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Thyssenkrupp nucera abandons US projects for green hydrogen that are no longer considered feasible. -CEO
Thyssenkrupp nucera's CEO announced on Wednesday that the company is currently in discussions with all stakeholders regarding its U.S. project portfolio and has abandoned those projects no longer considered feasible because of tax and spending reforms initiated by U.S. president Donald Trump. The global demand for green hydrogen had stagnated amid concerns among clean-tech industry players about what Trump's policy would mean for the sector. Werner Ponikwar, the chief executive of Thyssenkrupp Nucera, said that the company was more confident about the financial viability for U.S.-based projects following the passage of U.S. laws eliminating some tax credits on low-carbon sources of energy. Ponikwar told journalists in a conference call after the company announced its results, "We have eliminated all projects with a lower chance of success due to the changes in U.S. framework conditions." Trump's tax and spending legislation has made it more difficult to develop green technology projects in the U.S., by phasing them out after 2026 for projects that haven't started construction. Ponikwar stated that Thyssenkrupp will be able advance projects in the state sector, particularly those at an advanced stage, if construction begins before a new deadline of end 2027. Ponikwar stated that "we are convinced that there is still a lot of potential in the market for hydrogen electrolysis." He added that the company must be patient and wait longer than they had initially anticipated. Ponikwar reiterated his comments from December, saying that if U.S. project do not materialize, Thyssenkrupp Nucera would use its U.S. resource "for other purposes".
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Muthoot Finance, India, beats its quarterly profit forecast on the strength of loan growth
Indian gold loan financier Muthoot Finance announced a 90% increase in its first-quarter profits on Wednesday. This was aided by a higher demand for loans as the price of precious metals soared. Muthoot Finance has reported a profit for the quarter April-June of 20,46 billion rupees (US$233.91m), which is above analysts' estimates of 16,24 billion rupees. This was based on data compiled by LSEG. Gold prices reached multiple records during the third quarter. Gold financiers benefit from this as the higher prices allow borrowers to get larger loans with the same amount. Analysts said that tighter lending conditions in the unsecured sector prompted people to turn to gold loans as a source of alternative funds. Muthoot Finance’s standalone loan assets were up 42% on an annual basis to 1.2 trillion Rupees by the end of the third quarter. Interest income was also up 53%, to 55.92 Billion Rupees. In a press release, Managing Director George Alexander Muthoot stated that "we are well-positioned" to continue strong growth into fiscal 2026. The company has also approved equity injections of 5 billion and 2 billion rupees into its two units, Muthoot Money, and Muthoot Homefin.
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Copper prices rise on weaker dollar and improved trade sentiment
The copper price edged upwards on Wednesday, as a weaker US dollar helped extend the benefits of this week's extension by 90 days of the tariff truce agreement between the United States (the top metals consumer) and China. By 1000 GMT, the benchmark copper price on London Metal Exchange had risen 0.1% to $9.854 per metric ton. It reached $9,865 Tuesday and Wednesday. This is the highest level since July 25. The 90-day extension of the U.S. China trade talks has been welcomed, and all base metals rose yesterday. The copper price is holding on to its gains thanks to a weaker dollar, said Nitesh Shah, commodity strategist at WisdomTree. As expectations for a Federal Reserve interest rate cut increased, dollar-priced goods became more appealing to buyers who use other currencies. President Donald Trump’s efforts to expand his control over U.S. financial institutions also weakened the U.S. dollar. Shah stated that the data sets from China, due to be released this week, may give a clearer picture of the direction the base metals complex is heading in. Any weakness could make the case for an economic stimulus more compelling. China's new loans in yuan shrank by 50 billion yuan (6.97 billion dollars) in July. This was a far cry from analysts' predictions and a significant drop compared to the 2.24 trillion yuan of June. Analysts use the outstanding total social finance in China as a measure of industrial metals demands. The growth rate of this financing rose from 8.9% to 9.0% per annum last month. The suspension of production by Chinese battery giant CATL at a large lithium mine earlier this week, as it applied to extend its mining license, raised hopes for a wider crackdown on overcapacity. "China's determination to stop 'involution,' has been demonstrated by the suspension of CATL’s lithium mine. Shah said that we are waiting to see if China takes similar measures to address the copper refining capacity overcapacity, which may support prices. LME aluminium increased 0.4% at $2,629.50 per ton. Zinc fell 0.1% at $2,844.50. Lead dropped 0.4% to $2,000, tin slipped 0.4% from $33,725, and nickel rose 0.1% to $16,335. (Reporting and editing by Harikrishnan Nair; Reporting by Polina Devtt)
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Farm union estimates that Ukraine's 2025 corn and sunseed crops will be 14 million tons each, while the sunseed crop is expected to be around 14 million tons.
The UAC, the producers' union, said that due to extreme drought in parts of southern Ukraine and eastern Ukraine (including Kiev), sunflower production estimates for 2025 have been drastically reduced from 16 million metric tons. UAC said, however, that weather conditions would not affect the corn crop, which could be as high as 28 million tons. In 2024, Ukraine produced 26 million tons. "Moisture reserve in the south and eastern are extremely low. This is a negative for sunflowers which are abundant in this region. UAC reported that August will be hot and dry. These regions are expected to continue burning. Even if the plan is to harvest between 15.5 and 16 million tons, that would be around 14 million. But even this is optimistic. "According to estimates, current volumes are estimated at around 13 million tons," it said. Ukraine is one of the largest sunflower oil producers and exporters in the world. APK-Inform, an analyst firm, said that it has revised its forecasts for the Ukraine sunflower oil and sunflower seed harvest in 2025 due to bad weather conditions in the southern regions. The consultancy estimated that Ukraine's sunflower oil production could fall to 5,94 million tonnes from an earlier estimate of 6,22 million tons. Ukrainian state forecasters stated in a recent report that the sunflower yields could be among the lowest of the past 10 years in southern Ukraine, ranging between 0.5 and 1.3 tons per ha. The forecasters stated that the average yield of sunflowers in Ukraine will not exceed 1,95 tons per hectare, compared to a first forecast (in June) of 2,31 tons. They also said the harvest could be between 10-15% less than what was forecasted in June. UAC stated that the drought affected corn crops only partially, and continued rainfall deficits could allow for a higher harvest. This week, the Ukrainian Economy Ministry increased its forecast of 2025 corn production to 28 million tonnes from 26 million. Taras Vysotskiy, Deputy Economy Ministry, said that a corn harvest larger than expected of 28 million tonnes was the primary reason for the increased estimate of grain production in this year's 56 million tons. Vysotskiy stated that the outlook for wheat crops was unchanged, at 21 million tons. UAC estimates the 2025 wheat harvest at 20-21 million tons. As of August 7, official data indicated that Ukrainian farmers harvested nearly 20 million tons, including 14.9 millions tons of wheat. Reporting by Pavel Polityuk Editing Bernadettebaum and Giles Elgood
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The mine that funds Congo's rebels and feeds the tech industry
Under the watchful eyes of M23 rebels, in the hills surrounding the Congolese city of Rubaya a line men in rubber boot ferry sacks of crushed stones up winding paths cut in to the slopes. Coltan, a mineral which powers modern technology, is being hauled by the workers. The ore is loaded onto motorbikes, and then shipped thousands of kilometers to Asia. The ore is then processed into tantalum - a heat resistant metal which fetches over $300 per kilogram. It's in demand by manufacturers of mobile phones and computers as well as aerospace components and gas engines. Rubaya is responsible for 15% of all the coltan produced in the world. Coltan is mined by hand, and locals earn just a few dollars a day. The control of this mine is at the heart of a long-running war in this nation in central Africa. M23, the rebel group backed by Rwanda's government, took over the area in April 2024. The heavily-armed M23 rebels, who claim to be fighting for the overthrow of the Kinshasa government and the safety of Congolese Tutsi minorities, have captured more mineral-rich land in eastern Democratic Republic of Congo this year. M23 and DRC pledged to sign an agreement in Doha, Qatar, at a ceremony this month. The United States mediates parallel talks between Congo, Rwanda and a potential investment of billions in the event that hostilities end. The United States Treasury sanctioned on Tuesday other alleged participants of minerals smuggling, including PARECO FF, a progovernment Congolese milita that the U.S. claimed controlled the Rubaya mine site from early 2024 to 2022, before M23 took over. PARECO-FF was not available for comment. A senior U.S. official was asked at a briefing by the press why Washington targeted PARECO-FF and not M23. He noted that sanctions have been placed on M23 since 2013 because it has fuelled conflict in the area. John K. Hurley said that the Treasury Department would not hesitate to act against groups who deny the United States or our allies the access to critical minerals essential for our national security. Jason Stearns is a former U.N. inspector in Congo. He said that the fact that M23 wasn't targeted by the new mining sanctions was surprising. M23's advances pose the greatest threat to Kinshasa's government in the last two decades. The conflict stems from the 1994 Rwandan genocide in which around one million members of Rwanda's Tutsi group were killed by Hutu-led militias. The Rwandan government has denied for years that it is involved in the trade of coltan, looted by its neighbor, or that it supports M23. Rwanda's ruling Tutsi majority party shares the same concern as M23 about the alleged threat of rival Hutu groups in eastern Congo. According to a U.N. document reviewed by the Associated Press on July 3, Rwanda had deployed between 1,000 and 1,500 troops into rebel-controlled Congo areas as of April. M23 controls two important Congolese towns - Goma, and Bukavu on the Rwandan border. U.N. Investigators claim that Congolese minerals, which are often transported illegally to Rwanda through these cities, are mixed with Rwandan coltan before being exported. M23, the Rwandan government and the Congolese government did not respond to comments. Congolese officials accuse Rwanda of fomenting conflict in order to plunder Congo’s mineral wealth. A U.N. December report stated that the size of the trade increased after M23 captured Rubaya. U.N. report: The rebels established a parallel government that controlled mining, trade, transportation, and taxation on the minerals produced in Rubaya. Reporters visited Rubaya, in March of this year. M23 officials told them that the rebels had levied a 15% tax on the coltan the mineral traders purchased from the informal miner's who worked the area. According to a U.N. report from December, M23 collected $800,000 per month from levies on coltan mined in eastern Congo. MUD AND MOTORBIKES Rubaya is a beehive of pits that are so vast and complex, it's a huge undertaking to reach them. Journalists who visited the mines in March were forced to abandon their Land Cruisers when they became stuck on a muddy road leading from Goma. The journalists walked for 5 km (3 miles) in order to get to the town, and then they hopped onto motorcycles with rebel officials so that they could reach the mines. The activity in Rubaya starts before dawn when thousands of miner descend into the pits cut in the rolling hills of Congo’s North Kivu Province, where many work in 12-hour shifts. Tunnels can reach a depth of up to 15 meters (49 feet). Porters transport the ore fragments to shallow basins filled with water dug by laborers. Other workers, including children and women, then wash and separate the ore from debris and sand before laying it out in the sun to dry. The journalists were closely supervised by M23 personnel who were unarmed throughout their stay in the mining area. Reporters saw rebel officials jotting in a notebook the number of sacks that each porter, covered in fine white dust, carried to each collection point. Once the ore has dried, it's stacked onto motorbikes and transported to Rubaya where it is sold by traders. Pascal Mugisha Nsabimana (32), a miner from Congo, was told by a M23 chaperone that it is better to work under rebel occupation than to labor under the supervision and control of the Congolese military or its allies who fled the area when M23 invaded the region last year. In the past, "there was a lot of harassment, a lot of taxes and we, as diggers, often were not paid." The miner added that even when they did get paid, it was not enough. He said that under M23, his day rate has at least tripled. According to over a dozen sources, including former and current smugglers as well as miners and businessmen, in the months immediately following the M23 takeover of Rubaya, Congolese troops remained along the border. Smugglers then used motorcycles to sneak ore into Rwanda by using backroads. According to two former smugglers, who transported coltan in this manner until last year, the journey could take a whole day. The two ex-smugglers said that they would load their bikes with three bags of 50 kilograms each time and receive about $34 per trip for delivering the coltan to traders. Nine of these people stated that M23's changes have been a game changer for efficiency. Motorcycles are not the main means of transportation anymore, and they are only used to transport the coltan to Rubaya from the mine. According to the U.N. report and the people, ore is then loaded into SUVs, pickups, and other vehicles that can haul anywhere between two to twenty tons. It is also faster. Coltan trucks are now able to pass through Goma on paved roads, since M23 has taken control of the border city and driven Congolese forces out. This, according to people, has shortened transport times. Experts at the United Nations and human rights activists warn that illegal mining profits are used to fund conflict. The trade, they say, has not brought much wealth to the locals and child labor is very common. At least 12 children were seen working in the Rubaya Mine: Boys entered the shafts and hauled out the ore, then carried it to basins where the girls washed and dried the coltan alongside the adults. Gregory Mthembu Salter, former U.N. expert in Congo, who is now a consultant on conflict minerals said that efforts made by the mining industry and U.N. agencies, as well as non-government organisations, to clean the supply chain of the region and prevent human right abuses, which began around 2010, have failed. Mthembu Salter, Phuzumoya Consulting's director, said: "The same thing has happened 15 years after." U.S. INVESTORS LOOK AT RUBAYA RICHES Some U.S. investors have also targeted Rubaya's riches in coltan as President Donald Trump tries to broker a deal to end conflict and promote the development of the mineral wealth of the region. These riches in Congo include cobalt reserves, gold, diamonds, copper, and lithium. The formal mining sector of the country is currently dominated by Chinese firms. According to a source with direct knowledge, Texas hedge fund manager Gentry beach, who is the chairman of America First Global, and raised funds for Trump's 2016 election campaign, was part of a group that sought to negotiate the rights to Rubaya Mine. Gentry Beach's interest in Congo coltan was first reported by The Financial Times. Sources told us that Beach's Group had proposed the Congolese Government to take a majority stake, while Kinshasa retained a 30% share. Beach expressed his interest in a project but refused to give any additional details. Some U.S. legislators are pushing back. In a letter sent to Trump and U.S. secretary of state Marco Rubio on August 8, more than 50 Democratic members of congress criticized the lack of transparency of the DRC negotiations by the Trump administration. The Democratic congress members also expressed concern about a possible conflict of interest if a Trump ally was angling to obtain rights to develop Rubaya Mine. Anna Kelly, White House Deputy press secretary, said in an email statement dated 5 August that the agreement Trump arranged between Congo and Rwanda has the potential of leading to lasting peace in the region. The president's vision is a "win-win outcome where all parties benefit--economically and politically--through cooperation and shared prosperity," the statement said. She did not answer a question about the letter sent by congressional Democrats. The U.S. State Department made no comment. In a statement released on August 1, the State Department stated that it would support efforts made by Rwanda to promote security and economic co-operation. According to the statement which didn't go into detail, heads of state will be invited to Washington soon for a summit. The U.S.-backed agreement does not include the M23. The rebel group is a part of a parallel, separate mediation that Qatar has led to try and end hostilities. Success in the Doha talks is crucial to a lasting peace and to making Rubaya a safe place for Western mining interests. Some analysts and diplomats are unsure about the chances of a quick resolution. Congo and the M23 rebels agreed in Doha that a deal would be reached by August 18th. The U.N. says that the U.S. has a responsibility for the deaths of 319 civilians last month in eastern Congo. Could not independently confirm these killings. M23 leader Bertrand Bisimwa said to the news agency that the group would investigate. He also suggested reports of atrocities were a "smear" campaign against the insurgent. The U.S.-brokered agreement calls for Rwandan soldiers to withdraw from Congo. Last month, Rwandan President Paul Kagame stated that he wasn't sure if the agreement would stand. Kagame stated that the Congo must first fulfill its promise to defeat the Democratic Forces for the Liberation of Rwanda, an ethnic Hutu group based in eastern Congo and linked to the Rwandan Genocide. Kigali views the FDLR as an existential danger. Josaphat Muamba, a Congolese Ph.D. student at Ghent University, Belgium, said that suppressing the militias would be a difficult task for the DRC military, as it is not present in vast swathes M23-controlled land. Musamba stated that it was difficult to neutralize FDLR while M23 were still in place and the Congolese Army had not been redeployed. He called both peace initiatives "piecemeal efforts" that don't deal with "the realities on the ground." A senior diplomat, who closely follows the events in Rubaya, stated that another formidable task would be to transform Rubaya's crude system for coltan extraction. The diplomat stated that "no one speaks about the feasibility of granting these mining concessions or running these concessions. Especially since the entire mine is artisanal" done almost exclusively by hand.
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Oil drops as IEA increases supply forecast and investors wait for US-Russian meeting
The oil prices dropped on Wednesday, after the IEA stated that supply has surpassed demand in this year. Investors were awaiting Friday's meeting of U.S. president Donald Trump with Russian President Vladimir Putin. Brent crude futures dropped 45 cents or 0.7% to $65.67 per barrel at 0831 GMT. U.S. West Texas Intermediate Crude futures were down 53 cents or 0.8%, at $62.64. On Tuesday, both contracts were settled at lower prices. Trump and Putin will meet in Alaska this Friday to discuss ending Russia’s war in Ukraine that has shaken the oil markets since 2022. In a recent note, PVM Oil analyst Tamas Variga said that oil prices fell on the expectation that the Friday summit would not lead to additional sanctions against Russia. This ensures the country's crude will continue to flow primarily to the east and south. The International Energy Agency announced on Wednesday raised OPEC+ has lowered their forecast for oil demand growth in the coming year, but they have not lowered their forecast for oil supply. Varga said that the updated monthly report of OPEC on global supply-demand was the most important source of long-term support. It raised the global oil demand forecasts for next year, while reducing the estimate for the growth in the supply from the United States, and other producers outside OPEC+, indicating a tighter marketplace. Investors were also waiting for further clues, after a report from the industry showed that U.S. crude stocks rose last week. Market sources cited American Petroleum Institute data on Tuesday to report that crude inventories in the United States - the world's largest oil consumer - rose by 1,52 million barrels during the past week. Gasoline stocks fell while distillate stockpiles rose slightly, according to market sources. According to the polled analysts, today's Energy Information Administration report will show that crude inventories dropped by approximately 300,000 barrels in the last week. In its Short Term Energy Outlook, the EIA forecast that Brent prices would average less than $60 a barrel in the fourth-quarter, the lowest average price since 2020. The EIA stated that the growth of global oil supplies would exceed the growth in demand for petroleum. (Reporting from Seher Dareen and Jeslyn in Singapore, with editing by Christian Schmollinger & Stephen Coates).
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IEA increases 2025 oil forecast following OPEC+ decision to increase output
The International Energy Agency raised its forecast on oil supply growth for this year after a decision was made by the OPEC+ group of producers to increase production. It also lowered its forecast on demand due to a lacklustre level of demand in the major economies. In a report published monthly, the IEA, an agency that advises industrialised nations, said it expects global oil production to increase by 2.5 million barrels a day (bpd). This is up from 2.1million bpd, as previously predicted. The Paris-based agency predicted that the world's oil demand would rise by 680,000 barrels per day (bpd) this year. This is down from the 700,000 bpd forecast previously. The latest data shows a lacklustre level of demand in the major economies. With consumer confidence still low, a rapid rebound seems remote, according to the IEA. After the IEA's report was published at 8am GMT, oil prices briefly extended their losses. According to the IEA, despite higher OPEC+ output, non-OPEC producers are expected to continue leading world supply growth in this year and next. The IEA said that despite lowering its forecast for demand, it expects the global oil refinery runs to reach an all-time record of 85,6 million bpd by August. Reporting by Enes Tunagur Editing by Alex Lawler Bernadettebaum and Tomaszjanowski
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Gold prices rise on Fed rate cut bets and a weaker dollar
Gold prices rose on Wednesday, as the expectation of a U.S. Federal Reserve rate cut in September gained momentum following a mild inflation report. A weaker dollar also boosted bullion demand. As of 0802 GMT, spot gold rose 0.3% to $3354.77 an ounce. U.S. Gold Futures for December Delivery increased by 0.1% to $3,403.20. Market participants are beginning to discuss if the Fed is going to make a 50 basis-point cut at its meeting in September following yesterday's comments by U.S. Treasury Sec. Bessent, with a focus of incoming weaker U.S. Economic data supporting that," said UBS commodities analyst Giovanni Staunovo. The markets are pricing in more than 90% of the chance that the Fed will cut rates next month. After July's modest inflation spike, which indicated a limited impact on consumer prices from U.S. tariffs, at least one further reduction is expected by year's end. A low interest rate environment is usually beneficial to gold, which is a non-yielding investment that's often seen as a safe-haven asset during economic or geopolitical uncertainty. Dollar index has hit a low of two weeks, making the price of greenback bullion more accessible to overseas buyers. The European and Ukrainian leaders are meeting with U.S. president Donald Trump in a virtual session on Wednesday, ahead of the summit between him and Russian President Vladimir Putin. They will be trying to make clear that selling out Kyiv’s interests for a ceasefire is a dangerous thing. "Don't anticipate those talks will have a meaningful impact on the gold market. (They) may trigger some short-term instability." Staunovo stated that near-term gold prices will likely move sideways until U.S. economic data starts to support an earlier (Fed rate) cut cycle. The U.S., China and other countries extended the 90-day tariff truce, which prevented triple-digit duty on goods from each country. Spot silver was up 1.3% at $38.39 an ounce. Platinum rose 0.8% to 1,346.05 while palladium was up 0.4% to 1,133.72. (Reporting and editing by Rashmi aich in Bengaluru, Anmol Choubey)
Investors see the beginning of a tectonic move away from US markets
The global money flows are being upended by a historic trade war, the proposed European fiscal bazooka of $1.2 trillion and China's rise as the leader in the tech race. This could be a turning point, with investor capital moving away from the United States.
China released more stimulus on Tuesday and pledged to make greater efforts in order to mitigate the impact of a escalating U.S. Trade War. The likely next German government had agreed to the largest overhaul of fiscal policy since the reunification.
The U.S. trade war, which began this week, is hurting the mood both inside and outside of the world's largest economy.
Investors have bet heavily on the "U.S. exceptionalism" for the past three years. The country has been ahead of other countries in terms of economic growth, stock market prices, artificial intelligent and many other areas.
Tim Graf, State Street Global Markets' head of macro strategy in EMEA, said: "The U.S. has changed, and the world is now saying that we must adapt, as the U.S. no longer is a reliable trade partner. We have to look after our own defence needs."
A rare divergence on global stock markets has been fueled by the change in sentiment.
The S&P 500 index has fallen 1.8% in the past year. However, European shares have risen almost 9% to a new record high. Tech stocks in Hong Kong are up nearly 30%.
The euro has soared above $1.07 for the first time in four months, and many banks have backed away from their calls to drop it to parity with the dollar.
According to weekly data released by the Commodity Futures Trading Commission, investors have cut their bullish dollar bets in half since the inauguration of U.S. president Donald Trump in January.
Dario Perkins is the managing director of global macro for TS Lombard.
The aggressiveness and threat of tariffs by Trump has forced other countries to spend even more.
In his first 44 working days, Trump has completely rewritten the playbook of foreign relations that had been in place since 1945. He's also launched a trade war with his largest trading partners, and forced European leaders into a radical rethinking of how they fund security.
The U.S. economic growth is slowing down due to tariffs and trade uncertainties. Companies that are more susceptible to a slower rate of growth are beginning to show cracks.
In the past month, an index of U.S. bank stocks has dropped 8% while its European counterpart has increased 15%.
Investors are diversifying away from the U.S. markets by pouring money into Europe.
Spending Big
The dollar looks less attractive as Europe and China are poised to spend large amounts.
"We were long the dollar against euro, and we closed this position more than a week ago. Mark Dowding is chief investment officer of RBC's BlueBay Fixed Income team. The behaviour of Trump has reduced the appeal for U.S. investments in general.
The government has taken several steps to encourage spending at home after investors sold Chinese assets in the past year. As the economy slowed, and wealthy consumers closed their wallets, it took several measures to encourage domestic consumption. Many still saw China as an uninvestable country in the absence a jumbo-stimulus plan, as tensions from a real estate bubble burst that affected both companies and homeowners remained.
Lipper data shows that the almost uninterrupted outflows of China-focused funds following Trump's victory in November have reversed to some $3 billion in early February.
Megacap tech stocks are a major draw for the U.S. Stock Market. Nvidia has been a leader in the AI investment revolution, and is one of the most valuable companies on the planet.
It was not until late January that a low-cost Chinese AI model, previously unknown, made a serious impact on the AI arms race.
DeepSeek's appearance has not only challenged assumptions about AI costs and efficiency, but also revealed how far behind Western companies China was.
Hong Kong tech stocks are up 24% since January 27. A basket of U.S. megacap tech stocks is down 12%.
Yang Tingwu is vice general manager at asset manager Tongheng Investment. He said that China's stock markets are already immune to increased U.S. Tariffs, as the growing strength of China is supporting domestic assets.
Yang stated that "China's technological clout has expanded if you look at TikTok or Xiaohongshu, as well as DeepSeek."
In response to the imminent sale of a rival social media platform, American users are rapidly migrating to Xiaohongshu. This Chinese platform is known in English as RedNote.
TikTok's U.S. operations.
For some, the dollar's appeal will last over time due to a resilient U.S. economic climate and higher interest rates.
Nate Thooft is the CIO of Multi-Asset Solutions & Global Equities for Manulife Investment Management. He said: "I think there's a change in play. We view it as a tactic versus a major secular shift." Recently, he upgraded his maximum underweight position on European stocks to neutral.
(source: Reuters)