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Why the ship that blocked the Suez Canal is still stuck

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A court in Egypt is preventing the container ship that blocked the Suez Canal from leaving the country.

Authorities are seeking over $900 million in compensation for damages caused by the ship that became stuck in the Suez Canal in March.

Although the court is moving to resolve the matter as quickly as possible, for now, the vessel isn’t going anywhere.

The Suez Canal Authority (SCA) lodged the $1.2 billion dispute against the Japanese owner for compensation.

The Japanese ship at the centre of the drama

The Japanese company that owns the ship, Ever Given, that is at the centre of the investigation.

The 400-metre ship was on its way to the Dutch port of Rotterdam when it slammed into the bank of the Suez Canal.

The ship had over 18,300 containers on board at the time of the collision.

It became lodged in the southern end of the busy shipping passage and remains in a lake between two stretches of the canal.

The Ever Given ship is stuck in the Suez Canal

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Anticipation builds for US jobs data and it’s global impact

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What to expect on. a global scale as investors brace for key U.S. employment figures.

Investors and economists are eagerly awaiting the release of the latest US jobs data, anticipating its potential impact on global market trends.

The numbers are expected to provide crucial insights into the health of the world’s largest economy and may influence investment decisions and market sentiments worldwide.

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ASX 200 – what are the key market impacts from reporting season?

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What have investors learned as ASX 200 wraps up reporting season?

As the ASX 200 reporting season draws to a close, market participants are analyzing the outcomes and drawing key insights.

From notable earnings reports to unforeseen challenges, the conclusion of this reporting season unveils critical information that will shape investment.

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AI pushes the Nasdaq to a record-breaking close

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The Nasdaq achieved a record-breaking close, surpassing its previous record high of 16,057.44, which was established on November 21, 2021.

Artificial assistance

Artificial intelligence-related technology stocks, such as Nvidia (NVDA.O) and Microsoft (MSFT.O), have greatly boosted the index.

The Nasdaq Composite has increased by almost 7.2% this year.

The tech-focused index surged 43% in 2023, and as chipmakers gained traction and confidence increased that the Fed might achieve a soft landing—that is, curb inflation without inciting a recession—stocks surged strongly by year-end.

In contrast, Nvidia increased by 1.9% on Thursday, bringing its total gain from a year ago to around 250%.

Market boom

Every S&P 500 subs sector saw a gain at the end of the month.

Analysts at Deutsche Bank report that the index has now increased for 16 of the past 18 weeks, matching the record most winning weeks last attained in 1971.

Bitcoin also moved closer to its all-time high.

The price of the virtual currency momentarily surpassed $64,000 as spot bitcoin ETFs helped drive it to heights last seen in 2021.

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