The latest report from Redfin attests to one of the most competitive housing markets on record: as housing prices rise at the fastest rate in years, prospective buyers have become less likely to invest in real estate, resulting in a diminishing rate of home sales in the past month. According to Redfin’s data, seasonally-adjusted home…
Poison Pill Tactic Makes ‘Coercive’ Takeover Difficult: Twitter
Twitter’s adoption of a so-called poison pill tactic makes it harder for a hostile takeover, the company said on April 18. Twitter’s board on Friday announced that a person or entity buying at least 15 percent of Twitter’s outstanding stock without approval would trigger the poison pill, which enables other stockholders to buy shares at…
New EU Sanctions on Russia to Target Sberbank, Commission Head Tells Paper
April 18, 2022
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bankBusiness & Economyeconomic policieseconomyEUEuropeMarketsOilRussiaRussia-Ukraine WarsanctionsSberbankUrsula von der LeyenWorld
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The European Union’s forthcoming sanctions on Russia will target banks, in particular, Sberbank, as well as oil, the head of the European Commission Ursula von der Leyen, told a German newspaper. Bild am Sonntag, in an interview published on Sunday, asked her to name the key points of a planned sixth round of sanctions. “We…
China’s Economy in March Shows Weakness as ‘Zero-COVID’ Bites, Suggesting Hard Grind Ahead
China’s economy slowed in March, seeing a contraction in both domestic consumption and factories activities as Beijing’s sweeping COVID-19 lockdowns takes their toll across the country, official data shows. The figures came after financial hub Shanghai has for weeks been gripped by an unprecedented city-wide lockdown, and hundreds of millions subject to stay-at-home orders around…
Ruble Firms Past 79 Versus Dollar, Stocks Down
The ruble briefly firmed past the 79 mark against the dollar on Monday, while stock indexes fell as the market lacked new momentum and investors watched developments around what Russia calls “a special military operation” in Ukraine. The Ukrainian foreign minister said over the weekend there had not been any recent diplomatic communications between Russia…
Stimulus Spending Main Cause of Red-Hot Inflation, Not Supply-Side Bottlenecks: Former Fed Official
April 18, 2022
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Business & Economyeconomygovernment spendinginflationInvestmentMarketspersonal financePolicies & Impactssupply chainUS
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Supply chain snarls are “more of a symptom than a cause” of surging inflation, with the key factor driving up prices being massive government spending on pandemic emergency programs that caused demand to balloon against a backdrop of squeezed supply, according to former Federal Reserve Bank of Richmond President Jeffrey Lacker. “Simple sayings are often…
Ex-Fed Official Says Stimulus Spending Main Cause of Red-Hot Inflation, Not Supply-Side Bottlenecks
April 18, 2022
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Business & Economyeconomygovernment spendinginflationInvestmentMarketspersonal financePolicies & Impactssupply chainUS
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Former Federal Reserve Bank of Richmond President Jeffrey Lacker said that supply chain snarls were “more of a symptom than a cause” of surging inflation, with the key factor driving up prices being massive government spending on pandemic emergency programs that caused demand to balloon against a backdrop of squeezed supply. “Simple sayings are often…
Russia Flags Further Rate Cut, More Budget Spending
April 18, 2022
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budgetBusiness & Economycrisiseconomic policieseconomyEuropeMarketsrateRussiaRussia-Ukraine WarspendingUkraineWorld
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Russia on Monday flagged a likely further cut in interest rates and more budget spending to help the economy adapt to western sanctions. Russia faces soaring inflation and capital flight while grappling with a possible debt default after the West imposed unprecedented sanctions to punish President Vladimir Putin for sending tens of thousands of troops…
Food Crisis Triggered by Russia–Ukraine Conflict Could See Mass Migration From Central America to US: UN Official
April 18, 2022
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AmericasBusiness & EconomyeconomyEuropefood crisisInternationalmigration crisisRussia-UkraineRussia-Ukraine WarWorld
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The ongoing Russia–Ukraine conflict and subsequent global food crisis could destabilize nations and create mass migration from Central America to the United States, David Beasley, the executive director of the United Nations World Food Programme, said on April 17. Beasley told CBS News’ “Face the Nation” that there is “no question” that Russian President Vladimir Putin is using…
Dorsey Rips Twitter Board for ‘Dysfunction’ After Musk Accuses It of Failing to Represent Shareholders
April 18, 2022
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Business & EconomyCompaniesElon MuskInvestmentJack DorseyMarketsMedia & Big TechSocial MediaTechTwitterUSUS News
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Twitter co-founder Jack Dorsey penned a scathing tweet over the weekend calling the company’s board of directors a consistent source of dysfunction after Tesla CEO Elon Musk accused the Twitter board of failing to represent the interest of shareholders. Dorsey made the remark in a tweet thread initiated by Garry Tan, co-founder of Initialized Capital, who…
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