Tech stocks won’t return to 2021 highs even after the Fed slows or ends its rate hikes. Experts say the sector’s bubble was inflated and eventually burst by wider structural issues. As liquidity dries up and investor enthusiasm wanes, the sector could do well in 2023. Loading Something is loading. Thank you for your registration! …
Illustration: Eniola Odetunde/Axios A handful of transit systems in the United States have recently made or are about to make bus travel free, in hopes of better serving riders and addressing critical equity issues. The big picture: Such programs have been hugely popular, leaving transit officials scrambling to find ways to keep funding them. Why …
Firms with market power raise their prices beyond rising energy costs, because they can. This huge queue of container trucks carrying grain in a blocked Ukrainian port symbolizes one of the factors in the rise in food prices, but the big companies controlling the world grain trade have exploited the shock of the offer (mykhailo …
BMO’s Financial Literacy eBook, in partnership with United Way Worldwide, is a digital repository to help consumers make real financial progress and bridge the information gap among Americans. The resource provides expert financial advice on budgeting, debt management, digital banking, home ownership, and more. Majority of United Way Clients Say They Would Find Additional Financial …
The last great defender of rules-based open commerce — the European Union — is about to fall. It happens in slow motion and the impact will be painful. If the world’s largest trading bloc abandons the concept of free trade, the entire global economy will suffer. But such an outcome looks increasingly likely, as the …
Europe First: Brussels is preparing to give up its ideals of free trade Read More »
Twitter’s security flaw that allowed hackers to steal millions of user records was patched in August this year, but that hasn’t stopped hackers from posting that data for free online.Photo: Sergey Yelagin (Shutterstock) Twitter’s API once contained a flaw so easily exploitable that hackers managed to capture 5.4 million user details. Now, according to reports …
Hackers release millions of Twitter IDs and user information for free Read More »
Powell said many times consumers may accept a crunch because loan distress is at historic lows. What consumers can’t stand for long is runaway inflation. By Wolf Richter for WOLF STREET. We’ll start with consumer bankruptcies because that’s where credit problems often end, if they can’t be resolved. Next, we’ll look at foreclosures, third-party collections, …
“Your money is like a soap bar. The more you handle it, the more it diminishes.” — Economist Eugène Fama The Federal Reserve’s necessarily vigorous response to persistently high inflation has increased the likelihood of a recession in the next 12 months if it has not already begun. For many investors, the instinctive response to …
Sam Bankman-Fried and the executives of his cryptocurrency company have paid hundreds of thousands of dollars to House committee members who will hold hearings next month into the company’s collapse. Bankman-Fried and his FTX co-founders paid nine members of the House Financial Services Committee $300,351, according to Federal Election Commission records. Some of the most …
What started a few months ago as isolated environmental, social and governance (ESG) criticisms has now exploded into a reactionary reaction. This dangerous rhetoric is now turning into politics, especially in states like Florida and Texas, with very real and very negative ramifications for investors. To understand how this happened, one must understand why ESG …
