US Regulators Ease 'Too Big to Fail' Label on Financial Companies and Plan Overhaul of Federal Home Loan Bank System
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#39a21c69 ver:0.13
U.S. regulators have voted to reverse rollbacks on financial companies, making it easier to impose the 'too big to fail' label on certain firms. The decision was made at a meeting of the Financial Stability Oversight Council (FSOC), chaired by Treasury Secretary Janet Yellen. The move aims to remove hurdles in designating nonbank financial companies and revises the definition of what constitutes a threat to U.S. financial stability. Nonbank financial companies have expanded rapidly and play a significant role in providing consumer and business credit. However, there are concerns about the risks posed by nonbank mortgage lenders. Critics argue that designating independent mortgage bank servicers as systemically important institutions could have a negative impact on the mortgage market and c...
#newstr #UsRegulators #FinancialStability #Neobanks #BlockchainbasedLending #BankMergers
Controversy Surrounds UK Government's Plan to Use AI to Check Bank Accounts for Fraud
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#2a00bc4f ver:0.22
Over 40 organizations, including Disability Rights UK and Age UK, have criticized the UK government's plan to use AI to check bank accounts for potential fraud. The proposal is part of the Data Protection and Digital Information Bill and aims to track down fraudsters and benefit claimants who have been overpaid. However, these organizations argue that the measures are a 'step too far' and raise concerns about privacy, surveillance, data protection, and equalities. They believe that the AI system could infringe on individuals' privacy and lead to increased surveillance. The government, on the other hand, insists that the AI system is not a surveillance power and does not allow access to bank accounts or monitoring of claimants' spending. This controversy highlights the ongoing debate around...
#newstr #Ai #Education #UkGovernment #BankAccounts #Fraud
Houthi Rebels Target Chinese Tanker in Red Sea Missile Attack
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#6b103506 ver:0.18
Recent reports indicate a rise in piracy off the coast of Somalia since November 2023, with five assaults on commercial ships reported. This increase in piracy is attributed to the disruption of maritime security caused by Houthi militants' attacks on ships in the Red Sea. These attacks are seen as a response to the ongoing Israel-Hamas war. The Houthi attacks have ended a period of stability that led to the declassification of the coastline on the Indian Ocean as a 'high-risk area' in 2022 .
The rise in Somali piracy is a concerning development in the maritime security landscape. The attacks on commercial ships in the region pose a threat to global trade and shipping routes. The Houthi militants' actions in the Red Sea have created a power vacuum that has allowed Somali pirates to take a...
#newstr #HouthiRebels #RedSea #MissileAttack #ChineseTanker #MaritimeSecurity
China and Russia Accused of Spreading Disinformation and Conspiracy Theories About Princess Kate Middleton's Health
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#d637c9bf ver:0.56
Piers Morgan has come to the defense of Kate Middleton following a week of intense public scrutiny. The Princess of Wales has been the subject of wild conspiracy theories surrounding her withdrawal from public life as she recovers from abdominal surgery she underwent in January. Morgan wrote a passionate defense of Middleton, stating that she has become a crown jewel who must be protected at all costs. Archbishop Justin Welby also criticized the speculation about Middleton's health, warning that society is becoming 'obsessed with conspiracy'. Meanwhile, three people have been suspended for allegedly accessing Middleton's medical records while she was a patient at The London Clinic. The Archbishop of Canterbury has joined the growing calls for more privacy for Middleton as she continues to ...
#newstr #KateMiddleton #PrincessOfWales #ConspiracyTheories #Disinformation #China #Russia #Iran
Global Stock Markets Drop as Geopolitics and Inflation Concerns Weigh
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#5e43e797 ver:0.06
European stocks mostly drifted lower as traders assess the outlook for interest rates and inflation. Danske Bank Research expects three interest-rate cuts from the European Central Bank this year, but recent data suggests a growing possibility of fewer cuts. Entain shares have fallen 20% year-to-date, and the absence of a permanent CEO creates a muted sentiment. Stock futures edged lower, while Treasury yields were roughly flat. The dollar rose and could stay high for now, but the prospects of forthcoming Fed rate cuts should cause the currency to fall in the second quarter. UBS Global Wealth Management said major currencies could continue to stick within recent ranges as central banks look set to cut interest rates. Citi Research expects sterling to weaken against the dollar due to the pr...
#newstr #StockMarkets #Geopolitics #Inflation #OilPrices #UsEconomy #Boeing
South Africa's Stance on Israeli-Palestinian Conflict Sparks Debate on US Relationship
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#479de6c5 ver:0.1
The United States and South Africa's bilateral relations are facing increased scrutiny as a bill calling for a review of the relationship gains traction in the US. The bill, introduced by Republican John James and Democrat Jared Moskowitz, requires President Joe Biden to publicly determine whether South Africa has engaged in activities that undermine US national security or foreign policy interests. The bill highlights concerns over South Africa's ties to Hamas, Russia, and China, as well as issues such as load shedding, Transnet's problems, and state capture .
The Wall Street Journal (WSJ) has published an editorial criticizing South Africa, stating that the country has been moving towards an anti-US axis for some time. The WSJ argues that Congress is right to put Pretoria on notice and ...
#newstr #UssouthAfricaRelations #IsraelipalestinianConflict #SouthAfrica'sPosition #UsBill #Ramaphosa
Currency Dealers Explain Why Dollar is Crashing as Naira Appreciates in Official and Black Markets
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#f4e83713 ver:0.97
The Nigerian currency, the Naira, has experienced a significant gain against the US dollar in both the official and black markets. Currency dealers have shed light on the factors contributing to the Naira's appreciation and the dollar's decline. The oversubscription of recent Federal Government of Nigeria (FGN) bonds and other securities has positively impacted the Naira. The various FGN bonds issued by the Nigerian government and the Central Bank of Nigeria's (CBN) Open Market Operations (OMO) auctions with high interest rates have played a significant role in the Naira's upsurge. Additionally, the clearing of Forex backlogs by the CBN has had a massive effect on the Naira, further improving its prospects against major currencies. As a result, the Naira has appreciated against the dollar ...
#newstr #CurrencyDealers #Dollar #Naira #Abcon #FgnBonds #Securities #CentralBankOfNigeria #Forex #ExchangeRate
JP Morgan Aims to Reach $1 Trillion Market Share in ETFs
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#08b70dab ver:0.06
JP Morgan Asset Management has set a goal to reach a market share of $1 trillion in exchange-traded funds (ETFs), which currently manage savings valued at $12 trillion. The company launched its ETF platform in 2014 and currently has 113 ETFs with assets of $164 billion. It plans to achieve its $1 trillion target within the next five years. JP Morgan Asset Management sees growth potential in actively managed ETFs, which currently represent only 6% of the ETF market but are considered a revolution in the industry. The company also emphasizes the importance of technology, with 150 engineers working to reduce costs and provide greater value to customers. Additionally, JP Morgan Asset Management believes there is growth potential in alternative products, such as unlisted assets .
The first ETF...
#newstr #JpMorgan #Etfs #MarketShare
Exploring a Wide Range of Passive Income Ideas to Make Money and Build Wealth in 2024
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#993a6e70 ver:0.04
In a rapidly changing world, the concept of passive income has gained significant traction as individuals seek to diversify their income streams and achieve financial security. This trend is not limited to a specific country or region, but rather transcends borders and cultures. From Bangladesh to the United States, people are exploring various opportunities to generate passive income.
In Bangladesh, as the country moves towards a digital and diversified economy, passive income has become increasingly appealing. The Daily Star highlights the top passive income ideas for Bangladeshis in 2023, including investing in art, creating and selling online courses, investing in real estate, promoting products or services online, renting out properties, designing custom products, and investing in ag...
#newstr #PassiveIncome #SideHustles #Investing #Stocks #Ai #DomainParking #CryptoStaking #Annuity #Renting #Royalties #PeertopeerLending #Atm #VendingMachine #AppDevelopment #StockPhotos #VideoContent #CarAdvertising #CustomProducts #AffiliateMarketing #StorageRental #ParkingRental #RealEstateInvesting #Ebook #Blog #OnlineCourse #SavingsAccount
Oppenheimer and HSBC raise year-end targets for S&P 500 amid positive earnings outlook
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#65b2be78 ver:0.34
Oppenheimer Asset Management has become the most bullish among global brokerages in its year-end target forecast for the S&P 500. It raised its target for the index to 5,500 from 5,200 and also raised its annual S&P 500 earnings-per-share forecast to $250 from $240. HSBC also raised its year-end target for the S&P 500 to 5,400 from 5,000, assuming a soft landing for the U.S. economy. The revised target is based on better earnings expectations, supported by resilient GDP growth and recent earnings beats. The second half of 2024 is expected to be more volatile due to U.S. elections, elevated earnings expectations, and a shifting narrative on interest rate cuts by the Fed .
The S&P 500 reached a fresh closing high of 5,178.51 on March 19, 2024, marking a new milestone for the index. This com...
#newstr #S&p500 #OppenheimerAssetManagement #Hsbc #EarningsForecast #UsEconomy
Solarcycle and Eastman Chemical Company Expand Solar and Plastic Recycling Facilities in the US
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#c90adf48 ver:0.06
Solarcycle, a solar recycling company, has announced a partnership with Georgia Governor Brian P. Kemp to establish a solar glass manufacturing facility in Cedartown, Polk County. The $344 million investment will create over 600 new full-time jobs and produce solar glass using recycled materials from retired solar panels. The facility, the first of its kind in the country, will be governed by a 10-year partnership with renewable energy producer Neoen. SOLARCYCLE currently operates facilities in Texas and Arizona and has long-term partnerships with over forty solar energy companies. The new facility in Georgia will have an annual production capacity of five to six gigawatts and will supply domestic solar manufacturers. Construction is set to begin in 2024, with operations starting in 2026. ...
#newstr #SolarGlassManufacturing #SolarRecycling #PlasticRecycling #RenewableEnergy #Georgia #Texas
Global Economic Growth Expected to Slow in 2024 with Lingering Inflationary Pressures - Citi
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#b5abe0ba ver:0.18
After a somewhat turbulent 2023, the global macroeconomic scenario appears to have stabilized, according to the Ministry of Finance . Inflationary pressures have moderated in most Advanced Economies (AEs), and the banking sector risk is subdued. Major central banks are signaling rate cuts in 2024, leading to a surge in equity markets and a decline in bond yields. The International Monetary Fund (IMF) projects global growth at 3.1% in 2024 and 3.2% in 2025. However, risks such as ongoing geopolitical conflicts and supply chain tensions remain. Financial stability risks, including tightened global financial conditions and flight-to-safety capital flows, could impact international trade and economic growth .
Mathilde Lemoine, Chief Economist at Edmond de Rothschild Group, discussed the outlo...
#newstr
Stocks Open Lower as Investors Await U.S. Economic Data and Fed Speak
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#124f9b71 ver:0.55
Wall Street posted small gains in early trading on Friday as markets tried to close out another up-and-down week on the positive side. Futures for the S&P 500 and the Dow Jones Industrial Average each rose less than 0.2% before the bell. Markets have bounced around between small gains and losses this week on a series of mixed economic data. One report showed inflation was a touch hotter at the wholesale level last month than economists expected. Other reports released Thursday also showed some softening in the economy, which kept alive hopes that the long-term trend for inflation remains downward and that the Fed will cut rates three times this year, starting in June. In off-hours equity trading, software maker Adobe tumbled 11.2% after it gave tepid guidance even though it beat Wall Stree...
#newstr #StockMarket #UsEconomicData #FederalReserve #ConsumerConfidence #Ocado #Bellway #Flutter #Fevertree
US General Services Administration to Spend $2 Billion on Low-Carbon Building Materials and Seeks Funds to Optimize Federal Building Portfolio
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#166d28fa ver:0.05
The US General Services Administration (GSA) plans to spend $2 billion from the Inflation Reduction Act (IRA) to purchase cement and other building materials with substantially lower embodied carbon emissions . This initiative, known as the Buy Clean public procurement plan, aims to reduce greenhouse gas emissions by 41,000 tons annually and support 6,000 jobs . The GSA's plan aligns with the Biden administration's goal of decarbonization and transitioning to a clean energy economy. The Sierra Club has called on lawmakers to defend the GSA's plan and for the domestic industry to embrace investments toward a clean competitive advantage .
This move by the GSA is part of a broader effort by the Biden administration to address climate change and promote sustainability. The administration's di...
#newstr #UsGeneralServicesAdministration #LowcarbonBuildingMaterials #FederalBuildingPortfolioOptimization #BidenAdministration #IndustrialSectorEmissions #Decarbonization #CarbonDioxideEmissions #CleanEnergy #ClimateChange
UK Homes Rank Worst for Value for Money Among Developed Economies
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#0eb63812 ver:0.25
House prices in the UK continue to rise, with the average cost of a home reaching £291,029 ($366,792), according to the latest data from Halifax . This represents a 2.5% annual increase, the highest growth rate since January 2023 . The average price of a UK home rose by £3,900 ($4,911) from the previous month . However, house prices in South East England are still facing downward pressure . On the other hand, Northern Ireland, Scotland, and Wales reported the strongest growth in house prices .
According to data from the UK's Royal Institution of Chartered Surveyors (RICS), new buyer enquiries for house prices in the UK reached their strongest point in almost two years . The measure of house prices rose to -18%, its highest level since October 2022, surpassing the expected -25% and an impr...
#newstr #UkHomes #ValueForMoney #DevelopedWorld #Study #HousingCrisis #AffordableHousing #Rents #HousePrices #GeneralElection
Top Stories on HERE.news in this hour...https://imagedelivery.net/665GHToRzycMVwZ9VsJNfA/ad2c1d91-9029-49c6-5cd0-bcd60e7fae00/screenshot
Symposium Explores Uyghur Persecution and Intellectual Purge in China
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#732bbcc2 ver:0.16
China's consul general in New York, Huang Ping, visited two more universities in the United States, Baruch College and Northeastern University, despite his previous comments praising the Chinese Communist Party (CCP) and denying the alleged Uyghur genocide in China. Ping also visited Boston University, where he expressed interest in strengthening cooperation with China. Ping has been criticized for promoting CCP talking points on his social media account and denying the existence of genocide and internment camps targeting Uyghurs, describing them as educational centers. The purpose of the meetings at the universities was not disclosed.
In a related development, Perry Link, a professor of comparative literature at the University of California, Riverside (UCR), has been a leading voice on h...
#newstr #China #Uyghur #HumanRights #AcademicConference #IntellectualPurge
The Power of Recursion: Connecting Mathematical Ideas
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#7428263f ver:0.11
Mathematicians Craig S. Kaplan, David Smith, Chaim Goodman-Strauss, and Joseph Samuel Myers embarked on a quest to find an aperiodic monotile, a shape that tiles the plane without repeating periodically. Smith discovered a shape called the 'hat' and reached out to Kaplan, leading to a collaboration to study the hat's properties. They developed substitution rules and proved that the hat is an aperiodic monotile. Later, they discovered the 'turtle,' which turned out to be a disguised version of the hat. They also explored the Tile(1,1) continuum and found a family of shapes called 'spectres' that are chiral aperiodic monotiles. The mathematicians hope their work will inspire others to explore tiling theory.
Mathematicians are still learning new things about the nature of numbers, shapes, an...
#newstr #Mathematics #Recursion #HandshakeProblem #LinearFunctions #ExponentialFunctions #SystemsOfEquations #GeometricFormulas
Boeing CEO Dave Calhoun to Step Down Amid Ongoing Safety Problems
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#f4152f60 ver:0.1
Boeing CEO Dave Calhoun, along with the chairman and head of the commercial airplane unit, will be leaving the company. Larry Kellner, the chairman, will not stand for re-election and will be succeeded by former Qualcomm CEO Steve Mollenkopf. Stan Deal, CEO of Boeing Commercial Airplanes, is retiring and will be replaced by Stephanie Pope, the current chief operating officer. Boeing has faced numerous safety problems over the past five years, including two fatal crashes of the 737 Max and recent incidents like a door plug blowing out of an Alaska Airlines 737 Max. The decision to leave was Calhoun's choice, and he plans to stay on through the end of the year to address the issues and make necessary changes. The airlines that depend on Boeing have expressed disappointment in the quality of ...
#newstr #Boeing #DaveCalhoun #SafetyProblems #Airlines #Leadership
Federal Reserve expected to cut rates, potentially boosting President Biden's prospects in the upcoming election
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#95ceb35a ver:0.17
The U.S. Federal Reserve is expected to cut interest rates as the presidential campaign season heats up, potentially giving President Joe Biden a boost. Rate cuts could shape attitudes about high inflation and housing costs, which have been a drag on Biden's reelection efforts. The Fed's projections suggest a growing economy, low unemployment, moderating inflation, and cheaper credit leading up to Election Day. Investors anticipate rate cuts at two of the four Fed meetings before the election. However, some experts are skeptical that the rate cuts will have a significant political impact. Americans rank the economy as a top election-year issue, and Biden has received poor ratings for his handling of the economy. The Fed's rate hikes have been used by Republicans to criticize Biden's manage...
#newstr #FederalReserve #InterestRates #JoeBiden #Inflation #HousingCosts #Election #Economy #MortgageRates #JeromePowell #DonaldTrump