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Let's look at how float -- and price psychology and social media -- led to big moves in Urban One this week.
Main Street investors have grown far more skeptical about the Chinese boycott than Wall Street analysts.
ProPublica obtained IRS information showing how billionaires like Jeff Bezos and Warren Buffett pay little in income tax compared to their wealth.
The Fed’s two-day policy meeting will likely dominate investor behavior this week. Its forecasts could move the markets.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.The Federal Reserve’s much awaited interest-rate meeting this week is just one of a panoply by global central banks whose policies are increasingly diverging as economies respond in different ways to the coronavirus crisis.An anticipated decision in Washington on Wednesday to stay the course with an easing stance for the duration of the American summer may only underscore how what was o
With President Biden about to unleash a potential trillion-dollar spending spree on green infrastructure, ESG investors could see opportunities in the years to come
The big takeaway from the past week in business news is that A) secretly released documents show that billionaires aren’t paying their fair share in taxes. And meanwhile, B) hotels and restaurants and other businesses can’t find enough people to work
(Bloomberg) -- Washington Prime Group Inc., a real estate investment trust that operates enclosed malls and strip centers across the U.S., filed for bankruptcy after the Covid-19 pandemic curtailed in-person shopping.The Chapter 11 filing in Houston will allow Washington Prime to continue operating while it seeks to implement a restructuring agreement that it reached with certain creditors, according to a board resolution filed with the bankruptcy petition. The company, which estimated its asset
With rates staying in a hot zone, over 14 million homeowners can benefit from a refi.
(Bloomberg) -- El Salvador’s bold move to accept Bitcoin as legal tender has Wall Street once again wondering whether a cryptocurrency could really ever replace the old-school dollar.It’s a question that appeared, at least to some, to already be nearly answered after a handful of trailblazing companies -- including Tesla Inc., MicroStrategy Inc. and Square Inc. -- incorporated Bitcoin into their balance sheets without igniting a broader corporate revolution. Now, the focus is turning to governme
(Bloomberg) -- The world’s emergence from the coronavirus pandemic is set to unleash a wave of spending by older consumers, with increasing opportunities for investors in aging-linked stocks.That’s the view of money managers who see huge pent-up demand from wealthy seniors for medical services and luxury goods. They also expect that the forced adoption of the internet by older people during lockdown will open up this demographic permanently to e-commerce companies and social networks.The number
The U.S. debt ceiling comes into effect at the end of July, putting pressure on the Treasury to reduce its cash balance ahead of the deadline. WHAT IS THE DEBT CEILING? The debt ceiling is the maximum amount the U.S. government can borrow, as directed by Congress, to meet its financial obligations.
According to the U.S. Energy Information Administration, jet fuel demand is projected to reach 1.47 million barrels a day during the third quarter, up from 1.13 million in the first quarter and more than 50% higher than a year earlier
(Bloomberg) -- Gold extended a decline as investors await this week’s Federal Reserve meeting for clues on the future path of monetary policy.Fed officials could project interest-rate liftoff in 2023 amid faster economic growth and inflation, but they won’t signal scaling back bond purchases until August or September, according to economists surveyed by Bloomberg. More than half predict the quarterly rate-forecast “dot plot,” released after the conclusion of the central bank’s two-day gathering
(Bloomberg) -- Global bond investors are on the prowl for emerging markets that are ahead of the game on inflation.TS Lombard recommends funds buy local debt from Brazil, where a third interest-rate hike is expected when officials meet Wednesday. PineBridge Investments praised inflation tough talk from Bank of Russia Governor Elvira Nabiullina and predicted gains for the nation’s longer-maturity bonds.Central bankers in the developing world are treading a fine line managing price pressures in pl
Prices of the world's No. 1 crypto on Sunday trade sharply higher after digital-asset bull Elon Musk says Tesla would resume allowing transactions at the vehicle-maker's stores when key members of bitcoin infrastructure can confirm that 50% of the energy used to mine for bitcoin is derived from clean energy sources.
Global shares held near record highs on Monday while U.S. bond yields flirted with three-month lows as investors expect the Federal Reserve to stick to its dovish mantra later this week. Globally, markets were basking in the prospect of a broadening economic recovery from the coronavirus pandemic and anticipation of continuity in dovish monetary policy from the U.S. Federal Reserve. The MSCI world equity index, the U.S. S&P 500 and the pan-regional STOXX Europe 600 index all closed at record highs on Friday.
(Bloomberg) -- Trying to keep up with the frenzied rise of so-called meme stocks might feel a bit like playing a game of whack-a-mole, bewildering analysts and investors alike.While there’s no steadfast definition of what constitutes a meme stock, one common thread across the many names being pitched on social media is a focus on heavily shorted companies. Shares of Reddit icon GameStop Corp. jumped as much as 2,500% in January after day traders noticed its short interest had ballooned to record
(Bloomberg) -- Follow @crypto Twitter for the latest news.Bitcoin jumped above $39,000 after Elon Musk said Tesla Inc. would resume transactions with the cryptocurrency when mining is done with more clean energy.The electric-car maker will allow Bitcoin transactions again “when there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend,” Musk, Tesla’s chief executive officer, said in a tweet.His posting was in reply to a report in Cointelegraph, which cited
The classic mix of stocks and bonds may be a relic of an age long past.
Wages are soaring and jobs opening are at record highs as workers feel empowered to put a price on their dignity.