US Treasury secretary Janet Yellen has warned of a “constitutional crisis” that risks economic and financial catastrophe if Congress does not raise the federal debt limit, with the government in danger of running out of cash in the absence of new borrowing capacity. The White House and Republican lawmakers are in a stalemate over lifting
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Bitcoin’s (BTC) volatility has shrunk further this week and it is on track to form an inside-bar pattern on the weekly chart. Although the bulls are finding it difficult to clear the overhead hurdle in the $30,000 to $31,000 zone, a positive sign is that they have not ceded ground to the bears. It is
In this article NET AMBA WPRT-CA ACMR NVDA Follow your favorite stocksCREATE FREE ACCOUNT 2016A statue is seen next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany. Kai Pfaffenbach | Reuters Technology stocks outperformed the broader markets over the past decade. Thanks to the bull run, the tech-heavy Nasdaq 100 Index (NDX) gained
The U.S. Federal Reserve has revealed that 722 banks reported unrealized losses exceeding 50% of their capital at the end of the third quarter of 2022. “Rising interest rates are creating significant unrealized losses in investment securities and in some cases depressing tangible equity,” according to the Fed’s Division of Supervision and Regulation. 722 Banks
Top Stories This Week Memecoin hype drives Bitcoin transaction fees to multi-year highs The ongoing trading frenzy of memecoins like Pepe has triggered an unwanted consequence for Bitcoin (BTC) — raising its transaction costs to their highest point in two years. On May 3, the total amount of fees paid on the Bitcoin blockchain reached
In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Berkshire Hathaway CEO Warren Buffett on Saturday assailed regulators, politicians and the media for confusing the public about the safety of U.S. banks and said that conditions could worsen from here. Buffett, when asked about the recent tumult that led to the collapse of three
In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Follow our live coverage of Warren Buffett at Berkshire Hathaway meeting. OMAHA, Neb. — Warren Buffett said Saturday that Berkshire Hathaway doesn’t plan on taking full control of Occidental Petroleum, an oil giant where it has amassed a stake north of 20%. related investing news Berkshire Hathaway’s
The wheels of the global luxury real estate market keep turning with new sales and new listings popping up every day. Here’s a look at what’s up for grabs and what’s been sold across five distinct United States markets. FOR SALE—$8.3 Million (San Diego, California) Standing at the western boundary of San Diego’s historic 1,200-acre
In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Warren Buffett at Berkshire Hathaway’s annual meeting in Los Angeles, California. May 1, 2021. Gerard Miller | CNBC Earnings for Warren Buffett’s Berkshire Hathaway jumped in the first quarter, thanks in part to a rebound in the conglomerate’s insurance business. Operating earnings, which encompass profits
Crowds were gathering on London’s Mall on Saturday morning ahead of the coronation of King Charles III, heralding a day of ancient ceremony and military spectacle that will draw on a millennium of British history. Global leaders and foreign royalty will attend the event at Westminster Abbey — scene of royal coronations since William the
In this article CLVT Follow your favorite stocksCREATE FREE ACCOUNT Eclipse_images | E+ | Getty Images Company: Clarivate (CLVT) Business: Clarivate is a global information, analytics and workflow solutions company. It operates through three segments: (i) Academia and Government, which is about 49% of revenue and comprised of information and software services used to conduct,
People at the See’s Candies display at the Berkshire Hathaway Shopping Day event, May 5, 2023. David A. Grogan | CNBC Berkshire Hathaway‘s annual shareholder meeting this weekend is kicking off with a shopping extravaganza. Called the “Berkshire Bazaar of Bargains,” the shopping event is a tradition at the yearly convention. With over 20,000 square
Highland Park, Michigan, would get a $20 million lifeline under an appropriation Senate Democrats put in their version of the state budget to help pay down a $24 million water and sewer debt the city has warned could drive it into bankruptcy. The city just north of Detroit owes the Great Lakes Water Authority $24
Municipals were steady to close out the week, while U.S. Treasuries sold off on the heels of a stronger-than-expected jobs report. Equities rallied. Stronger-than-expected hiring and wage growth data on Friday caused “[UST] bond yields to climb while equities are advancing because the data is helping alleviate concerns of a potential recession,” said José Torres,
On May 4, Argentina’s central bank banned payment providers from offering crypto transactions, alleging it intends to reduce the country’s payment-system exposure to digital assets. According to a statement from the monetary authority, payment providers may not offer or facilitate crypto services through their applications. The move brings payment fintechs and financial institutions under the
The Seattle region’s Central Puget Sound Regional Transit Authority has racked up another series of low-interest loans from the federal government, totaling $327 million. So far, Sound Transit, a light rail, commuter rail and express bus service serving the Seattle metropolitan region, is the largest beneficiary of the U.S. Department of Transportation’s Build America Bureau,
Federal Reserve Bank of St. Louis President James Bullard said he thinks the U.S. central bank can still achieve a soft landing, with inflation returning to the Fed’s 2% target without triggering a significant downturn. “Yes, the economy could go into recession, but that’s not the base case,” Bullard told the Economic Club of Minneapolis
New Jersey faces the uncertain economic conditions ahead with historic reserves, a trimmed-down debt profile, and a slew of upgrades from the major bond rating agencies. The state has received six upgrades in a little over a year, including four in April alone, one from each of the four major rating agencies. The Kroll Bond
Conservative councillors on Friday warned that prime minister Rishi Sunak faces an uphill battle to regain the trust of voters, following a bruising set of local election results for the government. In Sunak’s first electoral test as leader, results on Friday afternoon revealed the extent of his party’s losses, with the Tories losing around 649
In this article CVNA VFC COIN NVDA LYFT Follow your favorite stocksCREATE FREE ACCOUNT Customers shop at an Apple store on November 28, 2022 in Chicago, Illinois. Scott Olson | Getty Images Check out the companies making headlines in midday trading. Carvana – The used car retailer saw shares surge 28% after the company said