Author: Press Room

(Reuters) – The balancing act between slowing growth and sticky price pressures is top of the agenda ahead of U.S. inflation data and the World Bank and IMF Spring Meetings in Washington. Kazuo Ueda takes over the helm at the Bank of Japan while U.S. bank earnings kick off and Switzerland’s parliament debates the UBS-Credit Suisse tie up. Here’s a look at the week ahead in markets from Kevin Buckland in Tokyo, Ira Iosebashvili in New York, Jorgelina do Rosario, Naomi Rovnick and Karin Strohecker in London. 1/ BANKS’ BOTTOM LINES The uneasy calm that has settled over the U.S.…

Markets expect the Federal Reserve to hike rates 0.25-percentage-points at their upcoming May 3 interest rate decision. There’s a 7 in 10 chance of a hike according to fixed income futures, with a 3 in 10 chance of holding rates steady. That’s because with March’s economic data, as reported in April, inflation continues to run hot, compared to the Fed’s target, and recent unemployment numbers don’t imply a recession, despite some potential softness. That said, inflation is moving closer to the Fed’s goal, just at a slower pace than the Fed wants to see. Hawkish Fed Minutes The Fed have…

According to NextEarningsDate.com, the Procter & Gamble PG next earnings date is projected to be 4/21 before market open, with earnings estimates of $1.32/share on $19.27 Billion of revenue. Looking back, the recent Procter & Gamble earnings history looks like this: The company has an impressive long-term earnings per share chart: And with quarterly revenue that looks like this: But earnings reports can often uniquely bring abrupt volatility to a stock, in either direction, as investors digest the fundamental details. And that volatility can be a stock options trader’s dream come true — so such traders will be interested to…

U.S. inflation increased 5.0% for the 12-months ending March 31, 2023. Prices for energy along with used cars and trucks fell by 6.4% and 11.2% respectively, while all other items rose. For example, food prices remain high as food inflation increased 8.5% over the past 12 months. The cost of shelter rose 8.2% and transportation services increased 13.9% during the same period. Will the Fed continue to raise rates? Will the U.S. avoid a recession? What about inflation in the rest of the world? Inflation: Cause The pandemic has left more than a trail of unfortunate deaths and other health…

This is a case that really happened as I report it. A 93 year old grandma played all kinds of sweepstakes and got mailings from them regularly. She loved the excitement of entering contests. She got a letter from one of them, informing her that she had won a huge cash prize. Shortly after, she got a phone call congratulating her on her win. She was so excited. She called her son and reported that she was going to get a million dollars! All she had to do was go to the bank with the lawyer for the sweepstakes company…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. During the week of April 3, 2023, average private student loan rates lowered for borrowers with credit scores of 720 or higher who used the Credible marketplace to take out 10-year variable-rate loans. There was no change for 5-year variable-rate loans. 10-year fixed rate: 7.65%, down from 7.66% the week before,…

The governments of major economies—particularly the U.S. and China—are projected to boost their borrowing in coming years as they spend more on aging populations and a shift to clean energy, the International Monetary Fund said.  Worldwide government debt declined briefly with the end of costly pandemic-related measures, but it is expected to start climbing again this year and keep rising over the coming five years, the IMF said in its Fiscal Monitor report released Wednesday.The projected rise also partly reflects high interest payments on debt, following central banks’ interest-rate increases to combat high inflation. IMF economists cautioned that expanding government…

WASHINGTON – Fallout from the U.S. banking crisis is likely to tilt the economy into recession later this year, according to Federal Reserve documents released Wednesday.Minutes from the March meeting of the Federal Open Market Committee included a presentation from staff members on potential repercussions from the failure of Silicon Valley Bank and other tumult in the financial sector that began in early March.Though Vice Chair for Supervision Michael Barr said the banking sector “is sound and resilient,” staff economists said the economy will take a hit.”Given their assessment of the potential economic effects of the recent banking-sector developments, the…

Former President Donald Trump sued his onetime personal lawyer and fixer Michael Cohen on Wednesday, seeking at least $500 million for alleged breaches of contract and “unjust enrichment.”The civil suit, filed in federal court in Miami, accused Cohen of “spreading falsehoods” about Trump, violating his attorney-client relationship and breaching a confidentiality agreement he had signed with the Trump Organization.related investing newsThe allegations against Cohen, whose once-close relationship with Trump imploded in 2018, come as the disbarred lawyer has become a key witness against the former president in a criminal case in Manhattan.Trump, the first ex-president to face criminal charges, pleaded…

Billionaire investor Warren Buffett isn’t worried about the state of the US banking industry — but he would like to see much tougher consequences for top leaders of the banks that fail. In the wake of the failure of Silicon Valley Bank, Buffett reflected on the public’s frustration after the 2008 financial crisis. “All kinds of trouble [was] caused by the banks. But bank executives … they all continue to live fine. They may have lost their job, but they got their pensions,” he said in an interview Wednesday with CNBC. “There have got to be consequences to the people…