, China seems defined by uniformity rather than diversity. But the truth is that the nation is home to 56 officially recognised ethnic groups spanning vast geographic, social and economic areas. The recent passage of a new national law seeking to promote unity and progress among ethnic groups is a sensible step. With a preamble and more than ...
To many unfamiliar with Chinese civilisation and history, China seems defined by uniformity rather than diversity. But the truth is that the nation is home to 56 officially recognised ethnic groups spanning vast geographic, social and economic areas. The recent passage of a new national law seeking to promote unity and progress among ethnic groups is a sensible step. With a preamble and more than 60 articles across seven chapters, the Law on Promoting Ethnic Unity and Progress codifies President Xi Jinping’s instructions on ethnic unity. It establishes core principles, legal safeguards and cultural foundations to foster a “shared spiritual home” and promote harmony within the Chinese nation. The idea is for all ethnic groups to come under the broader umbrella of Chinese civilisation and foster a stronger sense of national identity and unity. Forging a common Chinese identity is the key. While diversity is to be respected and protected, there is a need to transcend ethnic boundaries for advancement. This is achieved by overcoming preferential treatment among ethnic groups. Regardless of origins, they all form an integral part of the Chinese nation. Advertisement With situations in the Tibet autonomous region and Xinjiang Uygur autonomous region under close Western scrutiny, some see the law as a tool for further control and suppression. But it does not mean ethnic groups can no longer preserve their own cultural characteristics and identity. Instead, they are encouraged to embrace the common language of Putonghua and other cultural elements that bind the peoples together as a nation. Essentially, every ethnic group enjoys the same rights and equality and bears the responsibility as part of the Chinese nation. Hong Kong, too, is home to a small but vibrant ethnic minority population, comprising South Asians, Southeast Asians and other non-Chinese residents who have been contributing to the city’s social and economic fabric. Thankfully, racial tension and separatism ha...
A record-breaking fourth quarter was the catalyst behind the surge in Andersen Group (ANDG +13.58%) stock on Wednesday. Investors were obviously impressed with the tax and financial advisory company's performance in that frame, as they bid its stock up by almost 14% across the Hump Day trading session. A veteran operator in a new corporate form For the quarter, Andersen grew revenue by almost 20% ...
A record-breaking fourth quarter was the catalyst behind the surge in Andersen Group (ANDG +13.58%) stock on Wednesday. Investors were obviously impressed with the tax and financial advisory company's performance in that frame, as they bid its stock up by almost 14% across the Hump Day trading session. A veteran operator in a new corporate form For the quarter, Andersen grew revenue by almost 20% year over year to slightly over $170 million. On the bottom line, equity restructuring costs arising from its transformation from a private partnership to a publicly traded company totaled more than $193 million. That drove it far into the red, with a headline net loss of over $193 million ($0.22 per share), from the year-ago deficit of under $10 million. On an operational basis, throughout 2025, Andersen said it provided services to more than 12,350 client groups in its home market in the U.S. That meant a growth rate of nearly 6% from the 2024 level. Of these, 687 contributed more than $250,000 in annual revenue, compared with 629 the year before. Andersen quoted CEO Mark Vorsatz as saying the fourth quarter "capped a record year for the firm, and underscores the strength of our global, multi-dimensional platform and the continued demand for high-value advisory services." Expand NYSE : ANDG Andersen Group Today's Change ( 13.58 %) $ 3.38 Current Price $ 28.27 Key Data Points Market Cap $315M Day's Range $ 25.12 - $ 30.19 52wk Range $ 16.00 - $ 30.19 Volume 1.4M Avg Vol 316K Gross Margin 26.73 % Double-digit growth to repeat? Vorsatz indicated that he and his team expect that momentum to continue. Sure enough, Andersen proffered guidance of $955 million to $970 million in revenue for the full year 2026, representing at least 14% growth over the previous year. The company did not provide a net income forecast. Andersen has a long, if somewhat tangled, history as a high-end advisor on tax and other financial matters. All things being equal, with a frothy economy, it should b...
If you need a cathartic release from the news that Amazon laid off 16,000 workers, Block chopped nearly half its workforce, Atlassian pared back 10% of staffers, and Meta is reportedly considering another massive round of layoffs, all in the name of AI, then we invite you to browse the responses to a recent Sam Altman post on X. Altman, the CEO of OpenAI, shared this on Tuesday: “I have so much gr...
If you need a cathartic release from the news that Amazon laid off 16,000 workers, Block chopped nearly half its workforce, Atlassian pared back 10% of staffers, and Meta is reportedly considering another massive round of layoffs, all in the name of AI, then we invite you to browse the responses to a recent Sam Altman post on X. Altman, the CEO of OpenAI, shared this on Tuesday: “I have so much gratitude to people who wrote extremely complex software character-by-character. It already feels difficult to remember how much effort it really took. Thank you for getting us to this point.” Altman shared on Tuesday. I have so much gratitude to people who wrote extremely complex software character-by-character. It already feels difficult to remember how much effort it really took. Thank you for getting us to this point. — Sam Altman (@sama) March 17, 2026 The problem with that sweet sentiment is that Altman’s company ushered in the AI now being used as an excuse for developer layoffs and fewer junior developer jobs. And it did so by training on massive volumes of code written the old-fashioned way — by the very people he’s now thanking. His post implies that developers’ genuinely difficult-to-master craft is now like a rotary telephone: outdated and unnecessary. Naturally, Altman’s comments attracted memes and responses richer than his post. While some were straight-up angry, (“You’re welcome. Nice to know that our reward is our jobs being taken away”), much of the internet did what it always does: cracked jokes. There are thousands of comments. Some of our favorites: Techcrunch event Disrupt 2026: The tech ecosystem, all in one room Your next round. Your next hire. Your next breakout opportunity. Find it at TechCrunch Disrupt 2026, where 10,000+ founders, investors, and tech leaders gather for three days of 250+ tactical sessions, powerful introductions, and market-defining innovation. Register now to save up to $400. Save up to $300 or 30% to TechCrunch Founder Summit 1,0...
Brazil’s cautious start to interest-rate cuts is expected to support local assets, underpinning the currency and easing pressure on short-term yields, money managers say. By opting for a smaller move — which was in line with toned down estimates from economists — policymakers should offer some relief for markets roiled by surging oil prices and geopolitical tensions. Policymakers led by Gabriel Ga...
Brazil’s cautious start to interest-rate cuts is expected to support local assets, underpinning the currency and easing pressure on short-term yields, money managers say. By opting for a smaller move — which was in line with toned down estimates from economists — policymakers should offer some relief for markets roiled by surging oil prices and geopolitical tensions. Policymakers led by Gabriel Galípolo delivered their first cut to the benchmark Selic rate since 2024, lowering it by a quarter point to 14.75%. The move came just hours after the Federal Reserve opted to keep rates unchanged, and cast doubt on easing ahead amid inflation concerns. Read more: Brazil Cuts Rates Modestly to 14.75% as War Blurs Outlook “The rate cut was important, even though it was smaller than initially expected,” said Daniela Da Costa-Bulthuis , a portfolio manager at Robeco Institutional Asset Management. “The statement also showed caution, but if external risks ease, there’s room for the market to recover.” Tensions around the war in Iran and the surge in oil prices have forced investors to rethink their outlook for global rates and growth. The shift is casting a cloud over emerging-market local bonds, one of Wall Street’s favored trades for 2026. The recent volatility has prompted Brazil’s Treasury step into markets with a multi-day, record buyback intervention. In currency markets, meanwhile, rising oil prices are helping carry trades — borrowing where interest rates are low and investing where they are high. Brazil’s still high rates after the modest rate cut delivered on Wednesday could help sustain gains for the real, keeping its carry appeal high, according to strategists. Read more: Commodity Currency Carry Trades See Best Returns in Years Here’s what else economists and money managers had to say about Brazil’s rate decision: Pedro Dreux , a money manager at Occam Brasil Gestao in Rio de Janeiro “The central bank made the appropriate decision given the high level of uncertainty...