Veteran financial advisory professional Jill Jaworski will take the helm of Chicago finances as chief financial officer and Cook County budget director Annette Guzman will become city budget director in Mayor-elect Brandon Johnson’s administration. Johnson made the announcements Thursday, four days before he is sworn into office, along with appointments for several other top roles
An often overlooked aspect of the cryptocurrency market’s reputation for volatility is the effect sudden market changes can have on the mental health of traders and investors. Addiction to day trading, or pathological trading, is already well-known among stocks and commodities traders and has been extensively documented by medical professionals. There are even rehab programs
The Bank of England has raised interest rates by a quarter of a percentage point to 4.5 per cent, as it warned it would not hit its inflation target until 2025. A seven to two majority on the central bank’s Monetary Policy Committee said the rise was needed to bring inflation back under control as
A major sticking point in the Puerto Rico Electric Power Authority bankruptcy is the discrepancy over the size of bondholders’ claim, with the Oversight Board and bond parties $6.5 billion apart. The board, in a filing Tuesday, placed the value at 24% of principal and pre-petition interest due at time of the bankruptcy petition in
Municipals were largely unchanged as the market digested another larger primary slate while U.S. Treasuries rallied after the release of economic data showed inflation has eased. Equities ended mixed. The Dormitory Authority of the State of New York priced and repriced its $1 billion-plus school revenue bond deal for institutions with yields falling on the
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Userba011d64_201 | Istock | Getty Images Wall Street has eagerly rallied around companies making notable strides in artificial intelligence. However, several investors warn that the increasingly widespread deployment of AI has opened a “Pandora’s box” of environmental, social and corporate governance, or ESG, concerns. Generative AI models — ChatGPT being the most prominent example —
In today’s The Market Report episode, analyst and writer Marcel Pechman discusses why crypto prices are going down after Bitcoin (BTC) failed to break above $29,000, plus whether or not Jerome Powell is lying about keeping interest rates above 5%, and lastly, what Warren Buffett meant by the “incredible period” coming to an end. The
A shopper in Greenville, New York, on April 30, 2023. Robert Nickelsberg | Getty Images News | Getty Images Inflation in April notched its lowest reading in two years, as price pressures for consumers continue to moderate from multi-decade highs and costs for household staples appear to be in retreat. The consumer price index, a
Apple’s first physical retail store is located in the populous city of Mumbai. Punit Paranjpe | Afp | Getty Images Dimensional’s Matrix Book is an annual review of global returns that highlight the power of compound investing. It’s a fascinating document: you can look up the compounded growth rate of the S&P 500 for every year
Bitcoin was hovering close to a key price floor near $27,300 on Wednesday, as markets anticipated the upcoming U.S. inflation report. Consumer prices for last month are expected to remain at 5%, which could be seen as justifying the Federal Reserve’s decision to hike rates last week. Ethereum remained above $1,800. Bitcoin Bitcoin (BTC) continued
A display for a realtor with Coldwell Banker Dynasty TC, left, is displayed as she speaks with a potential homebuyer during an open house in Arcadia, California. Jonathan Alcorn | Bloomberg | Getty Images Mortgage rates fell slightly last week after the chairman of the Federal Reserve suggested a potential end to a historic string
Binance, the world’s largest cryptocurrency exchange, has said a crackdown on crypto has made it “very difficult” to do business in the US, adding it now hopes to be regulated in the UK. The firm’s chief strategy officer Patrick Hillmann said at the FT’s crypto and digital assets summit that the US “has been very
The Airbnb logo is seen on a little mini pyramid under the glass Pyramid of the Louvre museum in Paris, France, March 12, 2019. Charles Platiau | Reuters Check out the companies making headlines after the bell: Airbnb — Airbnb shares plunged nearly 11% despite a beat on the top and bottom lines. The company
New Jersey Department of Transportation will spend $4.5 billion on capital improvements in the new fiscal year. Officials released the department’s fiscal ’24 capital financing plan on Tuesday. It leans on a mix of state and federal funding to bankroll repairs and upgrades to transportation networks across New Jersey. “This capital program reflects the need
Several members of Congress introduced a bill to permanently raise the rum cover rate supporting some U.S. Virgin Islands and Puerto Rico bonds. The rum cover, a tax on rum sold in the 50 states, provides a revenue stream supporting USVI matching fund bonds and Puerto Rico Infrastructure Finance Authority rum bonds. The rate had
Today we’re going to talk about the main problem when it comes to buying single call options, why I think it’s a bad idea and why most people end up losing a lot of money with single call options. I’ll also share with you some insights and things you need to be aware of when
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Where would you hide $3.4 billion worth of Bitcoin? For James Zhong, the ideal spot was to store it on a computer — with its circuitry exposed — placed in a used Cheetos popcorn tin hidden in a bathroom closet under a pile of blankets. Zhong, now 32, was sentenced to a year in federal
The recent surge in Bitcoin (BTC) transaction fees has lit a fire under one of the largest crypto exchanges to upgrade to the Bitcoin Lightning Network. Following a second halt in withdrawals, Binance announced it would work on “enabling BTC Lightning Network withdrawals, which will help in such situations.” To prevent a similar recurrence in