LONDON/SYDNEY—World shares edged higher on Monday courtesy of gains in China, while rising Treasury yields lifted the dollar to a near three-year peak against the Japanese yen. Brent oil prices extended their bull run to reach ground last visited in late 2018, with gains across the energy complex stoking inflation concerns. “Higher energy prices, shortages…
Rising Yields Lift Dollar as Oil Surges
Stagflation Fears Stalk Shares, Rising Yields Lift Dollar
LONDON—Stagflation jitters stunted growth in global shares on Monday, while bets that major central banks will tighten monetary policy pushed up bond yields and lifted the dollar to a near three-year peak against the Japanese yen. Brent oil prices extended their bull run to reach ground last visited in late 2018, with gains across the…
Surging Oil Prices Lift Material, Energy Stocks on Wall Street
NEW YORK/LONDON—Oil prices surged again on Monday to multi-year peaks, giving a fillip to materials and energy shares and helping U.S. stocks to reverse early declines as investors looked past stagflation risks for now. U.S. crude jumped 2.28 percent to $81.16 per barrel, a level not seen since late 2014, and Brent rallied 1.9 percent…
NYC to Cancel Accelerated Learning Program for Gifted Kids
New York City mayor Bill de Blasio has announced plans to cancel the “Gifted and Talented” accelerated learning program for schoolchildren, drawing praise from those who called the scheme discriminatory and condemnation from those who say it harms hardworking students. Starting next fall, New York City will stop testing kindergartners for entry into the gifted and…
Four States in Northeast US Sign Pact to Share Data on Guns
New York and three other states signed a pact this week to share information on guns used in crimes. New York Gov. Kathy Hochul and three other Democrats—Connecticut Gov. Ned Lamont, Pennsylvania Gov. Tom Wolf, and New Jersey Phil Murphy on Thursday announced the agreement (pdf), which says that “gun violence continues to plague communities”…
4 States in Northeastern US Sign Pact to Share Data on Guns
New York and three other states have signed a pact to share information on guns used in crimes. New York Gov. Kathy Hochul and three other Democrats—Connecticut Gov. Ned Lamont, Pennsylvania Gov. Tom Wolf, and New Jersey Phil Murphy—announced the agreement (pdf) on Oct. 7. According to the agreement, “gun violence continues to plague communities”…
NYC Taxi Drivers Vow to Continue Protesting Against Medallion Relief Plan
Saying they are drowning in debt, the Yellow Cab drivers of New York have taken to the streets outside City Hall to protest against what they see as insufficient help from the government. New York City has a $65 million Medallion Relief Plan (MRP) that provides a $20,000 down payment to help restructure taxi-medallion-related loans…
NYC Mayor Accused of Misusing Security Detail
According to the city’s independent inspector general, New York City Mayor Bill de Blasio hasn’t paid for the security expense that occurred during his presidential campaign and misused his security detail for his guests or his family’s benefit. Margaret Garnett, Commissioner of the city’s Department of Investigation, a de Blasio appointee, issued a report (pdf)…
Wall Street Mixed After September Jobs Miss
U.S. stocks oscillated between gains and losses on Friday after data showed U.S. jobs rose far less than expected in September, but not slow enough to throw the Federal Reserve off its presumed course of tapering asset purchases this year. Six of the 11 major S&P sectors declined, with defensive real estate, healthcare, and utilities…
NYSE Like a Drugged Bull in Bullfight Over Share Orders, Exchange President Says
NEW YORK—The head of the New York Stock Exchange on Thursday called for regulators to change rules that make it difficult for the NYSE to compete for stock orders, as the market share of exchanges has dwindled versus off-exchange trading platforms during the retail trading boom. “On exchange, we are artificially constrained from competing for…
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