Month: March 2022
London insurance firm fined £1 million over bullying, sexual harassment and heavy drinking
The interior of Lloyd’s of London, the centuries-old insurance market, is pictured in central London on April 27, 2016. Leon Neal | AFP | Getty Images LONDON — Lloyd’s of London, the U.K. insurance giant, has hit one of its member firms with a record £1.05 million ($1.38 million) fine for misconduct, which included allowing […]
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Tesla hikes China-made Model Y price again — by more than $2,000
Customers experience new energy electric vehicles at a Tesla store in Shanghai, China, On December 4, 2021. Future Publishing | Future Publishing | Getty Images Tesla raised the price for its cheapest Model Y car in China by 15,060 yuan ($2,372) on Thursday, following two consecutive price hikes for more expensive versions in just over […]
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Covid pushed nearly 5 million more in Southeast Asia into extreme poverty, says Asian Development Bank
A man ties up used cardboard boxes he salvaged to sell for recycling in Jakarta, Indonesia. Bay Ismoyo | Afp | Getty Images Southeast Asia is grappling with high poverty levels as recurring waves of Covid-19 have dealt a blow to the region’s labor market, said the Asian Development Bank. Last year, the pandemic pushed […]
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Russia may aspire to a China-style internet, but it’s a long way off
Russian President Vladimir Putin and Chinese President Xi Jinping pose for a photograph during their meeting in Beijing, on Feb. 4, 2022. Alexei Druzhinin | AFP | Getty Images As Russia’s war on Ukraine continues, Moscow has looked to tighten control over its domestic internet, cutting off apps made by U.S. technology giants, even while […]
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Berkshire Hathaway closes at a record above $500,000 a share as Buffett’s conglomerate roars back
Berkshire Hathaway class A shares achieved a key milestone Wednesday, hitting an all-time closing high of half a million dollars as Warren Buffett’s multifaceted conglomerate fires on all cylinders during the economic recovery. The class A shares gained 1.3% Wednesday, rising for a fourth straight day to close at $504,400 — its first-ever close above […]
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Dow jumps 500 points in relief rally after Fed announces first rate hike since 2018
Stocks rallied in a wild session after the Federal Reserve raised rates and said it would hike another six times this year. The Dow Jones Industrial Average rose 518.76 points, or 1.5%, to 34,063.10 after turning red initially following the release of the Fed’s statement. It swung within a 576-point range on the session. The […]
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Chinese stocks trading in the U.S. rocket higher after China signals support for the shares
Shares of Chinese companies listed publicly in the U.S. surged Wednesday as China signaled support for the stocks. Regulators from both countries are progressing toward a cooperation plan on U.S.-listed Chinese stocks, according to Chinese state media. The report cited a meeting Wednesday chaired by Vice Premier Liu He, who heads China’s finance committee. The […]
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Here’s what changed in the new Fed statement
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting on Jan. 26. Text removed from the January statement is in red with a horizontal line through the middle. Text appearing for the first time in the new statement is in red and underlined. Black text appears in both […]
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Ex-New York Gov. Andrew Cuomo considers running against Kathy Hochul despite opposition from his own party
New York Governor Andrew Cuomo and former congresswoman Kathy Hochul, campaign together at the Hotel Trade Council during a reelection campaign event on September 8, 2014 in New York City. Andrew Burton | Getty Images Former New York Gov. Andrew Cuomo is considering a run against his replacement and fellow Democrat, Gov. Kathy Hochul, as […]
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Jeffrey Gundlach says he would buy bitcoin over gold in the short term
DoubleLine Capital CEO Jeffrey Gundlach said he would prefer bitcoin to gold in the near term as the cryptocurrency trades near the low end of its range. Source
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