Author: Will Smith
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Alibaba Raises Its Share Buyback Program To A New High Of $25 Billion
Alibaba increased its share buyback plan to $25 billion on Tuesday, the e-commerce behemoth’s biggest buyback plan, to shore up its damaged stock as it battles regulatory oversight and fears about economic weakness. The plan comes when Chinese Vice Premier Liu He announced that Beijing will bring out further measures to strengthen the economy, as…
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China Shares Fluctuate As Investors Anticipates Policy Support Moves
On Monday, China stocks fluctuated between gains and losses as traders remained cautious after lenders kept borrowing charges steady. The CSI 300 Index fell 0.1 percent in the morning session, taking away a 0.5 percent gain earlier in the day. The market was pulled down by rate-sensitive financials and real estate developers. The Hang Seng…
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Value Of Oil Indices Falls Below $100 For The First Time In Weeks
Oil prices fell more than 6 percent on Tuesday, reaching their lowest point from over three weeks, after Russia warned it would allow the Iran nuclear agreement to be renewed, and traders were concerned that China’s pandemic lockdowns would stifle demand. The Brent and US crude both indexes dipped below $100 each barrel for the first…
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Bank Of England Expected To Raise Interest Rates For The Third Time
The Bank of England is expected to raise interest rates to 0.75 percent on Thursday, the third rise in a row, as it attempts to contain a significant rise in inflation caused by Russia’s invasion of Ukraine. A rate hike on March 17 would return cost of borrowing to where they had been before COVID-19 hit…
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Aluminum Prices On London Metal Exchange (LME) Soared Amid Fears Of Russian Supply
On Wednesday, London Metal Exchange (LME) aluminum costs hopped as much as 5.2 percent as the escalating war in eastern Europe and new sanctions against Russia, the main supplier, caused logistical problems and challenged to interrupt world supply. As of 0310 GMT, the three-month price of aluminum on the London Metal Exchange was up 2.3…