Congratulations! You finally decided to buy that life insurance policy you’ve been putting off for years, or to put some money into a new deferred annuity contract or individual retirement account (IRA). The check has been written and the application filled out. Now all you have to do is complete the beneficiary form—an inconspicuous little
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Westend61 The market, as we know, is seductive, luring its participants skillfully until they are as hooked as the sea bass that can’t resist the shimmering flies we cast at them on Buzzards Bay. Poor fish. Poor buyers of bitcoin at $61,000, Snowflake at $380, and Teladoc at $290. But just because we fall for
The agreement by G7 leaders to mobilise billions of dollars to help developing countries tackle climate change through the “build back better world” initiative is a welcome development (“G7 set to agree ‘green belt and road’ plan to counter China’s influence”, Report, June 13). But to address the unprecedented recovery from the Covid pandemic, as
Ebay is set to sell its South Korea business to a local consortium for $3.1bn, according to people with knowledge of the matter, as rivals seek to turn up the heat on SoftBank-backed Coupang in the world’s fourth-largest ecommerce market. The consortium, which consists of South Korea’s biggest bricks-and-mortar retailer E-Mart and internet group Naver,
Cadbury is one of the most iconic confectionery brands in the world. The company, known for its Dairy Milk bar, is now a part of Mondelez International. Kraft acquired Cadbury for $18.9 billion in 2010, combining two strong food companies before spinning off some of the international food brands as Mondelez. Together with other Mondelez
Starship prototype SN8 flies above Boca Chica, Texas. SpaceX The leader of the Federal Aviation Administration’s space office defended Elon Musk’s SpaceX in front of Congress, despite the company launching a Starship prototype in December without authorization. The House Transportation and Infrastructure Committee held a hearing Wednesday on the FAA’s role in spaceflight, with the
New claims for US unemployment benefits unexpectedly rose back above 400,000 last week from a pandemic-era low, though the labour market is expected to improve as vaccinations increase and lockdown measures ease. The pace of jobless claims filed for regular state programmes rose by 37,000 in the week ending June 12 to 412,000, the US
Rishi Sunak has ruled out any further extension of support to businesses in England, despite the government forcing many to close for an extra four weeks because of rising coronavirus cases. The chancellor told the Financial Times in an interview that he had taken into account the possibility of a delay to lifting lockdown when
E-Books vs. Print Books: An Overview In the last several years, e-books have become a mainstay of the publishing industry. However, the demise of printed books as a result of the introduction of e-books has not materialized as predicted. According to the Association of American Publishers, e-book sales in the U.S. declined slightly to $983
Billionaire hedge fund manager Paul Tudor Jones told CNBC on Monday that he’s paying close attention to the Federal Reserve’s policy meeting this week in light of recent economic data showing higher consumer prices. “If they treat these numbers — which were material events, they were very material — if they treat them with nonchalance, I
Global stocks continued a steady descent from record highs reached earlier in the week and the dollar strengthened after the US central bank brought forward the anticipated timing of its first post-pandemic interest rate rise. The FTSE All-World index of developed and emerging market stocks, which hit a closing record on Monday, headed for its
To paraphrase Eric Morecambe: some hands require you merely to play the right tricks; others demand the right tricks in the right order . . . Bidding Dealer: South Game All North East South West — — 1S NB 3S NB 4S Most pairs found their way into game; those who stopped in 3S were
Robert Duggan is an American entrepreneur and billionaire whose investment philosophy is “not just making a difference—but making a difference for the betterment of all involved.” For more than five decades, Duggan has played instrumental roles in growing startups and turning around failing companies. His history of venture capital investments includes a robotic surgery company, a
Members of the Federal Reserve now see at least two interest rate hikes in 2023, according to the central bank’s so-called dot-plot projections. Wednesday’s forecast showed 13 members believe the Fed will increase rates in 2023 and the majority of them believe the central bank will hike at least twice that year. Only 5 members
New Zealand aims to agree free trade deals with the UK and EU this year in a bid to diversify its export markets amid rising tensions with China, the Pacific nation’s trade minister has said. But Damien O’Connor insisted Wellington would continue to expand its trading relationship with Beijing despite “ructions” straining ties between its
The German pharmaceutical company CureVac revealed disappointing results from trials of its mRNA Covid-19 vaccine, damping hopes that the jab could help meet the global need for effective inoculations. CureVac on Wednesday said its jab was 47 per cent effective at protecting against coronavirus in an interim analysis of its late-stage trials, making it one
If you are in debt and cannot pay your bills, is a debt settlement program the cheapest way out of debt? You might draw that conclusion from the American Fair Credit Council (AFCC), an industry association of companies operating in the debt settlement industry that have agreed to a strict code of conduct. Key takeaways
SpaceX President and COO Gwynne Shotwell Jay Westcott / NASA SpaceX president Gwynne Shotwell returned to her alma mater on Monday and delivered Northwestern University’s commencement address to the class of 2021. Speaking virtually, Shotwell gave Northwestern’s students an overview of her career, especially focusing on the nearly two decades that she’s worked for Elon
Federal Reserve officials expect to start raising interest rates in 2023, earlier than previously forecast, according to new economic projections that predicted faster growth and sharply higher inflation this year. At the end of its two-day policy meeting on Wednesday, the US central bank kept its main interest rate on hold at the rock-bottom range
Joe Biden warned Vladimir Putin that there would be “devastating” consequences for Russia if opposition activist Alexei Navalny were to die in prison after “open” and “frank” talks aimed at stabilising relations between the two countries. In their first face-to-face meeting as leaders, the presidents agreed to begin bilateral talks on preventing cyber attacks, restart talks
Once wracked by political chaos and poverty, South Korea has emerged as an Asian giant whose economy stands tall amidst a number of other competitors. Little wonder, then, its spectacular economic growth has been popularly called the “Miracle of the Han River”! Now a trillion-dollar-club economy that ranks as the world’s 12th largest, with a gross
Hunter Horsley, CEO of Bitwise Asset Management and executives celebrate the launch of an ETF at the New York Stock Exchange, June 1, 2021. Source: NYSE Henry Kravis, Stanley Druckenmiller and Bridgewater CEO David McCormick have invested in Bitwise Asset Management’s Series B funding. The cryptocurrency index fund manager raised $70 million from a handful
After 17 years, millions of dollars in legal fees and much bad blood between Boeing and Airbus, the world’s longest-running trade dispute is over at last. At least that is how the EU and US were heralding the agreement on Tuesday to suspend tariffs in the row over subsidies to the world’s two biggest aircraft
Polestar, the electric car maker backed by Volvo and Geely, has opened the door to going public via a blank cheque vehicle as it seeks more firepower to compete in an increasingly competitive global market. The group, which tapped Chinese investors for $550m in April, plans to embark on further fundraising as it prepares to
Editor’s note: Below you’ll find the week 43 release of the NYC Recovery Index, originally published June 9, 2021. Visit the NYC Recovery index homepage for the latest data. New York City’s economic recovery made modest gains as of May 29, notching three points higher to settle at a score of 75. This is the
The Tokyo Olympics will need a public bailout of about $800m if the games are held behind closed doors, as organisers delay a decision on domestic spectators to the last possible moment. Recent budgets show the Tokyo 2020 organisers are still assuming full stadiums. Having already spent the billions of yen raised from ticket sales,
A conceptual rendering of the two ESCAPADE spacecraft in orbit around Mars. Rocket Lab Rocket Lab, which is nearing the close of its SPAC deal to go public, on Tuesday announced it won an early contract that may send two of its Photon spacecraft on a mission to Mars in 2024. NASA, under its Small
South Korea’s cutting edge technology has abetted a wave of digital sex crimes targeting young women and girls. According to victims, researchers and advocacy groups, South Korea is the global centre for illegal filming and sharing of explicit images and videos. Digital technologies, including high-speed streaming and encrypted chat rooms, have provided new vehicles for propagating
As multiple industries begin to rebound from the impact of the coronavirus pandemic, cryptocurrency enthusiasts are looking forward to spending their digital coins abroad. And even while the high volatility in cryptocurrencies has raised concerns among investors, the blockchain and cryptocurrency industry continues to have its fans. In fact, as the world begins to open
CNBC’s Jim Cramer on Tuesday warned about the stock market implications of Federal Reserve Chairman Jerome Powell‘s upcoming post-meeting news conference. The Fed is set to release its policy statement at 2 p.m. ET on Wednesday, at the conclusion of its two-day June gathering. Powell’s Q&A session with reporters is scheduled to follow. Powell’s comments