Author: Norchmarn Group

Donald Trump’s plan to slap punitive tariffs on Canadian imports will drive up prices for American motorists, oil producers warned, as the US president-elect’s threats hit global markets. Trump late on Monday proposed a 25 per cent tariff on all imports from Mexico and Canada, accusing the US’s closest neighbours of failing to tackle illegal migration and drug trafficking. Canada’s oil industry — which supplies more than half of US crude imports — would be among the industries hit hardest. Producers warned US consumers would feel the repercussions should imports slide and prices rise. Lisa Baiton, head of the Canadian Association of Petroleum…

Australia’s economy in 2024 has been marked by subdued GDP growth—the weakest outside the COVID-19 period—paired with persistently high inflation and elevated interest rates. However, prospects for 2025 suggest a cautiously optimistic recovery, driven by several supportive factors.One of the main drivers of this anticipated rebound is the expected easing of interest rates. Lower rates are likely to stimulate household spending and encourage business investments, laying a foundation for growth. Simultaneously, real household incomes are set to rise, helped by reduced inflationary pressures and targeted tax relief. These improvements, along with a recovering housing market, are expected to boost consumer…

Asian stock mostly rose on Friday following gains on Wall Street after market superstar Nvidia and other companies said they’re making even fatter profits than expected.U.S. futures climbed while geopolitical tensions pushed oil prices higher. On Thursday, President Vladimir Putin further escalated the war, announcing that Russia had fired a new intermediate-range ballistic missile at Ukraine in response to Kyiv’s use this week of American and British missiles capable of reaching deeper into Russia.Japan’s benchmark Nikkei 225 added 0.7% to 38,283.85 after the nation’s inflation rate slowed to 2.3% in October from 2.5% in the prior month, reaching its lowest…

London stocks rose in early trade on Friday as investors mulled an improvement in consumer confidence but a bigger-than-expected drop in retail sales. At 0830 GMT, the FTSE 100 was up 0.7% at 8,207.09 Data released earlier by the Office for National Statistics showed that retail sales fell more than expected in October amid uncertainty ahead of the Budget. Retail sales fell by 0.7% on the month following a 0.1% increase in September. Economists had been expecting a 0.3% decline. September’s gain was revised down from 0.3%. Non-food stores sales volumes fell by 1.4% in October following a 2.3% jump in September…

The Euro to Dollar exchange rate slumped to below 1.04 for the first time in two years, putting it on course for parity after the S&P Global Eurozone composite PMI fell to 48.1 in November from 50 in October.The market was expecting another reading of 50. A reading below 50 signals contraction for the Eurozone’s private sector.The Euro to Pound exchange rate fell a third of a per cent to 0.8297, giving a Pound to Euro conversion of 1.2050.”Things could hardly have turned out much worse,” says Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank. “The eurozone’s manufacturing sector…

Bitcoin came within 1% of $100,000 on Nov. 22 with bulls “chewing away” at final sell orders. BTC/USD 1-hour chart. Source: TradingView Bitcoin eats up last supply below $100,000 Data from Cointelegraph Markets Pro and TradingView confirmed the latest new Bitcoin price all-time highs near $99,500 on Bitstamp. After a brief dip below $96,000, BTC/USD rebounded into the Asia trading session to set up what could be a showdown with six figures. Commenting on the action, trader Skew predicted that a “violent breakout” may result once the price clears ask liquidity near the key $100,000 mark. “Still seeing limit bids moving higher with underlying…

One-third of managers offering remote work option during election week: surveyBusiness strategyRegardless of the outcome of the US presidential elections, 70% of managers in the United States are concerned that political tensions and conflicts in the workplace will escalate after the polls, according to a new survey.The survey, released by Resume Builder, surveyed 1,000 managers in the United States to determine the impact of election results in the workplace.Most managers (66%) believe that political tension and conflict will escalate regardless of the election outcome, according to the findings.Voters in the United States flock to polling stations on Nov. 5 to…

New division focuses on E&S risks, with plans for January product introductionHamilton Global Specialty, an underwriting division of Hamilton Insurance Group, has announced its entry into the US property insurance market through Hamilton Americas, its US managing agency.In addition to the new office, Lissie Van Leunen (pictured above) has been appointed as head of US property, reporting to Pepe Marquez, president of Hamilton Americas.Van Leunen, who joined Hamilton this month, is tasked with building a property insurance team and a portfolio focused on commercial excess and surplus (E&S) risks. The initiative aims to introduce new products by Jan. 1, 2025.Van…

Brokers must help bring innovation to the expanding marketAs companies seek to meet sustainability goals and align with global climate targets, carbon credits have emerged as an important tool to help them offset emissions.Carbon credits function as a form of “permission” to emit a certain amount of carbon dioxide, usually one metric ton per credit. Companies purchase these credits to offset emissions they cannot reduce through their operations, channelling funds into carbon-reduction projects such as reforestation or renewable energy installations.However, the carbon credit market is fraught with challenges, including questions of legitimacy. The insurance industry has stepped forward with innovative…