Core Insights - Revolut has completed a secondary share sale, achieving a valuation of $75 billion, which represents a 66% increase from 2024 [1] - The fundraising was led by prominent investors including Coatue, Greenoaks, Dragoneer, and Fidelity Management & Research Company, with participation from firms like Andreessen Horowitz, Franklin Templeton, and T Rowe Price Associates [1][2] - NVentures, NVIDIA's venture capital arm, participated in the transaction, enhancing Revolut's collaboration with NVIDIA in artificial intelligence [2] Financial Performance - In 2024, Revolut reported a 72% increase in revenue to $4 billion, while profit before tax surged by 149% to $1.4 billion [3] - The company's growth trajectory has continued into 2025, with a global retail customer base exceeding 65 million and Revolut Business achieving $1 billion in annualized revenue [3] Strategic Developments - Key milestones for Revolut this year include obtaining final banking authorization, launching in Mexico, acquiring a banking incorporation license in Colombia, and planning a launch in India [4] - These developments are part of Revolut's strategy to position itself as a global bank across multiple continents [4] Leadership Statements - CEO Nik Storonsky emphasized the company's progress towards becoming a truly global bank, aiming to serve 100 million customers across 100 countries [5] - CFO Victor Stinga highlighted the strong investor interest and the new valuation as indicators of the company's robust business model, which is delivering rapid growth and strong profitability [5]

The market is attempting to recover from last week's losses as investors regroup after a sharp sell-off that hit both tech and crypto. Traders are keeping an eye on upcoming U.S. data before the Thanksgiving holiday, including September retail sales and producer price figures. Thanksgiving week has also tended to be a positive period for stocks. Bespoke Investment notes that since 1945, the S&P 500 has posted a median gain of 0.76% during this week. Money markets currently suggest there is about a 75% chanc ...

India's economic growth likely stayed strong at 7.2% in the July-September quarter, albeit down from 7.8% in the previous one, led by continued improvements in rural activity and the statistical effect of a low base and low inflation, according to 15 economists in a Mint poll. The economists projected India’s GDP growth in the range of 7% to 7.7% in the September quarter. The official data is scheduled to be released on Friday. The high projected growth number is likely due in part to a low base. GDP growt ...

Core Insights - Trafigura Group faced significant financial losses, approximately $600 million, due to questionable nickel-financing deals with firms run by Prateek Gupta, which have been described as resembling a Ponzi scheme [1][4] - Concerns regarding the relationship with Gupta were raised as early as September 2020, indicating that senior management was aware of potential risks long before the eventual collapse of the trading arrangement [2][3][5] Group 1: Financial Impact and Allegations - The trading house revealed in early 2023 that it had been defrauded, discovering that over $500 million worth of metal it purchased contained no nickel but rather stainless steel, aluminum, and worthless iron briquettes [4] - By 2021, the business dealings with Gupta had escalated to nearly 70,000 tons, equating to $1.2 billion in annual trading, despite earlier warnings from the trade finance department [5] - Gupta's firms engaged in "transit financing," where cargoes were sold and then bought back at a premium, raising questions about the legitimacy of the transactions [6] Group 2: Internal Concerns and Management Awareness - Emails from Trafigura's trade finance desk highlighted alarm over the business strategy with Gupta, noting long voyage times, high interest costs, and irregular sales, which led to concerns from major banks like Credit Suisse and Deutsche Bank about processing payments to Gupta's companies [8] - Senior figures within Trafigura, including the co-heads of metals, expressed disapproval of the dealings with Gupta, indicating a mixed reception among the company's leadership [9]

Market Overview - The local share market started strong but quickly traded flat with minor losses throughout the session [1] - Gold prices rose above US$4,100 an ounce amid mixed responses to potential US Fed rate cuts, while major banks showed declines [2] Economic Indicators - Monthly CPI data from the ABS is expected, but significant market movement is unlikely unless there is a major shock [3] Sector Performance - Materials sector led with a gain of approximately 1.5%, while financials lagged down over 1% [3] Company Highlights - WEB Travel Group's stock increased nearly 10% after earnings met analyst expectations, focusing on B2B hotel room bookings [3] - Metallium Ltd's shares jumped over 15% intraday as it announced plans to list ADRs on NASDAQ, with a focus on extracting metals from e-waste [4] - Droneshield's stock rose following a $5 million contract announcement, alleviating concerns over recent director share sales [4] Company Declines - Bendigo Bank's shares fell after a Deloitte report indicated deficiencies in its money laundering risk assessment protocols, compounding recent cost concerns [4] - Bougainville Copper's stock plummeted 50% after a partner ceased contact, leading to a separate MOU with the Bougainville government that restricts Bougainville Copper's involvement [5]

ab 20 November 2025 Global Research Global Strategy 2026 Outlook: AI Debt Boom Meets Credit Risk Global: A US-led Correction, but the Credit Cycle Continues US: A Private Credit and AI Debt Financing Story EU: A J-curve Recovery and Dispersion Story Global Strategy Global Matthew Mish, CFA Strategist matthew.mish@ubs.com +1-203-719 1242 Julien Conzano Strategist julien.conzano@ubs.com +44-20-7567 2067 Bhanu Baweja Strategist bhanu.baweja@ubs.com +44-20-7568 6833 Global: A US-led Correction, but the Credit C ...

20 November 2025 12 stocks for 2026 Equity Strategy Ideas in Asia that look beyond AI In 2025, Asian markets were driven by AI and a Chinese equity rebound. In 2026, we think it will be all about growth beyond AI, dividends and forgotten Asia stories. We present 12 actionable stock ideas that reflect these themes and which are also recommended by our equity analysts. For more details on these 12 stocks, see page 2. We update our index targets for 14 markets across Asia in 2026e in The year ahead in 2026 – I ...

Core Insights - The Federal Reserve faces a challenging decision at its upcoming policy meeting regarding whether to cut borrowing costs to support the job market or maintain rates to combat inflation, with the possibility of delaying the meeting altogether due to delayed economic data [1][3][6] Economic Implications - A delay in the December policy meeting could allow the Fed to make a more informed decision based on crucial employment data scheduled for release after the current meeting date [2][6] - The Fed's policy committee is reportedly divided on whether to prioritize inflation control or support the job market, with financial markets indicating an 83% probability of a rate cut in December [8] Data Availability and Decision-Making - The government shutdown has created a data blackout, complicating the Fed's ability to calibrate monetary policy effectively, leading to speculation about postponing the meeting to gather more information [3][4][8] - Without key economic data for October and November, the upcoming meeting may rely more on sentiment rather than concrete evidence, raising concerns about the decision-making process [9]

Nov 24, 2025 4:15 PM Eastern Standard Time JPMorgan Chase Financial Company LLC Declares Quarterly Coupon on Alerian MLP Index ETN Share NEW YORK--(BUSINESS WIRE)--JPMorgan Chase Financial Company LLC announced today the quarterly coupon amount for the Alerian MLP Index ETN (NYSE Arca: AMJB). The table below summarizes the coupon amount for the Alerian MLP Index ETN due January 28, 2044 (the "Notes†). | NYSEArcaTicker | RegisteredIssue | DeclarationDate | Ex | RecordDate | PaymentDate | CouponAmountper | ...

Unemployment is an unsettling situation that, for many, means a lack of steady income. As of Aug. 2025, 4.3% of Americans — 7.4 million — were unemployed and actively looking for work, according to the Bureau of Labor Statistics. If you’re part of that demographic, here’s what to know about using a credit card vs. using your savings account to meet your expenses. Should I use my credit card while unemployed? While you may be able to get by with your savings in the short term, long stretches of unemployme ...