Morgan Stanley co-President Ted Pick said investors face the daunting task of navigating the twin threats of red-hot inflation and economic cooling, warning that global markets are on the verge of a major “paradigm shift” away from years of easy money policies that will drive heightened volatility for an extended period to come. “We’ll have…
Morgan Stanley Executive Warns of Turbulent ‘Paradigm Shift’ in Markets as Inflation Soars and Recession Looms
Elon Musk Says Twitter Is ‘Resisting’ Terms of Deal, Threatens Termination
Elon Musk accused Twitter of “resisting and thwarting” his ability to obtain information about bot accounts on the social media website, saying that it’s a “breach” of the terms of their April deal. Musk, the world’s richest person, sent a letter to the San Francisco-based firm on Monday, saying, “Mr. Musk reserves all rights resulting…
State Officials Fight Wall Street to Protect Pensioners From ESG ‘Scam’
June 5, 2022
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Big Tech, Censorship, and SocialismBlackRockBusiness & Marketseconomic policieseconomyESGExecutive BranchFeatured TopicsInvestmentpensionersPoliticsUSWall Street
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After failing to advance their agenda by passing laws in Congress, progressives have found that they can impose their will on Americans just as effectively through our financial system. And while some state officials have recently started to fight back, they are heavily outgunned. The world’s largest asset managers, BlackRock, State Street, and Vanguard, have…
7 Types of Investments You Should Know About
Investing is an important part of preparing for the future. If you want to retire someday, investments and other retirement savings are vital for success. But if you don’t know where to start, the entire world of investments can feel intimidating. Here is a list of seven types of investments you should know about and how…
Consumers Lost at Least $1 Billion in Cryptocurrency Scams in Early 2021, Says FTC
June 3, 2022
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Business & EconomyCrime and Incidentscrypto fraudcryptocurrencyeconomyFTC - U.S. Federal Trade CommissionInvestmentMarketsUS
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More than 46,000 American consumers have officially reported a total loss of $1 billion in cryptocurrency to fraud from January 2021 through March 2022, according to a new June 3 report from the Federal Trade Commission. The FTC reported that the data is based on fraud reports made directly to the agency, which means that…
Chinese Stocks Face Massive Delisting As US Fortifies Investor Protection
News Analysis Once upon a time, Chinese stocks enjoyed a certain privilege in the United States, a getaway from the scrutiny of the Public Company Accounting Oversight Board (PCAOB), which all foreign companies listed in the United States need to undergo. Now, the chair of the U.S. Securities and Exchange Commission (SEC) is adamant that Chinese…
Biden Jabs at Musk’s ‘Super Bad Feeling’ About Economy, Musk Replies With Disarming Tweet
June 3, 2022
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Business & EconomyCompanieseconomyElon MuskExecutive BranchInvestmentJoe BidenMarketsPoliticsUSUS News
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President Joe Biden took a jab at Tesla CEO Elon Musk’s “super bad feeling” about the economy comment when asked about it at a Friday press briefing on the government jobs report, insisting the labor market is in good health and suggesting Musk was out of touch with reality, drawing a reaction from Musk on Twitter….
Elon Musk Has ‘Super Bad Feeling’ About Economy, Calls to Cut 10 Percent of Tesla Staff
Tesla CEO Elon Musk said in an internal company email viewed and reported on by Reuters that he had a “super bad feeling” about the economy and that the electric car giant needed to slash employment by around 10 percent. The email, which was reportedly titled “pause all hiring worldwide,” was sent on June 2…
Housing Beat: Mortgage Rates Flatten as Sun Belt Sees New Boom in Home Building
This week in the housing market, mortgage rates were mostly flat, mortgage application volume was down and the Sun Belt is shining with new single-family home construction. On the Mortgage Front Freddie Mac reported the 30-year fixed-rate mortgage averaged 5.09 percent as of June 2, down slightly from last week’s 5.10 percent average. The 15-year fixed-rate mortgage…
Producer Price Inflation in Eurozone Soars to Record High
Producer price inflation in the eurozone surged to a record high in the year through April, though month-over-month data showed inflationary pressures edging down, as European Central Bank officials consider how fast and how much to tighten monetary settings to tame soaring prices. The E.U. statistics office Eurostat said in a June 2 statement (pdf) that the…
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