Latest news with #US-specific
Yahoo
6 days ago
- Business
- Yahoo
Temenos Named Best Core Banking System at Banking Tech Awards USA
Prestigious industry award recognizes Temenos' US banking capabilities and innovation GRAND-LANCY, Switzerland, June 02, 2025 (GLOBE NEWSWIRE) -- Temenos (SIX: TEMN), a global leader in banking technology, today announced it has received the award for Best Core Banking System at the Banking Tech Awards USA 2025. These prestigious industry awards recognize the cutting-edge innovations and outstanding achievements driving the future of banking technology across the United States. With its best-of-suite core banking and modular core solutions, Temenos offers US financial institutions choice, flexibility and a proven path to banking modernization – all underpinned with cloud-native architecture, and embedded AI. Trusted by over 950 banks around the world, Temenos' core banking software can be deployed on-premises, in the cloud, or as SaaS. US financial institutions using Temenos also benefit from robust regionalization, pre-configured banking capabilities for the US market, and a Model Bank framework which enables faster, more cost-efficient implementation. Rodrigo Silva, President Americas, Temenos, commented: 'Winning this major award demonstrates the strength and depth of Temenos' US banking capabilities, as well as our continued investment in this strategic growth market, which is helping to drive innovation in the US banking industry. With its advanced functionality, US-specific capabilities and flexible deployment options, Temenos is a compelling choice for US financial institutions.' Temenos has further strengthened its commitment to innovation for the US market with the announcement of a new Innovation Hub in Central Florida. This modern, collaborative space will be home to around 200 technology and product developers, enabling co-innovation with US financial institutions and fueling cutting-edge research and development for US-specific solutions. Investing around 20% of revenues in R&D, Temenos continues to enhance its core banking suite. Recent innovations include the launch of a Gen AI Copilot to help financial institutions design, launch, test and optimize financial products faster. The tool makes it easier for banking employees to access the full breadth of Temenos' core banking functionality in a simple, conversational way. This builds on Temenos' existing leadership in AI, with its launch of the first Responsible Generative AI solutions for core banking in 2024. Temenos was also named a Leader in the IDC MarketScape for North America Digital Core Banking Platforms 2024 Vendor Assessment and in the The Forrester Wave™: Digital Banking Processing Platforms, Q4 2024. CONTACT: Scott Rowe Temenos + 44 (0) 20 7423 3857 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
Goldman Sachs says new risks are breaking old market patterns. 3 portfolio moves could help avoid the fallout.
Markets are volatile, with stocks, bonds, and currencies defying historical patterns. Investor concerns include trade wars, tariffs, bond market issues, and US debt sustainability. Goldman Sachs suggests hedging with gold and positioning for dollar weakness against major currencies. Markets have turned turbulent in recent months amid a wave of new risks that disrupt long-held relationships among stocks, bonds, and currencies. "Recent episodes of simultaneous equity, bond, and dollar declines within that period, especially since early April, have led investors to question whether cross-asset correlations have shifted," wrote Vickie Chang, a macro strategist at Goldman Sachs, on Thursday. Investor sentiment has been shaken by President Donald Trump's trade war and concerns over import tariffs, bond market dysfunction, the Federal Reserve's independence, and US debt sustainability. One of the most striking developments is the decline of US stocks, bonds, and the dollar all at once in what some are calling the "Sell America" trade. This is unusual because bonds typically serve as a cushion when stocks drop, while the dollar tends to strengthen in times of market stress. But the US Dollar Index has already dropped about 8% this year. This is challenging commonly used hedges and typical portfolio strategies, wrote Chang. Chang pointed out "newer worries" about the structural risks of Federal Reserve independence and fiscal sustainability in the US that are shaking up normal market patterns. If these concerns persist, asset correlations could stay off-kilter. Investors should consider three moves to hedge the implications of the fallout from the unusual market movements, she wrote: Position for dollar weakness: especially against the euro, the Japanese yen, and the Swiss franc, to protect against new risks and against US-specific growth worries. Consider buying gold: It's likely to protect against newer structural risks, Chang wrote. Gold is trading around $3,300 an ounce. Goldman Sachs expects the yellow metal to reach $3,700 an ounce by year-end and $4,000 an ounce by mid-2026. Watch risks from longer-dated bonds: Long-dated bonds might not reduce risk as much as they normally do. If concerns about the Fed's independence and US debt hit bond prices, these risks would hurt long-dated bonds harder than shorter-dated ones. Meanwhile, shorter-dated bond yields should protect against equity downside if the market registers clear concerns about economic growth, Chang wrote. She added that the Fed would cut interest rates if the growth outlook weakens materially. Read the original article on Business Insider Sign in to access your portfolio
Business Insider
30-05-2025
- Business
- Business Insider
Goldman Sachs says new risks are breaking old market patterns. 3 portfolio moves could help avoid the fallout.
Markets have turned turbulent in recent months amid a wave of new risks that disrupt long-held relationships among stocks, bonds, and currencies. "Recent episodes of simultaneous equity, bond, and dollar declines within that period, especially since early April, have led investors to question whether cross-asset correlations have shifted," wrote Vickie Chang, a macro strategist at Goldman Sachs, on Thursday. Investor sentiment has been shaken by President Donald Trump's trade war and concerns over import tariffs, bond market dysfunction, the Federal Reserve's independence, and US debt sustainability. One of the most striking developments is the decline of US stocks, bonds, and the dollar all at once in what some are calling the "Sell America" trade. This is unusual because bonds typically serve as a cushion when stocks drop, while the dollar tends to strengthen in times of market stress. But the US Dollar Index has already dropped about 8% this year. This is challenging commonly used hedges and typical portfolio strategies, wrote Chang. Chang pointed out "newer worries" about the structural risks of Federal Reserve independence and fiscal sustainability in the US that are shaking up normal market patterns. If these concerns persist, asset correlations could stay off-kilter. Investors should consider three moves to hedge the implications of the fallout from the unusual market movements, she wrote: Position for dollar weakness: especially against the euro, the Japanese yen, and the Swiss franc, to protect against new risks and against US-specific growth worries. Consider buying gold: It's likely to protect against newer structural risks, Chang wrote. Gold is trading around $3,300 an ounce. Goldman Sachs expects the yellow metal to reach $3,700 an ounce by year-end and $4,000 an ounce by mid-2026. Watch risks from longer-dated bonds: Long-dated bonds might not reduce risk as much as they normally do. If concerns about the Fed's independence and US debt hit bond prices, these risks would hurt long-dated bonds harder than shorter-dated ones. Meanwhile, shorter-dated bond yields should protect against equity downside if the market registers clear concerns about economic growth, Chang wrote. She added that the Fed would cut interest rates if the growth outlook weakens materially.
RTÉ News
12-05-2025
- Business
- RTÉ News
What have China and the US agreed to in Geneva?
China and the US announced a truce in their trade war today after talks in Geneva that will roll back the bulk of tariffs and other countermeasures by Wednesday. The US is dropping the extra tariffs it imposed on China this year to 30% from 145%, while China is cutting them to 10% from 125%. Tariffs imposed before April 2, including those dating back to US President Donald Trump's first term, and other restrictions, such as the US measures to end low-value package tariff exemptions, known as the "de minimis" rule, appear to remain. Tariffs are coming down, but unevenly and not to zero The US has agreed to adjust or remove three executive orders, which collectively put 115% tariffs on imports from China. Washington agreed to drop its so-called "Liberation Day" tariffs from 34% to 10% for 90 days, and remove all tariffs imposed during the tit-for-tat escalation that followed. China has matched the de-escalation, removing all but 10% of the tariffs imposed since April 2, leaving the current rate at 10%. However, that leaves China still facing a 30% tariff once duties imposed before April 2 are counted, including the two rounds of fentanyl tariffs imposed in February and March. Chinese products ranging from electric vehicles, steel and aluminium will also still face separate tariffs imposed over the past several years. Some non-tariff barriers paused China also committed to removing non-tariff countermeasures imposed against the US since April 2, although it remains unclear how some of these measures will be walked back. As part of its retaliation in April, China added rare earths to its controlled export list, opened an anti-dumping probe into chemical firm DuPont's China business and blacklisted some US defence and tech firms. The wording of the agreement suggests those firms will be removed from the list, which barred trade and investment with China and the anti-dumping probe shelved. The statement only said countermeasures imposed after April 2 will be removed, which would therefore not include a dozen companies blacklisted in March, and the anti-dumping investigation into Google announced in February. DuPont did not immediately respond to a request for comment. Questions remain over rare earths In the case of rare earths, because China's decision applied to all countries, it is unclear whether it will count as a US-specific countermeasure under the agreement. There is no mention of the US in the original Ministry of Commerce announcement, which required all exporters to seek licenses before shipping seven types of rare earths. Reuters reported last month that US clients were likely to face a long and uncertain wait for licenses given the trade war. China's Ministry of Commerce did not immediately respond to questions about the rare earths restrictions.
India Today
12-05-2025
- Politics
- India Today
Mexico drags Google to court over renaming of Gulf of Mexico in Maps
Mexico is suing global search engine giant Google over the controversial renaming of the 'Gulf of Mexico' to 'Gulf of America' on Google Maps for users within the United States, President Claudia Sheinbaum announced on began after Donald Trump signed an executive order directing federal agencies to change the body of water's name to the Gulf of America shortly after taking charge as US President. Google was amongst the first few companies to quickly comply with the order by updating its widely used Maps service to reflect the the update, the Gulf of Mexico is shown as the Gulf of America to Google Maps users in the US. For users in Mexico, it is – still – the Gulf of Mexico. And for anybody outside the US and Mexico – like, for instance, for someone in India – Google has labelled it as the Gulf of Mexico (Gulf of America). President Sheinbaum lashed out at the move during a press briefing, saying no single country can rename a body of water with international borders unilaterally. 'We couldn't say anything about changing the name of a state, a mountain, or a lake within the US,' she said. 'So, the part of their territory that corresponds to them can be called whatever they decide. But the part that corresponds to Mexico [or Cuba] cannot be renamed.'advertisementThe US and Mexico share the coastlines along the Gulf. The maritime boundary is reportedly set at the centre of the Rio Grande and is a fixed line. Emphasising that the Gulf of Mexico is of 'international attribution,' President Sheinbaum said the legal action aims to ensure respect for territorial and geographic sovereignty is government had previously warned Google that it would drag the company to court if it did not reverse the decision. All requests were denied, with Google's Vice President of Government Affairs and Public Policy, Cris Turner, claiming the company was only following 'longstanding maps policies impartially and consistently.'The Mexican government argues that Google's compliance with a US-specific executive order should not extend to international waters or influence mapping in foreign the US House of Representatives has passed a bill (with a firm majority) to formally adopt the 'Gulf of America' name, reinforcing the executive order and instructing all federal agencies to update their maps Google, Apple has also made changes to its competing Maps platform, though it is not known if Mexico plans to sue the iPhone-maker as well at this point in time. Some mapping services such as MapQuest have resisted making the suggested changes so of the legal complaint filed by Mexico have not been revealed at the time of writing.
