Author: News Room

This article is reprinted by permission from NerdWallet.  During the early days of the COVID-19 pandemic, the sudden shift to remote work for many launched a wave of think pieces about whether the trend would keep up once the threat of the coronavirus was less imminent. Now, as the Biden administration plans to end the public health emergency come May, recent federal data has the answer: Sort of. Remote work spiked during the pandemic starting in March 2020, but new data from the U.S. Bureau of Labor Statistics shows that boom is winding down. The majority of private establishments —…

China’s consumer inflation in March eased to its lowest level in more than a year, as both food and non-food prices retreated, official data showed Tuesday. The consumer-price index rose 0.7% on year in March, compared with a 1.0% increase in February, the National Bureau of Statistics said. The result marked the lowest reading since September 2021 and undershot the 0.9% increase anticipated by economists polled by The Wall Street Journal. Meanwhile the producer-price index fell deeper into deflation, falling 2.5% compared with a 1.4% decline in the same period a year earlier, it said. The fall was in line…

Talk about taking away the punch bowl just as party gets going. Alibaba Group Holding had only just unveiled its new artificial-intelligence product when the Chinese government swooped in to dampen the mood. Alibaba (ticker: BABA) on Tuesday officially announced its long-awaited ChatGPT-style AI system. On the same day, Chinese regulators detailed draft measures for managing generative AI products, including requiring security assessments. Alibaba said it was launching its generative AI system, to be named “Tongyi Qianwen,” which roughly translates as “truth from a thousand questions.”  Alibaba said the system has English and Chinese language capabilities and will initially be…

The Justice Department said Wednesday it plans to seek a court order to put on hold a federal judge’s ruling from last month that put in jeopardy some of the Affordable Care Act’s mandates for insurers to provide no-cost coverage of preventive care treatments, including certain cancer and STD screenings. “As we’ve said before, for over a decade, the Affordable Care Act has ensured that millions of Americans have access to critical preventative health care,” a DOJ spokesperson said in a statement. “In order to protect Americans who have come to rely on the preventative health care measures at issue,…

A new banking practice at HSBC will target tech and healthcare companies as well as venture capital funds © Reuters HSBC has hired more than 40 investment bankers who used to work at Silicon Valley Bank, the latest move by the British lender to scoop up parts of the failed tech-focused bank.A month after HSBC acquired SVB’s UK subsidiary for £1, the bank is now hiring several dozen of its US bankers from First Citizens, which bought much of SVB in an auction handled by the Federal Deposit Insurance Corporation.The group of ex-SVB bankers will establish a new banking practice…

I’m sure this quote from Warren Buffett has been cited many times by Seeking Alpha authors: “It is wise for investors to be fearful when others are greedy, and greedy when others are fearful.” (Investopedia) It is no stretch to say that investors currently are seriously fearful about regional banks. For example, here is a valuation history for Zions Bancorporation (NASDAQ:ZION) (Note that my book value calculations for ’22 and ’23 exclude “AOCI”, or “accumulated other comprehensive income.” More on that later.): Zions Bank, Yahoo FinanceSources: Zions Bank financial statements, Yahoo Finance ZION stock is by far cheaper today than…

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Tuesday April 11th, 2023 – Love Hate Inu ($LHINU), the unique meme coin utilizing a vote-to-earn model, has successfully raised $3.5 million in under a month.There are less than 72 hours before the price rises from $0.000105 to $0.000115 in Stage 5, so interested buyers need to move fast to grab the current price.The latest milestone achievement comes after it was announced last week that adviser to the UK All Party Parliamentary Group on Crypto and Digital Assets, Carl Dawkins, formerly head of growth at top 10 ranked meme coin Tamadoge, is its new CEO. Dawkins has hit the ground running…

At the start of the year, economists and corporate leaders expressed optimism that global economic growth might not slow down as much as they had feared. Positive developments included China’s reopening, signs of resilience in Europe and falling energy prices. But a crisis in the banking sector that emerged last month has changed the calculus. The International Monetary Fund downgraded its forecasts for the global economy Tuesday, noting “the recent increase in financial market volatility.” The IMF now expects economic growth to slow from 3.4% in 2022 to 2.8% in 2023. Its estimate in January had been for 2.9% growth…

By David Lawder and Andrea Shalal WASHINGTON (Reuters) -World Bank Group President David Malpass said on Monday that the lender has revised its 2023 global growth outlook slightly upward to 2% from a January forecast of 1.7% but the slowdown from stronger 2022 growth will increase debt distress for developing countries. Malpass told a media briefing that the upward revision was due to an improved outlook for China’s recovery from COVID-19 lockdowns, with growth now pegged at 5.1% this year compared to 4.3% in the bank’s January Global Economic Prospects report. Advanced economies, including the U.S. and in Europe, are…