Author: News Room

The first quarter marked a sea change for U.S. banks. Two high-profile failures of institutions with specific problems pointed to further challenges: The long period of super-easy money (which means paying next to nothing for deposits) is coming to an end, as customers shop around for higher interest rates. And signs of an economic slowdown, including a decline in commercial property values, could lead to rising credit losses. Following earnings season, the big banks will undergo their annual regulatory stress tests conducted… Read the full article here

U.S. stock indexes extended the gains in the final hour of trade Thursday as a moderation in wholesale inflation and a jump in weekly jobless claims support the idea that the economy is gradually weakening, while the Federal Reserve may be approaching the end of its tightening cycle. The S&P 500 advanced 1.4% and headed for its best close since February 7, according to Dow Jones Market Data. The Dow Jones Industrial Average rose nearly 400 points, or 1.2%, to 34,046. The Nasdaq Composite jumped 2.1%, led by gains in the communication services and consumer discretionary sectors, which rallied 2.3%…

Former acting Director of National Intelligence Richard Grenell testified Thursday before a grand jury investigating Donald Trump’s handling of classified documents. CNN identified Grenell as he was departing the courthouse in Washington, DC. Grenell was subpoenaed to testify in special counsel Jack Smith’s ongoing criminal probe, according to a source familiar with the matter. While serving in the administration, Grenell embarked upon an effort to declassify documents that were of interest to Trump because the then-president believed they could delegitimize the Russia investigation. Grenell remained in Trump’s orbit even after the former president left office and has been seen at…

The cost of buying insurance against a US government default has shot to its highest level in more than a decade, in an early sign of market concerns about the political impasse in Washington over the debt ceiling.Amid a stalemate between the White House and congressional Republicans on raising the federal borrowing limit, the price of five-year credit default swaps — the most widely traded form of debt insurance — reached its highest since 2012 this month. A default on US federal debt — an outcome US Treasury secretary Janet Yellen has warned would lead to “catastrophe” — is still…

Thesis Summary Bitcoin (BTC-USD) has made a convincing argument over the past few months that a cycle low could be in. However, history shows that we could get a very aggressive pull-back before the Halving takes place. This view is also reinforced by both technical analysis and macroeconomic analysis of liquidity and the business cycle. A Mirror Image of 2019? Let’s begin with a trip down memory lane. This is how Bitcoin behaved leading up to the last halving, which took place on May 11th, 2020. BTC Previous Cycle Price Action (Author’s work) As we can see, Bitcoin bottomed at…

Watch full video on YouTube

The recruitment industry is about to be revolutionized as DeeLance (DLANCE) combines the metaverse and non-fungible tokens (NFTs) to create a seamless, interactive platform for businesses and freelancers.With just 3 days and 8 hours left until the DLANCE token price increases to $0.029 USDT, now is the perfect time to invest in this ground-breaking project.Currently, one DLANCE token is valued at $0.025, and the project has raised $118,386.38 out of their $600,000 goal.When the token is listed on centralized exchanges (CEX), its price is expected to be $0.053 USDT, which would represent a 112% gain for early investors.Revolutionizing Remote Work:…

When customers at Silicon Valley Bank rushed to withdraw billions of dollars last month, venture capitalist Arlan Hamilton stepped in to help some of the founders of color who panicked about losing access to payroll funds. As a Black woman with nearly 10 years of business experience, Hamilton knew the options for those startup founders were limited. SVB had a reputation for servicing people from underrepresented communities like hers. Its failure has reignited concerns from industry experts about lending discrimination in the banking industry and the resulting disparities in capital for people of color. Hamilton, the 43-year-old founder and managing…

A settlement that will allow thousands of student loan debts to be canceled will go into effect after the Supreme Court on Thursday declined to block it.The Supreme Court in a brief order rejected a request made by colleges challenging the settlement.The class-action settlement concerns loans that borrowers claim should be canceled because they were taken out based on misrepresentation made by their schools, many of which are for-profit. The settlement could be worth more than $6 billion.The case arises from a settlement that California-based U.S. District Judge William Alsup approved in November in a case brought by borrowers. The government has already started…

Cryptocurrency investors are facing delays to withdraw funds deposited on the Ethereum blockchain after its major software upgrade, highlighting persistent headaches for Ethereum which aims to have the technology widely used for instant payments. The software upgrade, known as “Shapella,” was set to unlock more than $30 billion worth of ether, the second-biggest cryptocurrency, which investors had deposited on the Ethereum blockchain in return for interest.Until Wednesday’s upgrade, investors could not withdraw funds they had deposited via this method, known as “staking,” on the Ethereum blockchain. As of Thursday, ether worth around $1.4 billion was stuck in a withdrawal queue,…