Susan Collins officially took office Friday as the president of the Federal Reserve Bank of Boston, making history in becoming the first Black woman to lead a regional Fed bank. Collins comes from the University of Michigan, where she worked for 15 years, serving most recently as provost and previously as dean of the Gerald
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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) – The National Institute of Statistics and Informatics of Peru (INEI) announced today that the domestic mining and hydrocarbons sector fell
While some market participants were caught offside by Putin’s move towards gold amidst the recent war, it’s interesting to note that… Bill Murphy with Chris Marcus of Arcadia Economics While some market participants were caught offside by Putin’s move towards gold amidst the recent war, it’s interesting to note that they’ve been watching the gold
When it was launched, Bitcoin (BTCUSD) was envisaged as a medium for daily transactions by its inventor, Satoshi Nakamoto. The idea behind a decentralized cryptocurrency was to eliminate centralized control of money from government agencies and ensure speedy processing of transactions. More than a decade later, observers are questioning whether the cryptocurrency has failed to
At one point in February 2020, a single cruise ship — the Diamond Princess — accounted for more than half of the world’s confirmed cases of Covid-19 outside China. The 3,700 passengers and crew endured a grim quarantine off Japan; seven died. But Covid has not proved to be an existential threat for the industry.
This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here. Specification: Market failure, government intervention and government failure Click to watch the short video below and then answer the questions: Draw an externalities diagram related to the farming industry What policies could a government introduce
Toronto-Dominion Bank, the Canadian bank that’s been expanding through acquisitions, is weighing a deal for the brokerage firm Cowen, according to people familiar with the matter. The Toronto-based lender is working with advisors to study a possible transaction for Cowen, said the people, who asked not to be identified because the matter isn’t public. No
On Tuesday afternoon, the U.S. Food and Drug Administration (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC) voted 19-2 to recommend that future booster shots for preventing infection with Covid-19 be tweaked to address “super-contagious” Omicron variants, as the Associated Press reports. AP further notes that Pfizer (PFE) and Moderna (MRNA) are already on
Traders work on the floor of the New York Stock Exchange. NYSE Investors are greeting the third quarter with greater trepidation about a recession, and that makes next Friday’s June jobs report a potentially bigger catalyst for markets than it might otherwise have been. The jobs report and Wednesday’s release of minutes from the Federal
Sharing is Caring! by Martin Armstrong After examining 12 months of data from 1.7 million Americans, the Associated Press (AP) has found that people are fleeing the Democratic Party. The Democrats enjoyed a slight edge while Trump was in power, as the outspoken president seemingly polarized voters who felt the two parties represented good v. bad. Inflation
Amid the recent volatility in the crypto market affecting investments and stock prices, many firms made significant staff cuts in the last month while others continued hiring. In June, major crypto exchange Gemini was among the first to reportedly cut 10% of its employees amid the bear market, saying conditions were “likely to persist for
With the Fed aggressively trying to manage record-high year-on-year inflation rates with a series of interest rate hikes, rising mortgage rates are impacting home affordability for many American homebuyers. Housing market activity arguably got way overheated amid the pandemic, especially in 2021, and should experience a natural slowdown. Many housing markets are showing signs of
On Wednesday, it was reported that the crypto hedge fund Three Arrows Capital (3AC) was liquidated by a British Virgin Islands court and following the alleged liquidation, the Monetary Authority of Singapore (MAS) has reprimanded 3AC for misleading regulators. Furthermore, reports claim that liquidators in Singapore are attempting to seize the properties owned by 3AC
Saving for retirement is one of the biggest financial challenges most working families will face. People are living longer, which means more years of retirement to pay for. Costs for healthcare and long-term care remain high. Meanwhile, incomes are being squeezed by higher inflation and rising costs for housing, college, and other major life expenses.
Denver International Airport returns to the municipal market next week to complete financing for its current capital improvement plan, boosted by a rating upgrade as it continues to recover from passenger and revenue losses due to the COVID-19 pandemic. The $1.5 billion deal consists of $1.375 billion of senior lien bonds subject to the alternative
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) - It is PMI day all over the world and it has been a mixed bag so far heading into the U.S.
Only one person has been consistently right about silver for the last two years and nailed the call, and now… (by Half Dollar) I’ve lost count, and I’m not sure I’d remember if I tried to write them all down, but I know that at the very least, I’m on my thirty-something-ish vehicle, including motorcycles
While the S&P 500 posted its worst performance for the first half of the year since the 1970s, and other global markets have struggled as central banks raise interest rates, there’s a bull market underway in China. Easing virus restrictions and a looser policy stance have helped Chinese equities defy the recent sell-off of global stocks. Chinese authorities also
Russian president Vladimir Putin has already drawn his energy battle lines in Europe. On Friday, he added Asia. Russia will force the ownership of its Sakhalin-2 natural gas project into a local entity, threatening the investments of foreign groups including Shell and Japanese trading companies. It is a shot across the bows of energy producers
US government bonds rallied sharply on Friday and stocks pulled back after a gloomy report on America’s factory sector intensified concerns over the outlook for the world’s biggest economy. The yield on the 10-year Treasury note, a benchmark for global government bond markets as well as consumer loans and mortgages, dropped 0.1 percentage points to
Millennials shouldn’t rely on Social Security for 100% of their retirement. In fact, a new study says, they shouldn’t even rely on it for 100% of their Social Security checks. According to the HealthView Services, a healthcare research group, Americans born between 1981 and 1996 should expect about a 20% cut to their projected benefits
Paychex, Inc. (NASDAQ: PAYX) offers integrated human capital management (HCM) solutions to organizations of any size, from startup to enterprise. The company reported impressive results for the fourth quarter of Fiscal 2022. Revenues of $1.14 billion climbed 11% year-over-year, while earnings increased 13% from the year-ago quarter to $0.81 per share. However, the company provided weak
In this article MGM CZR META MU KSS AAPL Check out the companies making headlines before the bell: Kohl’s (KSS) – Kohl’s tumbled 17.9% in premarket trading after the retailer confirmed an earlier CNBC report that it ended talks to be bought by Vitamin Shoppe parent Franchise Group (FRG). Kohl’s said the deteriorating retail and
Sharing is Caring! by Grif The Catholic Church is under attack by radical pro-abortion terrorists who have rampaged across the country, looting, ransacking, and burning Catholic houses of worship. According to CatholicVote, there have been more than 150 violent attacks in 39 states since 2020. The most recent church burning was Sunday, (July 26, 2022) when
Crypto exchange platform Coinbase denied reports alleging that the company is selling its customer information to the United States Immigration and Customs Enforcement (ICE), an agency that works under the country’s Department of Homeland Security. On Thursday, news that Coinbase has been providing geolocation data to the ICE has circulated online. Because of this, Twitter
Descending from the triple-height ceiling of the lobby of the new Garza Blanca Resort & Spa Cancun, Mexico, are 1600 light fixtures. Against the distant gold ceiling, they appear to be floating, an ethereal element in a vast, dramatic space. “The wow factor is a very important part of our design,” says Carlos Alberto Palomera
Real estate and related industries account for more than a quarter of China’s economy, according to Moody’s estimates. CFOTO | Future Publishing | Getty Images China’s real estate bonds were once key performance drivers for Asia junk bond funds, but the market share from property bonds has fallen as a result of the country’s property
Two companies have carried out Russia’s first transactions with digital financial assets as defined by the country’s current legislation. The deal involved the tokenization of debt issued by a third party and its subsequent acquisition. Russian Companies Conduct Issue and Placement of Digital Financial Assets VTB Factoring, a subsidiary of Russian majority state-owned Vneshtorgbank (VTB),
By Mindy Charski, Next Avenue Kyla Moles has purchased many cars in her life, but her latest quest for a vehicle felt more like a competition than a shopping expedition. “It was a harrowing experience,” says the 53-year-old office manager and mom of three. Her more than seven-month attempt to buy a new 2022 Hyundai
Municipals were firmer to end the month, but underperformed a U.S. Treasury rally following cooler-than-expected inflation data that fueled recession fears. Equities sold off leading to the S&P 500 closing with the worst first half performance since the 1970s. “A global central bank effort to fight inflation is driving rising recession fears that has given