Usa Financial News

By David Randall

Investing.com — Apple (NASDAQ:AAPL) shares hug the flatline in premarket trading on Friday following a two-day skid sparked by reports that China is telling government officials not to use the California company's iPhone device for work. Elsewhere, two more Federal Reserve policymakers hint that the central bank may skip hiking interest rates at its September gathering, while U.S. Treasury Secretary Janet Yellen suggests that China's post-COVID economic woes may not have a «significant impact» on the United States.

global market atmosphere, domestic stock market indices the Sensex and the Nifty managed to close higher for the sixth consecutive session on Friday. Over the course of these six sessions, both indices have surged by nearly 3 per cent each, leading to a wealth gain of more than ₹11 lakh crore for investors. Market benchmark Sensex remained in the green for the entire session on Friday despite weakness in the global market.

Former FTX executive Ryan Salame pleaded guilty to criminal charges stemming from the collapse of the cryptocurrency exchange.

The US Commodity Futures Trading Commission brought enforcement actions against three decentralized finance firms and signaled that more may be coming. 

Mazagon Dock Shipbuilders share price rose 5.6%, Shipping Corporation of India share price surged 13%, Dredging Corporation Of India share price jumped 5.2%, Cochin Shipyard share price rose 9.8%, and Garden Reach Shipbuilders & Engineers share price surged 7.4% on BSE. The shipping stocks have been on a bull run on the strength of order wins, the Baltic Dry Index reaching over one-month highs on advances across vessel sectors, and most crucially, getting government approval for long-pending biggest order worth ₹19,000 crore for shipping companies.

Reliance Industries Limited on 8 September announced to partner with US-based chipmaker NVIDIA to advance artificial intelligence in India, Reliance said in a press release. The partnership is being done to boost India's artificial intelligence and semiconductor chip ambitions. Apart from this, the partnership will help develop an indigenous foundation large language model trained on the nation's diverse languages and tailored for generative Al applications.

HSBC Holdings Plc has made a u-turn on its dollar forecast, predicting the world’s reserve currency will now strengthen well into next year given weaker global economic prospects. 

Federal Reserve Bank of Dallas President Lorie Logan said that skipping an interest-rate hike at the US central bank’s upcoming policy meeting may be appropriate, while also signaling rates may have to rise further to get inflation back to 2%. 

RNEW’s board revealed it had recently approached another investment trust with a merger proposition, but this had been unsuccessful.

Nicholas Hyett, investment manager at Wealth Club, described the VCT’s mix of main market securities, fixed income investments, unquoted companies and AIM listed businesses as 'unusual'.

(Reuters) — Large swaths of the U.S. government could temporarily close on Oct. 1 if Congress does not approve spending bills due to a dispute between far-right Republicans and other lawmakers.

Global food prices resumed declines to the lowest in more than two years amid ample supplies of cooking oils and dairy, even as worries persist over flows of key staples from some regions. 

Reliance Industries has tied up with US-based chipmaker Nvidia to develop India’s own foundation large language model trained on the south Asian country's diverse languages and tailored for generative AI applications. In a statement, Nvidia said that it will work with Reliance to build AI infrastructure. The chip maker will provide access to its GH200 Grace Hopper Superchip and DGX Cloud. “As India advances from a country of data proliferation to creating technology infrastructure for widespread and accelerated growth, computing and technology super centres like the one we envisage with Nvidia will provide the catalytic growth just like Jio did to our nation’s digital march,” said Mukesh Ambani, chairman and managing director of Reliance Industries. Nvidia’s AI infrastructure will help Reliance build AI applications and services.

China's yuan finished the domestic session on Friday at its weakest since the global financial crisis, hit by capital outflow pressures as the economy struggles. A growing yield gap with other major economies, particularly the United States, has also put fresh pressure on the yuan and a number of other emerging currencies. The onshore yuan ended the domestic trading session at 7.3415 per dollar, its weakest close since Dec.26, 2007. The yuan, one of region's worst performing currencies, has lost 1.0% against the dollar so far this week and depreciated roughly 6.1% so far this year as the dollar climbed and China's post-pandemic recovery quickly lost steam. Analysts and traders expect the currency to face further selling pressure in the near term but expect losses will likely be measured. On Friday, the central bank again looked to be shoring up the currency by setting guidance through its daily fixing that was stronger than Reuters estimate. Prior to the market's opening, the People's Bank of China (PBOC) set the midpoint rate at 7.215 per U.S.

Joe Biden is en route to the G20 conference in New Delhi, India, where he is scheduled to hold discussions with Indian Prime Minister Narendra Modi and possibly meet with Saudi Crown Prince Mohammed bin Salman. The proposed multinational infrastructure deal holds significant strategic importance.

By David Lawder

TAIPEI (Reuters) — Taiwan's exports dropped for the 12th consecutive month in August but less sharply than expected, and may return to growth in September ahead of the year-end holiday shopping season, the finance ministry said on Friday.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

G20 summit, contributing to deteriorating relations. India has also strengthened its defence ties with the US by joining the Quadrilateral Security Dialogue with Japan and Australia, aimed at countering China's growing influence, reported Bloomberg. India, under Prime Minister Narendra Modi's leadership, is reportedly studying potential responses to a hypothetical Chinese invasion of Taiwan, according to senior Indian government officials.

A post shared by Kapil Dev (@therealkapildev) Speaking about Carlos Alcarez vs Alexander Zverev quarterfinal match, Alcaraz stormed into the semi-finals after winning a quarter-final battle 6-3, 6-2, 6-4 against the German player Zverev in New York on Thursday. The 20-year-old will now face 2021 US Open champion Daniil Medvedev in the semi-finals.