OpenAI Revenue Surges to $12 Billion as ChatGPT User Base Soars OpenAI has reportedly reached an annualized revenue run rate of $12 billion, doubling its monthly revenue in just seven months, according to a person familiar with discussions at the company. The maker of ChatGPT is now generating approximately $1 billion per month, up from … Read more
15% Tariff Deal Avoids Higher Rate: The U.S. will implement a 15% tariff on South Korean imports, sidestepping a potential 25% tariff that would have come into effect on August 1 without an agreement. Comprehensive Trade Agreement Announced: Trump announced a “full and complete” trade agreement with South Korea in a statement on Truth Social.Post … Read more
Xinhua commentary on China-U.S. trade talks China is 100% sincere in the consultations Some deep-seated and structural problems in China-US economic and trade relations cannot be solved overnight China is willing to properly handle differences through dialogue and consultation and find a solution to tariff issue There appears to be some wobbles in the trade … Read more
Goldman Sachs calculates the upcoming U.S. effective tariff rate on all Brazilian imports, including exemptions, at 30.8%. Goldman says the Brazil tariff rate calculation includes expectations for additional sectoral tariffs. Goldman Sachs says tariff retaliation from Brazil would have a larger negative impact on economic activity and inflation. This article was written by Eamonn Sheridan … Read more
Brazil’s central bank holds benchmark interest rate at 15.00%, as expected Decision was unanimous Expects an interruption of the tightening cycle Assessing the accumulated effects of the already implemented adjustment Will evaluate whether the current interest rate level, assuming it stable for a very prolonged period, will be enough to ensure the inflation convergence to … Read more
The official PMIs from China are due today. In the days ahead we’ll get the unofficial, Caixin/S&P PMIs. The two PMIs are quite different. If you are unfamiliar with this, the following will set you up for next year! The PMIs (Purchasing Managers’ Indexes) from China’s National Bureau of Statistics (NBS) and Caixin/S&P Global differ … Read more
The question and answer is over and Powell played it down the middle of the road. Although the Fed chair sees some slowing of the consumer and some employment chinks in the armour citing private employment. Recall the gains from last month work largely from government workers. The market will focus on that on Friday. … Read more
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The major European indices are closing modestly higher. The gains are led by the FTSE MIB which rose 0.98%. A snapshot of the closing levels shows: German DAX +0.19% France’s CAC +0.06% UK’s FTSE 100 +0.01% Spain’s Ibex +0.23% Italy’s FTSE MIB +0.98%. The benchmark 10 year yields in Europe were also mixed: Germany, +1.6 … Read more
With the press conference over, the USDCAD is maintaining the price above the high from June at 1.37969. Staying above that level is key in the short-term for keeping the trend higher in full bullish mode. Having said that, key resistance from the 100 day moving average at 1.38279, and the 61.8% retracement of the … Read more
