Dear followers everywhere, welcome to a new global tour of the financial, business, corporate and energy markets around the world and everything new for today, Tuesday, December 10, 2024… coming to you from Banker.
Starting from the United States and a shocking report about high inflation rates 7 months ago
Consumer prices in the United States recorded the largest rise in seven months in November, but this is unlikely to prevent the Federal Reserve (the US central bank) from cutting interest rates again next week against the backdrop of a slowdown in the labor market.
The Labor Department said on Wednesday that the consumer price index rose 0.3% last month, the largest increase since April after the increase remained at 0.2% for four consecutive months.
During the 12 months through November, the index rose 2.7% after rising 2.6% in October.
We are still in the United States and Biden warns against Trump’s economic plans
Outgoing US President Joe Biden on Tuesday described the economic plans of his successor, Donald Trump, as a “disaster,” praising the legacy of his Democratic administration after four years in the White House.
Biden said that Trump’s threat to impose huge tariffs on imports is a “terrible mistake” and urged Republicans to abandon the proposed tax cuts.
And to the gold markets, where the prices of the yellow metal stabilized near its highest level in two weeks, as it supported the tense geopolitical developments and expectations that the Federal Reserve will make another cut in interest rates during the next week, as well as investors waiting for the upcoming US inflation report.
Gold settled at $2,691.57 per ounce, reaching its highest levels since November 25 earlier in the session.
The next news in our global tour from the Kingdom of Saudi Arabia, and the Public Investment Fund is close to acquiring a 6% stake in the PGA Golf Association..
Informed sources told Bloomberg that the Saudi Public Investment Fund is in advanced talks to acquire a 6% stake in the commercial arm of the Professional Golfers Association at a valuation of about $12 billion.
This potential deal follows a previous agreement with Strategic Sports Group to invest up to $3 billion in the PGA.
The next news in our global review is from El Salvador, which rests on untapped wealth worth $3 trillion
A report said that El Salvador, which was the first country in the world to ban metal mining, may waste enormous economic wealth due to its huge untapped gold reserves, according to what its president, Nayib Bukela, said.
In a speech this week, Bukele noted that El Salvador has unmined gold reserves worth an estimated $3 trillion, equivalent to more than 8,800% of the country’s current gross domestic product.
The latest news in our global tour of the world of digital advertising, whose revenues have exceeded one trillion dollars
A recent study said that in light of the rapid development of the world of digital advertising, global advertising revenues are heading towards achieving a qualitative leap, expected to exceed the trillion dollar barrier during the next year.
According to the study, this achievement reflects the radical transformations in marketing strategies and companies’ orientation towards major technology platforms that dominate the market.
She pointed out that digital advertising has become the main driver of the sector’s growth, driven by the continuous expansion of artificial intelligence and graphic analysis technologies, which allows for more accurate targeting of the audience and greater effectiveness of campaigns.
