Shareholders in Toshiba have prolonged “instability and uncertainty” at the troubled conglomerate with their shock vote to remove the chair of the company’s board, said a director who saw no choice but to resign following last Friday’s investor revolt. In exclusive remarks made to the Financial Times following his sudden resignation on Friday, George Olcott
Month: June 2021
Citigroup is taking another step into the world of cryptocurrencies. The Wall Street giant will help its richest clients bet on crypto as part of a new digital assets group inside Citigroup’s burgeoning wealth management unit, according to a memo to staff seen by Bloomberg News. The new effort will be led by Alex Kriete,
U.S. stocks rebounded more than 2% across the board last week, returning to record highs. Energy and Financial names led the way higher, buoyed by the outlook for a continued cyclical recovery in the second half of 2021. Bank stocks benefited from a strong showing in the Fed’s latest stress test on Thursday. President Biden
Another month, another explosive rise in home prices. May’s median annual housing price rose 23.6%, a new monthly record. Buyers are still buying, helped by low interest and mortgage rates. But since housing construction hasn’t kept pace with demand and economic growth, it will take more housing production to reduce long-term pressure on prices. The buying pressure in housing
Iranian authorities have so far authorized 30 facilities for cryptocurrency mining. The crypto mining farms are spread across several regions, including Tehran Province. The government has put out the data amid a crackdown on illegal miners in the country. A Third of Authorized Mining Farms Are Based in Two Provinces The Iranian Ministry of Industries,
We are a few weeks away from the arrival of advance Child Tax Credit (CTC) payments (July 15). If your family is potentially eligible for the payments, you might have already received a letter from IRS about the CTC. To guide you, here are the answers to five important questions to ask. ADVERTISEMENT 1. How
Municipal securities dealer groups said Friday they are opposed to the creation of a $20 billion Infrastructure Financing Authority as part of a $1.2 trillion bipartisan infrastructure framework announced Thursday. Other public finance groups have varying positions. National Association of Counties spokesman Paul Guequierre said in an email, “Counties support federal investments in infrastructure using
[embedded content] While Bitcoin is still digital gold, some of the most innovative developments in the crypto space are happening in Ethereum and DeFi said Jason Urban, co-head of Galaxy Digital Trading at Galaxy Digital. Galaxy Digital is a multi-functional financial services firm founded by Michael Novogratz, with operations in investment banking, trading, asset management,
If there is to be a big change in gold pricing, it likely will have the same sort of… by Chris Powell of the Gold Anti-Trust Action Committee (GATA) Dear Friend of GATA and Gold: Many people involved with the monetary metals may be eagerly awaiting Monday, when the “Basel 3” regulations on unallocated gold
Real-world use cases and delivered value are important when evaluating the long-term prospects of a cryptocurrency project, and this is especially true in down markets when sentiment is low and the possibility of an extended bear market is a reality. One project that has been gaining momentum over the past month despite the market-wide downturn
The consumer price index (CPI) is a measure of the average change over time in the prices paid by consumers in urban households for a basket of goods and services. These goods and services are broken into eight major groups: food and beverages, housing, apparel, transportation, medical care, recreation, education, and communication. The CPI is
Johnson and Johnson has agreed a $230m settlement with the state of New York to resolve claims it helped fuel the prescription painkiller epidemic. The company, which made a fentanyl patch and a pill, denied any wrongdoing but said it would “provide New York . . . with up to $263m in funding to address opioid related issues, as
Matt Hancock, the minister charged with fighting Britain’s biggest postwar health crisis, quit on Saturday night in the face of fierce criticism of his relationship with an adviser whom he put on the public payroll. He will be replaced as health secretary by Sajid Javid, the former chancellor, who is making a comeback after his
Clients needed grit and perseverance last year as they whipsawed through a pandemic, a market crash, a record-setting rebound and massive government stimulus. This year may require that they summon up the same qualities to face a much-altered investing environment. Investors are gradually emerging from a COVID-19 world into what could be an optimistic time
Sharing is Caring! From Birch Gold Group This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: The best time to buy gold is before a crisis, how the Basel III agreement could impact short- and long-term gold prices, and finding a balance between gold and
Horse ranches, expansive estates, premier vineyards, and boutique wineries define California’s Santa Ynez Valley. Located over the San Marcos Pass about 26 miles from downtown Santa Barbara, the rolling hillside landscapes of the region are dotted with vineyards, olive trees, Scrub oak, and early California-style architecture under impossibly blue skies. A population of around 23,000
Getty Images Amid the recent real estate bull market, one fact has been often overlooked: More than half of home ownership growth over the past decade has come from the Latino population. That trend is expected to continue. A study by the Urban Institute forecasts Latino buyers will comprise 70% of home ownership growth from
Just before the Financial Action Task Force (FATF) published the organization’s 12-month review, a working group called the Travel Rule Protocol (TRP) released its 2.0 version of the TRP crypto application programming interface (API) in order to “simplify the end-user crypto exchange experience.” TRP is backed by big banks like Fidelity Investments, Standard Chartered, and
By Chaya Milchtein, Next Avenue Car insurance rates rose by a stunning 16.9% in May, overall, after going up 6.4% in April, according to the Consumer Price Index. So, this is an apt time to look for ways to save money on your auto insurance premiums. And if you’ve been driving less lately, due to working remotely
Puerto Rico’s government may soon adopt a 24% increase in the island’s minimum wage, with local observers saying it would raise costs for businesses and actually cut employment participation. On Tuesday the Puerto Rico Senate approved a bill raising the minimum wage to $9 per hour from the federal $7.25 per hour. The Puerto Rico
[embedded content] (Kitco News) After an unexpected selloff last week, gold is busy building support. But the $1,800 level is proving to be a struggle. Here’s a look at Kitco’s top three stories of the week: 3. The Yellen-Powell duo keeps the markets on their toes as they talk down the Federal Reserve’s hawkish June
Prices are rising very aggressively all around us. But Federal Reserve Chair Jerome Powell and other leaders in Washington are trying to… by Michael Snyder of The Economic Collapse Blog They would like us to believe that what we can see happening right in front of our eyes is not actually real. Over the past
Although the price of Bitcoin (BTC) continues to hover around $30,000, industry experts are noting that there is a bullish long-term view. To put this into perspective, Alex Mashinsky, chief executive officer and co-founder of Celsius – the centralized cryptocurrency lending platform – told Cointelegraph at Bitcoin 2021 in Miami that he sees Bitcoin reaching
The acquisition of Scottrade was completed by brokerage firm TD Ameritrade on September 18, 2017. Scottrade was an online brokerage firm that served more than 3 million accounts in the U.S. and had $170 billion in assets under management. Founded in 1980 by Rodger O. Riney, the firm had about 500 branch offices throughout the
It has been a terrible few weeks for Mexico City mayor Claudia Sheinbaum: just as the capital was getting one of the world’s worst Covid-19 outbreaks under control, a metro overpass collapsed in early May, killing 26. Then, a month later, the opposition seized more than half the city’s boroughs in midterm elections, including Tlalpan,
Way of the Argosiby Sebastien de Castell, Hot Key Books £14.99 De Castell returns to his witty Spellslinger series with a prequel featuring one of its most alluring characters, the enigmatic Ferius Parfax. It means we won’t be meeting the series’ downbeat hero, Kellen, or his squirrel cat sidekick, but Ferius’s passage from oppressed girlhood
I moved to New York City a decade ago at the tender age of 22. I worked three jobs that first year to make ends meet and didn’t earn more than $25,000. I remember thinking, “If I could make $80,000, I could really enjoy living in this city.” By 2016, I was earning $80,000 a
Microsoft (MSFT) stock has been hitting new all-time highs this week. The tech giant has also clocked another landmark achievement, becoming the second company apart from Apple to reach a market cap exceeding $2 trillion. However, where Apple’s performance year-to-date has underwhelmed, Microsoft’s display has been typically sure-footed. It’s a big milestone week which also
Sharing is Caring! Via International Man International Man: What personal and psychological blind spots and limitations should a speculator be wary of? Doug Casey: There is no question that your biggest enemy in the markets is your own psychology. Everybody suffers from fear when the market is down and greed when the market is up.
The following article, written by two outstanding economists, Marian Tupy and Gale Pooley, employs a novel and highly illuminating way of examining the cost and affordability of housing today versus 40 years ago. On the surface, it looks like the median price of a house today has skyrocketed, putting it out of reach for people
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