The weakening of most Asian currencies on Thursday was largely attributed to the rise of the dollar from its seven-month lows. This surge in the dollar was primarily driven by some bargain buying, which led to a temporary setback for Asian currencies. Traders, however, remained skeptical about the greenback due to the looming expectations of
Paramount Global’s future is currently hanging in the balance as a competing offer from Edgar Bronfman Jr. has thrown a wrench into its merger agreement with Skydance. Initially offering $4.3 billion for Shari Redstone’s National Amusements, Bronfman has since upped his bid to a staggering $6 billion. The special committee overseeing the merger is now
The recent release of employment data showing that employers added 818,000 fewer jobs in the year to March 2024 than previously thought has had a mixed impact on the dollar. Despite the unexpected numbers, the Federal Reserve’s decision on larger rate cuts in September remains relatively unchanged. The delayed release of the data led to
Ford Motor recently announced a shift in its production plans, delaying the production of a next-generation all-electric pickup truck at a new plant in Tennessee and canceling plans for a three-row electric SUV. Instead, Ford will focus on developing hybrid models and electric commercial vehicles, such as a new electric commercial van in 2026, followed
As the market continues to shift, dividends are poised to make a comeback. According to Bank of America, the contribution of dividends to total market returns is expected to increase significantly in the coming years. This shift comes as the Federal Reserve begins to decrease rates and bond yields begin to decline. However, investors should
Bitcoin saw a 2.8% decrease in price, dropping to $59,397.1 amidst concerns that Mt Gox may be preparing to distribute about $2 billion worth of tokens. This news has raised worries among traders over the potential impact of increased supply and a possible mass sell-off event in the cryptocurrency market. It remains unclear how much
Recent data shows that major high street lenders in the UK are cutting their borrowing costs following the Bank of England’s first interest rate cut in four years. This has led to a significant decrease in five-year fixed rate mortgages, with rates now dropping below the BOE’s key rate of 5%. For instance, buyers with
Denver voters are facing a critical decision on the Nov. 5 ballot to consider a sales tax hike for the purpose of raising approximately $100 million annually to support affordable housing initiatives. The proposed 0.5% tax increase, put forth by Mayor Mike Johnston, aims to tackle the shortage of affordable homes in the city. This
The affordable housing crisis in the United States has been a longstanding issue that has affected millions of individuals and families across the nation. Vice President Kamala Harris recently unveiled a comprehensive economic policy that focuses on tackling this crisis by making it more affordable for Americans to own and rent homes. Harris emphasized the
In the rapid-fire analysis by Jim Cramer, he highlighted Lowe’s beating on earnings but missing on revenues. The company also cut its full-year outlook, causing shares to turn negative. Cramer attributed the stock’s performance to concerns related to the Federal Reserve and the Jackson Hole meeting. Lowe’s expressed a need for improved housing conditions and