Author: Press Room

Christine Lagarde, president of the European Central Bank, said she has “huge confidence” the US will not allow the country to default on its own debt during an interview on CBS’ “Face the Nation” Sunday. “I just cannot believe that they would let such a major, major disaster happen,” Lagarde said, adding if a debt default did happen, it would have a “very, very negative impact” both in the US and around the world. “(The US is) a major leader in economic growth around the world. It cannot let that happen,” Lagarde said. The US government is in a partisan…

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The Render Token Price has garnered a whopping 50% increase in price in April, making it one of the best performers in an industry largely controlled by Bitcoin and Ethereum.The Render blockchain seeks to facilitate a much more accommodating graphics processing unit (GPU) rendering for music lovers and connects artists and studios in need of computing power with miners. The token works in a peer-to-peer (P2P) network, which makes for improved and simplified streaming and rendering of 3D environments, models, and objects for end users.Another project looking to connect like-minded individuals is the DeeLance project. Currently on presale, DeeLance is the…

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BlackRock executives signaled an appetite for big deals on a call with analysts on Friday. The banking crisis that unfolded last month has created opportunities for BlackRock.  The potential for a “transformational” deal would expand the world’s largest money manager.  The banking crisis that unfolded last month with the collapse of Silicon Valley Bank has emboldened BlackRock, the world’s largest money manager with some $9 trillion of assets. Chief Executive Larry Fink told Wall Street analysts on Friday that this period of distress in the markets, like times past, has presented opportunities.”Especially in periods of dislocation, our willingness to reimagine…

Permutive told staffers this week it’s preparing a round of layoffs that may affect up to 40% of staff. It follows an earlier round of layoffs in August last year, which reduced its then-headcount by 12%. Permutive said it wants to focus on profitability amid a challenging economic environment and drop in venture funding. UK-based adtech company Permutive this week announced a layoff that is expected to affect just under 80 staffers, or about 40% of its headcount, Insider has learned.Staffers in the company’s UK office have now entered a formal consultation process. UK employment laws stipulate employers laying off…

Co-produced with Philip Mause. It is never pleasant to contemplate or plan for one’s demise, but part and parcel of retirement planning is determining whether and to what extent to plan to convey assets to heirs. There is enormous variation – especially of late – in family structure as well as the sense of obligation various family members feel for one another. Bearing this variation in mind and conceding that generalizations do not apply in many instances, we can still discuss certain types of situations and their investment implications. In thinking through the impact of these considerations about investment strategy,…

The fighting that has erupted in Sudan between the country’s armed forces and a paramilitary group known as the Rapid Support Forces pits the president against his vice-president in a struggle for control of Africa’s third-largest country. Both men had emerged as leaders of the transitional government after a 2019 coup that ousted Omar al-Bashir, who had ruled over the country as a dictator for 30 years.Now General Abdel Fattah al-Burhan, president of Sudan’s military government, and his rival Lt General Mohamed Hamdan Dagalo, better known as Hemeti, vice-president and head of the RSF, are in open warfare. Some fear…

Republican presidential hopeful Nikki Haley’s campaign publicized earlier this month what it boasted as a strong haul for her 2024 bid: The former South Carolina governor had raised “more than $11 million in just six weeks,” according to a campaign release. But official filings with the Federal Election Commission on Saturday night show the campaign appears to have double-counted money routed among Haley’s fundraising committees, overstating the topline figure. Instead, the three committees connected to Haley raised a total of $8.3 million – still a sizable showing for a first-time presidential candidate but not the figure publicly touted by the…

Residential solar power companies will likely see falling demand in 2023 as California—the largest solar market in the U.S.—slashes the benefits homeowners can get for installing solar systems on their rooftops. For more than two decades, California homeowners with rooftop solar panels have been able to sell surplus electricity back to the state’s energy grid and receive a near dollar-for-dollar credit on their electricity bills. These so-called “net metering” incentives have helped more than 1.6 million California homes and businesses go solar.   Starting on Saturday, however, new buyers will earn a much smaller credit for each kilowatt of electricity they feed…