The Federal Reserve said on Thursday it was reviewing its ethics guidelines for how senior officials can participate in financial markets, after conflict-of-interest questions were raised over the investment activities of two regional presidents. Fed chair Jay Powell ordered the review late last week following reports that Robert Kaplan, president of the Dallas Fed, and
Month: September 2021
This month the thorny topic of debt is creeping back, belatedly, on to the political radar in Washington. Last week Janet Yellen, Treasury secretary, warned that the US government will run out of money in October unless Congress raises the debt ceiling (or borrowing limit). Meanwhile the Biden administration is facing opposition as it seeks
Traders on the floor of the New York Stock Exchange. Source: NYSE The land mines for the markets are becoming more numerous. Seasonal weakness is combining with continuing uncertainty over the impact of the delta variant on consumer behavior, high labor and material costs affecting pricing and delivery of goods, and poor data out of
MML Investor Services, the broker-dealer and RIA owned by insurer MassMutual, will pay $4 million and overhaul its social media practices after allegedly failing to supervise the online activities of Keith Gill, a former agent who, under the names “Roaring Kitty” and “DeepF***ingValue,” was a prominent leader of the so-called meme stock frenzy earlier this
Investment banking company Piper Sandler (PIPR) recently reiterated its Overweight rating on cryptocurrency exchange platform Coinbase (COIN) Piper Sandler also suggested that now was a good time to buy the recent dip on the company. I’m only slightly less bullish on Coinbase than Piper Sandler is. Coinbase stock is well off its high of $429.54,
In this article LVS WYNN BYND FSR DASH CSCO Check out the companies making headlines before the bell: Beyond Meat (BYND) — Shares of the alternative-meat maker dipped 2.4% in premarket trading after Piper Sandler downgraded the company to an underweight rating. “Beyond is an early leader in plant-based meat, but we believe its current
Sharing is Caring! Yesterday I explained how the official inflation statistic used by policymakers, the Consumer Price Index or CPI, is practically useless. I realize this is quite controversial. After all, everyone on the planet from hedge fund managers to social security administrators uses this data point as THE inflation measure. Unfortunately for them, CPI is
The European Securities and Markets Authority (ESMA) has published its report on trends, risks and vulnerabilities in the European Union markets during the first half of 2021 (1H21). Its takeaways included the argument that crypto markets’ extraordinary volatility and growth make a compelling case for the need for a targeted regulatory regime, as sketched out
A modernist masterpiece designed by Studio William Hefner is coming to market in Beverly Hills for $38 million. The property is located on Chalette Drive, one of the most exclusive streets in the Trousdale section of Beverly Hills, and is surrounded by expansive views extending from the city to the ocean. Hedges and gates conceal
Potential homebuyers exit an open house in Redondo Beach, California. Patrick T. Fallon | Bloomberg | Getty Images Fall is usually the start of the slower season for the housing market, but nothing is usual in today’s pandemic-driven housing market. Potential homebuyers are seeing a slight rise in inventory and consequently rushing back into the
While Africa is seen as one of the smallest cryptocurrency markets, according to a preview of Chainalysis’ Geography of Cryptocurrency annual report, this region has “some of the highest grassroots adoptions in the world.” African Volumes Mainly Composed of Retail Transfers The crypto adoption observation for Africa is corroborated by the blockchain analysis firm’s latest
The latest report from the U.S. Government Accountability Office (GAO) says 41% of 401(k) participants don’t believe they’re paying fees. This shouldn’t surprise anyone familiar with the retirement plan environment. “Employees are busy managing their day-to-day lives and don’t regularly review their 401(k) to be aware of 401(k) costs,” says Stuart Robertson, CEO of ShareBuilder
Municipals were little changed on light trading in the secondary again Wednesday as Illinois and Texas priced bonds in the primary and the Investment Company Institute reported another round of billion-dollar-plus inflows. The Investment Company Institute reported $1.325 billion of inflows for the week ending Sept. 8, following $1.804 billion of inflows the prior week,
Today Gold Price, Silver Price: Gold Rate and along with other precious metal prices in India on Thursday, Sep 16, 2021 Indian spot gold rate and silver price on Thursday, Sep 16, 2021 Gold Price and Silver Price Today. Here’s the latest update on spot gold prices, currency exchange rates and other precious metal rates
A great many essential components in America are on ‘indefinite back order’, including the lifestyle of endless globally sourced goodies at low, low prices… by Charles Hugh Smith via Of Two Minds A great many essential components in America are on ‘indefinite back order’, including the lifestyle of endless globally sourced goodies at low, low
L Brands Inc. (NYSE: LB) operated a specialty retail business focused on women’s intimate and other apparel, personal care, and beauty categories. Based in Ohio, the company was founded by Leslie “Les” Wexner in 1963. In 1982, L Brands, then known as The Limited Inc., was first listed on the New York Stock Exchange. Key
Acorns president David Hijirida Courtesy: Mo Osborne | Acorns Investing and savings app Acorns has hired a former Amazon executive and fintech CEO to lead day-to-day operations ahead of the start-up’s debut as a public company, CNBC has learned. The company is set to announce Wednesday that it named David Hijirida as president, according to
Taiwan and Japan have hailed the potential for a new security pact between Australia, the UK and US to offset an increasingly assertive China, even as France reacted with fury to Canberra’s cancellation of a $90bn submarine programme to agree the deal. The US allies said the new AUKUS partnership, under which Canberra will procure
Soaring gas prices have forced the closure of two fertiliser plants in the north of England in one of the first signs that a global supply crunch could force many energy-intensive industries to scale back activity this winter. New York-listed fertiliser group CF Industries Holdings is halting production at its plants in Billingham in Teesside and
When a billion-dollar practice wanted to leave Wells Fargo Advisors Financial Network, the firm’s custodian, First Clearing, suggested a Focus Financial Partners RIA that also uses its services. The M&A deal illustrates the trend toward succession-planning moves as advisors get older, as well as an unusual step taken by a giant custodian to avoid losing
Shares of Core & Main Inc. (CNM) rose marginally to close at $27.78 in extended trade on Wednesday after the company inked a deal to acquire all the assets of CES Industrial Piping Supply. The financial terms of the deal have been kept under wraps. Shares of the U.S.-based distributor of water, sewer and fire
In this article REGN MSFT LVS WYNN WEBR CNR-CA Check out the companies making headlines before the bell: Weber (WEBR) – The grill maker’s stock jumped 3.8% in the premarket, following its first quarterly report since going public in August. Weber’s sales rose 19% from a year earlier, and the company projected full-year sales largely
Australian cryptocurrency exchange BTC Markets has observed a significant uptick in older clients using its platform over the past financial year. More older Australians are viewing crypto assets as viable investments according to the data provided by one of the country’s oldest and largest exchanges. In its annual Investor Report, BTC Markets — which started
Elizabeth Sutton is one of today’s most popular contemporary artists. Her designs have been displayed everywhere from Bergdorf Goodman to Frette’s Madison Avenue flagship location, The Plaza Hotel, Saks Fifth Avenue in Brickell, Eden Rock in St. Barth, and even on Bravo’s Million Dollar Listing. You may have also seen her work in some unexpected
Determining the best way to ensure your financial security can seem overwhelming. For James and Michelle Bethe, deciding what to do with the $200,000 they had in savings had them at a standstill. As a teacher, Michelle, 36, has a pension for retirement and James, 38, has some money in a 401(k) plan. For Michelle,
At the U.S. Senate Banking Committee hearing Tuesday, Senator Elizabeth Warren called on the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, to increase oversight of cryptocurrency. She brought up several problems she associates with cryptocurrency that could hurt small investors. Senator Elizabeth Warren Says ‘There’s a Whole List of Problems With Crypto’
The Ways and Means Committee released the first draft of a major tax bill this week. While it is mostly aimed at increasing taxes to pay for other social policies and government infrastructure initiatives, there are a number of provisions that would change retirement planning. You can see a summary by the Ways and Means Committee here. Most of
Chicago Mayor Lori Lightfoot tapped San Antonio, Texas, school superintendent Pedro Martinez — a former Chicago Public Schools fiscal chief — to lead the district as fiscal and governance change looms. Lightfoot introduced Martinez as the new chief executive officer at a news conference Wednesday. Martinez is the first Latino to hold the CEO position
Silver prices continue to trade under pressure, but the price action is consolidative. The dollar moved lower despite a stronger than expected empire manufacturing survey released for September. There is very little that will likely come out ahead of next week that will change the tune of the Federal Reserve, which appears to be on
The recent bout of selling in the US markets prompted traders and investors to rethink their longer-term strategies… by Chris Vermeulen of The Technical Traders The recent bout of selling in the US markets prompted traders/investors to rethink their longer-term strategies. But our interpretation of this rotation was consistent with moderate price rotation that we’ve
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