The S&P 500 saw a recovery after a weak Thursday close, with indications pointing towards interest rate sensitive plays outperforming largecaps on Friday. This trend was expected to continue throughout the week, driven by stable interest rates and growing confidence in a soft landing. However, this positive outlook came at the expense of the dollar,
In recent years, efforts to enforce tax payments through passport revocation have been on the rise. The federal government now has the authority to revoke or limit a traveler’s passport if they have a seriously delinquent tax debt. This measure is considered a last resort to collect unpaid tax levies, according to experts in the
The future of Turkish banks seems to be uncertain and challenging according to Hakan Aran, the chief executive of Isbank, Turkey’s largest private bank. Aran predicts that challenges will continue throughout 2025 due to the economic turnaround in the country. These challenges are expected to impact various aspects of the banking sector, including net interest
On Tuesday, August 27, industrial profit figures from China could impact buyer demand for the Aussie dollar. Economists predict industrial profits will rise by 3.3% year-to-date, year-on-year, in July, down from 3.5% in June. Lower industrial profits may signal a weakening demand environment, negatively affecting Australian trade terms and the Aussie dollar. China accounts for
The recent arrest of Pavel Durov, the CEO of Telegram, at the Bourget airport outside Paris has sparked widespread discussion and controversy surrounding the popular messaging app. Durov, a billionaire founder of Telegram, was targeted by an arrest warrant in France as part of a preliminary police investigation. Reports suggest that the investigation was centered
The arrest of Pavel Durov, the billionaire founder and CEO of the popular messaging app Telegram, at the Bourget airport outside Paris has caused shockwaves in the tech world. Durov, a Russian-born entrepreneur, is no stranger to controversy. He is the mastermind behind Telegram, a messaging platform that competes with giants like Facebook’s WhatsApp, Instagram,
Prime Minister Keir Starmer is set to address the nation and prepare them for the difficulties ahead. He acknowledges that fixing the numerous problems facing Britain will not be an easy task and that “things will get worse before we get better.” This speech is seen as an opportunity for Starmer to be honest and
Brazil’s central bank chief, Roberto Campos Neto, recently addressed the issue of market volatility and its potential implications. He noted that the current volatility may indicate that the market is adjusting to the possibility of limited fiscal and monetary intervention in the future. This observation suggests a shift in investor sentiment and expectations regarding policy
With the upcoming Federal Reserve interest rate decision in September, investors are turning their attention to dividend stocks. According to Paul Baiocchi of SS&C ALPS Advisors, this shift is a wise move as he anticipates the Fed to ease rates. Baiocchi mentioned in an interview on CNBC’s “ETF Edge” that investors are moving away from
Wall Street’s stock indexes saw a significant surge on Friday, with the S&P 500 index edging closer to a record high. Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole economic conference played a pivotal role in this rally. Powell’s indication towards an imminent interest rate reduction due to risks in the job market
Gold prices have surged to retest $2500/oz ahead of Fed Chair Powell’s speech at the Jackson Hole Symposium. This comes after a retracement during Thursday’s US session, fueled by a stronger US Dollar, rising US Yields, and potential profit-taking. The market is eagerly anticipating Powell’s remarks, with many hoping for confirmation of September rate cuts.
The Covid-19 pandemic brought remote work to the forefront of the U.S. labor market, but economists now see it as a permanent fixture. Nick Bunker, economic research director for North America at Indeed, describes the work-from-home revolution as a significant shift that is here to stay. The concept of remote work includes both full-time home-based