Author: Press Room

“‘I believe interest rates are going to be higher for longer…I believe inflation is going to be stickier for longer. In other words I think we’re going to have a 4%-ish floor on inflation.’” — Larry Fink, BlackRock Inc. That’s BlackRock Inc. BLK, +3.07% Chairman and CEO Larry Fink arguing that global “fragmentation” and reshoring of supply chains means policy makers will struggle to bring inflation down to the Federal Reserve’s 2% target. In an interview with CNBC, Fink blamed geopolitical issues, with a decadeslong process of globalization giving way to “fragmentation.” “If we want to have national security for…

There’s more to Albert Hammond Jr. than the Strokes. Yes, the veteran guitarist — and son of singer-songwriter Albert Hammond — is a member of the group that helped bring a rough-and-ready sound back to rock a little more than 20 years ago. Along the way, the Strokes have won all sorts of acclaim, including a Grammy for best rock album in 2021 — proof that they’ve maintained their edge over time. But Hammond has also built a multifaceted career that incorporates his own solo efforts — he’s released a handful of albums, with more music on the way —…

April is National Financial Literacy Month. To mark the occasion, MarketWatch will publish a series of “Financial Fitness” articles to help readers improve their fiscal health, and offer advice on how to save, invest and spend their money wisely. Read more here.Dear Quentin, When my kids were younger, I added them as authorized users on my credit card. I did this in case of emergency, and to jump-start their credit. They are now adults, 25 and 29. My son has his own house and credit card and has a decent credit score. My daughter tries to live a very simple…

The one-month Treasury-bill rate fell below 3.9% on Thursday after March data showed the biggest decline in wholesale prices in almost three years, though other yields finished mostly higher. What happened The 1-month T-bill rate TMUBMUSD01M, 4.109% fell 27.7 basis points to 3.863% as of 3 p.m. Eastern time versus Wednesday’s closing level, according to Tradeweb. That’s the lowest level since late December. The yield on the 2-year Treasury TMUBMUSD02Y, 4.109% was little changed at 3.975% versus 3.970% as of Wednesday, according to 3 p.m. figures from Dow Jones Market Data. The yield is up five of the past six…

© Reuters. By Anna Tong and Dan Whitcomb SAN FRANCISCO (Reuters) -A tech executive was arrested on Thursday for the stabbing murder of Cash App founder Bob Lee in San Francisco, police said, stressing that the suspect knew the victim but declining to discuss a possible motive for the crime. Lee was found stumbling through the streets of San Francisco at around 2:30 a.m. Pacific Time on April 4 bleeding from a stab wound. Lee, 43, later died of his wounds at a hospital. Nima Momeni, the 38-year-old founder of software company Expand IT, was arrested on suspicion of murder…

By Barani Krishnan Investing.com — Oil markets rose for a fourth consecutive week, riding on global energy agency IEA’s upgraded demand prospects for 2023, although gains for Friday were cut by a resurgent , which is usually bearish for commodities. New York-traded  West Texas Intermediate, or , settled up 36 cents, or 0.4%, on the day at $82.52 a barrel. For the week, the U.S. crude benchmark rose 2.3% from the March 6 settlement of $80.70. London-traded , the global benchmark for crude, settled up 22 cents, or 0.3%, at $86.31. For the week, Brent gained 1.4%. Crude prices lost…

By Marc Jones LONDON (Reuters) – is likely to drop sharply and could near 30 to the dollar following next month’s elections, bankers at JPMorgan (NYSE:) have predicted, if it looks like only modest changes will be made to its unorthodox economic policies. Turkey’s tightly contested presidential and parliamentary elections on May 14 are perhaps the most consequential in the century-long history of the republic. They mark a fork in the road for both Turks battered by an inflation-driven cost of living crisis and for international investors, many of whom have bailed out of the country amid recurring bouts of…

By David Lawder and Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund’s steering committee on Friday said it would accelerate its discussions on quota reforms at the global lender with an eye to making “considerable progress” by its next meeting in October. Spanish Economy Minister Nadia Calvino, who chairs the International Monetary and Financial Committee (IMFC), said members were committed to revisiting the adequacy of the IMF’s quotas for shareholders and completing a review by Dec. 15. “In this context, we support at least maintaining” the IMF’s current lending resources, Calvino said in a summary of the committee’s work. “We…

Earnings announcements from Citigroup C , JP Morgan, PNC, and Wells Fargo WFC on Friday made many stock investors jubilant. It is important to note that earnings are a lagging indicator; they tell you how a bank has performed. The indicator that is much more helpful to decipher where banks’ financial health might be headed is banks’ provision for credit losses. Provisions for credit losses normally include banks’ provisions for credit losses for loans, debt securities, and interest-earning deposits with banks. managers have all increased credit provisions in key areas of their loan and bond portfolios. This is prudent risk…

Union Pacific (NYSE: UNP) will report its Q1 2023 results on Thursday, April 20. We expect it to post upbeat results, with revenue and earnings coming in slightly above the street expectations. The company should continue to benefit from better price realization. However, our forecast indicates that UNP stock has little room for growth, as discussed below. Our interactive dashboard analysis of Union Pacific Earnings Preview has additional details. (1) Revenues expected to be slightly above the consensus estimates Trefis estimates Union Pacific’s UNP Q1 2023 net revenues to be around $6.15 billion, reflecting a 5% y-o-y growth and slightly…