Local think tank Infrawatch PH has sent a letter to the Philippines’ Department of Trade and Industry (DTI), urging the government agency to launch an investigation against crypto exchange Binance for promotions without permits. The letter alleged that the crypto exchange has been targeting Filipino consumers with unregistered promotions that are being casually posted on
Lifestylevisuals | E+ | Getty Images Homebuyers are feeling the squeeze of rising mortgage rates. On top of that, housing prices remain high. That may lead many to rethink their budget. “As mortgage rates go up, it raises the cost of buying a home with a mortgage,” explained Danielle Hale, chief economist at Realtor.com. “For
The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances
If you spend time following the financial influencers on TikTok, you may start to get some crazy ideas about money. For example, some of the worst financial advice I’ve seen on TikTok has suggested that you should never put down any money when you buy a home and that anyone can be successful at day
Federal Reserve officials agreed last month that interest rates may need to keep rising for longer to prevent higher inflation from becoming entrenched, even if that slowed the U.S. economy. Policy makers backed raising rates at their next meeting in July by either 50 or 75 basis points, according to minutes of the Federal Open
(Kitco News) With gold erasing $70 this week while the U.S. dollar surges and crude oil sells off, TD Securities is not ruling a “massive capitulation” event in gold. The precious metal was trading near 8.5-month lows Wednesday as the U.S. dollar index rose to 20-year highs and crude oil fell below $100. August Comex
Debt and deficits do matter, and we are about to find out how much they… by Jeff Deist via Mises In fiscal year 2020, at the height of covid stimulus mania, Congress managed to spend nearly twice what the federal government raised in taxes. Yet in 2021, with Treasury debt piled sky high and spilling over $30 trillion, Congress
What Is the SWIFT Banking System? Need to transfer money overseas? Today, it is easy to walk into a bank and transfer money anywhere around the globe, but how does this happen? Behind most international money and security transfers is the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system. SWIFT is a vast messaging network
This article is an online version of our Inside Politics newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday. An avalanche of junior ministerial resignations has left Boris Johnson’s government unable to fulfil the basic functions of government and forced the prime minister to accept his time in office
Boris Johnson is due to quit as UK prime minister on Thursday after a dramatic two days in which more than 50 members of his government resigned, demolishing his political authority. Two senior government officials told the Financial Times Johnson is expected to make a statement at lunchtime when he will announce plans to remain
As financial advisors coach clients through market volatility and inflation, they’re looking more critically than ever at their current brokerage firms, according to a new survey. Registered representatives at nine out of 13 wealth managers ranked in J.D. Power’s annual advisor satisfaction study received lower scores compared to a year ago. At least 15% of
As macroeconomic volatility leaves investors in a quandary about which stocks to invest in, corporate insiders seem to be lapping up the stock in their own companies at a record pace. According to a Financial Times report from earlier this year which cited VerityData, stock buying among corporate insiders for companies in the S&P 500
In this article GME A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) March 29, 2022. Brendan McDermid | Reuters Shares of GameStop jumped more than 8% in extended trading Wednesday after the retailer said a 4-for-1 stock split was approved by its board.
Sharing is Caring! by Michael The endless drought in the Southwest has become a full-blown national emergency. If Lake Mead, Lake Powell and the Colorado River keep drying up at the rate they have been, millions of Americans could soon be without water and electricity. Despite all of our advanced technology, those living in the Southwest
US government officials who privately own cryptocurrencies are now banned from working on regulations and policies that could affect the value of digital assets. A new advisory notice released by the US Office of Government Ethics (OGE) on Tuesday stated that the de minimis exemption — which allows for the owners of securities who hold
In this article CWK New York State Attorney General, Letitia James, speaks during a news conference, to announce criminal justice reform in New York City, May 21, 2021. Brendan McDermid | Reuters A New York judge held real estate services giant Cushman & Wakefield in contempt of court for refusing to comply with subpoenas demanding
Bank of America has revealed that the number of its customers who are active crypto users has declined more than 50% from its peak in November last year. In addition, the bank said its data “shows that outflows to crypto platforms have fallen sharply,” indicating that “consumers are pulling back on their net investment into
Topline Oil prices continued to fall in choppy trading on Wednesday—extending recent losses as growing recession fears wreak havoc on markets, but despite concerns about an economic downturn hurting demand, most experts remain optimistic that prices will rebound by later this year. Key Facts The price of U.S. benchmark West Texas Intermediate slid nearly 2%
Michigan’s approved fiscal 2023 budget boosts the rainy day fund to a new peak and sends $2.6 billion to public pension plans, but tougher discussions lie ahead over the fate of billions in remaining revenues left on the table. Officials differ over what type of tax relief to provide with a portion of those billions.
Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to announce the successful completion of its acquisition of the Pitarrilla Project (” Pitarrilla “) from SSR Mining Inc. (NASDAQTSX: SSRM; ASX: SSR) (” SSR Mining “). Pitarrilla, one of the largest undeveloped silver deposits in the world 1 is located 160
From a technical perspective, it’s either “rally time” now or very soon… by Stewart Thomson of Graceland Updates 1. It was a June swoon for the metals and miners. Can they fly in July? 2. Please click here now. Double-click to enlarge this daily gold chart. A double bottom pattern is in play. The initial target is about $1880, and a
Portfolio management means different things to different people, but generally, it is a way of balancing risks and rewards. And while the goal of any investment strategy seems straightforward—to make money—it often depends on an investor’s circumstances. For example, a young person new to the full-time workforce might reasonably expect his investment portfolio to grow
The heads of the FBI and MI5 have warned that China’s industrial espionage poses a growing threat to western groups, including through special purpose acquisition companies. In a joint appearance in London, the chiefs of the US and UK intelligence agencies called on companies to be much more vigilant about China. FBI director Christopher Wray
India’s commerce minister has said New Delhi is on track to conclude a full trade agreement with the UK by October, adding that negotiators have already finalised almost half of what will be one of Britain’s most ambitious deals since Brexit. Piyush Goyal told the Financial Times that he expected the countries would conclude the
In a new episode of the Financial Planning Podcast, Alan Foxman talks about what to expect when you’re expecting to make a move. Foxman, a managing director with Foreside Financial Group, brings decades of experience in the world of financial and professional services to this week’s episode. He’s been a member of the Florida Bar
Let’s begin with the fact that no investor can get around right now, the current volatile market. In the words of the Goldman Sachs strategist David Kostin, “The first six months of 2022 have been a brutal time to be an investor in public markets.” The losses, which stand at 19% year-to-date on the S&P 500,
Traders on the floor of the NYSE, June 16, 2022. Source: NYSE U.S. stock futures were little changed on Wednesday night as investors digested the most recent meeting minutes from the Federal Reserve. Dow Jones Industrial Average futures rose by 26 points, or 0.1%. S&P 500 and Nasdaq 100 futures climbed 0.1% and 0.1%, respectively.
Sharing is Caring! by Michael These are not good times for Joe Biden. When the U.S. economy is performing well whoever is in the White House is going to get most of the credit. Likewise, when the U.S. economy is performing poorly whoever is in the White House is going to get most of the blame.
Porter Finance, a decentralized finance, or DeFi, protocol based on the Ethereum (ETH) blockchain, announced Tuesday that it was shutting down its bond issuance platform. In explaining the discussion, Porter Finance said: “Looking forward, we are not confident there will be large inflows of lending demand for fixed income DeFi products like the ones offered
FUTURE LIGHT | Photodisc | Getty Images Sales contracts for Manhattan apartments plunged by nearly a third in June as the city’s scorching real-estate market started to cool amid recession fears and declining stocks. New York real estate was on a tear through the early spring, with high prices and strong sales. The median sales
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