Stop-gap measures won’t help New York State’s fiscal condition long-term, a truth driven home by its first credit downgrade in 17 years, according to analysts. Moody’s Investors Service lowered its rating on New York’s general obligation bonds by one notch to Aa2 from Aa1 citing the state’s inaction in addressing budget gaps projected at $14.5
Month: October 2020
Introduction Today, we will take a look at the damage inflicted on this sector by the recent sell-off and try to ascertain just what lies ahead for the precious metals stocks involved in gold and silver mining. We will commence with look at the charts for gold and silver prices followed by a comparison of
Watching the network news on television or reading about current events in the newspapers seemingly transports one to an alternate universe where… by Philip Giraldi via Strategic Culture Foundation Watching the network news on television or reading about current events in the newspapers seemingly transports one to an alternate universe where nothing seems to make
11 months ago, the U.S. Food and Drug Administration (FDA) shut down Solid Biosciences’ (SLDB) “IGNITE DMD” Phase I/II clinical trial after one of the young patients involved in the trial suffered a “serious adverse event.” Despite the patient in question recovering, no new patients suffering such serious adverse events, and the company providing the
Take a look at some of the biggest movers in the premarket: Walmart (WMT) – The retailer announced the sale of its British supermarket chain Asda for $8.8 billion. The buying group consists of private equity firm TDR Capital and the Issa brothers, founders of gasoline station chain EG Group. Uber Technologies (UBER) – Private
BY JOHN RUBINO Money managers who don’t recommend gold to their clients are becoming the exception rather than the rule. This week saw a couple more big-name banks join the pro-gold parade: (RT) – The recent weakness of gold represents a “great entry point for investors” ahead of risk events such as the US election, said UBS Global
Joint tenancy is an arrangement that allows beneficiaries to access your account without having to go to court. Couples and business partners can take title to each other’s bank accounts, brokerage accounts, real estate, and personal property as joint tenants with rights of survivorship (JTWROS). KEY TAKEAWAYS Some of the main benefits of joint tenancy
The disclosure in the early hours of Friday morning that Donald Trump and his wife Melania had tested positive for coronavirus sent officials scrambling to find out who else in the president’s circle may have been infected. Hours earlier, Hope Hicks, a close aide, received a positive result, having come down with Covid-19 symptoms on
The White House doctor overseeing Donald Trump’s treatment at Walter Reed hospital sowed confusion about his health by suggesting the president had contracted Covid-19 on Wednesday, earlier than thought. Sean Conley, the White House physician, also said that he was “extremely happy” with the progress that the president had made since being admitted to the
Raymond James is reorganizing its custody division and modifying its marketing strategy amid a year of big changes in the custodial marketplace. The St. Petersburg, Florida-based firm will consolidate its two custody divisions into one unit, the RIA & Custody Services Division, which services broker-dealers and hybrid RIAs as well as standalone independent advisory firms,
This year has been a strong one for digital asset markets, highlighted by growing institutional inflows and a propitious shift in the regulatory environment. Witness the U.S. Securities Exchange Commission’s September letter that says crypto exchanges that comply with SEC Rule 15c3-3 (the Customer Protection Rule) are free to trade digital asset securities. With more
getty In every great action movie, there’s a ticking-time-bomb element. If mortgage lending were an action movie, then rates are the time bomb. Since there’s no telling when rates will rise again, each week borrowers are either granted another chance to lock in a new low rate or the bomb blows and rates rise, destroying
kali9 | E+ | Getty Images If you’re retired and are thinking about downsizing or relocating, and it involves buying a home, you might want to look into how you would finance it. You may discover that qualifying for a mortgage is different from the last time you bought a house. Not only have lenders
Zimbabwe Stock Exchange (ZSE) CEO Justin Bgoni says its recently licensed subsidiary, the Victoria Falls Stock Exchange is open to listing bitcoin and other cryptocurrencies. However, according to local media reports, any such listings are still dependent on the digital asset issuers getting “regulatory approval.” The report does not provide any details of requirements that
Read my previous articles on FIA Interest Crediting Methods including point-to-point and participation rate. Another method for increasing the participation rate without introducing a cap is to add a spread to the FIA interest-crediting formula. Continuing with our same simple example in which we found a 56 percent participation rate, suppose the insurance company could
A candidate widely seen as less friendly to municipal bondholders has risen rapidly in the race to be Puerto Rico’s next governor. On Wednesday the El Nuevo Día news web site released a poll showing 37% of voters giving Popular Democratic Party candidate Charlie Delgado Altieri their support and 38% of them giving New Progressive
Canada Silver Cobalt Works Inc. announces it has granted stock options to its directors and officers to purchase an aggregate of 300,000 common shares in the capital of the Company. The stock options are exercisable for a term of two years at an exercise price of $0.50 per share. All stock options are granted in accordance
Staying ahead of the government printing press is the modern citizen’s constant worry. There are no hard money central bankers, let alone… by Doug French via Mises Trying to stay ahead of the government printing press is the modern citizen’s constant worry. There are no hard money central bankers, let alone politicians. Central bankers have
It is hard to argue with Amazon’s (AMZN) performance in 2020. Even amidst a global pandemic and a struggling economy, all the cards have fallen into place for the e-commerce behemoth. Amazon has seen revenue soar during the viral outbreak and so has its stock. Shares are up by 70% on a year-to-date basis. However,
Check out the companies making headlines in midday trading. Twilio — shares of the cloud services company jumped 12% to a new all-time high after Twilio raised its forecast for third quarter revenue. The company said it is benefitting from the rise of remote work and education. Twilio is set to release its quarterly results
For much of the 20th Century, the Soviet Union rivaled the United States in political, military and economic strength. While the central command economy of the Soviet Union was diametrically opposed to the market liberalism of Western nations, the rapid economic development that the Soviets posted in the middle decades of the century made their
Private equity managers are turning to specialist borrowing facilities to ensure their highly leveraged strategies can survive the coronavirus pandemic, but there are growing concerns that the use of these complex financing deals poses new threats to investors. Demand for additional financing globally has shot up during the health crisis as private equity managers battle
Allbirds, the wool shoe brand that closed a $100m fundraising round this week, is backing bricks-and-mortar stores in spite of the pandemic. The new funding — which gives Allbirds a $1.7bn valuation — will partly support physical expansion in markets outside the US as well as increasing headcount, according to the company’s co-founder Joey Zwillinger.
The world’s largest debt market may not be as sleepy as it seems. One of the best-known measures of volatility in Treasuries — an ICE Bank of America gauge that’s calculated using one-month options — is about as low as it’s ever been since its launch in the 1980s. The Federal Reserve has a lot
Thanks to regulatory uncertainty from the United States Securities and Exchange Commission and a hodgepodge of state licensing requirements, the development of crypto trading in the U.S. remains stuck in the backwaters of trading reserved for Over-the-Counter Bulletin Board issues. In order to ensure the continued and healthy growth of digital asset markets, it is
More young consumers are enjoying their time at home. getty A new report by youth marketing experts YPulse titled “No Place Like Home” provides significant new insights on how the Covid pandemic has changed how Gen Z and Millennials view the homes. The following statement summarizes key findings: “As young people look to their spaces
Coinbase is handing over customer data to the British tax authority, Her Majesty’s Revenue & Customs (HMRC). The measure affects customers with a U.K. address who received more than £5,000 ($6,450) worth of cryptocurrency during the 2019/20 tax year. On Oct. 2, Coinbase sent an email to its U.K. users advising them that it will
Supreme Court Will Review Entire Affordable Care Act Immediately After The Election getty Ending the Affordable Care Act (ACA) will be a case of Robin Hood in reverse – taking from the most vulnerable families to give the wealthiest Americans a massive financial windfall. This could soon become reality if the Supreme Court sides with
The largest health systems in Illinois, Wisconsin, and Michigan cancelled plans to pursue a merger, they announced Friday. Illinois-based Advocate Aurora Health — created with the 2018 merger of Advocate which was Illinois largest system and Aurora which was Wisconsin’s largest — and Michigan-based Beaumont Health had signed non-binding letter of intent to join forces
Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – With all the election turmoil going on in the U.S. I need to say that I have never been so happy to
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