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Gold prices rose in European trading on Wednesday, extending their gains for the fourth consecutive session and continuing to set new records, successfully trading above the 4,200-dollar-per-ounce mark for the first time in history.   This surge was supported by a decline in the US dollar against a basket of global currencies, particularly following recent comments by Federal Reserve Chairman Jerome Powell, which strengthened expectations of US interest rate cuts in October and December.   To reassess those expectations, global financial markets are now awaiting the release of key US inflation data for September in the coming days, which will…

US President Donald Trump’s administration vowed on Wednesday to work with its allies and other countries to get an upper hand in its trade talks with China, claiming Beijing’s recent rare earth control as a sign of being an “unreliable partner” that threatens global supply chains.The remarks marked the latest in a series of threatened countermeasures, as Trump officials have previously announced 100 per cent tariffs on Chinese goods from November 1 and also strike back on such targets like cooking oil suggested by Trump a day earlier.“China’s actions have once again demonstrated the risk of being dependent on them,…

Shares of Abbott Laboratories fell 3% on Wednesday after the diversified health-care company delivered another less-than-stellar quarter. Revenue in the third quarter ended Sept. 30 rose 6.9% to $11.37 billion, missing the $11.4 billion consensus estimate compiled by market data provider LSEG. Organic sales , excluding Covid testing results, rose 7.5%, beating the 5.9% estimate, according to FactSet. Adjusted earnings per share (EPS) increased 7.4% to $1.30, matching expectations, LSEG data showed. Bottom line Abbott’s Q3 numbers were not the best, with sales in three of its four main operating segments coming up short. It was the second suboptimal quarter…

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. The stock market is higher Wednesday as a rollout of better-than-expected earnings overshadowed investor concerns on intensifying U.S.- China trade talks. President Donald Trump ‘s latest threat to China on Tuesday afternoon derailed the S & P 500’s rally attempt. That failed comeback had been fueled by earlier comments from Fed Chair Jerome Powell suggesting that the central bank may soon end quantitative tightening , or, in simpler terms, stop reducing the size of…

With U.S.-China trade tensions ratcheted back up, CNBC’s Jim Cramer said investors need to look to Europe to better understand the animosity between the world’s two largest economies. That’s where they will find ASML , the Netherlands-based maker of advanced lithography machines that are essential in producing the cutting-edge semiconductors from the likes of Nvidia that are fueling the artificial intelligence boom. Nvidia is a long-held position in Cramer’s Charitable Trust, the portfolio used by the CNBC Investing Club. On Wednesday, ASML reported what Cramer called a “very good” third quarter, with better-than-expected bookings and margins. However, ASML CEO Christophe…

Gold prices rose in European trading on Wednesday, extending their gains for the fourth consecutive session and continuing to set new records, successfully trading above the 4,200-dollar-per-ounce mark for the first time in history.   This surge was supported by a decline in the US dollar against a basket of global currencies, particularly following recent comments by Federal Reserve Chairman Jerome Powell, which strengthened expectations of US interest rate cuts in October and December.   To reassess those expectations, global financial markets are now awaiting the release of key US inflation data for September in the coming days, which will…

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) leader S. M. Tanveer has urged policymakers and stakeholders to adopt the FPCCI’s “District Economy” model to promote a more decentralised and inclusive economic framework across the country. Speaking on Wednesday, Tanveer said the initiative aims to devolve economic decision-making to the district level, empowering local communities and unlocking untapped regional potential. “By doing so, we can unlock the true potential of our nation and build a more prosperous and equitable society for all citizens,” he said. Explaining the concept, the FPCCI leader noted that Pakistan’s economy has long suffered from…

A tentative deal for the management of Chinese short video app TikTok in the United States is facing new pressure after last week’s flare-up in trade tensions between Beijing and Washington, with analysts mixed in their assessment of the pact’s chances for survival.“It’s probably quite hard to see that [deal] happening under such an atmosphere,” said Gary Ng, senior Asia-Pacific economist at Natixis.“I don’t know whether it will collapse or go through … The biggest downside is the US could shut [the app] down and block access.”A flurry of activity in recent weeks from both sides of the divide, most…

Criminal gangs in northern Myanmar targeted Chinese citizens with the support of local political and military leaders, state media has reported.On Wednesday, the national broadcaster CCTV aired a confession from the head of an alleged crime family Wei Huairen, who is also known as Wai San.Wei was handed over to Chinese law enforcement in January.A police officer told the broadcaster that the criminal activities of the Wei family – one of the main ethnically Chinese crime gangs in Kokang – had been “state-authorised”.The broadcaster said the Wei family was different from the other Kokang crime syndicates because its leader directly…

The Hong Kong Monetary Authority (HKMA) has picked the second batch of use cases for testing of generative artificial intelligence (GenAI), as it looks to further promote responsible technological innovation in the financial-services sector.“The second cohort represents a major leap forward in making AI adoption safer and more robust,” said Arthur Yuen Kwok-hang, the authority’s deputy chief executive, in the statement. “The diverse representation of banks in this cohort highlights the industry-wide consensus on AI’s transformative potential.”He added that combined efforts made by the banks, technology firms and academic institutions represented a testament to the HKMA’s commitment to fostering the…