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Is this a recession or not? While it’s ‘not entirely clear,’ here’s what it could mean for American consumers
Americans want to know: Is this a recession or not? Officially, the National Bureau of Economic Research defines recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.” In fact, the latest quarterly gross domestic product report, which tracks the overall health of the economy, showed…
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Munis follow UST rally post-weak GDP; fund inflows return
Municipals were stronger and inflows returned Thursday, following a rally in U.S. Treasuries after GDP numbers came in weaker for the second month in a row and a day after the Fed hiked rates 75 basis points. Equities ended in the black. Triple-A municipal yields fell up to eight basis points, depending on the scale,…
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Outgoing California DOF chief tested by state’s rollercoaster finances
Walt Disney couldn’t dream up a rollercoaster to rival the curves that California’s fiscal policymakers have had to navigate over the past two decades. In an historically short time frame, the state experienced the 2000 energy crisis that forced out then-Gov. Gray Davis; paid off $7 billion of deficit bonds issued by Gov. Arnold Schwarzenegger…
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US economy shrinks for second quarter in a row
The US economy shrank for a second consecutive quarter, meeting one of the common criteria for a technical recession and complicating the Federal Reserve’s push to stamp out soaring inflation with a string of aggressive rate rises. Data published by the commerce department on Thursday showed gross domestic product fell by 0.9 per cent on…
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Tokenomics not Ponzi-nomics: Influencing behavior, making money
Economics is the study of human behavior involving scarce resources — and the effects those behaviors have on those resources, explains Roderick McKinley. Tokenomics in crypto is a related but different field. Tokens are a way for projects to raise funds and build communities, and designing the way they work can be much more complex…
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Is Alphabet (GOOGL) a Buy Heading into Q2 Earnings Announcement?
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Stocks making the biggest moves in the premarket: Stanley Black & Decker, Southwest Airlines, Harley-Davidson and more
Take a look at some of the biggest movers in the premarket: Spirit Airlines (SAVE) – Spirit shares rose 3.9% in premarket trading after it agreed to be acquired by JetBlue (JBLU) for $33.50 per share in cash. That follows yesterday’s rejection by shareholders of Spirit’s previous deal to merge with Frontier Airlines parent Frontier…
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Fed policy and crumbling market sentiment could send the total crypto market cap back under $1T
The total crypto market capitalization broke above $1 trillion on July 18 after an agonizing thirty-five-day stint below the key psychological level. Over the next seven days, Bitcoin (BTC) traded flat near $22,400 and Ether (ETH) faced a 0.5% correction to $1,560. Total crypto market cap, USD billion. Source: TradingView The total crypto capitalization closed…
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$21.5 Million Estate Offers Prime Spot In Toronto’s Wealthy Bridle Path Enclave
Massive, multimillion dollar mansions may seem de rigueur in Toronto’s tony Bridle Path neighborhood, but there are firsts among equals. A prime example of the top-tier estates for sale in the North York enclave is this 18,276-square-foot mansion and detached coach house set on two manicured acres. The stone-faced residence at 11 High Point Road…
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Here’s what the Federal Reserve’s back-to-back 75-basis point interest rate hikes mean for you
The Federal Reserve raised the target federal funds rate by another 0.75 percentage points at the end of its two-day meeting Wednesday, in an effort to curb unrelenting inflation. Fed officials have already raised benchmark short-term borrowing rates 1.5 percentage points this year, including June’s 75-basis point increase, which marked the largest increase in nearly three decades. The…
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‘I have Bitcoin for the benefit of my kids,’ says Gibraltar MP
Located in Europe, on the southern tip of Spain, the British Overseas Territory of Gibraltar is a bubbling hotbed of cryptocurrency adoption. In an interview with Cointelegraph, Albert Isola, Minister for Digital and Financial Services for Her Majesty’s Government of Gibraltar, explained the territory’s approach to crypto and shed some light on his own investment…
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Munis stronger on the day amid Fed rate hike
Municipals were firmer following the Fed’s decision to hike rates another 75 basis points, while U.S. Treasuries rallied on the short end and equities ended up. Despite this being another “outsize rate increase” of 75 basis points, Brian Coulton, chief economist for Fitch Ratings, said “the Fed has still only raised interest rates back into…
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Nonprofit hospitals face pressure if reconciliation bill fails
The latest version of a much-negotiated spending bill that Senate Democrats hope to pass before the end of next week features a provision that’s key to the stability of the nonprofit health care sector, market participants said. After passing the House in December as a $1.75 trillion Build Back Better legislation that encompassed President Joe…
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European gas price rise accelerates as Russia cuts flows
European gas prices jumped higher on Wednesday after Russia followed through on its threat to further reduce supplies to the region, increasing the risk the continent could face shortages in the winter months. Gas prices rose as much as 13 per cent on Wednesday as flows on the Nord Stream 1 pipeline were cut to…
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Chef’s Warehouse (CHEF) and AZEK (AZEK): 6/30/2022 Bull & Bear
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Credit Suisse CEO to step down from embattled investment bank, WSJ says
In this article CS Credit Suisse Chief Executive Thomas Gottstein addresses the Finanz und Wirtschaft Forum conference in Zurich, Switzerland, September 2, 2020. Arnd Wiegmann | Reuters Credit Suisse CEO Thomas Gottstein is about to step down from the embattled investment bank, the Wall Street Journal reported on Tuesday. The Zurich-based bank will soon announce…
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Stocks making the biggest moves premarket: Boeing, Hilton, Spotify, Garmin and more
In this article SHOP-CA TPX GRMN SPOT HLT BA Check out the companies making headlines before the bell: Boeing (BA) – Boeing posted a wider-than-expected quarterly loss with revenue that fell below consensus estimates. However, Boeing reported positive operating cash flow and, unlike in prior quarters, did not see any charges related to the production…
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PropTech Startup Makes Buying And Selling Your Home Easier And Cheaper
In 2021, 6.9 million homes were bought and sold in the U.S., according to Statista. Real estate transactions are highly administrative and technology makes them more efficient. The PropTech industry—real estate technology—is expected to grow from $18.2 billion in 2022 to $86.5 billion in 2032, according to Future Market Insights. Consumers want better home buying-and-selling…
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Top Federal Reserve officials say they misread inflation and now plan to correct the course
Top officials at the Federal Reserve were seeing inflation data come in very hot for months before policymakers moved to wind down monetary policies that were stimulating the economy. A chorus of analysts, economists and former policymakers have chimed in, saying that was a mistake. “The forward guidance, overall, slowed the response to the Fed…
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Dubai Police to Release Second Collection of NFTs — Nearly 23 Million Show Interest in First Collection
Months after rolling out its first collection of non-fungible tokens (NFTs), the Dubai Police has said it will launch the next collection at the 2022 edition of The Gulf Information Technology Expo (GITEX). People from outside the country will also get a chance to own the next Dubai Police NFT collection. First Government Entity in…
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