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Things to watch when interest rates go up
05/02/2023 08:00pm • The Federal Reserve raised interest rates seven times in 2022 and twice -- so far -- in 2023, with the most recent increase of 0.25% occurring in March 2023. Its aim is to cool inflation, which is near its highest levels since the '80s. In a recent Reuters poll, economists predicted only one more
Editorial Roundup: United States
05/02/2023 05:07pm • Excerpts from recent editorials in the United States and abroad: April 26 The Washington Post on a U.S. Supreme Court code of ethics It was never realistic to expect that Chief Justice John G. Roberts Jr. would go before Congress for a clobbering over Supreme Court ethics rules. But citizens are ent
Bank stocks continue to fall following First Republic demise
05/02/2023 04:52pm • NEW YORK (AP) — Regulators have barely written the epitaph for First Republic Bank, but investors on Wall Street have already moved onto speculating which bank might be the next to fail. Bank stocks fell sharply Tuesday, led downward by smaller banks with heavy exposure to uninsured deposits and
Greece looks to Vienna for new boost on Parthenon Sculptures
05/02/2023 01:52pm • ATHENS, Greece (AP) — Museums in Austria and Greece are discussing the potential return to Athens of two ancient Greek sculptures, a move which could have a knock-on effect for the world's thorniest cultural heritage dispute: the fate of the British Museum's Parthenon Sculptures. The talks announc
Challenger in Turkey presidential race offers sharp contrast
05/02/2023 02:33am • ANKARA, Turkey (AP) — The main challenger trying to unseat Turkish President Recep Tayyip Erdogan in this month's presidential election cuts a starkly different figure than the incumbent who has ruled the country for two decades. Where Erdogan is a mesmerizing orator, the unassuming Kemal Kilicdar
Stock market today: Asia shares mixed on holiday mode trade
05/01/2023 11:30pm • TOKYO (AP) — Asian shares were mixed Tuesday with some markets closed or anticipating holidays and investors showing muted reaction to the latest historic U.S. banking failure. Japan's Nikkei 225 edged up 0.2% to 29,175.44 in morning trading. Trading in Tokyo will be closed for Golden Week holiday
Why First Republic failed. Are other banks to follow?
05/01/2023 08:48pm • First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks. Like Silicon Valley Bank, which was seized by the government on March 10, First Republic catered to a wealthy clientele, which helped it grow deposits rapidly but may have also co
I Bonds: The Risk-Free Asset Yielding 4.3%
05/01/2023 08:00pm • The U.S. consumer price index, or CPI, rose by 5% year over year in March, well above the Federal Reserve's long-term target of 2% inflation. For Americans concerned about falling stock prices and soaring inflation, U.S. I bonds may be an attractive option. The U.S. Department of the Treasury recent
Pot consulting paid Oregon secretary of state $10K monthly
05/01/2023 06:40pm • SALEM, Ore. (AP) — Oregon Secretary of State Shemia Fagan apologized Monday for taking a job as a consultant for a marijuana company — part of an industry that her office just audited — that paid far more than her state salary. After previously refusing to disclose the terms of her contract, F
Castellanos scores again as Girona beats Sevilla in La Liga
05/01/2023 05:25pm • MADRID (AP) — Former Major League Soccer scoring leader Taty Castellanos struck again, and Girona followed up its win against Real Madrid with another against Sevilla in the Spanish league on Monday. Juanpe Ramírez scored in the 23rd minute and Castellanos sealed the 2-0 victory in the 55th to gi
First Republic Bank seized, sold in fire sale to JPMorgan
05/01/2023 04:22pm • NEW YORK (AP) — Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to end the turmoil that has raised questions about the health of the U.S.
Democratic Sen. Cardin of Maryland retiring after 3 terms
05/01/2023 04:14pm • ANNAPOLIS, Md. (AP) — Democratic Sen. Ben Cardin of Maryland announced Monday that he plans to retire at the end of his third term, triggering what is likely to be a highly competitive primary to replace him in the blue-leaning state. The decision by Cardin, a longtime fixture of Maryland politics
Fed is set to raise rates yet again. After that, then what?
05/01/2023 10:41am • WASHINGTON (AP) — The Federal Reserve is on track to raise its benchmark interest rate for the 10th time on Wednesday, the latest step in its yearlong effort to curb inflation with the fastest pace of hikes in four decades. Yet economists and Wall Street traders will be more interested in what th
6 things everyone should know about money before 30
05/01/2023 09:10am • Saving for retirement, becoming wholly financially independent or reaching debt freedom might seem intimidating or even out of reach at a young age. But it's important for young individuals to start making good money decisions if they want to have financial success later in life. Here are some of
Paraguay's long-ruling Colorado Party has easy election win
05/01/2023 06:39am • ASUNCIÓN, Paraguay (AP) — Paraguayans voted overwhelmingly to keep the long-ruling Colorado Party in power for five more years, backing its presidential candidate and giving it majorities in both houses of Congress. Santiago Peña, a 44-year-old economist, had 43% of the votes in a preliminary co
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