Leading Dem Senate candidates react to economic contraction, stop short of calling it recession
NEWYou can now listen to Fox News articles! FIRST ON FOX: Several top Democrats in competitive Senate races say more needs to be done to get the economy back on track, but declined to say whether the economy was in recession, despite the latest GDP figure showing the economy contracted by second consecutive quarter. The comments were provided exclusively to Fox News Digital on Thursday and followed an announcement by the Commerce Department that gross domestic product (GDP), the broadest measure of goods and services produced throughout the economy, decreased by 0.9% annualized in the three-month period from April to…
Read More »West Haven Could Lose Grants, Credit Rating Amid Financial Scandal | news
The financial scandal that has engulfed West Haven over the past year has cost the city access to state grant funding and now threatens the township’s ability to borrow money for future capital projects. West Haven, a coastal city of about 55,000, had hoped earlier this year to receive state aid for a local flood and stormwater project that would have been financed through the State Bond Commission. But before that proposal could be considered, Gov. Ned Lamont’s administration informed West Haven’s legislative delegation that it was reluctant to commit money to the city in the wake of an ongoing…
Read More »Newmark Group, Inc. presents the financial results for the second quarter of 2022
Conference call to discuss scheduled results 10:00 am ET Today NEW YORK, July 29, 2022 /PRNewswire/ — Newmark Group, Inc . (Nasdaq: NMRK) (“Newmark” or “the Company”), a leading full-service commercial real estate company, today reported its financial results for the quarter ended. June 30, 2022. A complete and full-text financial results press release, including information about today’s financial results conference call and Newmark’s dividend declaration, can be accessed via the “About” or “Media” tabs at https://nmrk.com. It is also available directly from any of the following web pages: (PDF version of the full press release, PDF of a quarterly…
Read More »Stocks rally for second day as investors look past recession worries, Dow jumps more than 300 points
US stocks rallied for a second day in a row on Thursday, even after the latest GDP showed a straight contraction, as investors bet the economic downturn would soon prompt the Federal Reserve to end its aggressive hiking campaign . The Dow Jones Industrial Average rose 332.04 points, or 1%, to 32,529.63. Added blue-chip index more than 400 points in the previous session. The S&P 500 rose 1.2% to 4,072.43, and the Nasdaq Composite rose nearly 1.1% to 12,162.59. All the major averages are poised for a winning week, as well as their best month of 2022. After a brief…
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Inside the Kuwait Investment Authority: “There is chaos now”
For decades, the Kuwait Investment Authority kept a low profile as it earned a reputation as one of the most powerful and respected sovereign wealth funds in the oil-rich Gulf. But last week, the KIA abruptly fired Saleh al-Ateeqi, the head of its London investment arm, the Kuwait Investment Office, thrusting the secretive fund into the spotlight. Founded in 1953, the KIA is one of the most influential institutions in the Gulf state and the guardian of Kuwait’s wealth for the post-oil future. With assets estimated at $700 billion or more, less than half of which are managed outside London,…
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Asian shares fall amid US recession and fears of a Chinese crackdown
Shares in Asia were lower on Friday as fears of a US recession gathered pace, with Hong Kong the hardest hit, dragged down by tech shares falling to record their biggest monthly drop in a year. But some traders see the slowdown in the US economy as lengthening the odds of more severe central bank tightening and there was some bargain buying, particularly in some of the region’s emerging markets. Japan’s Nikkei reversed course to close slightly lower as concerns about corporate earnings grew after Toyota supplier Denso cut its outlook, while a firmer yen also weighed on exporters ….
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Fairfax Financial announces net loss for the second quarter of 2022
Fairfax Financial Holdings has announced a net loss of $881.4 million in the second quarter of 2022 after net earnings of $1,201.4 million in the same period a year earlier. Meanwhile, the company reports 27.5% and 40.5% year-over-year increases between Q2 2021 and Q2 2022 in gross written premiums for Odyssey Group and Brit, its main civil liability insurers/specialty. Prem Watsa, chairman and CEO of Fairfax Financial Holdings, said in a statement that the company had continued its excellent underwriting performance in the second quarter of 2022 with a consolidated combined ratio of 94.1%, with all our top insurance companies…
Read More »CB Financial Services: Second Quarter Results Summary
CARMICHAELS, Pa. (AP) _ CB Financial Services Inc. (CBFV) reported net income of $118,000 in its second quarter on Thursday. The Carmichaels, Pennsylvania-based bank said it had earnings of 2 cents a share. Earnings, adjusted for non-recurring costs, came in at 5 cents per share. The Pennsylvania-based Community Bank holding company posted revenue of $13.1 million during the period. Its net interest expense income was $12.3 million, beating Street forecasts. Shares of CB Financial Services are down 2.5% year-to-date. In the final minutes of trading on Thursday, the stock hit $23.48, up about 2% over the past 12 months. _____…
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