Oversight Republicans after Hunter Biden ‘money trail’ demand answers from financial adviser
NEWYou can now listen to Fox News articles! House Republicans are demanding answers from President Biden’s son Hunter’s financial adviser, Edward Prewitt, about his dealings, which banks have flagged as suspicious. Biden has been under federal investigation for his tax affairs based on suspicious foreign transactions since 2018, and President Joe Biden has repeatedly denied discussing Hunter’s business dealings with him. The president’s son’s questionable business dealings, conducted by himself, his associates and other members of the Biden family, have been flagged and reported by US banks. Rep. James Comer, R-Ky., the ranking member of the House Oversight Committee, sent…
Read More »it’s not pretty, but a lot of bad news already has a price
Well, that pretty much covers… everything. Microsoft’s earnings release cited a litany of issues: unfavorable turnover, extended production shutdowns in China, a deteriorating PC market in June, reductions in advertising spending and shrinking Russian operations. He left out frogs, boils, locusts, lice, and hail, so the press release doesn’t quite rise to the level of biblical disasters, but you get the idea. It was quite a long list considering the EPS and lost revenue. Cloud growth slowed and video game sales were also weaker. And the stock still went up. Wedbush analyst Dan Ives says: “Ultimately, when the onion was…
Read More »Schroders suffers in ‘difficult’ environment as investors flee mutual funds
Tough market conditions continue to hurt major asset managers, with Schroders becoming the latest major fund house to report reduced assets. The manager’s UK-listed mutual funds saw £2.9bn in net outflows in the first six months of 2022, reversing net inflows of £6.4bn from the same period last year, according to the company’s half-yearly report, published on July 28. The firm’s global mutual fund assets closed the period at £102.6bn, down from £116bn, as fixed income products took a particular hit, and the “falling fortunes” of equity markets caused a 2 basis point drop in income margins. “The first half…
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UAE Central Bank imposes financial sanctions on 6 banks – News
Institutions sanctioned for not reaching appropriate levels of compliance Published: Thursday, July 28, 2022, 10:04 am Last update: Thursday, July 28, 2022, 10:19 am The Central Bank of the United Arab Emirates (CBUAE) said on Thursday it imposed financial penalties on six banks operating in the UAE for failing to achieve adequate levels of compliance with required due diligence and reporting procedures and standards. The banks have been penalized in accordance with the implementation of certain provisions of the Multilateral Administrative Agreement for the Automatic Exchange of Information and the Common Information Standard (CRS) of the Organization for Cooperation and…
Read More »Carmila: Half-Year Financial Report 2022 available
BOULOGNE-BILLANCOURT, France–(BUSINESS THREAD)–Regulatory news: Carmila (Paris:CARM) has made available to the public and submitted to the French Financial Markets Authority (Autorité des Marchés Financiers) its 2022 half-yearly financial report. It can be consulted on Carmila’s website www.carmila.comin the Finances section. INVESTORS’ AGENDA October 20, 2022 (after market close): Third quarter 2022 financial information ABOUT CARMILA As the third listed owner of commercial properties in continental Europe, Carmila was founded by Carrefour and large institutional investors with the aim of transforming and enhancing the value of shopping centers adjacent to Carrefour hypermarkets in France, Spain and Italy. As of June 30,…
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GO in the Know: Our 2022 small business spotlight and top financial news for July 27
seb_ra / iStock.com For the second year in a row, GOBankingRates is celebrating the small businesses that make our communities great through our 2022 Small Business Benchmark. Check it out, along with other top financial news of the day. The big plus: GOBankingRates celebrates America’s small businesses We asked our readers to nominate their favorite restaurants, coffee shops, gyms, salons, shops and more, and now, we’re shining a light on the deserving businesses and the people behind them. Check out some of our winners. Bonus offer: Open a new Citi Priority account by 9/1/23 and earn up to $2,000 in…
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According to experts, the Fed’s rate hikes provide these financial benefits
The Federal Reserve raised its benchmark interest rate significantly on Wednesday, the latest in a series of hikes aimed at tackling sky-high price increases last seen more than four decades ago. But rate hikes at the Fed risk widespread financial pain. A rise in the benchmark interest rate raises borrowing costs for consumers and businesses, which should in theory reduce inflation by slowing the economy and sapping demand. That means borrowers will face higher costs for everything from car loans to credit card and mortgage debt. More alarmingly, the approach risks tipping the economy into recession. These significant risks, however,…
Read More »Ford F 2Q 2022 earnings
Ford CEO Jim Farley at the company’s plant in Dearborn, Michigan, where it is building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland Ford Motor Company said its adjusted operating income more than tripled from a year ago to $3.7 billion as it was able to offer customers more of its hottest new products. Ford also reiterated its previous full-year guidance and said it will raise its quarterly dividend to 15 cents a share, the amount it paid before the Covid-19 pandemic. Shares rose more than 6% in extended trading after the news was released. Here…
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