The U.S. Supreme Court recently issued a ruling against a challenge to a tax on Americans who have invested in certain foreign corporations. The case involved Charles and Kathleen Moore, a retired couple from Redmond, Washington, who contested the tax on foreign company earnings that have not been distributed to shareholders. The 7-2 ruling upheld
Ilya Sutskever, known for being a co-founder of OpenAI, recently made an exciting announcement about his new venture in the world of artificial intelligence. His new company, Safe Superintelligence (SSI), will be dedicated to the development of safe superintelligence. Unlike other companies in the industry, SSI will have a singular focus on this goal, aiming
European Union countries have come together to agree on a new package of sanctions against Russia in response to its ongoing war in Ukraine. This 14th package includes the first-ever restrictions on Russian gas, specifically targeting re-exports of Russian liquefied natural gas (LNG) in EU waters. While the package falls short of completely banning imports,
Silver prices have been on the rise recently, with a current trading price of $30.19 per troy ounce. The increase of 26.89% since the beginning of the year has caught the attention of investors looking to diversify their portfolio. But what exactly are the factors that influence the price of Silver? One of the key
Tropical Storm Alberto, the first named storm of the 2024 Atlantic hurricane season, has developed over the western Gulf of Mexico according to the U.S. National Hurricane Center (NHC). The storm is situated approximately 185 miles east of Tampico, Mexico, with sustained winds of 40 mph. Despite its current strength, Alberto is expected to weaken
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The European Commission recently announced disciplinary steps against seven EU countries for running excessive budget deficits. The countries singled out are France, Belgium, Italy, Hungary, Malta, Poland, and Slovakia. These deficits are primarily attributed to the impact of the COVID pandemic and the energy price crisis following Russia’s invasion of Ukraine in 2022. France’s Budget
Fitch Ratings agency has adjusted its forecast for China’s policy rate, pushing back expectations for a reduction to next year due to the high interest rates set by the U.S. Federal Reserve. The agency now predicts that China will maintain its one-year MLF at 2.5% for the remainder of this year, with a potential cut
Silver prices, represented as XAG/USD, were relatively steady on Wednesday according to FXStreet data. With silver trading at $29.55 per troy ounce, it has seen an increase of 16.02% since the beginning of the year. One of the key indicators used by investors to determine the relative valuation of Silver is the Gold/Silver ratio. The
The AUD/USD pair has been experiencing a rollercoaster of movement, with a recent recovery attempt from the 0.6590 support level. After a decline from the 0.6700 resistance zone, the pair found a new low near 0.6590 before starting to correct its losses. The bulls stepped in near 0.6600 and pushed the pair higher, breaking above
The US Dollar faced a decline recently due to lower-than-anticipated Retail Sales figures and dovish comments from Federal Reserve officials. This has led to market uncertainty and speculation about the future of the US economy. The US Census Bureau reported that May’s Retail Sales data grew at a slower pace of 0.1% as compared to
Senator Elizabeth Warren has recently accused Federal Reserve Chair Jerome Powell of favoring the financial industry over the well-being of American citizens. Warren’s accusations stem from reported changes to a set of regulations known as Basel III Endgame, which aims to increase the capital cushion that large American banks are required to hold. Warren expressed