The U.S. Securities and Exchange Commission (SEC) is used to going after insider traders, pump and dumpers, and fraudulent advisors. But yesterday, the federal regulatory agency went after a new group: retail investors. The SEC posted a video on its YouTube channel encouraging retail investors (everyday people buying stocks) to do research before investing. The video…
US Manufacturing Grows Solidly But Inflation and Labor Crunch Take Toll
America’s manufacturing sector expanded in May, according to two separate sets of U.S. factory performance gauges, which diverged in the details but both showed hiring difficulties and inflationary pressures weighing on economic activity. One of the measures, the Institute for Supply Management’s (ISM) Manufacturing PMI, rose to 56.1 percent in May from 55.4 percent in…
Mercedes-Benz Lays First Stone of New Battery Cell Campus in Germany
BERLIN—Mercedes-Benz laid the first stone of a new research and development campus at its Untertuerkheim site in Germany on Tuesday which will research, design, and begin small series production of battery cells from 2023, the carmaker said. The campus, in which Mercedes-Benz is investing a three-digit-million euro sum, will also have a battery safety lab…
Russia’s Gazprom Halts Gas Deliveries to Dutch Trader GasTerra, Effective Immediately
May 31, 2022
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Business & EconomycommoditiesCompanieseconomyEuropeGasGazpromInvestmentMarketsRussia-Ukraine WarWorld
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Russia’s Gazprom has cut off gas supplies to Dutch gas trader GasTerra after it had failed to comply with requirements to pay for deliveries in Russian rubles. GasTerra said in a statement on May 30 that it has “decided not to comply with Gazprom’s one-sided payment requirements.” Russian President Vladimir Putin issues a decree in March stating that from…
Moscow Shrugs Off EU Oil Ban: ‘Russia Will Find Other Importers’
May 31, 2022
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Business & EconomycommoditieseconomyEuropeInternationalInvestmentMarketsoil banRussiaRussia-Ukraine WarUkraine warWorld
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Moscow struck a defiant tone in reaction to the European Union’s new partial ban on Russian oil imports, with a senior Kremlin official saying his country would simply pivot to other importers. E.U. leaders agreed at a May 30 summit in Brussels to embargo the majority of Russian oil imports into the bloc by the…
Former Disney CEO Bob Iger Takes Stake in This $40 Billion Design Company
Bob Iger, the former CEO of Walt Disney Co., has acquired a stake in Australian design company Canva, according to CNBC. More than 75 million customers use the company’s software every month. In addition, after raising funds in September, Canva is now valued at $40 billion. Talking about the new development, Canva spokesman Lachlan Andrews…
Russia Plans Bond Payment System Like Rubles-for-Gas Scheme to Get Around Sanctions
May 30, 2022
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bondBusiness & Economyeconomic policieseconomyEuropeInternationalInvestmentMarketsRussiaRussia-Ukraine WarsanctionsWorld
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Russia’s finance chief said Moscow is planning a new system for making foreign bond payments similar to the rubles-for-gas scheme in an effort to prevent a historic sovereign default after Washington ended a key sanctions exemption that raised Russia’s chances of defaulting on its debt. Anton Siluanov, Russia’s finance minister, was cited by Vedomosti on…
Musk Raises ‘Trust Issues’ on Bill Gates’ Multi-Billion-Dollar Bet Against Tesla
May 29, 2022
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Bill GatesBusiness & EconomyCompanieseconomyElon MuskInvestmentMarketsMedia & Big TechstocksteslaUSUS News
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Elon Musk called out former Microsoft CEO Bill Gates again for shorting Tesla’s stock, casting doubts on his goodwill in fighting climate change given the latter’s multi-billion-dollar bet against the electric carmaker. In a series of Twitter posts, Musk disclosed Gates’ short position would now require up to $2 billion to close out. The position…
Mortgage Payment Costs Rise 45 Percent This Year, Worsening Home Affordability
The monthly mortgage payment for a typical home in the United States for new buyers has climbed by 45 percent or about $600 over the previous year, according to the estimates by the National Association of Realtors (NAR). In April, the average monthly mortgage payment for a single-family home increased to $1,900, based on a…
Is the American Dream of Home Ownership Vanishing?
How much money do we really need to buy a home, and can we afford it? These are questions that real estate agents and mortgage professionals hear every day, and the answer is always the same—it all depends on many different factors. Sheetal Sawhney, originating branch manager at CrossCountry Mortgage’s office in North Bergen, New…
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