Author: Anthony M. Orbison
Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldLeading central banks have warned that inflation is proving stickier than expected and that they will only cut borrowing costs gradually in 2025, in a shift that hit bond markets on both sides of the Atlantic.A day after Federal Reserve officials dialled back their rate-cutting expectations, the yield on US 10-year Treasuries, a bedrock of global finance, hit the highest since May at 4.59 per cent. The yield has jumped 0.2 percentage points in the past two days alone as…
The Federal Reserve cut interest rates by 0.25% again, bringing the federal funds rate range to between 4.25% and 4.5%. This is the third consecutive rate cut this year, but it may be the beginning of the end of rapid rate cuts.The Fed has signaled it will take a slower approach next year as Americans, markets and policymakers await the policies that will be implemented by the incoming Trump administration. How the inflation rate changes over the next few months will determine the Fed’s approach, but many are worried about what surging inflation would mean for the economy.🏦 🏡 Don’t…
According to Whale Alert, the average profit per BTC is at an all-time high of $67,088, at the time of writing. “The Potential Profit per Token graph shows the potential profit that holders could make per token if they sold at a specific time,” Whale Alert’s website explains. Whale Alert has further calculations on this metric that can be found here.To put this in perspective, this is more than the average American salary in 2024, which is $62,027. Imagine watching your savings grow and outperform your own yearly salary just for owning one bitcoin.Every day, you trade hours of your…
Federal Reserve Chair Jerome Powell surprised markets on Wednesday evening.Jacquelyn Martin/AP The Federal Reserve cut its benchmark interest rate Wednesday to between 4.25% and 4.5%. The central bank also projected two cuts next year instead of four, sending stocks tumbling. Many analysts see the reaction as overdone. The Federal Reserve cut its benchmark interest rate on Wednesday to a range of 4.25% to 4.5%, bringing its decline since mid-September to 100 basis points. Wall Street usually celebrates rate cuts as lowering borrowing costs drives spending, investing, and hiring. Reducing rates also signals inflation is under control and makes risk assets…
Investing.com– A Starbucks (NASDAQ:) workers union representing over 10,000 workers said it will go on strike in Los Angeles, Chicago and Seattle from Friday, with the strike set to last until at least Christmas. Workers United said walkouts will begin from Friday morning and “escalate each day through Christmas eve” in a social media post, citing demands over unfair labor practices. The union is seeking a foundational framework for better working conditions and pay. The move comes after Workers United members voted to authorize a strike earlier this week, amid little progress in negotiations with Starbucks management over worker demands. …
The man who falsely claimed to have created Bitcoin, Craig Wright, has officially received a one-year prison sentence. Indeed, he was sentenced in contempt of court after he filed a $1.2 trillion lawsuit against Twitter founder Jack Dorsey’s new company, Block.Wright rose to prominence when he proclaimed that he was the enigmatic and unknown Satoshi Nakamoto, the creator of Bitcoin. The Australian native claimed to have written the 2008 White Paper for which the cryptocurrency sector has been built.JUST IN: Judge sentences falsely-proclaimed Bitcoin creator Craig Wright to one year in prison.— Watcher.Guru (@WatcherGuru) December 19, 2024Also Read: Craig Wright…
Lord Peter Mandelson, former Labour cabinet minister and EU commissioner, is to become Britain’s next ambassador to Washington, with an immediate mission to avert a trade war with Donald Trump.Mandelson will take up the post next month, according to UK government officials, in the latest appointment by Prime Minister Sir Keir Starmer of a veteran heavy-hitter from the Tony Blair era. Starmer picked Mandelson to succeed Dame Karen Pierce, who has served in Washington since 2020 and is known as “the Trump whisperer” for her close contacts with the incoming US president and his team.Mandelson’s expertise in the field of…
These days, electronics companies dipping their toes into the realm of the automotive industry is not exactly a foreign concept.While U.S. establishment automakers like Ford (F) struggle to electrify their lineups, Chinese consumer electronics companies like Huawei and Xiaomi have been pumping out models that rival Tesla’s—and stealing away their buyers, too. 💰💸 Don’t miss the move: SIGN UP for TheStreet’s FREE Daily newsletter 💰💸In fact, one of those “swept away” buyers is none other than Ford CEO Jim Farley. He admitted on a podcast earlier this year that when Ford bought and brought Xiaomi’s bestselling SU7 electric sedan over to the…
Binance’s delisting of WRX reflects unresolved disputes and regulatory risks, causing a 56% price crash. Market metrics confirm WRX’s bearish trend, with oversold RSI and critical support nearing $0.0869. In a dramatic turn of events, Binance’s decision to delist WazirX [WRX], Kaon [AKRO], and Bluzelle [BLZ] has led to a sharp decline in their values, with WRX plunging 56% at press time to $0.1006. The fallout from this announcement extends beyond price action, shining a spotlight on the unresolved Binance-WazirX dispute and raising questions about regulatory risks tied to these tokens. What happened between Binance and WazirX? The Binance-WazirX relationship…
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