Author: News Room

Last updated: May 13, 2024 14:12 EDT | 2 min read Chinese workers are showing a lack of enthusiasm towards the country’s central bank digital currency (CBDC). A report on May 13 revealed that some workers who received their salaries in digital yuan (e-CNY) converted the asset into fiat currency immediately after they were paid, indicating a clear preference for physical cash over the digital alternative.Despite the Chinese government’s efforts to promote the adoption of the digital yuan, a report from the local media outlet South China Morning Post indicates that many workers are hesitant to use it in their…

More than a year after Shein promised to tackle excessive working hours in its supply chain, a new report suggests the Chinese fast-fashion company still has a problem. Workers in some factories supplying Shein are still working 75-hour weeks, according to an investigation by Public Eye, a Swiss human rights advocacy group that first highlighted the alleged abuse back in 2021. “The 75-hour weeks that we found out about two years ago still seem to be common at Shein,” the Swiss organization said. Public Eye interviewed 13 textile workers employed at six factories in Guangzhou, a region in southern China, last…

Major airlines and an industry trade association asked a federal appeals court to toss out a new Department of Transportation rule requiring earlier disclosure of add-on fees during flight booking.The challengers — trade group Airlines for America, and Alaska, American, Delta, Hawaiian, JetBlue and United airlines — argue the DOT exceeded its legal authority when it published the rule, in late April, and that the rule is “arbitrary, capricious” and an “abuse of discretion.”The petition for review was filed in the U.S. Fifth Circuit Court of Appeals late Friday.The Biden administration introduced the airline fee disclosure rule in September 2022.…

The return of “Roaring Kitty” sparked a jaw-dropping advance in GameStop shares Monday, but such a speculative rally in an unprofitable company will likely end badly once again. Roaring Kitty, the man who inspired the meme stock mania of 2021, resurfaced online with a cryptic image showing a man in a chair leaning forward. That was enough to spark a buying frenzy among amateur traders. Shares of GameStop surged as much as 110% higher with a slew of trading halts for volatility. However, from a fundamental standpoint, the brick-and-mortar video game company isn’t deserving of such a pop in the…

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. Borrowers with good credit seeking personal loans during the past seven days prequalified for rates that were lower for 3-year loans and higher for 5-year loans when compared to fixed-rate loans for the seven days before. For borrowers with credit scores of 720 or higher who used the Credible marketplace to…

Mortgage rates increased this week again, marking the second week in a row rates were above 7%. The average 30-year mortgage rate was 7.17%, up from last week when the average was 7.1%, Freddie Mac reported. Last year at this time, 30-year mortgages were slightly better off, but not by much. The average rate was 6.43%.”Mortgage rates continued rising this week,” Freddie Mac Chief Economist Sam Khater said in a press release. “Despite rates increasing more than half a percent since the first week of the year, purchase demand remains steady,” Khater said. “With rates staying higher for longer, many…

In the landscape of wealth management, some elements are, for lack of a better term, sexier than others. Both financial planners and their clients are often drawn to more complex topics, especially those that seemingly pledge to make or save a lot of money. And while those strategies are valid, if not vital, for exploration, others have been relegated to commodity status and are given very little attention—like property and casualty insurance, better known as home, auto, and liability insurance. As for why these foundational risk management tools are often ignored, I’d posit that we are required to have these…

Less than 24 hours after Arizona’s near-total abortion ban was repealed, Kari Lake challenged Democratic Rep. Ruben Gallego, her likely opponent for the state’s US Senate seat, to a debate on the issue – ideally over Mother’s Day weekend. “We owe it to the people of this state not just to state our policies, but to defend our policies,” the GOP candidate said to reporters gathered outsider her campaign office. “And I’m willing to do that.” Within minutes of Lake’s invite, Gallego’s campaign declined. “There’s nothing to debate. Kari Lake’s record is clear,” spokesperson Hannah Goss said in a statement.…

Stay informed with free updatesSimply sign up to the Russian politics myFT Digest — delivered directly to your inbox.Vladimir Putin has replaced two of his longest-serving security officials in a surprise reshuffle, suggesting the Russian president is dissatisfied with the handling of his two-year invasion of Ukraine.Putin, who was sworn in for a fifth term in office earlier this week that extends his quarter-century rule until at least 2030, appointed Sergei Shoigu, the defence minister, to be head of Russia’s security council on Sunday, according to the upper house of parliament. Andrei Belousov, a deputy prime minister and longtime economic…

Warner Brothers Discovery (NASDAQ:WBD) released first quarter earnings last week. The media giant has been scrutinized for earnings performance and high leverage since its merger. Back in February, I took a bullish stand on Warner Brothers Discovery through the sale of cash secured puts. While the first quarter earnings report disappointed by missing both revenue and earnings estimates, I believe there are current and upcoming catalysts to stay bullish on WBD stock. Warner Brothers Discovery Earnings Results Warner Brothers Discovery saw a broad decline in revenue across all segments of its business in the first quarter. Fortunately, the $700 million…