Author: Press Room

Attorney Evan Corcoran recused himself from representing former President Donald Trump in the special counsel investigation related to the Mar-a-Lago documents given that he testified for investigators, two sources familiar with the matter told CNN. Corcoran’s exit, which was first reported by The Washington Post, was an expected development after special counsel Jack Smith’s office forced him to testify without the shield of attorney-client privilege in front of the grand jury and prosecutors accused Trump of using his attorney to advance a crime. Despite recusing himself from the Mar-a-Lago probe weeks ago, Corcoran continues to represent Trump on other matters,…

Investors are increasingly worried about the risk of a U.S. recession, following last month’s banking crisis and as more data points to slowing economic growth.   Still, the stock market has rallied so far this year, with the Dow Jones Industrial Average DJIA, -0.42% up 2.2% and the S&P 500 SPX, -0.21% up 7.7%. The Nasdaq Composite COMP, -0.35%, which has led the rally, gained 15.6% year-to-date, according to FactSet data.  However, a group of Wall Street veterans, who all used to worked at Merrill Lynch and has a combined experience of more than 230 years, were mostly bearish about…

If last summer was the heyday of revenge travel after the pandemic, this summer promises to be much of the same, only more expensive. International travel bookings from the U.S. have increased more than 200% since 2022, according to AAA. Airfares for international flights have jumped more than 30%, and International hotel bookings are up 300% from last year. London is the top European destination for U.S. travelers, with a nearly 350% increase in bookings, followed by Rome, Paris, Dublin, and Barcelona. Canada is also in demand. The surging demand is why ticket prices are rising, AAA said. “Travelers are…

The backlash against corporate ESG policies — or “woke capitalism” as some critics are branding it — may be seen within some companies as an excuse to relax already faltering efforts to promote diversity in their workforce. That would be a serious strategic mistake for the vast majority of businesses. Any company seeking to grow, win more customers, and attract investment should be doubling down on diversity as one of its central metrics for success.  Companies with ethnic and gender diversity have been found to significantly outperform their less-diverse peers. Employers who fail to attract diverse candidates or don’t invest…

The numbers: Mortgage rates dipped for the fifth week in a row, giving would-be home buyers a boost as the cost of borrowing eases. The 30-year fixed-rate mortgage averaged 6.27% as of April 13, according to data released by Freddie Mac FMCC, +6.87% on Thursday.  The 30-year rate was at the lowest level in two months. That’s down one basis point from the previous week. One basis point is equal to one hundredth of a percentage point.  Rates were last at this level in early February. When rates dropped then, existing home sales surged. And mortgage demand is up is…

© Reuters. FILE PHOTO: A nearly deserted Church Street in the financial district in lower Manhattan is seen during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., April 3, 2020. REUTERS/Mike Segar By Isla Binnie NEW YORK (Reuters) – Firms find that investors penalize their stock less for high greenhouse gas emissions if they voluntarily disclose that data, researchers at Lazard (NYSE:)’s climate center said on Friday. Regulators in the United States are working on rules for how companies provide information to help investors gauge their impact on the environment, as part of a…

By Barani Krishnan Investing.com — When it looks too good to be true, it always is. Gold bulls’ fantasy ride was cut short on Friday by a sudden ramp-up in the , which ended with the yellow metal’s sharpest one-day loss in three weeks. The change in the dollar’s fortunes came after Federal Reserve Governor Christopher Waller, one of the central bank’s biggest hawks on interest rates, said he desires more monetary tightening despite evidence that inflation in the United States was coming off four-decade highs. Higher rates benefit the dollar while gold, which is an insurance asset, does not…

By Elizabeth Pineau, Noemie Olive and Ingrid Melander PARIS (Reuters) -French President Emmanuel Macron’s flagship pension reform will enter into force swiftly, officials said on Friday after it received the Constitutional Council’s approval despite months of street protests and strikes. The legislation, which pushes up the age at which one can draw a pension to 64 from 62, remains deeply unpopular, and spontaneous protests broke out when the Constitutional Council’s decision was announced. Protesters gathered outside Paris City Hall holding banners reading “climate of anger” and “no end to the strikes until the reform is withdrawn”, in a sign the…

Alcoa AA is expected to publish its Q1 2023 results on April 19 reporting on a quarter that saw aluminum prices face considerable volatility. We expect the company’s revenues to come in at about $2.76 billion, roughly in line with the consensus estimates. While this would mark a sequential increase of about 4%, it would translate into a year-over-year decline of around 16%. We estimate that earnings will stand at just $0.05 per share, slightly ahead of the consensus, although this would mark a decline from levels of around $2.49 in the year-ago period. So what are some of the…

As the costs for community, public and private universities have shot up over time, “How America Works” host Mike Rowe agreed that college isn’t worth attending anymore when there are more affordable – and sometimes more profitable – learning and career opportunities. “It’s more expensive than it’s ever been, but it’s also more expensive than health care. It’s more expensive than real estate. It’s more expensive than energy,” Rowe said on “Varney & Co.” Friday. “Never in the history of Western civilization has a thing become more exponentially expensive faster than the cost of a four-year degree. That’s fact. If…