Author: News Room

In France, the latest production of the ‘Three Musketeers’ is hitting cinemas and it is feted for being the most expensive French film ever made. My attention however is focused on another of Alexandre Dumas’ works, ‘The Count of Monte Cristo’, where the main character Edmond Dantes, deviously wronged as a young man, eventually escapes prison on Chateau d’If, builds a fortune and then exacts revenge on his rivals. The book was set around the time of Napoleon’s escape from Elba, but this time I associate it with another well know political figure, Donald Trump. If he read books, Trump…

The yield curve is one of the most robust recession predictors and has signaled a recession may be coming since mid 2022. In contrast, U.S. stocks as measured by the S&P 500 are up materially from the lows of last October and only just below year-to-date highs, seemingly rejecting recession fears. Yet, fixed income markets see the Fed potentially cutting rates by the summer, perhaps reacting to a U.S. recession. The Evidence From The Bond Markets The recessionary evidence, at least from fixed income markets, is mounting. The 10 yield Treasury yield has been below the 2 year yield consistently…

The rise of personal finance education on TikTok plays an instrumental role in expanding fintech companies’ products and services to a broader audience, particularly women, Gen Z, and many marginalized communities. Financial education gained newfound cultural relevance in 2020, primarily due to pandemic-fueled lockdowns spurring increased engagement in personal finance content on TikTok. This carried into the world of fintech, with 79% of users looking for education around starting an emergency fund, improving credit scores, and creating a savings habit from their fintech applications, according to Plaid’s 2022 fintech effect report. In response to this demand, many companies like Current,…

The world has endured a lot recently – a pandemic, supply chain disruptions, inflation, and natural disasters. Having learned from these trials, has the world become more resilient in the face of climate and business threats? Unfortunately, the numbers show there is a long way to go. In fact, the world is arguably becoming less resilient. Although business owners are making some of the easier improvements in resilience (promising better years in the near future), others will take years to execute and yield results. These measures need to be started now to reverse the trend. Rising Financial Losses Over the…

By Giuseppe Fonte ROME (Reuters) – Italy is likely to confirm its budget deficit targets for this year and next, people familiar with the matter said, as the Treasury aims for tighter fiscal policy to limit the impact of rising euro zone interest rates. In its Economic and Financial Document (DEF) to be unveiled next week, the Treasury aims for a 2023 fiscal gap at 4.5% of gross domestic product, unchanged from the target set last November, the people told Reuters. The government is also expected to keep its 3.7% deficit goal for 2024. Last year, Italy reported a budget…

By Ambar Warrick Investing.com — Asian currencies moved in a flat-to-low range on Wednesday, while the dollar stuck to two-month lows as weak economic data fueled increasing concerns over an economic slowdown this year. The was the sole outlier among global currencies, rallying 0.6% after the hiked rates by a bigger-than-expected 50 basis points, and flagged more action against high inflation. But the central bank also warned of slowing economic growth, as the country recovers from the impact of cyclone Gabrielle earlier this year. But most other currencies trended lower, with trading volumes in Asia also muted on account of…

By Laura Sanicola (Reuters) – Oil prices settled largely unchanged on Wednesday, despite greater-than-expected draws in and fuel stockpiles, as the market weighed worsening economic prospects against expectations of U.S. crude inventory declines and plans by OPEC+ producers to reduce output. futures settled up 5 cents, or 0.1%, at $84.99 a barrel, while West Texas Intermediate crude ended 10 cents, or 0.1%, lower at $80.61 a barrel. U.S. crude inventories fell 3.7 million barrels last week, about 1.5 million barrels more than forecast, government data showed. Gasoline and distillate stocks also fell more than expected, drawing down by 4.1 million…

© Reuters. FILE PHOTO: The logo for McDonald’s restaurant is seen as McDonald’s Corp. reports fourth quarter earnings, in Arlington, Virginia, U.S., January 27, 2022. REUTERS/Joshua Roberts (Reuters) -McDonald’s Corp is cutting pay packages for some employees as part of a restructuring that includes layoffs and the shutting down of some offices, the Wall Street Journal reported on Friday, citing people familiar with the matter. Reuters on Monday reported that the number of corporate employees the company was planning to lay off this week will tally in the “hundreds.” The fast-food chain has offered some employees a chance to remain…

Eurozone inflation slowed to a 13-month low in March but underlying price pressures intensified, highlighting the dilemma for the European Central Bank over the pace and size of further interest-rate increases. The consumer price index–which measures what consumers pay for goods and services–increased 6.9% in March on year, easing from an 8.5% rise in February, preliminary data from the European Union’s statistics agency Eurostat showed Friday. This marks the lowest inflation rate since February 2022. The reading is below the 7.1% consensus forecast from economists in a poll by The Wall Street Journal. Inflation eased in March due to falling…

Dear Quentin, My dad died in September in Pennsylvania (although he was a Florida resident), and my stepmother insists there is no will and no estate, but then she texted to say that my father wanted me to inherit an account that listed my late mother as beneficiary. The insurance company told me this account was valued at $80,000 and it would need to go to probate. A few weeks later they emailed and said they decided that all of it should go to my stepmother as my dad forgot to change the account from my mom as beneficiary to…