With Republicans in control of the lower chamber of Congress and Democrats holding power in the Senate and White House, a deal proved elusive for weeks until the President and House Speaker Kevin McCarthy found a compromise last weekend. Too easy to borrow – more debt please The agreement suspendsRead More →
Tesla CEO Elon Musk is the world’s richest person again, after shares of the electric car maker rose about 24% in May, according to latest data released today. Musk’s fortune climbed around 40% year-on-year to $192 billion, this according to the Bloomberg Billionaires Index. Musk vs LVMH Musk previously lostRead More →
Euro zone inflation eased more than expected in May falling from 7% in April down to 6.1% in May. This is the lowest level recorded 15 months the data suggests. Analysts had expected a May reading of 6.3%. Core inflation, excluding energy and food, also fell more than expected, toRead More →
IMF says risks to financial stability have increased and to remain vigilant International Monetary Fund chief Kristalina Georgieva said on Sunday that, ‘risks to financial stability have increased and called for continued vigilance although actions by advanced economies have calmed market stress’. Challenge The IMF managing director is reported toRead More →
Deutsche Bank’s U.S. listed shares fell 10% in pre-market trading. European stocks came under pro-longed pressure Friday morning as banking sector woes fail to disperse. The DAX and FTSE 100 indices each fall by more than 2% in early morning trade. Central Banks Investors have been assessing the global centralRead More →
Could gold reach new highs and stay there? Gold prices likely have more room to rise and could go as high as $2,500 per troy ounce, some analysts suggest. Investors have been turning to gold after the collapse of Silicon Valley Bank and after the struggles Credit Suisse and worryRead More →
Coinbase warning The U.S. Security & Exchange Commission – (SEC), issued the crypto exchange Coinbase with a ‘Wells’ notice, warning the exchange that it identified potential violations of U.S. securities law. A ‘Wells’ notice is one of the final steps taken before the SEC formally issues charges. It lays outRead More →
Accusations It is widely reported that the SEC (Securities & Exchanges Commission) – accuses Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen of breaching U.S. securities laws by selling XRP without first registering it with the regulator. Ripple contests the SEC’s allegations, maintaining the view that XRP should be consideredRead More →
The recent inflation increase heaped on even more misery and pressure for the public as interest rates climb yet again in an effort to curb inflation Interest rate up As UK inflationary pressure increased again, as demonstrated recently by the unexpected move up from 10.1% to 10.4% – the BankRead More →
Swiss bank interest rate is now at 1.5% The Swiss National Bank increased its core interest rate by 0.50% taking the basic rate to 1.5%. The rate change is the fourth consecutive hike, in-line with analyst expectations, despite the recent turmoil in Switzerland’s banking sector. Swiss inflation climbed to 3.4%Read More →