Author: News Room

The start of a financial crisis is like finding rotting food in your fridge. Something starts to smell, and you think you know what’s rotting, but when you investigate you find something that’s much worse at the very back of the fridge that you hadn’t thought about in weeks. This may just be my fridge, but you get the analogy. Commercial real estate loans, sitting at midsize banks throughout the US, are the hidden problem we are all starting to remember. Commercial real estate loans in the US are approaching $2.9 trillion as per the St. Louis Fed, and an…

By Anant Chandak BENGALURU (Reuters) – The Bank of Korea will opt to support a rapidly slowing economy by holding its main interest rate at 3.50% on Tuesday, according to a Reuters poll of economists that showed a slim majority now expect a 25-basis-point cut by the end of 2023. Policymakers at the BoK, who have raised rates by 300 basis points since August 2021, are wary of overtightening an export-dependent economy that is on the brink of a recession, especially when global growth is also slowing. Inflation eased to a one-year low of 4.2% in March, but it is…

By Peter Nurse Investing.com – The U.S. dollar rose strongly in early European trade Monday as surging oil prices raised inflation concerns, which could prompt the U.S. Federal Reserve to lift interest rates at its next meeting. At 03:00 ET (07:00 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.4% higher at 102.560, after earlier breaking past 103 for the first time in a week. The index had dropped 1.8% in March, pressured by concerns that turmoil in the banking sector would hit economic activity, prompting the to pause its monetary tightening cycle…

By Barani Krishnan  Investing.com — stockpiles had their second straight weekly decline last week, petroleum trade group API said in a report Tuesday that was expected to be matched somewhat by forthcoming government data. potentially fell by 4.346 million barrels during the week ended March 31, the API, which stands for the American Petroleum Institute, said. In the prior week to March 24, the API reported a 3.835M-barrel decline, after 10 weeks of builds that officially added some 60M barrels to U.S. crude inventories. Aside from the absolute inventory in crude, the API cited a 1.035M barrel deficit at the…

© Reuters. FILE PHOTO: A logo of Airbus is seen at the entrance of its factory in Blagnac near Toulouse, France, July 2, 2020. REUTERS/Benoit Tessier//File Photo By Tim Hepher PARIS (Reuters) -Airbus deliveries fell by 11% on an industrial basis to 127 jets in the first quarter, underscoring the pressure on global supply chains and paving the way for a 12-week sprint to steady the trajectory by mid-year, industry sources said. Deliveries were down 11% from 142 physical deliveries in the same period last year, or down 9% compared with an adjusted year-ago total of 140. Airbus last year…

The numbers: Banks reduced overall borrowing from the Federal Reserve for the second straight week in the aftermath of the failure of Silicon Valley Bank. They drew $153 billion in credit in the week ended March 29, based on the Fed’s weekly H.4.1. survey. Banks borrowed $164 billion in the prior week and an initial $165 billion in the first week after the failure of SVB. The decline in borrowing suggests stress on the U.S. financial system might be easing after a spasm following the failure of several regional banks. Key details: Banks borrowed $88.2 billion from the Fed using…

April is National Financial Literacy Month. To mark the occasion, MarketWatch will publish a series of “Financial Fitness” articles to help readers improve their fiscal health, and offer advice on how to save, invest and spend their money wisely. Read more here. In the U.S., credit scores are a critical part of a person’s financial life — it rules how much you can borrow, what credit cards you can apply for, and even where you can live. Yet they’re also one of most misunderstood numbers. People often struggle with comprehending why their credit score is too low, or why it…

Exxon Mobil Corp. XOM, -1.66% has held informal talks with Pioneer Natural Resources Co. PXD, -1.06% about a possible acquisition, The Wall Street Journal reported Friday, citing people familiar with the matter. Exxon has been exploring options to put its cash to use and its executives have discussed a potential tie-up with at least one other company, although it sees Pioneer as a top target, according to the report. A deal, if it happens, likely won’t come until later this year or next year, the report said. Shares of Exxon ended Thursday down 1.7%, while Pioneer shares closed down 1%.…

“‘Steve taught me well: never to get married to your convictions of yesterday. To always, if presented with something new that says you were wrong, admit it and go forward instead of continuing to hunker down and say why you’re right.’” — Tim Cook, CEO of Apple That is one key life lesson that Tim Cook, CEO of Apple AAPL, +0.55%, says he learned from the inimitable Steve Jobs before the founder of the Cupertino, Calif.-based company died in 2011. Cook made the remark in an interview with GQ, published online April 3, in which the current Apple leader offered…

Key Democrats hoping to keep abortion access a central part of the 2024 campaign are looking to the 2004 playbook of an old Republican nemesis: Karl Rove. Rove was the architect of ballot initiatives to ban gay marriage placed in swing states to boost turnout for George W. Bush. Now Democrats are pushing ballot measures and an array of other moves to try to capitalize on a backlash to last year’s Supreme Court decision overturning Roe v. Wade, which they say was instrumental in many of their wins in last year’s midterms. “We should put the right to choose on…