Month: June 2022
Jeremy Siegel says 100 basis point rate hike is ‘medicine to stop this inflation’
Wharton’s Jeremy Siegel is calling for a 100 basis point rate hike, and says markets may be “close to the bottom.” A 100 basis point rate hike by the Federal Reserve on Wednesday will be “medicine to stop this inflation,” the Wharton professor of finance at the University of Pennsylvania told CNBC on Wednesday. “The Fed needs […]
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Bill Gates says crypto and NFTs are ‘100% based on greater fool theory’
Bill Gates Gerard Miller | CNBC Bill Gates is not a fan of cryptocurrencies or non-fungible tokens. Speaking at a TechCrunch talk on climate change Tuesday, the billionaire Microsoft co-founder described the phenomenon as something that’s “100% based on greater fool theory,” referring to the idea that overvalued assets will go up in price when […]
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European Central Bank announces emergency meeting to discuss market rout
Christine Lagarde, President of the European Central Bank. The central bank has scheduled a last-minute meeting amid rising bond yields. Daniel Roland | Afp | Getty Images The European Central Bank announced an unscheduled monetary policy meeting for Wednesday, at a time when bond yields are surging for many governments across the euro zone. “They […]
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Ukraine says delays over weapon supplies ‘cannot be justified’; Russia edges toward taking full control of Severodonetsk
Ukraine says ‘procrastination’ over its need for weapons ‘cannot be justified’ Ukrainian President Volodymyr Zelenskyy attends a joint statement with European Commission President Ursula, as Russia’s invasion of Ukraine continues, in Kyiv, Ukraine June 11, 2022. Valentyn Ogirenko | Reuters Ukraine’s patience over its lack of long-range weapons appears to be wearing thin with Ukrainian […]
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Travelers are upset about rising costs, but most aren’t canceling their plans just yet
Summer travel talk sure isn’t what it used to be. Rather than sun, sand and surf, many travel discussions now center on inflation, rising fuel costs and flight cancellations, a situation which could derail a much-needed 2022 summer travel comeback. Travel conversations on Twitter decreased 75% from April to May, while discussions related to gas […]
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MicroStrategy denies it received a margin call against its bitcoin-backed loan, report says
Software company MicroStrategy has not received a margin call against its loan from crypto-focused bank Silvergate, Reuters reported on Wednesday. Valerie Plesch | Bloomberg | Getty Images Aggressive bitcoin investor and American software firm MicroStrategy says it hasn’t received a margin call against a $205 million bitcoin-backed loan it took in March, according to a […]
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Indonesians are increasingly wary of Australia, but its new leader wants to change that
Australian Prime Minister Anthony Albanese returns from laying a wreath at Indonesia’s National Heroes Cemetery on June 6, 2022 in Jakarta, Indonesia. Albanese made his first trip to Indonesia promising to strengthen ties during two days of diplomatic and business meetings. Ed Wray | Getty Images Long before Australia’s new Prime Minister Anthony Albanese made […]
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China’s economic numbers come in better than expected, but ‘difficulties and challenges’ remain
New energy vehicles, which include hybrid and battery-powered cars, have seen sales surge in China despite a slump in the overall car market. Pictured here is an unnamed new energy vehicle factory in Jiangsu province on June 13, 2022. Wan Shanchao | Visual China Group | Getty Images BEIJING — China released economic data for […]
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Jim Cramer calls for ‘monster rate hikes’ ahead of key Fed decision
CNBC’s Jim Cramer on Tuesday called for Federal Reserve Chair Jerome Powell to implement aggressive interest rate hikes to tamp down inflation. “Jay Powell can’t solve the war in Ukraine. He can’t get more oil out of the ground. … The same goes for the other big source of inflation, food,” the “Mad Money” host […]
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Strategist names 3 chip stocks in a ‘very, very good position right now’
A number of semiconductor stocks look “very stable” despite market choppiness, according to Cascend Securities’ Eric Ross. Source
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