Nigeria’s House of Representatives has moved a motion calling on the country’s central bank to end the continuing devaluation of the naira. In his unanimously adopted motion, House Representative Bamidele Salam warned the Central Bank of Nigeria (CBN) of the negative “implications of further devaluing the naira.” Lawmakers Slam CBN U-Turn The House’s warning follows
Month: June 2021
Leading cryptocurrency exchange Coinbase has partnered with small-time 401(k) plan provider ForUsAll to offer employees crypto exposure through their retirement plans. Employees of participating companies will be allowed to use a “crypto window” — similar to the brokerage window offered in many conventional 401(k)s — to invest up to 5% of their retirement funds in
Municipal bonds were mostly steady Thursday after a report showing an unexpectedly high increase in consumer prices pushed U.S. Treasuries and stocks higher. Yields on 10- and 30-year munis were firm on the AAA scales while the 10-year benchmark Treasury yield fell to 1.46%, its lowest level since March 4. For the 14th week in
(Kitco News) Gold is re-starting its bull rally, with the precious metal currently trading at a “steep discount” to crude oil, according to Bloomberg Intelligence. The $2,000 gold price target is currently a resistance level, but it will be breached due to the U.S. employment situation, said Bloomberg Intelligence senior commodity strategist Mike McGlone. “Gold
Are the US Banks actively covering their GROSS COMEX gold short position in order to bring the position down to NET neutral by July 1? by Craig Hemke via Sprott Money News If you’re a gold investor, then you’ve likely read of the NSFR of Basel III, which are due to be implemented by the
Last week, I made the mistake of being just about the only DeFi denizen who actually went to the Bitcoin 2021 event in Miami. While I managed to catch up with a handful of builders and big brains in the convention center, my time would have been better spent tracking down degens at the various
After dropping 4 to 5 basis points Tuesday, mortgage rates edged down another point yesterday. Averages for 15-year fixed and 30-year jumbo loans are now at their lowest level of the last seven weeks. National Averages of Lenders’ Best Rates Loan Type Purchase Refinance 30-Year Fixed 3.09% 3.30% FHA 30-Year Fixed 2.97% 3.16% Jumbo 30-Year
Reddit co-founder Alexis Ohanian told CNBC on Thursday that the meme stock frenzy — which traces its roots to the online forum website he helped create — is what happens when momentum investing is amplified by technology. “Really, the existence of people getting whipped up and excited about a stock has happened, you know, it’s
Klarna has boosted its valuation by 50 per cent to $45.6bn in just three months as the buy-now, pay-later company raised fresh capital from Japan’s SoftBank. The new valuation — up from $31bn in March and $11bn last September — cements the Swedish group’s status as Europe’s most valuable private fintech company. SoftBank’s Vision Fund
Carnival’s boss discussed the danger of coronavirus with executives at the start of last year and yet allowed the company’s cruise ships to continue sailing for another month leading to fatalities after outbreaks on board, US court documents have revealed. Lawyers representing more than 100 passengers on three Carnival cruises that were at sea during
At BNY Mellon Pershing’s annual INSITE conference, held virtually this week, the custodian revealed a new multi-custodial managed accounts software for financial advisors and an integration portal for software developers building fintech apps on the Pershing platform. On Tuesday, Pershing announced new multi-custodial managed accounts that will allow wealth management firms to oversee their business
Let’s take a moment to talk about opportunity, share price, and risk/reward considerations. These are some of the factors investors must consider when moving into penny stocks – and we haven’t even touched on the fundamental soundness of the company or its business model. Penny stocks – as their name suggests, they once traded for
Take a look at some of the biggest movers in the premarket: RH (RH) – RH surged 8.4% in premarket trading after it reported quarterly profit of $4.89 per share, above the $4.10 a share consensus estimate. The home furnishings retailer formerly-known as Restoration Hardware also reported better-than-expected revenue and raised its full-year outlook. Signet
Sharing is Caring! by: Stefan Gleason The S&P 500 moved to within a smidgen of a new record high earlier this week. Based on this benchmark stock market index’s recent performance, all seems well and good for risk assets. Underneath the surface, however, warning signs are flashing for investors in financial markets. Over the past
Flyhomes, a real estate startup that funds cash purchases, announced Wednesday that it raised $150 million in Series C funding, valuing the five-year-old business at more than $800 million, according to sources familiar with the matter. The Seattle-based company is capitalizing on a pandemic-fueled home-buying frenzy that has made cash offers a critical strategy for
Helen H. Richardson | Denver Post | Getty Images Homeowners are getting richer and richer as prices keep soaring – and the numbers are staggering. Those with mortgages — about 62% of all properties — saw their equity jump by 20% in the first quarter from a year earlier, according to CoreLogic. This represents a
El Salvador has begun exploring bitcoin mining using energy from its volcanoes, President Nayib Bukele has revealed. “Our engineers just informed me that they dug a new well that will provide approximately 95MW of 100% clean, 0 emissions geothermal energy from our volcanos,” he detailed. Bitcoin Mining Using Volcanoes’ Energy El Salvador President Nayib Bukele
In this new, post-pandemic, economic environment, I believe tax-efficient investing will be more important than ever. We’ve seen common loss-harvesting tactics, perhaps even the advanced idea of tax alpha, but frequently overlooked is the concept of tax location: where to put the assets to maximize after-tax return. With the upheaval in quicker-term investing (think meme
University of Chicago Chief Financial Officer Ivan Samstein is moving over to the hospital system to take the top fiscal post there at the end of the month. The appointment of Samstein, who left his position as Cook County’s CFO to take the top fiscal role at the university in 2017, will carry the title
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) -Gold and silver are trading flat leading into the European open. The yellow metal trades at $1887/oz while silver hovers around
There is no official source that is willing to discuss this because it is simply too alarming to the population… Dane Wigington interviewed on USA Watchdog by Greg Hunter About a month ago, climate engineering researcher Dane Wigington said the severe drought unfolding in the Western United States is only going to get worse. It
The Bank of France and the Swiss National Bank are teaming up with the Bank for International Settlements’ Innovation Hub to test a wholesale central bank digital currency (CBDC) system dubbed “Project Jura.” According to a release by the Bank of France on Thursday, the Project Jura pilot study will also draw participation from a
Inverse ETFs move in the opposite direction of major indexes like the S&P 500 or Dow Jones Industrial Average. By buying an inverse ETF, you can protect yourself and/or profit from a decline in the major indexes or bet on a bear market, as these ETFs will appreciate in value as markets decline. Traders who believe bear markets
A series of GEN1 satellites ready to head to a launch site. Kepler Communications Kepler Communications, a start-up that is building a satellite internet network for service outside of the Earth, raised $60 million in a new round to help the Toronto-based company grow, including an expansion in the U.S. “We’re not selling to businesses
China Three Gorges Renewables Group’s stock surged by 44 per cent on its debut after the company raised $3.6bn in China’s largest initial public offering of 2021. Shares in the renewable energy arm of China Three Gorges Corp, the state-owned company that lends its name to the hydropower dam on the Yangtze river, shot up
President Joe Biden’s brother James has abandoned a clean-energy project in the UK after a White House review for potential conflicts of interest. James Biden established an investment vehicle in May, with a UK corporate lawyer and two Argentine businessmen. But he ditched the plan just weeks later following a White House assessment under stringent
So much for trying to make amends with family. A multimillion-dollar battle has flared up again between a wealthy Florida grandmother and her two grandsons whom she accused of mishandling her money while working at J.P. Morgan Securities, a new court filing shows. Beverley Schottenstein, 94, the heir to a retail empire that grew to
The omni-channel, technology-driven furniture retailer, The Lovesac Company (LOVE), delivered blowout quarterly results driven by increased showroom sales, with all showrooms being fully operational in the reported quarter compared to COVID-19 related temporary closures in the prior-year period. Shares rose 2% to close at $83.42 on June 9. Earnings for the quarter stood at $0.13
In this article CLOV GME RH CLNE RIDE A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. Carlo Allegri | Reuters Check out the companies making headlines after the bell: RH — The company formerly known as Restoration Hardware saw its stock gain 6%
Sharing is Caring! by Michael Snyder In my entire lifetime, this is the worst that drought conditions have ever been in the western half of the country. During the past 20 years, the amount of territory in the West considered to be suffering from exceptional drought has never gone higher than 11 percent until now.
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