Author: News Room

By Erin Flynn Jay, Next Avenue Liz Elting was a 26-year-old graduate student in 1992 when she cofounded a business in her dorm room, a language-translation service that grew into a $1.1 billion company called TransPerfect. She cashed in her stake in 2018 but has no intention of retiring — and doesn’t think you should, either. Elting established a charitable foundation (Elizabeth Elting Foundation) when she left TransPerfect, and she is still looking for opportunities, saying it’s never too late for older adults to start something new. “They’ve learned a lot by the time they’re 50 plus, 60 plus, 70…

By Selena Li and Summer Zhen HONG KONG (Reuters) – China’s financial sector regulator is looking into the exposure of the Hong Kong units of domestic banks and insurers to the country’s local government debt, three sources with knowledge of the matter said, as part of its efforts to contain credit risks. The National Financial Regulatory Administration (NFRA) asked the Hong Kong-based units of Chinese banks and insurers this week to report their holdings of dollar debt issued by so-called local government financing vehicles (LGFV), said the sources. The regulator mainly asked them to reveal their exposure to offshore bonds…

Investing.com – The U.S. dollar firmed in early European trade Wednesday, shrugging off signs of U.S. economic weakness ahead of the release of this week’s key inflation data as traders look for clues as to when the Federal Reserve will start cutting interest rates. At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% higher at 104.080.  U.S. inflation to prove sticky? Data released on Tuesday showed that orders for U.S. fell a hefty 6.1% last month, while the Conference Board’s was revised lower for January and declined further…

By Jarrett Renshaw and Leah Douglas (Reuters) -The Biden administration on Friday said its new climate modeling for sustainable aviation fuel feedstocks will be released in a matter of weeks, marking a delay sources said was due to disagreements over details of the revisions. The slow progress on the revised modeling has frustrated the biofuels industry by extending uncertainty over whether corn-based ethanol will be able to qualify for lucrative new subsidies for SAF production included in the Inflation Reduction Act. A White House spokesperson said the revised model would be finalized in the coming weeks. The administration has been…

President Joe Biden defended his handling of the economy hours after a key economic report found that progress on slowing inflation has stalled, a continued bane on Biden’s presidency. US consumer prices picked up again last month, marking a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics. Inflation has dogged the president and his approval ratings on the economy have suffered as prices have soared following the easing of the Covid-19 pandemic. Biden pointed to success “dramatically” reducing the rate of inflation from…

Stay informed with free updatesSimply sign up to the US inflation myFT Digest — delivered directly to your inbox.Traders slashed bets on Federal Reserve interest rate cuts on Wednesday after US inflation surpassed expectations and Joe Biden acknowledged there was “more to do” on fighting price rises.Bond yields jumped, stocks slid and markets pushed back their forecasts of summer rate cuts after official data showed a 3.5 per cent increase in consumer prices for the year to March.“Today’s report shows inflation has fallen more than 60 per cent from its peak, but we have more to do to lower costs…

MSP Recovery (NASDAQ:LIFW) has had a turbulent history since its 2022 SPAC merger which initially valued the healthcare claims recovery specialist at $37 billion. A string of disappointing results failed to justify that lofty valuation, and some ongoing legal disputes have driven shares to a nearly catastrophic 90% decline over the past year. Fast forward to the present and we see that the company received some welcomed news as artificial intelligence giant Palantir Technology Inc (PLTR) recently disclosed a 6.5% equity stake. While the extent of that relationship goes back since a 2021 engagement, the apparent reaffirmed nod of confidence…

Last updated: April 10, 2024 12:17 EDT | 2 min read In the dynamic realm of cryptocurrencies, BlockDAG is taking center stage, fueled by the excitement surrounding its second whitepaper release. This anticipation is driven by predictions of an ROI reaching 20,000x, bolstered by a formidable $15.5 million amassed during its presale. This achievement is a testament to BlockDAG’s potential and showcases its significant impact, which is highlighted by a notable display on the Las Vegas Sphere. As a result, BlockDAG is rapidly emerging as a significant competitor, challenging the latest advancements from Cardano and Chainlink with its innovative approach.Cardano’s…

A potato chip commercial that features nuns receiving the crispy snacks for communion is “blasphemy” and should be taken off the air, according to an Italian Catholic organization. The spot by Amica Chips features doe-eyed young nuns inside a convent delighting that their communion wafer, known as the host, is actually a potato chip. A mother superior figure looks on as the nuns giggle, and it is revealed that it was her that substituted the hosts for potato chips in the box where communion wafers are kept, called a tabernacle. Catholics believe the communion wafer represents the body and blood…

The share price of Trump Media was down by more than 10% on Wednesday afternoon, putting the company’s market capitalization below $5 billion.DJT shares were selling for $33.58 at 1:46 p.m. ET, well below the $70.90 that the stock opened trading at on March 26, its first day as a publicly traded company.Trump Media’s share price is down 45% for the month to date.On Wednesday shares fell below the $36.94 closing price of the former shell company, Digital World Acquisition Corp. on March 22, the day DWAC shareholders approved the merger with Trump Media that took that company public days…