Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

Ernst & Young initiates layoffs, cuts dozens of US partners

Published

on

Ernst & Young has decided to part ways with dozens of partners within its US division

The decision, communicated internally to the affected partners, is part of EY’s broader restructuring efforts.

The move is driven by a combination of factors, including market trends, evolving client needs, and the ongoing impact of the global economic landscape.

While the specific details of the layoffs remain confidential, the firm assures that it is committed to supporting the affected individuals during this transition.

Industry analysts speculate that EY’s decision reflects a broader trend within the professional services sector, as firms reevaluate their structures to stay agile and resilient in an ever-changing business environment.

As the job market absorbs the impact of these strategic adjustments, EY emphasizes its dedication to maintaining a strong and adaptable workforce.

Continue Reading

Money

Wall Street rallies as oil prices dip and bitcoin hits new high

Published

on

Wall Street started the week on a high note, extending last week’s rally as oil prices fell and bitcoin surged to a new record.

The Dow Jones jumped 1%, reaching over 44,000, with Tesla and big banks leading gains.

Crypto stocks soared as bitcoin hit an all-time high above $82,300, driven by optimism about lighter regulation.

Investors are also focused on upcoming inflation data, which could provide more clues about interest rates.

The dollar remained near a recent peak as Federal Reserve speakers, including Chair Jerome Powell, are set to weigh in later this week.

European markets followed suit, with the pan-European STOXX 600 rising over 1% on Monday.

Continue Reading

Money

Bitcoin surges to record highs post-election

Published

on

Bitcoin soared to nearly $80,000, reaching unprecedented levels following Donald Trump’s decisive presidential victory earlier this week.

This marks a significant 65.4% increase from its January low of $38,505, underscoring the cryptocurrency’s remarkable growth this year.

The surge is largely attributed to President-elect Trump’s commitment to establishing the United States as “the crypto capital of the planet,” signaling a potential shift toward more favorable regulations for digital currencies.

Investors are optimistic that the incoming administration’s pro-crypto stance will further bolster the market, potentially leading to sustained growth in the sector.

Analysts suggest that this momentum could pave the way for Bitcoin to reach even higher valuations in the near future.

Continue Reading

Money

Iron ore and oil prices drop as Beijing holds back

Published

on

China’s National People’s Congress announced a $1.3 trillion plan, but it’s focused on debt, not demand.

Mining giants BHP and Rio Tinto saw share prices fall as hopes for a strong stimulus faded.

Analysts say this “recycling debt plan” won’t deliver a boost for Australia’s resource exports.

Iron ore futures dropped 3%, and oil prices fell 2% after China’s announcement.

Some Australian economists see this as a missed opportunity for mining and the broader economy.

Beijing may wait for clarity on Trump’s trade policies before introducing more aggressive stimulus.

Continue Reading

Trending Now