While Republicans Push Back, Democrats Double Down On Woke Investing
The New York City Comptroller, Brad Lander, threatened to pull billions from asset managers that refused to support his recent climate resolutions, the latest salvo in the battle between Democrats, Republicans and investors over environmental, social and corporate governance investment strategies. While Republicans have pulled billions from asset managers for using pension funds to forward […]
Biden Admin’s Decision To Send New Tanks To Ukraine Offers Huge Payout To Defense Contractors
The Biden administration’s decision to send new M1 Abrams to Ukraine instead of moving excess tanks out of storage or refurbishing those operated by partner countries adds to defense companies’ revenues related to the Ukraine war. Each tank costs more than $10 million to produce. “We just do not have these Abrams available in our […]
American Oil Giant Shatters Earnings Record On The Back Of Soaring Gas Prices
American oil company Chevron nearly doubled profits from 2021 to 2022, posting record-breaking annual earnings of $35.5 billion, the company announced Friday. The company’s 2022 profit was roughly one-third greater than its previous record, set in 2011, and came off the back of high gas prices, The Wall Street Journal reported. The company reported an […]
‘Affront To Every American’: 25 States Sue Biden Department Of Labor Over Woke Investing Rules
Over two dozen states filed a lawsuit against the Department of Labor (DOL) Thursday, claiming its recent ruling on plan fiduciaries prioritizes woke Environmental, Social, and Governance (ESG) investing over protecting the retirement savings of millions of Americans. The lawsuit, co-led by Texas Attorney General Ken Paxton along with three energy companies, challenges a DOL […]
REPORT: Goldman Sachs Claims Four Cities Will Suffer 2008-Size Home Value Crash
The financial institution Goldman Sachs reportedly sent a note to clients in early January about four cities that it believes are likely to experience a 2008-size crash in the housing market. The note, obtained by the New York Post, reportedly states that Phoenix and San Diego, as well as Austin, Texas and San Jose, California, […]
FTX Owes Money To Big Tech Firms, Wall Street Titans
Bankrupt crypto exchange FTX reportedly listed large corporations in tech, finance and a range of other industries among its creditors in newly released bankruptcy documents. FTX owes money to Wall Street titans Goldman Sachs and J.P Morgan, and big tech giants including Netflix, Amazon, Apple and Meta, CNN reported. The New York Times and Wall […]
US GDP Ticks Up, But Recession Fears Remain
The U.S. economy grew modestly in the fourth quarter of 2022, despite signs of weak domestic demand, according to the Bureau of Economic Analysis (BEA) Thursday. In the fourth quarter, inflation-adjusted gross domestic product (GDP) grew by roughly 2.9%, down slightly from 3.2% in the third quarter, the BEA reported. Recession concerns among economists linger, […]
People Are Falling Behind On Their Car Payments At Levels Not Seen Since The Financial Crisis
The portion of Americans that are “severely delinquent” on their car loans in December hit the highest level since February 2009, according to analytics firm Cox Automotive. The rate of severe delinquency — typically defined as being delinquent on a loan by more than 90 days — increased to 1.84% in December, up from 1.74% […]
FBI Probes Snapchat Over Teen Fentanyl Deaths
The FBI is investigating Snapchat’s role in illegal fentanyl sales through its platform that have led to many teen deaths, Bloomberg reported Wednesday. The FBI and attorneys for the Department of Justice are looking into cases where fentanyl sales were arranged through the platform, according to Bloomberg, citing people familiar with the matter. The Bureau […]
Dem Lawmaker Boosted By SBF’s Deep Pockets Now Calls For Crypto Regs
Democratic Rep. Jesús “Chuy” Garcia of Illinois, who received more than $150,000 in direct and indirect support from disgraced former crypto CEO and Democratic donor Sam Bankman-Fried, called for more regulation of the crypto industry in an op-ed published Tuesday in The Hill. Garcia, who sits on the House Financial Services Committee — the House […]