Author: admin

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 Tuesday’s key moments. 1. Stocks declined Tuesday after Palantir’s quarterly results and subsequent stock drop stoked valuation concerns about AI-related names. The S & P 500 was down nearly 1%, while the Nasdaq lost nearly 1.5%. The market move lower is nothing to be concerned about, Jim Cramer said. “So, what’s really happened? The answer is nothing.” Instead, he added, “There is just a concentrated group of people who believe that right now the market is overvalued.” 2.…

GENEVA: The United Arab Emirates increased its gold imports from war-stricken Sudan by 70 percent in 2024, a Swiss NGO said on Tuesday, calling the UAE “a global hub for gold of dubious origin”. The wealthy oil-producing country imported 29 tonnes of gold from Sudan last year, up from 17 tonnes in 2023, as well as significant quantities from neighbouring countries, the NGO Swissaid said. It cited UAE foreign trade figures published in the United Nations’s Comtrade database on October 31. The data has since been removed from the platform, Swissaid said. The war in Sudan between the army paramilitary…

The European Commission says a “worst-case scenario” has been averted after China’s commerce ministry engaged with European companies in recent days to restart the flow of semiconductors that had been disrupted by a crisis surrounding the company Nexperia.The saga, which saw the Dutch-headquartered company cut off from its Chinese processing facilities following a dispute between The Hague and Beijing, threatened to throw Europe’s automotive industry into disarray.Dutch authorities ousted the Chinese-owned company’s management on September 30, claiming that they had become aware of plans to move production of one of Europe’s premier chipmaking facilities to China.Unsealed Dutch court documents showed…

Singapore’s parliament on Tuesday passed a law that introduced caning as a punishment for scammers and money mules, as the country battles a scourge of fraud cases.Under the Criminal Law (Miscellaneous Amendments) Bill, scammers as well as members and recruiters of scam syndicates will be punished with six to 24 strokes of the cane.The harsher penalties aim to enhance deterrence against scams, which are the most prevalent form of crime in Singapore, according to Senior Minister of State for Home Affairs Sim Ann.Sim, who presented the bill, said scam syndicates had the “highest level of culpability” and used significant resources…

The U.S. dollar traded near a three-month high on Tuesday as investors reassessed interest-rate expectations amid growing divisions within the Federal Reserve, while the British pound slipped after Finance Minister Rachel Reeves warned of “difficult choices” in her upcoming budget.   Markets turned broadly risk-averse, with equities falling, demand for government bonds rising, and traditional safe-haven currencies such as the yen and the Swiss franc holding firm.   Data gap leaves Fed and investors in the dark   Fed officials continued to issue mixed signals on the economic outlook and inflation risks as the ongoing U.S. government shutdown keeps key…

My top 10 things to watch Tuesday, Nov. 4, Election Day 1. Palantir’s quarterly beat and guidance raise were not good enough. Or, maybe, it’s the paradox of an amazing company with a big market cap ahead of where most people think it deserves it. Shares of the software maker sank more than 8%. Besides a strong business, Palantir has a ridiculously high Rule of 40. That’s when revenue growth and profit margin together should add up to 40%. Instead, Palantir saw revenue increase by 63% and profit margin rise by 51% during the quarter for a Rule of 40…

Chinese scientists have made a “historic leap” in developing a chip that can cope with extreme levels of radiation.The Field-Programmable Gate Array (FPGA) chip has a wide range of potential uses, including satellite command and control systems, spaceborne computers and weapons systems.Its hardware can be reconfigured after manufacturing to perform a wide variety of specific tasks.This flexibility makes FPGAs useful for custom computing applications and electronic systems that may need to be updated during use.National Science Review, the domestic journal that published the latest research, said the development marked a “historic leap for 2D semiconductors from simple circuits to complex…

PARIS (AP) — French President Emmanuel Macron said Tuesday that two French nationals have been released from an Iranian prison after more than 3 years in detention on spying charges which Paris said were unfounded.Macron expressed “huge relief” at the release of Cécile Kohler, 41, and her partner Jacques Paris, 72. “I welcome that first step,” Macron wrote on X, adding that the dialogue with Iranian authorities is continuing to allow them to return to France “as soon as possible.”French Foreign Minister Jean-Noël Barrot said on X that Kohler and Paris were both “safe” at the French Residence in Tehran…

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing.1. China, US must take action after Xi-Trump summit, avoid ‘new disruptions’: envoyChina’s top envoy to the US said the top priority for both countries is to translate recent outcomes from meetings in Busan and Kuala Lumpur into concrete actions without “causing new disruptions”.2. Lead scientist of China’s thorium reactor project died working on the computerXu Hongjie, a nuclear physicist and pioneer of China’s thorium reactor programme, remained engaged and involved in his field until his…

Amap, the mapping and local services business under Alibaba Group Holding, is expanding its global footprint in tandem with the overseas drive of Chinese carmakers, potentially challenging the dominance of Google Maps.Amap on Monday unveiled an international version of its AutoSDK, a software toolkit designed to support carmakers in developing in-car navigation and cockpit systems for foreign markets. Alibaba owns the South China Morning Post.Chinese car brands had long struggled to adapt their navigation services to different geographies and local users, making it difficult to iterate quickly to meet global expectations, Amap said in a statement.Drawing on experience from partnerships…