First American News LLC Raleigh, NC: Charles Goodhart sees an era of inexpensive labor giving way to years of worker shortages—and higher prices. Central bankers around the world are listening. When the global economy tanked in March 2020, the rate of inflation looked like it was heading to zero. That made it a surprising moment …
Will Inflation Stay High for Decades? One Influential Economist Says Yes Read More »
First American News LLC: Raleigh, NC: The Federal Reserve needs to deliver a Volcker-style shock to drive down asset prices if it wants to slow inflation without causing a recession, according to Credit Suisse Group AG strategist Zoltan Pozsar. Policy makers should stoke volatility to set off corrections in assets including stocks, houses and Bitcoin, …
Fed Needs to Hike to Slow Inflation Without Recession, Credit Suisse Says Read More »
First American News LLC: Raleigh, NC: U.S. President Joe Biden says planned sanctions if Russia invades Ukraine would have “a devastating impact” on its economy. But after the Kremlin spent the last eight years preparing for more penalties, economists say the pain may not be as bad as some fear. The measures under consideration, which …
Putin’s Financial Fortress Blunts Impact of Threatened Sanctions Read More »
First American News LLC: Raleigh, NC: The e-commerce giant rose 9.6%, adding more than $135 billion in market value, after climbing as much as 12% at Friday’s open. That would be among the biggest single-day gains in U.S. stock market history, and would come just a day after Facebook parent Meta Platforms entered the other …
Amazon Surges to Add $135 Billion in Wild Market Value Swing Read More »
First American News LLC: Raleigh, NC: U.S. stock indexes fell Tuesday, and bond yields hit two-year highs as investors fretted over whether the Federal Reserve will raise interest rates more quickly and aggressively than expected, said Gaby Mendoza of MB Daily News. Investors, coming off a holiday weekend that had closed markets on Monday, sold …
Bond Yields Hit Two-Year High As Stocks End Lower Read More »
First American News LLC: Raleigh, NC: Crude prices rose to their highest level since the 2014 shale-induced oil crash, a milestone in a rally that is gathering momentum as geopolitical tensions threaten to knock supply, said Gaby Mendoza of MB Daily News. Futures for West Texas Intermediate, the main grade of U.S. crude, added $1.61 …
Oil Prices Are Hotter Than Ever Despite Geopolitical Tensions Read More »
First American News LLC: Raleigh, NC: Credit Suisse Chairman António Horta-Osório has resigned just nine months into the role after breaching Covid-19 quarantine rules. His abrupt departure follows an internal investigation commissioned by the board, Credit Suisse said Monday in a statement. It named board member Axel Lehmann, a former UBS (ticker: UBS) executive, as …
Credit Suisse Chairman António Horta-Osório Quits Over Covid Breach. The Stock Is Down. Read More »
First American News LLC: Raleigh, NC: Warren Buffett’s Berkshire Hathaway missed out on about $10 billion of gains by dumping its Wells Fargo stock in 2020 and early 2021. The famed investor’s company-owned 346 million Wells Fargo shares at the end of 2019, giving it an 8.4% stake in the bank. Berkshire virtually eliminated that …
First American News LLC, Raleigh, NC: Hong Kong will suspend transit flights for a month from around 150 countries and territories considered high risk because of the coronavirus, deepening the global financial hub’s isolation. The move comes as the city has seen around 50 cases of the fast-spreading Omicron variant since the end of last …
Hong Kong suspends transit flights for a month from most of the world due to Covid-19 Read More »
First American News LLC, Raleigh, NC: Technology stocks sold off again as bond yields spiked Friday, after the release of the December jobs report. Markets remain confident that the Federal Reserve will act rather quickly to lift interest rates. The Dow Jones Industrial Average was essentially flat and closed down just 5 points, after the …
