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A banner promoting the Emerald Bay residential project outside the China Evergrande Centre in the Wan Chai area of Hong Kong, China, on Friday, July 23, 2021. Lam Yik | Bloomberg | Getty Images Embattled developer China Evergrande on Tuesday said its property sales will likely continue to drop significantly in September, resulting in a
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Inflation tends to top the list of economic risks that investors obsess most about. After all, runaway inflation has devastated some economies over the centuries. Corralling inflation and keeping expectations well-anchored have been key mandates for most central banks for decades. However, inflation expectations are not uniform across age groups. Surveys from the New York
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Norway’s centre-left opposition regained power after an unprecedented eight years of rightwing rule in an election dominated by the future of the country’s oil industry and inequality. Centre-left parties won 100 seats against 68 for the centre-right, according to projections with almost all votes counted. Conservative prime minister Erna Solberg conceded late on Monday night.
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JD Sports Fashion posted a more than sevenfold surge in interim profit and raised its full-year target by about a third as its expansion into the US paid off. The retailer said pre-tax profit for the six months to July rose to a record £364.5m, from £41.5m a year ago, as revenue increased 56 per
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Interactive Brokers is introducing cryptocurrency trading, adding to competition for self-guided virtual currency traders among brokerages. The Greenwich, Connecticut-based company will allow users to buy and sell Bitcoin, Ethereum, Litecoin and Bitcoin Cash through a partnership with crypto brokerage Paxos Trust, according to a statement Monday. Customers will pay a commission of 0.12% to 0.18%
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DBS Group Holdings, the largest bank in Singapore and Southeast Asia, says its crypto business is “growing very rapidly.” The bank’s digital asset trading platform expects to double the number of members by year-end. Singapore’s DBS Expects Substantial Growth in Crypto Business DBS’s senior executives said in an interview, published by Reuters Monday, that the
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Municipals were little changed ahead of a $10 billion-plus new-issue week as California offered $2 billion of general obligation bonds to retail investors and the market considered the municipal bond provisions offered from Washington. Triple-A benchmarks reported steady levels while U.S. Treasuries improved and equities also improved. “The municipal market is relatively unchanged and not
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The government may call it “borrowing”, but it has neither the means nor intent to repay. It will inevitably lead to a crisis… by Keith Weiner of Monetary-Metals Picture, if you will, a government that deliberately inflicts bad policy on the people. I know this sounds crazy, and could never happen, but please bear with
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Right now, markets are giving investors opposing trends simultaneously. The S&P and NASDAQ have posted strong year-to-date gains. At the same time, however, Wall Street strategists are growing more concerned that a slowing U.S. economy could derail the stock market’s record run. It’s an environment full of risk, and so risk-friendly investors are finding plenty of options –
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Democrats in the U.S. House of Representatives have proposed tax initiatives to fund a $3.5 trillion spending package which could potentially affect crypto users.  According to a document released by the House Committee on Ways and Means on Monday, the proposal would increase the tax rate on long-term capital gains from the existing 20% to
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The dizzying gains in home prices seen earlier this year may have peaked, according to data from House Canary. That doesn’t mean it’s bargain-basement time. The median listing price increased 7% in August’s last week from a year earlier, compared with a 16% annualized gain in May, according to a House Canary report. The median
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Nasdaq-listed Microstrategy has purchased 5,050 more bitcoins for $243 million, raising its total bitcoin holdings to 114,042 coins. Microstrategy Continues to Grow Its Bitcoin Stash The pro-bitcoin software company Microstrategy announced Monday that it has purchased more bitcoins. CEO Michael Saylor tweeted: Microstrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at
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The recent Social Security trustees report projected that the combined Trust Funds for Social Security retirement and disability benefits (officially called the Old-Age and Survivors Disability Insurance benefits, or OASDI) would be exhausted in 2034. These projections use the Social Security actuaries’ best estimate for various assumptions to project the system’s operations over the next
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