Author: News Room
Tuesday April 11th 2023 – Ecoterra, a web3-based recycle-to-earn app, has made a significant splash in the crypto community as its presale fundraising amount doubled within just 24 hours.The presale is likely to have completed half of its targeted first-stage total of $400,000 within the next few hours. FOMO (fear of missing out) is definitely building up. The Ethereum upgrade and renewed focus on bitcoin mining’s electricity usage has served to draw more attention to sustainable crypto, but it is probably the news of top brands joining ecoterra’s database of scannable recyclables that has lit the fire.Barely a week since the presale…
The banking crisis could help the Federal Reserve’s fight to bring down inflation, but the central bank needs to be “cautious” in its actions moving forward, Chicago Fed President Austan Goolsbee said Tuesday. Goolsbee, the newest Fed appointee, spoke before the Economic Club of Chicago and addressed the “new, big, hairy elephant in the room” that was the recent failure of two regional banks, Silicon Valley Bank and Signature Bank, and subsequent market turmoil. “At moments of financial stress like this, the right monetary policy is really caution and watchfulness and prudence,” he said. “And I don’t say that because…
By Michael S. Derby NEW YORK (Reuters) – Americans said last month that access to credit was at its toughest level in nearly a decade, as they also braced for higher levels of inflation over the next few years, a report from the New York Fed said Monday. In the March Survey of Consumer Expectations, the bank found that the share of households who said credit is harder to get versus a year ago rose to the highest level in a survey that dates back to 2014. The bank’s report also said, “respondents were more pessimistic about future credit availability…
(Reuters) – U.S. power consumption is expected to slip about 1% in 2023 from the previous year as milder weather slows usage from the record high hit in 2022, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday. EIA projected that electricity demand is on track to slide to 4,000 billion kilowatt-hours (kWh) in 2023 from a historic high of 4,048 billion kilowatt-hours (kWh) in 2022, before rising to 4,062 billion kWh in 2024 as economic growth ramps up. Less demand coupled with more electricity generation from cheap renewable power sources and lower prices…
3/3 © Reuters. FILE PHOTO: Customers line up outside of the Silicon Valley Bank headquarters in Santa Clara, California, U.S. March 13, 2023. REUTERS/Brittany Hosea-Small 2/3 By Lawrence Delevingne (Reuters) – As First Republic Bank (NYSE:)’s share price fell by double-digits in the aftermath of the collapse of Silicon Valley Bank last month, some people close to the San Francisco-based lender were worried short sellers were exacerbating its travails, according to a source familiar with the situation. Investors who wager shares in a company will fall were increasing bets on First Republic’s stock when it was already taking a beating,…
The failure of three midsized U.S. banks and subsequent financial stress is not likely to be a “big negative” on the U.S. economic outlook, said New York Fed President John Williams, on Tuesday. “The banking system has really stabilized…but we are going to have to watch carefully,” Williams said, in an interview on Yahoo Finance. “The bank failures add to uncertainty about the outlook,” Williams said. He added that he still expects the economy to grow, at a pretty modest rate, this year. Williams said that it is still “early days” to spot tightening of credit conditions in light of…
Hello and welcome to Financial Face-off, a MarketWatch column where we help you weigh financial decisions. Our columnist will give her verdict. Weigh in on whether you think she’s right in the comments. And please share your suggestions for future Financial Face-off columns by emailing our columnist at [email protected] you’re not already a pet owner, headlines about pandemic pets — or perhaps your social media feed being flooded with adorable fur baby photos for National Pet Day — may have you pondering pet parenthood. Some people strongly identify as either a cat or dog person, but others feel more flexible…
Tesla has been busy in the last five months, particularly with revising the price tags on its electric vehicles. In that short time, the EV maker has cut prices, cut them again, raised them, reported record quarterly deliveries, and then once more cut prices. It all makes a different for demand, profits, and the share price of the EV leader. Tesla late last week, reduced prices in the U.S. across its EV lineup. That came a few days after Tesla reported record quarterly delivery on April 2. Tesla delivered 422,875 vehicles in the first quarter. Tesla (ticker: TSLA) first cut…
Boeing ‘s March jet deliveries surpassed Wall Street estimates. That raises the chance Boeing could do something investors would love to see: Beat quarterly earnings estimates. Boeing (ticker: BA) said Tuesday it delivered 64 commercial jets in March—including 52 MAX jets and 11 wide-body, twin-aisle jets (which included seven 787s). For the first quarter, Boeing delivered 130 jets overall, a little better than the 120 Wall Street had expected and outpacing the 95 jets it delivered in the first quarter of 2022. Boeing stock was up 1.1% just before delivery numbers were released Tuesday. The early gains came after the…
Tennessee Republican Gov. Bill Lee on Tuesday urged the state’s legislature to pass additional gun control measures, an especially charged subject in a state that recently suffered a school shooting and the acrimonious expulsion of two Black Democratic lawmakers who called for greater firearm restrictions. “I’m asking the General Assembly to bring forward an order of protection law. A new strong order of protection law will provide the broader population cover, safety, from those who are a danger to themselves or the population,” Lee said at a news conference, adding that he would like legislators to pass the legislation within…
