China’s central bank digital currency (CBDC) continues to gain further ground as the Beijing Local Financial Supervision and Administration Bureau revealed 40 million worth of the country’s digital yuan ($6.3 million) will be distributed to Chinese citizens. Beijing and China’s Central Bank Launches Digital Yuan Lottery The People’s Bank of China (PBoC) and Beijing Local
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At a friend’s BBQ the other day, I was approached by a soon-to be-retiree. Normally, I get cornered at social gatherings by folks looking for a hot stock tip or my thoughts on cryptocurrency. This gentleman, however, came with a much different intention. He wished to discuss his current predicament, a strong concern about inflation
The Federal Reserve Board plans to begin gradually selling a portfolio of corporate debt purchased through an emergency lending facility launched last year, as the COVID-19 pandemic was spreading panic through financial markets. “Portfolio sales will be gradual and orderly, and will aim to minimize the potential for any adverse impact on market functioning by
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) – Newcrest’s Cadia was the largest gold mine in Australia in Q1 2021, followed by Newmont’s Boddington and Tanami mines. Six
It is a grave mistake to trust the state and its central planners with one’s savings, retirement or the accumulated wealth one intends to… **** Editor’s Note: This is Part II of a two-part series: Click here for Part I ***** by Claudio Grass via Claudiograss.ch The hidden tax A lot of people might be
The European Central Bank has warned that a CBDC or digital euro may be required to head off the spectre of “artificial currencies” dominating cross-border payments. In ECB’s annual review of the euro dubbed “The international role of the euro”, economists Massimo Ferrari and Arnaud Mehl conveyed concerns over the rise of artificial currencies led
Buy now, pay later (BNPL) is an increasingly popular way for consumers to make purchases online and in stores. These point-of-sale installment loans are offered by a number of services, including Affirm, Afterpay, and Klarna. An estimated 39% of consumers have tried a buy now, pay later service at least once, according to one survey.
In this article AMC An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. Carlo Allegri | Reuters Mudrick Capital raised eyebrows on Tuesday when it bought 8.5 million shares of AMC Entertainment through an offering from the theater chain,
A chemical-laden container ship that has been on fire for almost two weeks has started to sink off the coast of Sri Lanka, sparking fears of a serious environmental disaster. Efforts to move the feeder vessel MV X-Press Pearl into deeper water failed on Wednesday, prompting the Singaporean operator to shift its focus to mitigating
Commodities trader Trafigura warned Credit Suisse last year that the bank’s supply-chain finance funds appeared to contain a suspicious invoice from industrialist Sanjeev Gupta’s business empire, according to three people with knowledge of the discussions. The collapse of the $10bn suite of Credit Suisse funds, which packaged up invoices linked to the failed supply-chain finance
In a new episode of the Financial Planning podcast, financial advisor Chloé Moore explains how she and other planners launched a new summer RIA internship program from scratch. Moore is the founder of Atlanta-based Financial Staples, where she works with more than two dozen clients. She’s also one of the four co-founders of the BLatinX
Shares of Laurentian Bank (LB) rose more than 2% in early trading Wednesday even after Canada’s seventh-largest bank posted better-than-expected Q2 profits, thanks to a strong performance in capital markets and lower provisions for credit losses. Profit came in at C$53.1 million (C$1.15 per diluted share) for Q2 2021, up 497% from a profit of
An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn. Victor J. Blue/Bloomberg via Getty Images Etsy — Shares of the e-commerce company are up 6.9% midday after Etsy announced a $1.6 billion deal to buy fashion resale app Depop. The newly acquired business, which is based in
Sharing is Caring! As early as 2018 US State Department officials warned about safety risks at the Wuhan Institute of Virology lab on scientists conducting risky tests with the bat coronavirus. US officials made several trips to the Wuhan laboratory. Despite the warnings, the US National Institute of Health (NIH) under Dr. Anthony Fauci awarded
Michael H. Zaransky is Founder and Managing Principal of MZ Capital Partners, an award winning multifamily investment and development firm. The coronavirus pandemic has forced those of us in the multifamily sector to reassess real estate’s time-honored location-location-location mantra. With remote work now commonplace in several businesses — a trend that promises to continue post-pandemic —
Google has announced an update to its financial products and services policy, which includes its policy on cryptocurrency advertising. The new rules will take effect in August and all prior crypto exchange certifications will be revoked. Advertisers must request new cryptocurrency exchanges and wallets certification with Google. Google Introduces New Crypto Ad Rules Google Inc.
Maskot | Maskot | Getty Images President Joe Biden laid out a plan this week to narrow the racial wealth gap in the U.S. Many were disappointed not to see any mention of student loan forgiveness in that agenda. The president’s initiatives, announced 100 years after the Tulsa Race Massacre, will include tackling racial discrimination
Inflation in the United States has been mostly modest since 1982. That means that for 40 years, Americans have not had to worry much about the price of goods and services changing from year to year or the devaluation of the U.S. Dollar. However, signs are pointing to the possibility of inflation soon, so it
Municipals were firmer in both secondary trading and with primary deals repricing to lower yields as the Investment Company Institute reported more than $2.3 billion of inflows into municipal bond mutual funds, helping to keep muni yields low. Trading jumped up Wednesday with several high-grade names clearing at lower yields, combined with solid, large new-issues
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) – ECB’s Knot has said the EU and the world economy are growing faster than expected. In addition to this RBA’s
Big, big change is coming in the second half of this year… Alasdair Macleod interviewed on USA Watchdog by Greg Hunter Finance and economic expert Alasdair Macleod says a new rule change at the Bank of International Settlements (BIS), aka the central bank of central bankers, is going to help drive the price of gold
Opportunities for cryptocurrency usage have risen over the years as digital assets have become more well known. One operation, called Endaoment, is aiming to put charitable giving in the hands of the people and recently secured over $2 million to further its endeavor. “Endaoment facilitates tax-deductible giving of cryptocurrencies via its Donor-Advised Funds, a kind
Who Is Wilbur Ross? Wilbur L. Ross, Jr. (b. 1937) is a billionaire investor who spent a quarter-century working as a bankruptcy restructuring advisor for Rothschild Investments. Despite his wealth, he has been dubbed the “king of bankruptcy” for a record of leading failing companies. In the early 1990s, he helped a struggling casino magnate—Donald
The Biden administration has announced it will suspend the Arctic oil drilling rights sold in the last days of Donald Trump’s presidency, reversing a signature policy of the previous White House and handing a victory to environmentalists. In his first day as president, Joe Biden directed the interior department to review oil and gas activity
“The story of the Chartered Bank is a story not so much of Silver Crises and Currency reforms as of men. We should not aim to produce a highly ornamental volume which will gather dust in bank bookcases, but a story which everyone interested in the British achievement in the East will read and re-read.”
By now, financial advisors should be keenly aware of the value that diversity — having a diverse array of people from different backgrounds, genders, ethnic groups, orientations — brings to their teams. Clients are more often demanding to know that the businesses they’re working with have strong diversity, equity and inclusion (DEI) approaches in place,
Property, casualty, and other insurance services provider The Allstate Corp. (ALL) inked a deal to acquire SafeAuto for a total consideration of $300 million. Of this, $270 million will be paid in cash, while the remaining amount is payable in the form of pre-close dividends of certain non-insurance assets. SafeAuto is an auto insurance carrier
In this article .SPX Traders on the New York Stock Exchange Source: NYSE Stocks are likely to reach new highs in June, but the extent of the market’s gains depends on how much a threat inflation becomes and whether it will prompt the Federal Reserve to discuss tightening policy. June is historically a weak month
Founder and CEO of SmartRent, an enterprise home automation and internet of things platform for the multifamily industry. The conversation around the trendy, must-have amenities in multifamily shifts every few years with changing demographics and regular ebbs and flows of the market. An array of resort-style amenities popped up in the last decade as we saw
A real estate agent with an ‘Open House’ sign in the front yard of a home for sale. Ty Wright | Bloomberg | Getty Images High prices and low supply are finally taking some of the heat out of the housing market. Even with interest rates falling slightly, mortgage application volume fell 4% last week