“ ‘There are dislocations today that are as large as they were three months ago. ‘ ” — Boaz Weinstein That is Boaz Weinstein, the former star Deutsche Bank DB, -0.62% trader who now runs his own hedge-fund firm, Saba Capital Management explaining his investment outlook during the pandemicRead More →
Editor’s note: The week has been remarkably active for policy, possibly as a result of economies showing signs of heading slowly back to normal. While crisis remains, it seems like everyone has gotten numb to crisis mode. Recent news has been quite kind to crypto all over the world. WeRead More →
Despite the economic crisis, cryptocurrency trading platforms in India are reporting record-breaking volumes and new users. “People in India are betting big on bitcoin,” Paxful’s CEO said. “The Indian market holds great potential and importance for the future of the crypto-economy.” Record-Breaking Growth Across the Indian Crypto Industry Cryptocurrency tradingRead More →
© Reuters. Oil pours out of a spout from Edwin Drake’s original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pennsylvania By Matthew Green LONDON (Reuters) – Cheap renewable energy, climate policies and the coronavirus are pushing fossil fuel companies towardsRead More →
The UK government is seizing funds in dormant bank accounts worth approximately $185 million to fund its coronavirus relief efforts. So far, 30 banks have been voluntarily transferring money from dormant accounts to the government, including HSBC, Barclays, Clydesdale, Credit Agricole, Danske, Santander, Lloyds, and Bank of Scotland. The governmentRead More →
The COVID-19 pandemic has ravaged the economies of countries all around the world and is showing no signs of stopping. The overwhelming response from global governments has been to place their countries under full or partial lockdowns. This has arguably saved many lives, but the economic fallout has been savage.Read More →
By David Shepardson WASHINGTON (Reuters) – Boeing Co (N:) is in talks with banks about borrowing $10 billion or more amid rising costs for the U.S. planemaker after two crashes involving its 737 MAX jetliner, a source told Reuters on Monday. CNBC first reported the news on Monday, citing sourcesRead More →
‘I love riding a horse that’s running.’ David Tepper tells CNBC Perhaps, cribbing from the lyrics to the viral song “Old Town Road”, David Tepper is going to take his horse and ride till he can’t no more. That is essentially the sentiment conveyed by the founder of hedge fundRead More →
© Reuters. An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton (Reuters) – Boeing Co (N:) said on Thursday Michael Luttig, who was appointed senior adviser to the planemaker’s board amid the 737 MAX crisis in May, will retire at theRead More →
© Reuters. David Calhoun is congratulated after his company’s IPO opened on the floor of the New York Stock Exchange By Allison Lampert, Kenneth Li and Tim Hepher (Reuters) – Beleaguered Boeing Co (N:) is putting its future in the hands of a turnaround veteran who has led several companiesRead More →
© Reuters. FILE PHOTO: Boeing CEO Muilenburg testifies before Senate Commerce, Science and Transportation hearing on grounded 737 MAX on Capitol Hill in Washington By Ankit Ajmera and Tim Hepher (Reuters) – Boeing Co (N:) has fired its Chief Executive Dennis Muilenburg, seeking to restore confidence after two fatal crashesRead More →
AFP via Getty Images Watch out for sparks in the new year. NEW HAVEN, Conn. (Project Syndicate) — Predicting the next crisis — financial or economic — is a fool’s game. Yes, every crisis has its hero who correctly warned of what was about to come. And, by definition, theRead More →
(Bloomberg) — Tata Steel Ltd. plans to axe about 3,000 jobs across its European operations to cut costs in the latest blow to the region’s industry, with the move coming amid a heated general election campaign in the U.K. About two-thirds of the reductions would be office-based staff, according toRead More →
There are more millionaires next door. Despite that fact that most people are undersaved for retirement, a study released by Fidelity Thursday shows that the retirement savings picture isn’t quite as grim as you might think. Indeed, the number of 401(k) and IRA millionaires hit a record high at theRead More →
Amundi’s AMUN, -0.70% chief investment officer has warned the asset management sector could be on the verge of a wider liquidity crisis, amid heightened scrutiny by investors in the wake of Neil Woodford’s downfall. “This business is a trade-off between risk, return and liquidity. We have the ingredients ofRead More →
Bloomberg News Jamie Dimon, chief executive officer of JPMorgan Chase & Co. JPMorgan Chase & Co CEO Jamie Dimon said Friday that the turmoil in the plumbing of the financial system last month may be precursor of a bigger crisis if the Federal Reserve doesn’t learn from the experience. DuringRead More →
‘Just do the math, there’s 89 million millennials in a 330 million population of the United States of America. And then the group behind them — this is crazy — is just as big. In 20 years, there is going to be way more payers into the Social Security systemRead More →
© Reuters. Boeing Chairman, President and CEO Dennis Muilenburg speaks at the New York Economic club luncheon in New York City By Nivedita Balu and Eric M. Johnson (Reuters) – Boeing Co’s (N:) board has stripped chief executive Dennis Muilenburg of his chairmanship title, in an unexpected strategy shift announcedRead More →
Edge of your seat or under your seat may both be good spots to watch the U.S.-China trade talk-show getting under way Thursday. That’s judging by the stream of conflicting news reports that have been whipping markets around, such as one report saying the Chinese would bail early, briefly wipingRead More →
By Tracy Rucinski CHICAGO (Reuters) – Delta Air Lines (N:) pilots are receiving record overtime, straining the airline’s labor costs, partly as it adds more flights to take advantage of a gap in demand left by the grounding of the Boeing (NYSE:) 737 MAX at rival carriers, union officials toldRead More →
The eurozone economy keeps slowing — forecasts are regularly proving to be too optimistic. After its latest cut to GDP estimates, the European Central Bank now sees gross domestic product growing 1.1% this year and 1.2% in 2020, compared with projections issued in June for 1.2% GDP in 2019 andRead More →
U.S. soldiers fought in America’s war on terror — and then found themselves on the front lines of the opioid epidemic back home, according to a new study. Deployment and combat during the wars in Afghanistan and Iraq has fueled the opioid crisis among returning soldiers and also for theRead More →
Even if many expecting parents have their packed “go bag,” assembled the crib and adorned baby’s room, they still might not be fully prepared for life with a child. They better brace themselves even more, a new survey says — not only for sleepless nights, but also for steep child-careRead More →
By Swati Bhat and Nupur Anand MUMBAI (Reuters) – Sudhir Gharpure and his sales team sat chatting at a big Maruti Suzuki (NS:) dealership on the outskirts of Mumbai some two hours after its doors were opened on a recent Saturday morning – not a single customer was in sight.Read More →
MarketWatch photo illustration/Getty Images Will more information help borrowers navigate college costs and student loans? With the growth in student loans continuing to soar, politicians and borrowers struggling with an issue that’s become both a financial and political problem. Presidential candidates are proposing to cancel student debt and make publicRead More →
