Tag Archives: Finance

Bloomberg Greensill Says He Warned Credit Suisse Weeks Before Collapse (Bloomberg) — Lex Greensill said he told top Credit Suisse Group AG officials of his difficulties in securing fresh insurance to cover corporate loans underpinning his business for weeks before his supply-chain finance empire’s abrupt collapse.The ex-billionaire “regularly updated” executives including Chief Risk Officer Lara Warner on his problems in finding new cover after Australian insurer Bond and Credit Company… Source link

Bloomberg Trader Arrested as WallStreetBets Phenomenon Finds Echo in Japan (Bloomberg) — A retail investor buys shares in a small company, touts his position on social media and inspires a horde of followers to do the same. The stock price goes to the moon — before crashing back to earth.It’s an all-too-familiar tale to anyone watching the market in 2021, but this wasn’t GameStop Corp. It wasn’t even in America. And it happened in 2018.It was in the Japanese city of Osaka, where a day… Source link

Bloomberg Trader Arrested as WallStreetBets Phenomenon Finds Echo in Japan (Bloomberg) — A retail investor buys shares in a small company, touts his position on social media and inspires a horde of followers to do the same. The stock price goes to the moon — before crashing back to earth.It’s an all-too-familiar tale to anyone watching the market in 2021, but this wasn’t GameStop Corp. It wasn’t even in America. And it happened in 2018.It was in the Japanese city of Osaka, where a day… Source link

The Daily Beast Biden’s End to ‘Remain in Mexico’ Was Too Late for 41,247 Migrants Paul Ratje/GettyThe last residents of Mexico’s Matamoros refugee camp crossed the border into the United States on March 5 to request asylum.The migrants—many of them Central Americans fleeing endemic violence, poverty and corruption—will be allowed to stay in the U.S. as their cases move through the immigration court system.The exodus from the Matamoros camp, which once sheltered more than 2,500… Source link

Joe Biden didn’t campaign for president as a tax-cutter, but his first big legislative package is turning into a bigger tax cut than the landmark tax bill President Trump signed with great fanfare at the end of 2017. The $1.9 trillion American Rescue Plan includes at least four provisions that will lower Americans’ 2021 tax bills by an average of $3,360, according to the Tax Policy Center. The 2017 Trump tax cuts only cut the average household’s tax bill by $1,600 per year. There’s… Source link

Bloomberg Just How Big and Important Is Sanjeev Gupta’s Metals Empire? (Bloomberg) — Sanjeev Gupta is fighting to save his sprawling empire after Greensill Capital, its biggest lender, collapsed into administration.While the markets for GFG Alliance’s steel mills and aluminum smelters are buoyant, a court filing revealed on Monday that Gupta’s group had told Greensill in February that it would be insolvent without its funding.That casts a shadow over operations that employ about 35,000… Source link

The Fiscal Times The Tax Hikes Tucked Into Biden’s Covid Relief Plan Democrats inserted three tax hikes on the wealthy and large corporations into their $1.9 trillion Covid rescue plan. Together, the three increases are projected to raise $60 billion, Politico’s Brian Faler writes: “One takes away deductions for publicly traded companies that pay top employees more than $1 million. Another provision cracks down on how multinational corporations do their taxes. A third targets how owners… Source link

Bloomberg China Producer Prices Jump, Adding to Global Inflation Risks (Bloomberg) — China’s producer prices rose at the fastest pace in more than two years in February, joining more expensive oil, computer chip shortages and soaring shipping costs as tailwinds for global inflation pressures.The Chinese producer price index rose 1.7% from a year earlier, official data showed Wednesday, stronger than economists’ forecasts for a 1.5% increase and up from 0.3% in January. Consumer prices… Source link

The Daily Beast Republican Retirements Are the Price Mitch McConnell Is Paying for Selling Out His Party to Donald Trump Drew Angerer/GettyIt was already a hard year for Mitch McConnell, having a public late-life crisis after being returned to minority status, and seeing his wife, the former transportation secretary, scrutinized for using their official positions to help a shipping company her family owns. Then Roy Blunt went and became the fifth GOP senator to retire.Blunt cited his 23 years… Source link

Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, March 11, 2021 Inflation might be coming. The data says: not yet. In financial markets there are few things you can count on. But one thing we know will surely come up sooner rather than later are widespread concerns about inflation. The commodities cycle, the Treasury yield curve, growth forecasts, and easy comps all suggest that higher consumer prices are coming down the pike this year…. Source link