Author: News Room
The numbers: The U.S. budget deficit hit $1.1 trillion in the first half of fiscal year 2023, the Treasury Department said Wednesday, $432 billion more than the shortfall in the same period a year ago. That includes a March deficit of $378 billion. Details: The wider deficit is mostly due to increased government spending, which rose by 13% in the first six months of fiscal 2023. Revenues were 3% lower from October through March than during the year-ago period. Big… Read the full article here
If your rent was due and you were a few hundred dollars short, and you could quickly get approved for a $700 loan with a low fee, would you be interested? A growing number of consumers are answering yes to this question, and banks and credit unions are increasingly meeting their needs with small-dollar loans, which are generally defined… Read the full article here
There’s more to Albert Hammond Jr. than the Strokes. Yes, the veteran guitarist — and son of singer-songwriter Albert Hammond — is a member of the group that helped bring a rough-and-ready sound back to rock a little more than 20 years ago. Along the way, the Strokes have won seven Grammy Awards, including one for best rock album in 2021 — proof that they’ve maintained their edge over time. But… Read the full article here
Stock were mixed Wednesday after consumer prices in the U.S. climbed at a 5% annual pace in March, a slowdown from February as energy costs declined. But core prices, which strip out food and energy categories, accelerated last month. These stocks were making moves Wednesday: American Airlines (ticker: AAL) declined 8.7% after the carrier said in a filing that it expects first-quarter adjusted earnings of between 1 cent and 5 cents a share. Analysts surveyed by FactSet anticipated profit of 5 cents a share.The stock was the worst performer on the S&P 500 on Wednesday. Shares of United Airlines (UAL) shed 5.3%, and…
Democratic Minority Leader Hakeem Jeffries has said he had only a “vague recollection” of the controversy surrounding his uncle, Black studies professor Leonard Jeffries, who eventually lost his job over incendiary comments about Jewish people. CNN’s KFile looks into Jeffries’ past defense of his uncle.Source: CNN Read the full article here
Several Federal Reserve officials considered forgoing an interest rate rise last month amid the worst banking turmoil since the 2008 crisis, but ultimately decided to press ahead due to persistently high inflation, according to an account of their most recent meeting.Minutes from the March gathering, at which the US central bank raised its benchmark policy rate by a quarter-point, showed the Fed was chiefly focused on persistent price pressures — even after the recent banking turbulence upended expectations about the trajectory of the economy.The rate rise, which lifted the federal funds rate to a new target range of 4.75-5 per…
Thesis Petrobras (NYSE:PBR.A) (NYSE:PBR) appears to be the perfect name for an investor looking for cash flows with an attractive dividend policy and high margins, though risks remain thanks to the Brazilian state’s ownership of the company. The preferred shares – PBR.A – are trading at a discount to the common shares – PBR – due to their lower liquidity and lack of voting rights, but this discount makes these shares the more attractive of the two. All factors considered, the Petrobras preferred shares appear to be trading at around fair value, and as such rate as HOLD. Author’s Representation…
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The cryptocurrency market has been factoring in the recently released US CPI figures, which have underperformed expectations. Many speculate on how this crucial economic indicator will impact Bitcoin’s price trajectory.In this article, we will delve into the potential implications of the inflation report on Bitcoin’s price, evaluating various factors that may contribute to an upswing or a continued downturn in the digital currency’s value.Slowing Inflation: US Consumer Price Increases Ease in MarchUS consumer price increases slowed down in March compared to the high levels seen last summer. According to the Bureau of Labor Statistics, annual inflation measured by the Consumer…
Billionaire investor Warren Buffett isn’t worried about the state of the US banking industry — but he would like to see much tougher consequences for top leaders of the banks that fail. In the wake of the failure of Silicon Valley Bank, Buffett reflected on the public’s frustration after the 2008 financial crisis. “All kinds of trouble [was] caused by the banks. But bank executives … they all continue to live fine. They may have lost their job, but they got their pensions,” he said in an interview Wednesday with CNBC. “There have got to be consequences to the people…
