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China’s Pandemic Quarantine Policies May Put Global Economy at Risk
China’s strict COVID-19 isolation policy could cause more trouble than investors may think, global economists predict, according to CNN. The nearly 400 million people locked down in 45 cities nationwide represent 40% or $7.2 trillion of China’s annual gross domestic product, according to data from Nomura Holdings...
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U.S. Banks are Eyeing Easy Money Following Russia’s Invasion of Ukraine
As the sell-off of Russian debt continues, U.S. banks are buying cheap Russian government or corporate bonds and credit-default swaps, which act as insurance on a borrower’s potential default. Called a negative-basis trade, such a purchase typically makes little sense...
Bank Earnings Expected to Fall Despite Rate Boost
Bank profits are expected to fall by 8% in 2022, with financial challenges mitigating the effects of higher interest rates, according to S&P Global Market Intelligence. Earnings were boosted in 2021 by the release of reserves...
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Deutsche Bank Forecasts ‘Mild’ Recession In 2023
Efforts by the Federal Reserve to combat inflation may cause a “mild” recession late next year, according to a Deutsche Bank report written earlier this month. Bank economists cautioned, though, that the downturn would not be as severe as the previous two...
JPMorgan’s Jamie Dimon Urges U.S. To Step Up Pressure On Russia
JPMorgan Chase Chief Executive Officer Jamie Dimon wants the U.S. government to ramp up strategies against Russia, including sending more troops to NATO borders, restructuring supply chains, and boosting energy supply with “Marshall Plan” measures...
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U.S. Fears China Has Already Resolved To Send Economic Aid To...
U.S. officials are afraid that China has already made the decision to provide Russia with economic and financial aid for its war on Ukraine. Further, they fear China is seriously considering sending military supplies, including armed drones...
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Yield Curve Inversion Could Be Harbinger Of Recession
On March 29, the yield on the two-year Treasury note briefly surpassed the yield on the benchmark 10-year note, marking the first time it has inverted since September 2019. This may be a reflection of a fear in the market that the Federal Reserve...
Boost The Economy With Permanent Daylight Saving Time?
A bill to permanently switch to daylight saving time in November 2023 has achieved a rare feat: garnering support from both sides of the aisle. According to some members of Congress, the Sunshine Protection Act could jump-start the economy...
Fed Chairman Powell Calls For Quick Interest Rates Rise
The Federal Reserve must make moves soon to raise interest rates and return monetary policy to normal, according to Fed Chairman Jerome Powell. The Fed began its attempt to do so on March 16 when it announced its first interest rate hike since 2018, raising the benchmark rate to a range of 0.25%-0.5%...
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Investors Hoping Crypto Can Withstand Russia-Ukraine Fallout
Global investors are flooding cryptocurrency funds and companies with investment, hoping the emergent sector may be more resilient than established financial instruments against market fluctuations stemming from the Russia-Ukraine conflict...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...