In this article MSFT SQ CRM Follow your favorite stocksCREATE FREE ACCOUNT Salesforce signage outside its office building in New York. Scott Mlyn | CNBC Retail investors are grappling with the gyrations of the stock market as economic data rolls in and the Federal Reserve’s rate decision looms. To avoid making knee-jerk decisions based on
Month: December 2023
Luxury properties in the Kensington and Chelsea district of London, UK, on Monday, Aug. 21, 2023. Jason Alden | Bloomberg | Getty Images The U.K. property market has been a rollercoaster for renters and prospective homeowners alike for over a year now. Rents soared throughout 2022 and 2023 as supply and demand imbalances led to
Alan Appelbaum, former managing director and head of Aegis Capital Corp.’s municipal bond desk, has agreed to settle Securities and Exchange Commission charges that he disregarded his obligations as a broker-dealer and violated antifraud provisions in his recommendation of certain variable interest rate structured products to seven investors. Without admitting or denying the findings, Applebaum,
California Gov. Gavin Newsom will need to close a $68 billion shortfall as he wraps up work on the proposed budget for fiscal 2024 that he will present to lawmakers in January. The upshot is that the flooding and massive storms that hit California in early 2023 and pushed income tax filings in the state
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China’s state health insurance system has lost tens of millions of subscribers, as higher costs have put one of the world’s largest healthcare schemes out of reach for many people already struggling in a post-pandemic
Seoul, South Korea ranked in the top three of the fastest growing destination for digital nomads. Prasit Photo | Moment | Getty Images Company: Samsung C&T (028260.KS) Business: Samsung C&T Corp is a Korea-based company engaged in the trading of industrial goods. The company operates its business through a group of segments. These include engineering
Homes in Hercules, California, US. Bloomberg | Bloomberg | Getty Images After surging over 8% in October, mortgage rates are falling back toward 7% again, and that is jump-starting the refinance market. Last week, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.17% from 7.37%,
Moody’s Investors Service raised its outlook on U.S. nonprofit higher education sector to stable from negative on Thursday, citing expected narrowing gaps between expense and revenue growth. Also on Thursday, S&P Global Ratings affirmed its “bifurcated” outlook for the sector, which includes a negative outlook for less selective, more regional institutions without financial flexibility and
Municipals were steady Friday, ignoring weakness in the U.S. Treasury market after the jobs report came in hotter-than-expected. Equities ended up. The November payroll report “was stronger than Wall Street was expecting, and we are already seeing significant upward pressure on Treasury yields,” said Scott Anderson, chief U.S. economist and managing director at BMO Economics.
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s consumer prices fell 0.5 per cent year on year in November, the sharpest decline in three years as the world’s second-largest economy grapples with worsening deflation. Consumer prices dropped by more than the 0.2
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT A Redfin sign in front of a home for sale in Atlanta on Nov. 10, 2022. Elijah Nouvelage | Bloomberg | Getty Images This year was the least affordable year for homebuying in at least in the past 11 years, according to a Thursday report
Ohio for the first time can boast of a trifecta of triple-A ratings after S&P Global Ratings on Friday gave top marks to the state’s issuer and general obligation ratings. “The upgrades reflect our view of Ohio’s demonstrated commitment to active budget management and building and maintaining reserves through economic cycles,” said S&P analyst Rob
The U.S. Treasury Department would be authorized to float up to $1 billion of bonds exempt from state and local taxes to fund climate resiliency projects under a measure introduced Wednesday by Sen. Dick Durbin, D-Ill. The bill would allow Treasury to issue “climate bonds” for purchase by “any American” to finance projects undertaken by
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s competition regulator has taken the first steps of an investigation into Microsoft’s multibillion-dollar partnership with OpenAI, one of the tech industry’s most lucrative tie-ups. The Competition and Markets Authority on Friday said it
In this article GME Follow your favorite stocksCREATE FREE ACCOUNT A GameStop store in a strip mall in Chicago on March 16, 2023. Scott Olson | Getty Images Struggling retailer GameStop is giving its CEO and chair Ryan Cohen even more control, including the ability to use company cash to buy other stocks. In its
Soon after Thirdweb revealed a security vulnerability that could impact a variety of common smart contracts used across the Web3 ecosystem, OpenZeppelin identified two specific standards as the root cause of the threat. On Dec. 4, Thirdweb reported a vulnerability in a commonly used open-source library, which could impact pre-built contracts, including DropERC20, ERC-721, ERC-1155
Hong Kong residential prices could fall by another 10% in 2024, according to DBS Hong Kong. Bloomberg | Bloomberg | Getty Images Hong Kong’s property market has plunged nearly 20% since its peak, and it may be a good time for homeowners to buy — but investors might want to think twice, according to Peter
Bitcoin (BTC) will hit a new all-time high in late 2024 on the backdrop of a long-feared United States recession and regulatory shifts after the next U.S. presidential election, asset manager VanEck predicts. On Dec. 8, VanEck made 15 crypto predictions for 2024, including price forecasts, timings of a spot Bitcoin ETF launch, the impact
Municipals were slightly firmer Thursday as the last of the week’s large new-issues came and went while U.S. Treasuries were little changed and equities ended up ahead of Friday’s much-anticipated jobs report. Triple-A yields fell one to three basis points while USTs yields were relatively flat, only a basis point down out long. Relative value
Is a game even a game without bots? Pixels CEO doesn’t think so Some think that bots in games is a sign of the apocalypse, or perhaps just the makers trying to fill up an empty venue to make it look popular. But Pixels founder and CEO Luke Barwikowski says that conversely, if people aren’t
BNP Paribas Securities Corp. officially opened its Miami office on Wednesday with a ribbon cutting ceremony attended by bank officials and local government dignitaries. “Adding Miami as a key location for our corporate and institutional banking business will be an important part in getting closer to our many clients in the South Florida area and
Stay informed with free updates Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox. Moody’s Investors Service advised staff in China to work from home ahead of its cut to the outlook for the country’s sovereign credit rating, a suggestion staff believed was prompted by concern over
In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT JOHANNES EISELE | AFP | Getty Images Several investors mourned the passing of famed investor Charlie Munger, vice chairman of Warren Buffett‘s Berkshire Hathaway, on Tuesday. Known for his quick wit and his role in the firm’s success, Munger’s legacy reverberated throughout the investing world. “Berkshire
JPMorgan CEO Jamie Dimon is being hauled over the hot coals on crypto X (Twitter) after claiming Bitcoin (BTC) and cryptocurrency’s “only true use case” is to facilitate crime. “The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance,” Dimon said in a hearing before the United States Banking Committee
Residential buildings under construction at China Vanke Co.’s Isle Maison development in Hefei, China, on Monday, Nov. 27, 2023. China is ramping up pressure on banks to support struggling real estate developers, signaling President Xi Jinping’s tolerance for property sector pain is nearing its limit. Source: Bloomberg Bloomberg | Bloomberg | Getty Images BEIJING — China
Crypto industry short sellers have lost at least $6 billion trying to bet against publicly-traded crypto firms this year, due largely to Bitcoin’s (BTC) outsized rally since Jan. 1. According to a Dec. 5 report from research firm S3 partners, traders who bet against publicly traded crypto firms such as Coinbase, MicroStrategy, and Marathon Digital
Municipals were firmer Wednesday while a busy primary market saw Pennsylvania sell $2.1 billion of general obligation bonds competitively and the New York City Transitional Finance Authority repriced its $1.3 billion of revenue bonds in the negotiated market with yields lowered by up to 12 basis points from Tuesday’s retail offering. Treasuries were firmer five
The Municipal Securities Rulemaking Board is seeking applications to fill three positions, two public representatives and one regulated representative, for its board of directors for the 2025 fiscal year. The application window will be open from Jan. 2 until Feb. 9 and can be submitted through the MSRB’s Board of Directors Application Portal. “Ensuring the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK ministers are set to pick veteran TV executive Samir Shah as BBC chair to replace Richard Sharp, the former Goldman Sachs banker who resigned this year. Shah has had a 40-year career in TV
Charlie Munger at Berkshire Hathaway’s annual meeting in Los Angeles California. May 1, 2021. Gerard Miller Becoming a titan of business does not require giving up your personality or humor, as Charlie Munger proved repeatedly in his long and successful life. Munger, who died Tuesday at the age of 99, leaves behind not just an