Author: Press Room
(Bloomberg) — Professional investors see the dollar sliding even further from last year’s two-decade highs, as the market has underpriced the Federal Reserve’s oncoming easing cycle. Some 87% of 331 survey respondents expect the Fed to cut interest rates to 3% or below — some significantly so — in a loosening cycle that 40% believe will start this year, according to the latest MLIV Pulse survey. That stands in contrast to market pricing that puts the implied policy rate around 3.05% in two years. Correspondingly, professional investors are negative on the dollar, with a 17 percentage-point gap between bears and…
By Chris Mfula LUSAKA (Reuters) – Zambia’s official creditors are close to signing a memorandum of understanding on debt relief, Finance Minister Situmbeko Musokotwane said on Friday. Zambia became the first African country to default on its sovereign debt during the COVID-19 pandemic in 2020, but it has struggled to finalise restructuring talks on external debt that reached $18.6 billion at the end of last year. “We are close but not yet there. By now we should have had an MoU signed by official creditors giving the IMF assurances,” Musokotwane said at a media briefing. “The creditors… are asking questions.…
The recent bank run and then failure of Silicon Valley Bank kicked off a mini crisis that’s already being made worse by the government.And it could even morph into a far worse downward spiral if Federal regulators don’t back off, according to a recent report. “More penetrating government control of the banking industry will not change human nature,” states the research note from financial analytics company HCWE & Co. “What it will do is to degrade the economy by increasing the cost of banking.” The report highlights the problems of baking bailouts & unlimited protection of depositors, plus the dangers…
In terms of fundamental data, it was not a great week for the stock market or the economy. Monday’s Empire State Manufacturing Survey was the exception as it rose for the first time in five months and the S&P 500 posted its best day of the week. Most earning reports disappointed investors, especially Telsa (TSLA), which declined over 10%. This was in contrast to Thursday’s Philadelphia Fed Manufacturing Survey which came in at -31.3 down from last month’s 23.2. This was the eighth negative reading in a row and the worst reading since May 2020. This survey has many components…
While some companies are pulling back on flexibility, others, like Airbnb and Pinterest, are celebrating one year since permanently switching to remote or hybrid work.Even as the number of remote job opportunities dwindles, demand for flexible work remains high: Nearly half of employees want more flexibility in where and when they work, according to a January 2023 report from Monster, which surveyed more than 1,000 workers.That being said, the remote job market has gotten more competitive. Yelp, for example, has seen a 200% increase in the number of applicants per general and administrative job posting since the company went fully…
Stock futures fell slightly on Sunday night as investors await a slew of corporate earnings from big tech companies, as well as fresh economic data releases. Dow Jones Industrial Average futures fell by 45 points, or 0.13%. S&P 500 and Nasdaq 100 futures dipped 0.14% and 0.15%, respectively. The major indices all closed Friday on a downturn for the week as the earnings season began to ramp up, with several prominent banking names posting their quarterly results for the first time since the bank failures in March. The Dow dropped 0.23% and ended a four-week upside streak. The Nasdaq declined 0.42%, while the…
America’s leading specialty baby products retailer will shutter its 120 stores, a consequence of parent company Bed Bath & Beyond’s bankruptcy filing on Sunday. buybuy BABY and its website will remain open for now, along with 360 Bed Bath & Beyond stores, as the company secured a $240 million loan to help fund its operations during bankruptcy. Store closing sales will start Wednesday, as the company is using Chapter 11 proceedings to put itself up for sale. It said if it succeeds in finding a buyer, the company will “pivot away” from store closings. If a buyer does not appear…
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The hugely popular non-fungible token (NFT) maker of Bored Ape, Yuga Labs, has recently won its case against copycat Ryder Ripps. According to court documents, Yuga Labs is said to have won on all counts.Yuga Labs Gets Summary VictoryThe legal tussle which began last summer seems to have turned in the face of Yuga Labs. The creator of the largest non-fungible token (NFT) ecosystem comprising the famous Bored Ape Yacht Club, recently won a landslide over Ryder Ripps and his cohorts.According to court documents, Yuga Labs has won its case against the copycats of its Bored Ape digital collectible on the cause…
Elon Musk called AI a danger to the public during an interview with Tucker Carlson. He said AI was more dangerous than mismanaged aircraft design or bad car production. Musk is reportedly establishing his own generative AI project. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Elon Musk is still quite concerned about advanced artificial intelligence. In an interview on Fox News’ “Tucker Carlson Tonight,” he said people should be “cautious with AI” and advised that there should be government oversight because the tech is…
