Author: Press Room
Key News Asian equities were largely higher less Mainland China though Hong Kong, Australia, and the Philippines were closed for Easter Monday. China stocks eased after Friday’s gains as ChatGPT-like tech stocks were hit with profit taking, sending the STAR Board lower by -2.74%. Ten new companies listed today in Mainland China under the new listing standards, which include no limit on stock movement for the first five trading days. The top-performing IPO was Shenzhen CECport Technologies (001287 CH), which gained a mere +221%. The new standards are not necessarily “looser,” though streamline the IPO process, which should increase the…
Central banks accumulated gold at the fastest pace on record in the first two months of 2023, according to a report by the World Gold Council’s (WGC) Krishan Gopaul. In January and February, central banks collectively bought a net 125 tonnes of the metal, the highest amount for the year-to-date period since banks became net buyers in 2010. The countries reporting the largest purchases in the first two months were Singapore (51.4 tonnes), Turkey (45.5 tonnes), China (39.8 tonnes), Russia (31.1 tonnes) and India (2.8 tonnes). The Central Bank of Russia published an update on its gold reserves for the…
Artist, writer, and social welfare advocate (and agitator in a good sense) Molly Crabapple recently had an article in The Nation called “The Revolution Against Shady Landlords Has Begun.” It’s an ongoing movement in New York City by many renters and advocates to change laws that would give some leverage to tenants in a housing crisis. As of 2017, almost two-thirds of all housing units in the city were rented by tenants. Half of those tenants spent at least 30% of their income on housing, a figure from city government that defines the category of being rent-burdened. A third of…
From what we can tell, Social Security is sending clawback bills to tens of thousands of Americans for mistakes it made. Social Security’s policy is cruel and unusual. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. Social Security is clawing back benefits it claims it paid by mistake over years if not decades. Terry Savage and I are collecting these horror stories. Send Terry yours at [email protected]. Below is a story we just received. From what we can tell, Social Security is sending clawback bills to tens of…
Artprice.com has released their report, “The Art Market in 2022” and, at 72 pages, it is a comprehensive look at the global art market, which is especially interesting to professional advisors to collectors of Art. For those who do not have the time to read through the report, here are some of the high points: THE GLOBAL ART MARKET: Despite a 19% contraction of the S&P 500 Index in 2022 and a generally precarious global context in terms of public health and energy costs, more than one million artworks appeared at auctions in 2022, of which almost two thirds (65%)…
During the onset of the pandemic, the flexibility to work remotely coupled with record-low interest rates had many home buyers toying with the idea of moving to vacation home markets as shifting priorities and preferences altered where and how people wanted to live. Vacation home sales skyrocketed during the second half of 2020 and through 2021. Page views of for-sale listings soared in metro areas typically considered vacation destinations, such as the Jersey Shore area; Myrtle Beach, South Carolina; Key West, Florida; Lake Tahoe, Nevada; Cape Cod, Massachusetts; and Park City, Utah. Today, it’s a different story. A scarcity of…
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. Based on data compiled by Credible, mortgage rates for home purchases are mixed with two key terms rising and two falling since last Thursday. Rates last updated on April 10, 2023. These rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace, has 5,000…
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. Rates for well-qualified borrowers using the Credible marketplace to refinance student loans fell this week for 10-year fixed-rate loans, and rose for 5-year variable-rate loans. For borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender during the week of April 3, 2023:Rates on…
Taxpayers who sold some investments this year may be able to employ an oft-overlooked tool to whittle down the taxes owed and qualify for a 0% rate. There are three income-based tax brackets on long-term capital gains: 0%, 15% and 20%, as well as a 3.8% Medicare surcharge imposed on the wealthiest Americans. For the 2023 tax season, the 0% rate on long-term capital gains – any asset held for longer than a year – can be applied to taxable income of $41,675 or less for single filers and $83,350 or less for married couples filing jointly. The income limits are…
SHENZHEN, China — Electric vehicle giant BYD is banking on new driver-assist technology to smooth out car rides and get the edge on its EV competition. BYD, backed by Warren Buffett’s Berkshire Hathaway, announced Monday a new technological system for stabilizing car rides through rugged terrain, sharp turns and even shallow water. The shock absorption tech is set to be a feature of the company’s recently launched premium brand Yangwang.”Traditionally, luxury cars were determined by brand and history. For luxury new energy vehicles, it’s a matter of what tech and products,” BYD founder Wang Chuanfu said in Mandarin at a…
