Commentary It was barely a month ago when OPEC+, the group of major oil-exporting nations, had announced a small increase in production. The world economy was suffering under extreme oil price pressure. President Joe Biden traveled to Saudi Arabia, one of OPEC’s largest producing members, to personally deliver his plea for relief on behalf of…
Collateral Chains Are the Real Tightening
September 8, 2022
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Business & MarketsBusiness ColumnistseconomyenergyFederal ReserveInvestmentjerome powelloil pricesOPECOpinionrecessionUSViewpointsWest Texas Intermediate
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Average US Homes Selling Below Listed Price as Market Slowdown Continues
September 7, 2022
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Business & Marketseconomyhome priceinflationInvestmentMarketsmortgage ratereal estateUSUS NewsUS Real Estate
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The average American home is now selling below its asking price for the first time since March 2021, according to data from online brokerage Redfin. According to Redfin, the average sale-to-list price ratio fell to 99.8 percent in the four-week period ended Aug. 28—the first time it was below 100 percent in almost 18 months. The number of listings…
Bed Bath & Beyond CFO Dogged by Investor Lawsuit Prior to Suicide
Gustavo Arnal, the CFO and executive VP, of the retailer Bed Bath & Beyond (BBBY), committed suicide by jumping to his death on Sept. 2, from his TriBeCa apartment known as the “Jenga Building”. Arnal joined BBBY in 2020 after previously working as the CFO for cosmetics giant Avon in London with a 20-year overseas career…
Federal Leases for Oil Drilling Fall Dramatically Under Biden
September 6, 2022
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Biden administraitonBusiness & Marketseconomic policieseconomyenergyExecutive BranchInvestmentMarketsoil drillingoil leasePoliticsUS
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The Biden administration has issued the lowest amount of federal leases to drill for oil and gas than any other administration since the end of World War Two, according to an article in the The Wall Street Journal, on Sept. 4. The drop in permits to drill offshore or on federal lands has been noticeable,…
From Retail King to Meme Craze: How Bed Bath & Beyond Crumbled
It has been a tumultuous summer for Bed Bath & Beyond, shifting from a struggling big-box retailer to a meme trader’s favorite stock. Like many other brick-and-mortar retailers, Bed Bath & Beyond has experienced a plethora of challenges in its corporate history. So, how did the American chain of international merchandise retail stores get to…
Bed Bath & Beyond CFO Facing $1.2 Billion Stock Suit When He Fell to His Death From a Skyscraper
September 5, 2022
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Bed Bath & BeyondBusiness & MarketsCompaniesCrime and IncidentseconomyInvestmentlawsuitLocal NewsMarketsNew YorkNY NewsRegional-Local NewsstockstocksUSUS News
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The executive vice president and CFO of Bed Bath & Beyond (BBBY), who took his own life by jumping from a Tribeca skyscraper on Sept. 2, had been facing a $1.2 billion stock suit since late August over allegedly inflating the company’s share value. A group of shareholders claiming a loss of around $1.2 billion sued…
Bed Bath & Beyond CFO Had Been Facing $1.2 Billion Stock Suit Before Suicide
September 5, 2022
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Bed Bath & BeyondBusiness & MarketsCompaniesCrime and IncidentseconomyInvestmentlawsuitLocal NewsMarketsNew YorkNY NewsRegional-Local NewsstockstocksUSUS News
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The executive vice president and chief financial officer of Bed Bath & Beyond (BBBY) who died from an apparent suicide when he reportedly jumped from a New York skyscraper on Sept. 2, had been facing a $1.2 billion stock suit since late August over allegedly inflating the company’s share value. The New York City medical examiner’s office said CFO Gustavo…
Can China Transition to a Consumption Economy?
Commentary The great economist Michael Pettis at Tsinghua University has noted for years the importance for the Chinese economy to shift its growth dependency away from investment and toward greater consumption. As China faces its weakest sustained economic period in modern history, it bears worth asking, can China shift toward a more consumer-focused economy? The…
Micron to Invest $15 Billion in New US Manufacturing Unit
Micron Technology Inc. will invest about $15 billion over the next 10 years in a new memory-chip manufacturing facility in Boise, Idaho, where it is based, the company said on Thursday. The investment takes into account anticipated federal grants and credits under the CHIPS and Science Act and will create 17,000 jobs by the end…
US Manufacturing Sees ‘Steepest Downturn’ Since 2008–09 Financial Crisis: S&P Global PMI
September 2, 2022
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American manufacturingBusiness & MarketsChina tariffseconomyInvestmentmanufacturing PMIS&P Global Market IntelligenceUSUS News
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U.S. manufacturing declined last month amid a loss of new orders, signaling troubling times for the sector, according to latest data from S&P Global. The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers Index (PMI) fell to 51.5 in August from 52.2 in July. This is the lowest level since July 2020, stated a news release on…
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