All posts in Stock Market Updates

LONDON — European markets closed higher on Monday as investors continued to monitor business earnings and key economic data points, assessing the risk of recession. “Just as Erwin Schrödinger’s cat was alive and dead at the same time, the global economy may be in recession and not, at least not yet.” James Pomeroy Global Economist, HSBC Turning to data in Europe, August’s Sentix economic sentiment index for the eurozone edged up a fraction from the previous month, but still pointed to a high likelihood of a recession in the common currency bloc of 19 members. “Just as Erwin Schrödinger’s cat…

SENECA, SC–(BUSINESS THREAD)–Oconee Federal Financial Corp. (Nasdaq: OFED) (the “Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), today announced net income of $4.1 million, or $0.72 per diluted share. , for the year ended June 30, 2022, which was the same as net income of $4.1 million, or $0.72 per diluted share, for the year ended June 30, 2021 June 30, 2022 Year-end summary: Forty-three consecutive quarterly dividends of $0.10 per share since the quarter ended December 2011. Total assets were $544.8 million, up 0.2% from $543.7 million of dollars as of June 30, 2021….

OLDWICK, NJ–(BUSINESS THREAD)–AM Best has assigned a long-term issuance credit rating (IR long-term) of “bbb” (Good) to the recently announced $750 million, 5.625% senior unsecured notes, due on August 16, 2032, from Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada). The outlook assigned to the credit rating is positive. Fairfax intends to use substantially all of the net proceeds from this offering to purchase a portion of the non-controlling interest in Allied World Assurance Company Holdings, Ltd, and to use the remainder for general corporate purposes. Following the completion of the transaction discussed above, Fairfax’s financial leverage measures are expected to…

The extension of a sales tax that has been credited with keeping Westminster financially afloat moved forward after residents berated city officials for years of indecision. On Friday, four of five City Council members agreed to put a measure on the November ballot asking voters to renew the 1 percent sales tax for the next 20 years. The sales tax, called Measure SS, has brought in $81.5 million since it was first passed in 2016. Money from the tax makes up about a quarter of the city’s operating budget, funding of the city’s staff and services. If voters do not…

Author Michael Lewis is coy about his next project. But, she says during a video call from her home in Berkeley, Calif., “I’ll lift my skirt a little bit, but not much here.” Then he gets more animated: “I don’t really want to reveal exactly what I’m writing,” he tells Financial News. “But I found a character that I can write through: it weirdly links Flash Boys, The Big Short and Liar’s Poker. “I guess it might be framed as a crypto book, but it’s not going to be a crypto book. It’s going to be about this really unusual…

WASHINGTON – Lawmakers are pressing the Federal Reserve to move quickly toward issuing a digital dollar, to counter moves by China and others that they say could one day threaten the U.S.’s status as a global reserve currency . The bipartisan group of lawmakers, including Reps. Maxine Waters and French Hill, has sought for the United States to counter global competitors launching digital versions of their currencies. The House Financial Services Committee, which they sit on, could vote on related legislation as early as next month. Waters has framed the competition over new forms of central bank money as “a…

6:29 AM ET Sam Marsden Moises Llorens Barcelona have sold a further 24.5% of Barca Studios to Orpheus Media for €100m in a bid to book all their new signings for Saturday’s LaLiga game against Rayo Vallecano. Barca have seven players not registered for the first game of the season, but sources say they hope the situation can be resolved now. LaLiga will review the documents to see if everyone, including €45m signing Robert Lewandowski, can now be registered. – Stream all LaLiga matches on ESPN+ (US only)– LaLiga team-by-team preview: Can Barça go back to the top?– Notebook: Barça…

Every weekday, the CNBC Investing Club with Jim Cramer does a live “morning session” at 10:20am ET. Here’s a recap of Friday’s highlights. Market action this week reaffirmed oil as a hedge Quick mentions: AAPL, QCOM, JNJ, DHR We want an update on Cisco’s supply chain woes 1. Market action this week has steadied oil as U.S.-hedge West Texas Intermediate crude futures fell on Friday after settling higher on Thursday. We believe Thursday’s gain may have been one of the reasons for Thursday’s intraday market reversal, which started strongly after a positive inflation report but then gave up its gains….