Month: July 2022

CHARLESTON – Five major financial institutions are now ineligible for state banking contracts because of their environmental policies, and are on West Virginia’s first list of restricted financial institutions. West Virginia State Treasurer Riley Moore announced Thursday that BlackRock Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Wells Fargo & Co. they are involved in boycotts of fossil fuel companies, according to a new state law and are no longer eligible to enter into state banking contracts with their office. A sixth company, US Bancorp, was initially identified as potentially involved in boycotts of energy companies,…

Profit warnings from UK-listed companies are soaring as inflation and labor shortages take their toll. The number of profit warnings issued by UK-listed companies in the first six months of 2022 rose by 66% compared to the same period in 2021, with a record number of companies citing the increase in costs as the reason for its warning, according to EY-Parthenon. the latest profit notices report. The report reveals that 136 profit warnings were issued in the first half of 2022, compared to 82 in the first six months of 2021. The findings come as private equity firms continue to…

It’s been a big week for economic news, most of which has been bad news for Democrats’ prospects in the midterm elections. Over the past few days, we have learned that consumer confidence is near an all-time low and that the United States is now in a technical recession. In addition, the Federal Reserve raised interest rates significantly on Wednesday, indicating that inflation remains a persistent, not transitory, concern for the central bank. Despite Democrats’ best efforts to shift the national conversation away from inflation and toward issues like abortion rights, gun safety and climate change, these recent developments make…

Stocks end in green; The Federal Reserve may slow rate hikes Last updated 4:15 PM EST Stock indexes ended today’s trading session strongly in the green after the Federal Reserve raised interest rates by 75 basis points. Jerome Powell stated that rate hikes will likely slow, which means the Federal Reserve may not be as aggressive as most had believed. The Dow Jones Industrial Average, S&P 500 and Nasdaq 100 rose 1.37%, 2.61% and 4.26%, respectively. The public services sector (XLU) was the laggard of the session as it rose just 0.08%. Instead, the technology sector was the leader of…

July 30, 2022 Millions of Americans making less than $400,000 a year would see their taxes rise Washington, DC — The nonpartisan Joint Committee on Taxation (JCT) estimates that Democrats’ latest reckless tax and spending proposal will raise taxes on millions of Americans in all income brackets, with more than half of the tax increases on Americans doing less. over $400,000 a year. “While the Republicans’ pro-growth tax reform in 2017 lowered tax rates for all Americans in a way that increased the progressivity of the tax code and produced historic gains in jobs and wage growth , the Democrats’…