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Logitech Quarter Sales Fall 22%

Logitech International, a manufacturer of computer peripherals, reported on Tuesday that third-quarter sales were down 22%, confirming its preliminary findings that business customers had held off on purchasing new equipment due to slowdown concerns.

During COVID-19 lockdowns, the company experienced bolstered demand for its home office products and gaming computers, but as countries lift the restrictions and high inflation drives up prices and discourages consumers from spending, the trend has been waning.

MACROECONOMIC DATA ANALYSIS

The local stock market in South Korea will be freed from a number of restrictions by the end of the current year, the country's financial watchdog announced on Tuesday, in an effort to attract more capital to the market. The Financial Services Commission stated in a statement that there is a significant gap between the regulations currently in place and the standards used around the world. The commission promised to "boldly improve regulations that have prevented foreign investors from investing in our market."

As the Caribbean nation struggles with widespread shortages and a humanitarian crisis, the IMF executive board approved $105 million to assist Haiti in addressing its severe food insecurity, the organization stated on Monday. According to a statement from the IMF, the payment made through the Food Shock Window program is intended to address "urgent balance of payment needs related to the global food crisis."

CURRENCIES

The US dollar was weaker on Tuesday morning, hovering near a nine-month low against the euro and giving up recent gains against the yen as traders assessed the risks of a US recession and the path of Federal Reserve policy. The dollar index which measures the value of the greenback against a basket of six other currencies fell by 0.27% to 101.640.

GOLD

Gold prices soared on Tuesday as the dollar fell, with bullion's near-term trajectory likely dependent on US economic data due this week that could influence the Federal Reserve's interest rate strategy. Gold futures rose by 0.50% to $1,938 per ounce.

OIL

Crude oil prices tumbled in Asian trade in Tuesday’s early hours despite hopes of a recovery in fuel demand from top importer China, as concerns about a slowing US economy. Brent crude futures slipped by 0.23% to $87.99 a barrel, while the West Texas Intermediate slid by 0.09% to $81.55 a barrel.

INDICES        

USA: S&P500 +1.19%, Dow Jones Industrial Average +0.76%, Nasdaq Composite +2.18%

Europe: FTSE 100 +0.18%, DAX +0.46%, CAC 40 +0.52%

Asia: Nikkei 225 +1.46%, Hang Seng +1.82%, CSI 300 +0.61%, Nifty 50 +0.05%

Newest

Intel "Historic Collapse" Slashes $8 billion in Market Value

About $8 billion of Intel’s market value was lost on Friday as a result of the American chipmaker's gloomy earnings forecasts, which stoked concerns about a downturn in the personal computer market.

The business also struggled with slowing growth in the data center industry, which contributed to its first-quarter surprise loss forecast and $3 billion below-estimated revenue forecast.

Morgan Stanley Fines Employees For Messaging Breaches

Morgan Stanley has fined employees who use messaging apps like WhatsApp and others for work-related communications, the Financial Times reported on Thursday. The fines, which ranged from a few thousand dollars to over $1 million per employee, were established by taking into account various elements, including the quantity of messages sent, seniority, and whether or not they had previously been warned.

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