Winding down: US Fed chief says bank should cut asset purchases | Financial Market News

Federal Reserve Chairman Jerome Powell also added that the United States’ central bank was not yet ready to raise interest rates and would instead give the labor market ample time to recover and ease high inflation. Federal Reserve Chairman Jerome Powell said on Friday that the United States central bank should begin cutting its asset … Read more

US stocks dragged down on fear of rate hikes, technical problems | Financial Market News

Investors are increasingly concerned that the US Federal Reserve will raise interest rates sooner than they see it coming. Through Nathan Hager and Vildana HajricBloomberg Published on Oct 22, 2021 US stocks fell Friday after the Federal Reserve chairman expressed some concerns about inflation. The S&P 500 fell 0.1% and the Nasdaq 100 fell 0.8% … Read more

Supercharged: Tesla shares rise to record high | Technology News

Elon Musk’s electric vehicle company is one step closer to a $1 trillion market value. Shares of Tesla Inc. rose to an all-time high on Friday, bringing the electric vehicle maker another step closer to an elite group of companies with market valuations of at least $1 trillion. The stock rose a whopping 1.8%, reaching … Read more

Pain at the pump: Turks brace for double-digit gas as lira tanks | Oil and gas news

The lira fell 1.5 percent on Friday to a record low of 9.6625 per dollar. Through Ercan Ersoy and Taylan BilgicBloomberg Published on Oct 22, 2021 Rising energy prices and a collapse of the lira combine to create unexpected headaches for Turkish gas stations: how to get double-digit price quotes at the pump? The prospect … Read more

Trump-linked SPAC shoots up 1.225% | Financial Market News

Trump fans pumped Digital World Acquisition stock on Reddit and Stocktwits, halting volatility on Friday. Through Lynn Thomasson and Bailey LipschultzBloomberg Published on Oct 22, 2021 Former President Donald Trump’s media company is proving to be a hit with day traders. Shares of Digital World Acquisition Corp. have skyrocketed 1.225% since announcing the blank check … Read more

Trump’s new social media sponsor linked to China’s lifestyle venture | Donald Trump news

Former US President Donald Trump’s new social media company, Truth Social, is backed by a Florida-based capitalist with ties to an investment vehicle in China, according to Securities and Exchange Commission filings. Patrick Orlando, who heads the blank check company that publishes Trump’s Truth Social in US markets, is also the CEO of Yunhong International, … Read more

WeWork goes back to the stock exchange two years after its failed debut | Financial Market News

The workplace sharing company was once valued at $47 billion. But that was before investors started losing money, tired of the exorbitant spending and erratic behavior of WeWork founder Adam Neumann. WeWork goes public on Thursday after a spectacular collapse during its first attempt two years ago. WeWork has been dealing with a pandemic for … Read more

US equities soar to record high on solid corporate results | Financial Market News

With stocks soaring, traders are bracing for market swings in the face of mounting price pressures. Through Vildana Hajric and Nathan HagerBloomberg Published on 21 Oct 2021 US stocks rose to the first record ever since September 2, propelled by a wave of strong corporate earnings and positive news about the fight against the virus. … Read more

Low Earth orbit commercial real estate market warms | Space news

NASA got a third pitch, this one from Voyager Space Holdings Inc, to build a private station to replace an existing orbital lab. Through Justin BachmanBloomberg Published on 21 Oct 2021 The low-Earth orbit commercial real estate market is heating up as Voyager Space Holdings Inc’s Nanoracks. plans a new private space station to replace … Read more

US Fed Bans Officials From Buying Stocks After Ethics Scandal | Banks News

The scandal recently led to the departure of two regional presidents and reduced confidence in the US central bank. Through Scott LanmanBloomberg Published on 21 Oct 2021 The Federal Reserve will ban policymakers and other senior officials from buying individual stocks and bonds and will also curb active trading after an ethics scandal led to … Read more