Author: News Room

The hedge fund that owned the National Enquirer during the period when it became embroiled in hush-money payments that have led to the criminal indictment of Donald Trump, has been charged in an unrelated action with illegally manipulating bond prices for the company that published the supermarket tabloid. Don’t miss: How Trump’s presidency became inextricably linked with catch-and-kill — setting the stage for his indictment Chatham Asset Management, a New Jersey–based hedge fund, and its founder, Anthony Melchiorre, have agreed to pay a $19.3 million fine for tampering with the sale process for bonds of American Media Inc. in a way that…

U.S. stock indexes opened lower on Thursday after data shows the number of Americans filing for unemployment benefits came in higher than expected last week, a sign suggesting the labor market has softened more than previously believed in the face of higher interest rates. The Dow Jones Industrial Average DJIA, +0.01% dropped 65 points, or 0.2%, to 33,421. The S&P 500 SPX, +0.36% was down 0.3%, while the Nasdaq Composite COMP, +0.76% declined by 0.5%. In the seven days ended April 1, new jobless claims fell to 228,000 from a revised 246,000 in the prior week, topping the 200,000 level…

Hear lawmaker’s message to the Republicans that voted to expel him from the state house Tennessee’s Republican-controlled House of Representatives voted to expel two Black Democratic lawmakers and spare a White lawmaker after they led a gun reform protest on the House floor in the wake of a mass shooting in Nashville that left six dead, including three children. Justin Jones, one of the lawmakers expelled joins CNN This Morning to discuss. Read the full article here

Italian officials are racing to review a deal to sell the country’s largest refinery after the US government privately raised concerns about the sale of the Russian-owned site to a little-known fund in Cyprus.Russia’s Lukoil agreed in January to sell its Sicilian ISAB refinery to GOI Energy, a newly established branch of the Cypriot private equity group Argus. The €1.5bn deal, which overtook a competing offer from US-based Crossbridge Energy Partners and oil trader Vitol, also involves commodity trader Trafigura. Trafigura will provide working capital and crude oil to the facility, and market the refined fuels its produces.The transaction was…

Wall Street wrapped up the short but volatile week on a modestly upbeat note ahead of Friday’s monthly jobs report. Stocks had been wobbly earlier in the week in response to signs of a slowing economy, including weak data on private payrolls and job openings. That marked a change from previous sentiment when investors cheered weak economic numbers in the hope that the Federal Reserve might ease up on its campaign of interest rate hikes. Now the market seems to be struggling to decide whether recession worries or rate hike worries are more meaningful to stock prices. With the exception…

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Bitcoin (BTC), the world’s largest cryptocurrency, failed to prolong its upward rally and dropped below $28,000 on Friday. Bitcoin had been on a positive trend, reaching a high of $29,000 earlier in the week. Although, it was short-term gains as it dropped below $28,000 today, signaling a bearish sentiment in the market.However, Bitcoin continues to struggle to break through the $28,250 resistance level, while Ethereum is showing signs of consolidation.Crypto Market Fundamentals The reason for its upward rally could be attributed to the bullish US dollar, which rose lately after the release of strong US job growth data, increasing the probability…

A surprise production cut announcement this week from Saudi Arabia and several other OPEC+ oil producers complicates the Federal Reserve’s mission to cool the economy and could worsen inflation in the United States, economists say. Energy prices across the globe surged last year when Russia invaded Ukraine, fueling global inflation just as the world’s major economies were beginning to rebalance after the pandemic. Since then, a drop in energy prices has helped cool US inflation, which has fallen from a 40-year peak of 9.1% in June to 6% in February, year over year, according to the Consumer Price Index. Energy…

Vice President Kamala Harris on Thursday plans to announce a commitment between South Korean solar cell manufacturer Qcells and Virginia-based Summit Ridge Energy to deploy 1.2 gigawatts of community solar power, the largest community solar order in U.S. history.Harris will make the announcement during a trip to the Qcells facility in Dalton, Georgia as part of the White House’s “Invest in America” tour. The deal will require the manufacturing of 2.5 million solar panels, Biden administration officials said, generating enough clean electricity to power 140,000 homes and businesses.Community solar generally refers to local solar facilities shared by community subscribers who receive credit on their energy…