The Bank of Japan is set to raise interest rates to a three-decade high on Friday, marking another landmark shift for a country long accustomed to near-zero rates and unconventional monetary policy. The central bank is widely expected to raise short-term interest rates to 0.75% from 0.5% at its two-day policy meeting ending Dec. 19. While still low by global standards, the move adds weight to Japan’s growing conviction that the country has achieved a sustainable cycle of rising inflation and solid wage ga ...

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Core Insights - Cognizant and BayWa are entering a five-year collaboration aimed at digital transformation and IT service operations [1] - The partnership will enhance efficiency and synergies by consolidating IT infrastructure, application management, service desk, and workplace services under Cognizant [2] - The collaboration will introduce modern technologies such as AI and automation, along with continuous modernization of infrastructure and applications [2] Company Overview - Cognizant is a Nasdaq-100 company that focuses on modernizing technology, reimagining processes, and transforming experiences for clients [4] - BayWa AG operates in multiple sectors including agriculture, heating, mobility, technology, and building materials, with around 400 locations and approximately 8,000 employees [5]

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Core Insights - Dubai has not only strengthened its gold market but has also altered the competitive landscape for major trading hubs globally [1] Group 1 - The transformation in Dubai's gold market impacts every major trading hub around the world [1]

Quick update for TradFi traders:Some CME-linked products are temporarily unavailable due to a CME system halt. Gold (XAUUSD) remains fully tradable.👇 Read the full notice for details ...

Core Insights - The rise of day trading is seen as a modern pursuit of the American dream, with many individuals aiming to quit their jobs and trade full-time [2] - Despite aspirations, less than 40% of day traders manage to trade full-time, with many remaining unprofitable [3] Group 1: Day Trading Phenomenon - The event hosted by BullMentor highlights the increasing popularity of day trading as individuals seek financial independence [2] - Many day traders experience challenges balancing their trading activities with regular jobs, often leading to stress and conflicts [4][7] Group 2: Trading Strategies - Successful day traders employ various strategies to manage their dual responsibilities, including automating trades and utilizing work-from-home policies [4][7] - Melissa Avutan advocates for a "set-it-and-forget-it" approach, focusing on premarket research and setting stop losses to mitigate risks [5][6] - Kevin Law shares a similar strategy, opting to open positions in the morning and avoiding market checks during work hours [6]

Bitcoin (BTC) has topped $90,000 as soaring odds for a December Fed rate cut boosts risk sentiment. The broader macro backdrop, though, is far from clean as inflation remains elevated and the rally may face resistance beyond mid-$90,000, according to a Singapore-based trading firm. "We see supply capping moves toward the mid-90ks, while $80K–$82k remains the key support zone," QCP Capital's market insights team said in a market note Thursday. The team explained that bitcoin ETFs listed in the U.S. are y ...

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]

High-frequency trading firms have posted strong profit growth in India despite regulatory curbs, showcasing their agility in tapping opportunities across the country’s $5.4 trillion equity market https://t.co/VVvLxNS146 ...