Economy
Sri Lanka parliament to meet as protests put ruling Rajapaksas under pressure
Protestors take part in a demonstration at the entrance of the president’s office in Colombo on April 4, 2022. Sri Lanka’s opposition on April 4, 2022 rejected the president’s invitation to form a unity government as “absurd,” calling instead for his resignation because of worsening food, fuel and medicine shortages in the country. Ishara S. […]
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‘Bear market rally’ is setting stage for a correction, Morgan Stanley’s Mike Wilson warns
A major Wall Street firm is on correction watch. Despite the latest market bounce, Morgan Stanley’s Mike Wilson is bracing for an S&P 500 decline of at least 13% between now and September. Wilson cited technical headwinds on CNBC’s “Fast Money” on Monday. “It does have all the hallmarks of what I would call a […]
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Goldman names four megatrends with ‘oversold’ stocks to buy right now
Goldman Sachs Asset Management says some stocks currently offer a “hugely attractive entry point” for investors. Source
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Stocks making the biggest moves midday: Twitter, Starbucks, Tesla and more
Andrew Burton | Getty Images News | Getty Images Check out the companies making headlines in midday trading. Twitter — The social media company soared 26.6% after a filing revealed that Elon Musk has taken a 9.2% passive stake in the firm, worth about $2.9 billion. The purchase came weeks after the Tesla CEO polled […]
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Britain announces plans to mint its own NFT as it looks to ‘lead the way’ in crypto
In this photo illustration a novelty Bitcoin token is photographed on £10 notes. Matt Cardy | Getty Images LONDON — The U.K. government on Monday announced plans to mint its own non-fungible token, as part of a push toward becoming a “world leader” in the cryptocurrency space. Finance Minister Rishi Sunak has asked the Royal […]
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5 things to know before the stock market opens Monday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street looks steady; key Treasury spreads remain inverted Traders on the floor of the NYSE, March 31, 2022. Source: NYSE U.S. stock futures were mixed Monday, with the tech-heavy Nasdaq looking modestly higher. Twitter shares soared […]
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Russia faces barrage of new sanctions after accusations of atrocities in Bucha, Ukraine
A man gestures at a mass grave in the town of Bucha, northwest of the Ukrainian capital Kyiv on April 3, 2022. Sergei Supinsky | AFP | Getty Images The U.S. and its European allies are preparing to deliver another slew of sanctions on Russia following mounting evidence of war crimes committed by its forces […]
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Dimon says confluence of inflation, Ukraine war may ‘dramatically increase risks ahead’ for U.S.
Jamie Dimon, CEO of JPMorgan Chase speaks to the Economic Club of New York in New York, January 16, 2019. Carlo Allegri | Reuters Jamie Dimon, CEO and chairman of the biggest U.S. bank by assets, pointed to a potentially unprecedented combination of risks facing the country in his annual shareholder letter. Three forces are […]
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How Russian banks got cut out of global finance: A ‘SWIFT’ system explainer
Several Russian banks were banned from the SWIFT financial-messaging system following Russia’s full-scale invasion of Ukraine. So, what does it mean to lose access to this important part of the international economy, and are there any viable alternatives? Effective communication systems are the backbone of how the world stays connected, from mobile phones, email networks, […]
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Stock futures are flat after S&P 500 notches third straight week of gains
Traders on the floor of the NYSE, March 25, 2022. Source: NYSE U.S. stock index futures were flat during overnight trading Sunday, after the S&P 500 posted a third straight week of gains. Futures contracts tied to the Dow Jones Industrial Average slid 14 points. S&P 500 futures were flat, while Nasdaq 100 futures declined […]
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