Author: Press Room

The March jobs report was pretty strong by almost any measure. Some 236,000 new jobs. A superlow 3.5% unemployment rate. And more Americans entering the labor force looking for work. Not exactly what the Federal Reserve wanted as it seeks to slow the economy and prevent a tight labor market from exacerbating inflation. Don’t miss: Jobs report ‘likely tips the scales toward another rate hike in May’: economists react to March release Also see: Jobs report shows 236,000 gain in March — lifting 2023 total above 1 million — but U.S. labor market shows hints of cooling So why are…

By Dan Burns and Howard Schneider (Reuters) – The Black unemployment rate hit a record low in March, a milestone for a U.S. labor market that most policymakers and economists expect to begin cooling in the face of higher interest rates, jeopardizing those historic gains. The Black unemployment rate tumbled to 5% last month from 5.7% in February, the Bureau of Labor Statistics said on Friday, perhaps the most notable data point in a report that at once displayed the resilience of the American job market but also the early signs of its vulnerability to the higher borrowing costs engineered…

By Ambar Warrick Investing.com — Asian currencies moved in a flat-to-low range on Wednesday, while the dollar stuck to two-month lows as weak economic data fueled increasing concerns over an economic slowdown this year. The was the sole outlier among global currencies, rallying 0.6% after the hiked rates by a bigger-than-expected 50 basis points, and flagged more action against high inflation. But the central bank also warned of slowing economic growth, as the country recovers from the impact of cyclone Gabrielle earlier this year. But most other currencies trended lower, with trading volumes in Asia also muted on account of…

By Libby George LONDON (Reuters) – Up to $520 billion in debt needs to be written off to help developing nations at greatest risk of default return to a sounder fiscal footing and meet climate and development goals, according to a Boston University report released on Thursday. The haircuts on debt owed to public and private creditors by 61 of the nations that are already in or are at most risk of debt distress are essential to avoid “cascading defaults,” according to calculations from the Boston University Global Development Policy Center and the Debt Relief for a Green and Inclusive Recovery…

© Reuters. The TESLA logo is seen outside a dealership in the Brooklyn borough of New York City, U.S., April 26, 2021. REUTERS/Shannon Stapleton By David Shepardson WASHINGTON (Reuters) – U.S. safety authorities said on Friday they are investigating whether an advanced driver assistance system was in use when a Tesla (NASDAQ:) struck a 17-year-old student that exited a school bus in North Carolina. The National Highway Traffic Safety Administration (NHTSA) said Friday it would open the special crash investigation into a incident in which 51-year-old driver of a 2022 Tesla Model Y in Halifax County on March 15 reportedly…

The yield curve is one of the most robust recession predictors and has signaled a recession may be coming since mid 2022. In contrast, U.S. stocks as measured by the S&P 500 are up materially from the lows of last October and only just below year-to-date highs, seemingly rejecting recession fears. Yet, fixed income markets see the Fed potentially cutting rates by the summer, perhaps reacting to a U.S. recession. The Evidence From The Bond Markets The recessionary evidence, at least from fixed income markets, is mounting. The 10 yield Treasury yield has been below the 2 year yield consistently…

eBay’s stock (NASDAQ NDAQ : EBAY) has gained roughly 7% YTD, which is at par with the rise in the S&P500 index. However, at its current price of $44, the stock is trading 7% below its fair value of $48 – Trefis’ estimate for eBay’s valuation. The company posted better-than-expected results in the fourth quarter of 2022, despite a 4% y-o-y drop in total revenues to $2.5 billion. The top line mainly suffered due to a decrease in the active buyer base, down 9% y-o-y to 134 million. Further, the Gross Merchandise Volume reduced by 12% y-o-y in the quarter.…

Yet another legal dispute over student loan forgiveness may be headed to the Supreme Court, leaving thousands of borrowers unsure of what’s to come. The Supreme Court is already considering two legal challenges over President Joe Biden’s signature one-time debt relief plan. That massive initiative would allow up to 40 million borrowers to receive $10,000 or more in federal student loan forgiveness. The Court held a historic hearing in February where the justices hammered attorneys on both sides of the dispute, and it’s expected to issue a ruling in June. In the meantime, no borrowers have received loan forgiveness under…

Roth IRAs Are Special Roth IRAs are not subject to income taxation (as long as the account has been open for at least five years). There are no during-your-life forced withdrawals for the owner of the Roth IRA – that is, there are no lifetime required minimum distributions, in contrast to RMDs for traditional, tax-deferred IRAs. The owner can withdraw funds from the Roth anytime after age 59 1/2 without triggering income-tax obligations. Again, at no time is the Roth IRA owner forced to take withdrawals. And, it’s income-tax free during the lifetime of the owner, even when the owner…

Proposed regulations for the electric vehicle tax credit, long overdue, are finally out (REG-120080-22). That checks one of the many clean energy guidance projects off the list from the Inflation Reduction Act (IRA, P.L. 117-169), but there are still plenty more to go, including guidance on the direct pay provision in section 6417. Direct pay is one of two provisions added by the IRA that is meant to expand the options for financing clean energy projects beyond traditional tax equity deals. There are important questions that need to be answered in guidance before the direct pay option will be available…