Corporate news, financial markets, and economic trends
The 2024 U.S. presidential election has catapulted cryptocurrency into the center of the political universe-aka “America’s crypto election.” Though only a little more than a decade old, the industry is unprecedentedly powerful in electoral politics. Once a decidedly niche issue, cryptocurrency is currently one of many touchstone issues for many voters, with its influence shaping…
Many Wall Street banks also foresee further gains for Pound Sterling against the US Dollar and the Euro, continuing its rally that has been among the big trends in currency markets so far in 2024. Such optimism is underpinned by a spate of encouraging macro factors, including the slowing pace of rate cuts by the…
It has been puzzling many that the Federal Reserve has cut interest rates lately, yet Treasury yields have been rising. Traditionally, when the Fed cuts the rate, bond yields, especially longer-term Treasuries, decline because the cost of borrowing falls and economic activity is expected to be sluggish. But that’s the opposite of what’s happening in…
Industrial profits in China had crashed by 17.8% in August 2023 compared to the same period last year, giving rise to many serious concerns over the successful recovery and stability of the country’s economy. This was despite experiencing a modest increase of 4.1% made in July that had given it some momentum for rejuvenation. The…
The carrier said it intends to greatly reduce its service and staffing from Hartsfield-Jackson Atlanta International Airport under a broad cost-cutting initiative that the Wall Street Journal today said was prompted by activist investor Elliott Investment Management. Over 200 flights per week in and out of Atlanta will be curtailed. The number of flights covered…
As Donald Trump prepares for possibly a second term in office, his economic policies have seen renewed interest—specifically his tough stance on trade. While much attention was directed toward China, observers point out that U.S. allies also have much at stake as Trump ups the ante on tariffs and uses his new unilateralist international trade…
In September 2024, China opened an investigation into PVH Corp-the parent company of Calvin Klein and Tommy Hilfiger-for suspected boycotts against cotton from the allegedly forced-labor-plagued region of Xinjiang. The Chinese Ministry of Commerce has accused PVH of discriminatory behavior against the products of Xinjiang, making the company a target under the legal framework known…
The former chief executive of Alameda Research, Caroline Ellison, received a two-year sentence over one of the largest financial frauds to hit the market-the fall of FTX. Ellison, a onetime confidant and romantic partner of FTX founder Sam Bankman-Fried, helped orchestrate the $8 billion fraud that surely scorched investors, customers, and lenders. Although she could…
One of the major aerospace companies, Boeing, softened its labor offer to over 33,000 machinists, who are represented by the International Association of Machinists and Aerospace Workers, labeling it as “best and final” in its strike that had entered its second week. The first strike Boeing has witnessed since 2008 brought much of the company’s…
The Boeing strike enters its second week, and the aerospace giant has made a sweeter labor proposal that it calls the “best and final” to over 33,000 machinists represented by the International Association of Machinists and Aerospace Workers. The labor action, Boeing’s first since 2008, has halted much of this aircraft-producing company, leaving doubling financial…
