Author: Press Room

As the cost of living continues its journey upward, consumers are finding this tough to deal with, according to a Bread Financial survey. Fifty-seven percent of survey respondents said their financial goals would be more difficult to meet than in other years, and 64% cited the cost-of-living increase as their top concern, while 47% blame inflation. Different generations handle this uncertainty differently. Nearly half of Baby Boomers plan to cut back on spending to make ends meet, while 39% plan to focus on paying down debt. All respondents agree with cutting back in order to save more money. Forty-one percent of…

Federal Reserve Governor Michelle Bowman said Friday that it’s possible interest rates may have to move higher to control inflation, rather than the cuts her fellow officials have indicated are likely and that the market is expecting.Noting a number of potential upside risks to inflation, Bowman said policymakers need to be careful not to ease policy too quickly.”While it is not my baseline outlook, I continue to see the risk that at a future meeting we may need to increase the policy rate further should progress on inflation stall or even reverse,” she said in prepared remarks for a speech…

The unemployment rate among Black Americans jumped in March, according to data released Friday by the Department of Labor.Black unemployment rose to 6.4% last month, up from 5.6% in February. That’s higher than the overall unemployment rate, which edged lower to 3.8% last month, as well as the 3.4% jobless rate for white Americans, which held steady from February.When accounting for gender, the unemployment rate for Black women aged 20 or older spiked to 5.6%, a big increase from the 4.4% rate in February. Black men’s jobless rates climbed slightly higher to 6.2% from 6.1%.”That’s a concerning trend,” said Elise…

Millions of packets of popular laundry detergent pods made by Procter & Gamble have been recalled due to faulty packaging, which pose a serious risk of accidental ingestion by young children and may cause facial injuries, the US Consumer Product Safety Commission said Friday. The recall involves Tide, Gain Flings, Ace and Ariel liquid laundry detergent pod packets, which were made between September 2023 and February 2024 and sold in flexible film bags in the United States. The outer packaging designed to prevent access to the pods can split open near the zipper track, posing a risk of serious injury to children and…

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Last updated: April 5, 2024 12:22 EDT | 2 min read Altcoin fans are delighted after Bitcoin Cash (BCH) hit a three-year high of over $700 today; at the same time an ongoing ICO for a new VR token raised $4 million.The last time BCH traded above $700 was on September 5, 2021, when the price was $711.56, according to data by CoinGecko.Source: TradingViewStill, in the grand scheme of things, BCH’s current price of $672 is some 82% down from its all-time high of $3,785.82, set on December 20, 2017, following a Coinbase listing announcement. Given the distance of 7…

Warren Buffett’s favorite market gauge has surged to a two-year high of 184%, signaling stocks are overvalued and could suffer a devastating crash.The “Buffett Indicator” takes the combined market capitalization of all actively traded US stocks and divides that figure by the latest quarterly estimate for gross domestic product (GDP). Investors use it to compare the overall value of the stock market to the size of the national economy.The FT Wilshire 5000 index has jumped 9% to a record high this year, boosting its market capitalization to about $51.47 trillion, according to Wilshire Indexes.US GDP is up 40% from its…

Huang founded Nvidia over a meal at Denny’s. Nvidia was founded in 1993 at a Denny’s restaurant where he was meeting with two friends, Chris Malachowsky and Curtis Priem, per a September 2020 report in the Wall Street Journal.His friends were with their work at the time, and the three “wondered whether starting a graphics company would be a good idea,” Huang told Stanford University’s engineering school in a 2010 interview.”We brainstormed and fantasized about what kind of company it would be and the world we could help. It was fun,” he told Stanford.Denny’s was also where Huang part-timed when he…

Start Time: 11:00 End Time: 43:00 November 1, 0000 ET Q1 2024 Earnings Conference CallApril 04, 2024, 11:00 AM ET Company Participants Melanie Hennessey – Vice President-Corporate CommunicationsGreg Lang – President and Chief Executive OfficerDavid Ottewell – Vice President and Chief Financial Officer Conference Call Participants Lucas Pipes – B. Riley SecuritiesDon DeMarco – National Bank Financial Operator Thank you for standing by. This is the conference operator. Welcome to the NOVAGOLD 2024 First Quarter Financial Results Conference Call and Webcast. [Operator Instructions] I would now like to turn the conference over to Melanie Hennessey, Vice President, Corporate Communications. Please…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Joe Biden has warned Benjamin Netanyahu that US support for Israel’s war in Gaza depended on its efforts to address the humanitarian suffering in the enclave, as he called for an “immediate ceasefire” in the conflict.The comments from the president marked his strongest signal that Washington’s backing for its ally’s offensive against Hamas now dependend on Israel lessening the war’s civilian toll — and his clearest call for an immediate halt in the fighting.Biden’s message to the Israeli prime minister came in…