US stocks rally as strong retail sales raise hopes of ‘soft landing’ – Financial Times
Positive US retail sales data and strong performance from Walmart lifted markets and boosted confidence that the US economy will avoid a recession and achieve a “soft landing”. The new optimism spurred a rally on Wall Street, with the S&P 500 closing up 1.6%, enough to erase the index’s entire August decline. The tech-heavy Nasdaq […]
Americans face another financial burden: Rising electricity costs
Seema Shah, chief global strategist at Principal Asset Management, analyzes the labor market and discusses the risks of a recession on “Making Money.” High inflation may finally be starting to subside, but rising electricity prices are Financial pressures It affects millions of households across the United States. The Labor Department said on Wednesday that electricity […]
DOJ asks court to toss Alex Murdaugh appeal on federal financial crimes
Federal prosecutors have asked the court to dismiss Alex Murdaugh’s appeal of federal financial crimes charges because he is seeking a reduced sentence after being convicted of murder and fraud, according to court documents. The defendants argued that as part of a plea agreement, they waived their right to appeal the sentence when they admitted […]
Pharmacies in England cutting services amid financial pressures, research finds | NHS
Research has revealed that pharmacies across England are failing to deliver vital NHS and public health services due to the overwhelming financial and operational pressures they face. In a poll of pharmacy managers representing more than 2,100 pharmacies, more than 96% of respondents said they had stopped providing local referral services in the past 12 […]
Intel Announces Dismal Financial Results, Will Lay Off 15,000 Workers
Intel, the world’s largest chipmaker, has announced a massive $10 billion cost-cutting plan that includes cutting more than 15,000 jobs, or about 15% of its global workforce, while the administration plans to spend $8.5 billion as part of the CHIPS Act, which aims to create high-tech jobs. The Verge Reports Intel CEO Pat Gelsinger announced […]
Morgan Stanley tells financial advisers they can pitch Bitcoin ETFs as crypto bets big on Trump presidency: report
Morgan Stanley is reportedly getting involved in a Bitcoin ETF. Morgan Stanley’s roughly 15,000 advisors can reportedly guide clients in buying shares in BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund. CNBC reported the story based on anonymous sources.. Reports of a policy shift by Morgan Stanley, the sixth-largest U.S. bank, come as […]
Wayfair CEO says demand for home goods are at ‘great financial crisis’ levels
Wayfair shares are plummeting after its CEO said on an earnings conference call that demand for home goods is at “financial crisis” levels. The struggling online furniture giant reported second-quarter profits on Thursday that missed Wall Street expectations on both the top and bottom lines, sending its shares down more than 11%. Furniture giant Wayfair […]
Rudy Giuliani agrees to deal to end his bankruptcy case, pay creditors’ financial adviser $400k
Rudy Giuliani has reached a last-minute agreement to exit personal bankruptcy proceedings and pay about $400,000 to financial advisers hired by creditors, avoiding a sweeping investigation into the former New York mayor’s finances that a federal judge had threatened. The agreement was filed Wednesday in federal court in White Plains, New York. This came nearly […]
Slain Hamas Chief Called to ‘Build Upon’ Oct. 7 ‘Victory,’ Praised Gaza Donations as ‘Financial Jihad’
Ismail Haniyeh, the political leader of the Hamas terrorist organisation who was reported killed early on Wednesday, had called on Muslim leaders around the world to “preserve” the October 7 “victory” and “build on it”. He also appealed for financial support for Gaza, calling it “financial jihad” and declaring that “the time for jihad of […]
How to pick the best financial adviser for your needs | Financial advisers
You don’t need to be rich A common misconception about financial advice is that it’s only for the wealthy, say many in the industry. April Leeson, advisor at independent financial advisor (IFA) firm The Private Office, says: “Typically, people who come to us for help are at a crossroads in their life, having experienced a […]