Taiwan is set to host more foreign delegations despite Chinese pressure
Taiwan will host a number of foreign lawmakers this week, defying China’s intensive attempts to dissuade third countries from engaging with Taipei. A bipartisan group of Japanese lawmakers led by Keiji Furuya of the ruling Liberal Democratic Party will visit Taipei on Monday and a US congressional delegation is due to arrive at the weekend, the third trip by US envoys in a matter of weeks. Beijing is stepping up its campaign of military threats and sanctions in response to US House Speaker Nancy Pelosi’s controversial trip this month to any high-level foreign visit to Taiwan, testing governments’ resolve to…
Read More »Dow loses more than 200 points in retreat in recent days as a busy week of gains begins
A rally in stocks on Wall Street lost steam on Monday, with the Dow Jones Industrial Average shedding more than 350 points from early in the session. The Dow Jones Industrial Average lost 215.65 points, or 0.69%, to 31,072.61, accelerating losses in late trading and erasing a 356-point jump earlier in the day. The S&P 500 fell 0.84% to 3,830.85. The Nasdaq Composite fell 0.81% to 11,360.05 The late day withdrawal follows a Bloomberg report that said Apple plans to slow hiring and growing spending next year to deal with a potential recession. Apple shares fell nearly 2.1%. “When Apple,…
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ESG investing brings political struggles to the investment world
Our society is not only divided along political lines: the media, culture and even coffee shops have been demarcated between red and blue. So it is perhaps inevitable that these fissures will reach the investment world. I’m talking about the growth of so-called ESG investing, which stands for Environmental, Social and Governance, and the growing backlash against this trend. Battle lines are forming in the hitherto apolitical world of money management. The roots of social investing go back decades, when activists called for pension funds to boycott investments in tobacco stocks and companies doing business in apartheid-era South Africa. ESG…
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Masters swings McConnell’s tune, says he expects GOP leader to offer financial support to Arizona
NEWYou can now listen to Fox News articles! Arizona Republican Senate candidate Blake Masters has changed his view on Senate Minority Leader Mitch McConnell, saying he now expects the Kentucky Republican to provide financial support for his campaign. Masters vowed to “find a way to work together” with McConnell to defeat Arizona Democratic Sen. Mark Kelly in November. In a recent interview with The Associated Press, Masters said he believes McConnell will “go in and spend” money in Arizona to support his bid for the race. “I think he’s going to come in and spend. Arizona is going to be…
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S&P 500 gains 3.1%, Dow adds more than 800 points
US stocks rose on Friday, with the S&P 500 snapping a three-week losing streak as investors digested the latest assertions by Federal Reserve officials that they remained committed to reducing inflation. The S&P 500 rose more than 3%, posting a straight day of gains and its first weekly advance since late May. The S&P 500’s weekly advance of more than 6% also marked the second-best 2022 so far. The Dow rose more than 800 points, or 2.7%, while the Nasdaq rose more than 3.3% as technology stocks rallied. The major averages held on to gains even after a closely observed…
Read More »Asian stocks rise ahead of US jobs data
BEIJING — Asian stocks rose on Friday ahead of an update on the health of the U.S. labor market, while the Federal Reserve weighed whether more rate hikes are needed to cool rising inflation. US futures and oil prices rose slightly. Investors awaited monthly US employment figures for signs of weakness that could prompt the Fed to decide it needs to unleash aggressive rate hikes to cool inflation. Other data suggests the economy is slowing, which should reduce pressure for prices to rise. “There is likely to be a particular focus on the resilience of job growth” following a surge…
Read More »FTX Grows Revenue 1000% During Crypto Craze – Financial Leaks
Sam Bankman-Fried, founder and CEO of FTX Cryptocurrency Derivatives Exchange, speaks during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, U.S., Wednesday, Aug. 17, 2022. Jeenah Moon | Bloomberg | Getty Images Last year, FTX rode the crypto craze to $1 billion in revenue as it expanded its global footprint through a series of acquisitions, according to internal documents seen by CNBC. Audited financials give a rare insight into private start-up finances. FTX was profitable, quickly expanded worldwide and saw explosive growth. Private crypto exchange revenue grew over 1,000% from $89 million to $1.02…
Read More »Shoppers spend more than $300 a month on impulse purchases, despite recession fears
Pandemic shopping changes fueled impulse purchases Without a doubt, the pandemic has changed the way we spend money. “Consumers abandoned entrenched shopping habits and kicked e-commerce into hyperdrive,” according to a McKinsey & Company analysis. Americans are spending more on clothing, travel and experiences, the report also says, and are now conditioned “to believe they can get what they want, when they want it.” But this also makes shoppers more susceptible to impulse buying. Another recent one report by online lender SoFi found that 56% of consumers said more than half of their online purchases are spontaneous, largely driven by…
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