Author: Press Room
By Peter Nurse Investing.com – The U.S. dollar slipped lower in early European trade Tuesday, handing back some of the previous session’s gains amid uncertainty over the future path of the Federal Reserve’s rate-hiking cycle. At 03:05 ET (07:05 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.2% lower to 102.013, having risen 0.4% last session, bouncing off a two-month low last week. Friday’s official jobs report, released on the Good Friday holiday, had given the greenback a boost as it showed a resilient labor market, with increasing by 236,000 jobs last month,…
By Andrea Shalal WASHINGTON (Reuters) – The U.S. banking system remains strong and resilient, but American officials will continue working with foreign counterparts to bolster financial resilience after recent bank failures, U.S. Treasury Undersecretary Jay Shambaugh said on Monday. Shambaugh said recent bank failures and developments were very different from those of the 2008 global financial crisis, which centered on credit risk, but regulators were working hard to shore up confidence in liquidity both at home and abroad. Shambaugh, speaking at the Brookings Institution think tank ahead of this week’s meetings of the International Monetary Fund and World Bank, said…
If you track a liter of lithium from the bowels of the earth to the Gigafactory, you will learn about the politics of climate change, business-government relations, foreign direct investment (FDI) and the UN’s sustainability development goals (SDGs). Every month, the UN features one of its SDGs that aim to end poverty, protect the planet or ensure that by 2030, all people enjoy peace and prosperity. April’s SDG focuses in part on the cohesion of all 193 governments’ and their policies related to sustainability (e.g. legal and regulatory frameworks). Lithium and other minerals will play a central role, so it…
I started my side hustle in 2020 and grew it to $500,000 in revenue by keeping passion out of my professional life. I’ve heard entrepreneurs and celebrities say things like, “Follow your passion! The money will follow!” When I was desperate to get out of my corporate job, I consumed all the entrepreneurial advice that I could about a strong devotion to your business as a guarantee for success. So, in 2016, I followed my passion for my first business, and founded a company to rent out special occasion attire to women. I thought I hit the jackpot because it…
Wall Street is wrong about the Federal Reserve’s interest rate path, according to former PIMCO chief economist Paul McCulley.Barring a surprise jump in inflation, he believes mounting economic pressures will convince the Fed to stop hiking interest rates next month.”It would be a pause and then a pivot [later this year],” McCulley told CNBC’s “Fast Money” on Tuesday.McCulley delivered his latest forecast less than 24 hours before the government releases the March consumer price index. According to Dow Jones estimates, Wall Street expects a 5.1% year-over-year increase versus 6% in February.”They’re [Fed officials] going to look at the data coming…
The countdown is on. Earnings season is set to kick off Friday with the banks, one of ours among them. The whole sector came under heavy pressure last month after the collapse of Silicon Valley Bank. How the banks deliver could set the market tone in the coming weeks. Much of this mini-banking crisis ties back to the Federal Reserve’s war on inflation, with the rapid rise in interest rates pressuring loan values and increasing competition for deposits. Central bankers are not solely at fault for what happened at SVB on March 10 as management there was clearly out to…
Louis Vuitton, Chanel, Gucci, step aside. Resale clothing shoppers are bypassing previously-owned luxury brands at discounted prices in favor of scoring secondhand mid-tier brands for less. More affordable brands, such as Madewell, Zara, Urban Outfitters, Free People, Anthropologie, Abercrombie & Fitch and Levi’s are now the most popular brands with the best resale value, according to a new joint annual industry report from ThredUp, the world’s largest online thrift and consignment platform, and research and analytics firm GlobalData. Re-worn clothing is a fast-growing market overall that’s expected to reach $70 billion in sales by 2027, from sales of $44 billion…
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Tuesday April 11th 2023 – Ecoterra, a web3-based recycle-to-earn app, has made a significant splash in the crypto community as its presale fundraising amount doubled within just 24 hours.The presale is likely to have completed half of its targeted first-stage total of $400,000 within the next few hours. FOMO (fear of missing out) is definitely building up. The Ethereum upgrade and renewed focus on bitcoin mining’s electricity usage has served to draw more attention to sustainable crypto, but it is probably the news of top brands joining ecoterra’s database of scannable recyclables that has lit the fire.Barely a week since the presale…
Finally… Friday Dan DeFrancesco in NYC, and we’ve got an update on the “cocaine hippos.” First, I need your help. I’m collecting readers’ questions that I’ll answer in next Friday’s newsletter (A mail bag? For a newsletter? Groundbreaking.) So if you’ve got Wall Street-related questions, submit them here.Also, we’ve got a big people move. Merrill Lynch Wealth Management President Andy Sieg is leaving the firm to lead rival Citi’s wealth business. Meanwhile, Lindsay Hans and Eric Schimpf are taking over as co-heads. Read more about Hans and Schimpf here.Fun fact Friday: The concrete used in ancient Rome is actually stronger than…
