Author: Press Room
You’d hardly know by looking at financial markets that the US debt limit was breached in January. But that’s starting to change, in what is shaping up to be a nail-biting game of debt ceiling squabbling as the shot clock is winding down. If lawmakers don’t raise the nation’s borrowing limit by June, the federal government runs the risk of defaulting on its debt obligations, Treasury Secretary Janet Yellen said in January. That would be catastrophic for the economy and put millions of jobs in jeopardy, Moody’s chief economist said. Markets aren’t shrugging that off. Investors are demanding historically high…
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Negative momentum in cryptocurrency markets has continued on Thursday and Cardano (ADA) is suffering as a result.The cryptocurrency which powers the smart-contract-enabled Cardano blockchain and sits at the heart of Cardano’s Decentralized Finance (DeFi) ecosystem, was last down a little over 2.5% on Thursday after dropping over 6% on Wednesday.ADA/USD was last changing hands close just above $0.40, having found support from an uptrend that began in early March and from the 21-Day Moving Average.That means the cryptocurrency around 12.5% lower versus the multi-month highs it hit above $0.46 earlier this month.Despite its sharp drop in the last few days,…
That price point, bold looks, and impressive performance should make it a fierce competitor with other luxury electric SUVs, like the Tesla Model Y, Cadillac Lyriq, and Genesis GV60. Read more: Mercedes’ first electric Maybach is an utterly excessive SUV with silver champagne flutes, a fridge, and calf massagers Read the full article here
China’s foreign minister Qin Gang has warned of “dangerous” consequences for countries that intervene in Taiwan, saying “those who play with fire . . . will eventually get burned” amid heightened tensions over the island nation.Qin’s remarks came after South Korea’s president accused Beijing this week of “attempts to change the status quo” on Taiwan “by force” and as the US and Philippines conducted their largest joint military exercises in more than three decades in the region.“Recently there has been absurd rhetoric accusing China of challenging the so-called rules-based international order, of unilaterally changing the status quo across the Taiwan Strait through force and…
The risks and pressures of a coming debt showdown with Republicans are quickly mounting for President Joe Biden, who is expected to announce a reelection bid as soon as next week. Most attention so far has been on House Speaker Kevin McCarthy’s perilous effort to unite his fractious party and preserve his tiny majority. But the White House and top Democrats are insisting that they won’t engage with McCarthy’s demand for sweeping spending cuts in exchange for the House agreeing to lift the government’s borrowing limit to avert a disastrous debt default and a possible financial crisis this summer. The…
Shares of Berkshire Hathaway Inc. Cl B BRK.B, +0.23% inched 0.23% higher to $323.82 Thursday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index SPX, -0.60% falling 0.60% to 4,129.79 and Dow Jones Industrial Average DJIA, -0.33% falling 0.33% to 33,786.62. Berkshire Hathaway Inc. Cl B closed $27.04 below its 52-week high ($350.86), which the company reached on April 21st. The stock demonstrated a mixed performance when compared to some of its competitors Thursday, as Honeywell International Inc. HON, -0.54% fell 0.54% to $196.75, General Electric Co. GE, +0.74% rose…
Many employees are seeing their bonuses reduced or eliminated these days, but the ones at a Michigan-based furniture company whose chief executive asked them to leave “Pity City” in a now-viral video may be getting the most sympathy — at least online.At some of the nation’s biggest companies where employee bonuses have been affected, the chief executives and other management have also taken cuts in bonuses or pay, though there are exceptions. But if there’s any question about why CEOs like Andi Owen of MillerKnoll Inc. MLKN, -3.55% may seem out of touch with their employees — she went on…
The Biden administration is planning for an executive order next month that aims to limit U.S. investment in certain sectors in China, according to a Bloomberg report citing unnamed sources. The order looks set to come around the time of a Group of Seven meeting in Japan that starts on May 19, as the U.S. wants G-7 nations to endorse it. A Wall Street Journal report last month said the Biden administration was preparing a new program that could prohibit U.S. investment in certain sectors in China and was reaching out to G-7 allies to build support for the concept.…
© Reuters. Analysts positive on ServiceNow ahead of Q1 earnings By Davit Kirakosyan Several Wall Street analysts provided their outlook on ServiceNow (NYSE:) ahead of the company’s upcoming Q1/23 earnings release, scheduled on April 26. Citi raised its price target on the company to $562.00 from $506.00 while maintaining a Buy rating, noting that its partner checks pointed to mostly resilient business trends, with some instances of favorable pull-in dynamics and fewer deal slippage issues that were seen last year. The firm expects a slight Q1 beat to the key cc CRPO metric, at least in-line Q2 guidance, and a…
