Author: Press Room
France’s Constitutional Council on Friday approved President Emmanuel Macron’s controversial raising of the retirement age, as nationwide protests rumbled on.The council passed the core of the pension reforms, including the increase in the retirement age for most workers from 62 to 64, but removed six additional provisions as had been expected.It also rejected a bid to hold a citizens’ referendum on the changes.Macron’s unpopular plan to raise France’s retirement age was enacted into law Saturday. The president’s signature and publication in the Official Journal of the French Republic allowed the law to enter into force. The authorized changes will start…
A line of Chicago mayors heavily courted Walmart over the last two decades, brushing aside community protests. And Walmart welcomed the opportunity to show cities it could be a strong corporate partner. But now, Walmart is pulling back from Chicago. The largest retailer in the country announced plans this week to close four of its eight stores in the city, citing growing financial losses. Three are in predominantly Black and low-income neighborhoods, and their closures with little warning mean residents — including elderly citizens and people without reliable transportation — will have to travel further to buy groceries and pick…
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A Georgia man who stole more than 50,000 Bitcoin from the Silk Road marketplace in 2012 has been sentenced to a year in prison.In a Friday press release, the US Justice Department said James Zhong has been sentenced to one year and one day in prison for charges related to executing a scheme to steal more than 51,680 Bitcoin from the Silk Road drug-trafficking site. The DOJ noted that Zhong has been charged with one count of wire fraud for unlawfully obtaining approximately 50,000 Bitcoin from the Silk Road dark web internet marketplace.According to the federal agency, in 2021, US police searched Zhong’s…
Even the most expensive, extravagant homes can fall into disrepair without proper care. These mansions were likely worth the equivalent of millions of dollars when they were built. Years later, they sit abandoned in varying states of deterioration. 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 When they were built, these lavish homes were likely worth today’s equivalent of millions of dollars. Now, they’re falling apart.From a villa that’s been sitting empty for 70 years on an island in upstate New York to a…
Elon Musk hinted at his plans for “X,” an “everything app,” after Twitter reportedly merged into X Corp. Musk has discussed his plans for a WeChat-like app on Twitter and in private texts over the years. Here’s everything we know about the billionaire’s plans for X and Twitter. 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 Since Elon Musk bought Twitter last year, his master plan for creating an “everything app” has begun to take shape.On Tuesday, the billionaire cryptically hinted at his plans…
Author’s note: Funds are in USD unless marked with C$ for Canadian currency. Investment Thesis Debt-free Parex Resources (TSX:PXT:CA) announced a 50% increase to it quarterly base dividend in February 2023. The company has committed to returning at least one third of FFO and 100% of FFF to shareholders. In addition to dividend growth, the company has reduced its share count by over one third since 2017 through share repurchases. Following a year of record production, Parex expects another 14% boost to oil output in 2023. Parex operates in Colombia where it is subject to geopolitical risks that can have…
Panama expects to be removed soon from a “grey list” of countries that are not doing enough to combat money laundering, following years of pressure to clean up its financial system in the wake of the Panama Papers scandal.President Laurentino Cortizo told the Financial Times that the Central American nation was completing work on a beneficial registry of company ownership, one of the last outstanding tasks assigned by the Financial Action Task Force, an international watchdog. “We are expecting to leave FATF [’s grey list] soon, we are expecting it this year,” the president said. “We have made an enormous…
Democratic Gov. Jared Polis of Colorado signed a trio of bills Friday that further protect the rights to abortion and gender-affirming services in the state, as access to the so-called abortion pill across the country remains in limbo and some neighboring conservative states have moved to restrict such procedures. Polis’ signature comes a year after he signed a measure to codify the right to abortion into Colorado law, months before the US Supreme Court eliminated federal protections for abortion rights by overturning Roe v. Wade. At the same time, conservative neighboring states Oklahoma and Wyoming have passed strict abortion bans,…
The ingredients are in place for an explosive U.S. stock-market rally, but there’s still room for doubt about whether the bears have been vanquished, a closely followed Wall Street technical analyst argued Thursday. The S&P 500 index SPX, -0.21% is headed toward a pair of important resistance levels on the price chart as it rallies off its March 13 intraday low at 3,809, said Mark Arbeter, president of Arbeter Investments LLC, in a note. A stumble by the large-cap benchmark that began in February had put it on track for a test of a downside target of 3,656, based on…
