- BofA analyst Muneeba Kayani downgraded ZIM Integrated Shipping Services Ltd (NYSE:ZIM) to Underperform from Buy and lowered the price target to $40 (a downside of 8%) from $79.
- The analyst revealed concerns over weaker U.S. demand.
- Kayani states that large U.S. retailers have signaled to weaken spending on goods and excess inventories, and this, along with congestion unwind at U.S. ports, could result in a notable correction in ocean spot rates.
- Price Action: ZIM shares are trading lower by 7.69% at $43.59 on the last check Friday.
G20 Seeks To Create A Consensus On Policies Regarding Digital Assets, Says India’s Economic Affairs Secretary
India’s Federal Economic Affairs Secretary Ajay Seth said that the Group of 20 (G20) nations are working to develop a policy consensus on crypto assets to guide better global regulation.
The first gathering of the central bank and finance deputies for the G20 is Dec. 13–15 in Bengaluru, India.
