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Bitcoin posted gains on Wednesday after a mild recovery, as investors positioned themselves ahead of a widely expected Federal Reserve decision to cut interest rates later today. However, the advance remained limited by expectations of hawkish policy signals. The world’s largest cryptocurrency rose 1.2% to trade at $92,672.7 at 01:55 Eastern Time (06:55 GMT, after climbing above $94,000 on Tuesday. Bitcoin has remained range-bound in recent days following one of its steepest monthly declines in years during November, when risk assets broadly retreated. The Fed is expected to deliver a “hawkish cut” Market expectations point to…
Pakistan’s Power Division announced on Wednesday the completion of Rs659.6 billion Power Holding Limited (PHL) settlements, paving way for the winding up of the holding company. “Alhamdolillah ! Delighted to announce the successful completion of Rs659.6 billion PHL settlements, comprising Rs399.6 billion redemption of PES I & II [Pakistan Energy Sukuk] executed through in Negotiated Deal Market/NDM (off-market transaction) through capital markets which is Pakistan’s largest-ever debt market transaction, alongside settlement of Rs259.7 billion in various syndicated financing facilities,” Power minister Sardar Awais Ahmed Khan Leghari said in a statement. “The NDM part of this transaction is true reflection of…
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. Stocks were mixed Wednesday as investors awaited the Federal Reserve’s expected interest rate cut at the conclusion of its December meeting at 2 p.m. ET. Fed Chairman Jerome Powell’s news conference is set for 2:30 p.m. ET. Jim Cramer is paying attention to the S & P Short Range Oscillator as it hovers slightly below overbought territory. Despite this, Jim cited Club names Procter & Gamble and Texas Roadhouse as potentially “attractive” buy opportunities.…
Beijing and Washington will continue to circle each other warily in 2026 even as China’s leadership struggles to balance economic growth against its control fixation, according to a report on next year’s outlook for China released on Wednesday by the Asia Society.“As we look towards 2026, the story is not one of rises or triumph. It’s not black or white,” said Lizzi Lee, a fellow at the Society’s Centre for China Analysis and one of the report’s co-authors. “It is a story of transitions, trade-offs and tensions.”But any stability ahead is “rooted not in accommodation but in a shared recognition…
Regulatory frameworks across major economic sectors in Pakistan had been outdated and required urgent modernisation to meet the demands of rapidly evolving markets, the Competition Commission of Pakistan (CCP) chairman Dr Kabir Sidhu said while addressing an event on Wednesday. He was speaking at a lecture of a series on competition law organised by the CCP. The session on ‘Role of Aviation Industry in Economic Affairs and National Development’ was attended by senior officials, researchers of the CCP, and industry stakeholders. “Regulatory frameworks across major sectors in Pakistan remain outdated and require urgent modernisation to meet the demands of rapidly…
GE Vernova stock deservedly hit all-time highs Wednesday after the energy equipment giant delivered incredibly positive guidance all the way out to fiscal 2028. CEO Scott Strazik on CNBC amplified the incredible near-term and long-term growth story that management outlined at Tuesday evening’s investor meeting. “We have a lot of margin expansion into the next decade,” Strazik told Jim Cramer in an interview on “Squawk on the Street.” He added, “It’s a healthy mix of price, volume, and productivity. …. We’re [also] investing in robotics and AI and seeing a lot of productivity [increases]. And that’s driving the expanded margins.”…
Gold prices rose in the European market on Wednesday, extending gains for a second consecutive session, supported by a pause in the US dollar’s advance against a basket of major currencies and by a modest uptick in safe-haven buying of the metal. However, the current rise remains limited as investors stay cautious ahead of the final Federal Reserve policy decision of the year. The central bank is widely expected to announce a third consecutive 25-basis-point rate cut, along with key updates on the projected path of interest rates through 2026. Price Overview • Gold prices today: Gold…
China has promised no-strings-attached aid to Latin American and Caribbean countries as it positions itself as a key voice of the Global South and seeks to expand its influence in a region also actively courted by the United States.In an updated policy framework for deeper economic cooperation with the region, Beijing highlighted what it described as a “significant shift in the international balance of power”, with the Global South gaining greater influence.The strategy paper, the third of its kind, was published in full by state news agency Xinhua on Wednesday.“Global economic growth is lacking sufficient momentum, local conflicts and turmoil…
My top 10 things to watch Wednesday, Dec. 10 1. Stocks were little changed early this morning as Wall Street awaits the Federal Reserve’s interest rate decision at 2 p.m. ET. The Fed is expected to deliver a 25-basis-point rate cut, which would be the third such move this year. Investors will keep a close eye on how many central bankers dissent , and what they see for the U.S. economy. Fed Chairman Jerome Powell holds his post-meeting news conference at 2:30 p.m. ET. 2. SpaceX is looking to pursue an initial public offering that would raise more than $30 billion…
Bitcoin posted gains on Wednesday after a mild recovery, as investors positioned themselves ahead of a widely expected Federal Reserve decision to cut interest rates later today. However, the advance remained limited by expectations of hawkish policy signals. The world’s largest cryptocurrency rose 1.2% to trade at $92,672.7 at 01:55 Eastern Time (06:55 GMT, after climbing above $94,000 on Tuesday. Bitcoin has remained range-bound in recent days following one of its steepest monthly declines in years during November, when risk assets broadly retreated. The Fed is expected to deliver a “hawkish cut” Market expectations point to…