Amid the chaos surrounding concerns about debt payments by China’s property developer Evergrande Group, it’s good to be the chairman. Although Evergrande Group’s 80% stock decline so far this year has made a dent in its billionaire founder and chairman’s fortune, Hui Ka Yan will remain extraordinarily wealthy even if the company collapses under the
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Jenna Fountain carries a bucket down Regency Drive to try to recover items from their flooded home in Port Arthur, Texas, September 1, 2017. Emily Kask | AFP | Getty Images Record-setting rain, floods and wildfires are examples of the rising risks to the U.S. housing market from climate change. Mortgage lenders and investors are
You will need to move fast on a market correction because I have no doubt that the dip will be bought quickly
The Securities and Exchange Commission on Thursday charged a firm and its two principals with violating numerous duties under Municipal Securities Rulemaking Board Rule G-42, which lays out the core responsibilities of municipal advisors. The actions–which are the first enforcement cases the SEC has brought under the 2016 rule–were brought in the U.S. District Court
The decentralized exchange (dex) platform Orca has announced the platform has raised $18 million in a Series A financing round with Polychain, Placeholder, and Three Arrows co-leading the funding. The dex platform is a Solana-based project that aims to be the “go-to swap” platform for Solana. Solana’s Orca Gets an $18 Million Capital Raise On
Municipals sat tight again Wednesday as broader markets digested the Federal Open Market Committee leaving interest rates unchanged and noting the tapering process may begin sooner. The news was largely expected and U.S. Treasuries ended the day a touch firmer while equities made up for lost ground though pared back earlier gains. “The biggest news
Deepening worries over Evergrande have ignited selling in a $428bn corner of the Asian debt market, underscoring how the crisis at the Chinese property developer is spreading to other assets as traders and investors brace for a crucial payment deadline on Thursday. Yields on US dollar-denominated bonds issued by riskier Asian borrowers have soared to
Admittedly, the last few days have not been not the most pleasant time for crypto traders as the price of Bitcoin (BTC) price fell short of breaking the $50,000 threshold, then slid to the low-$40,000 range and pulled the majority of altcoins down with it. Despite this sharp downturn, a handful of tokens seemed to
Federal Reserve Chairman Jerome Powell on Wednesday said the central bank’s current trading rules are insufficient and promised that it would “make changes” after filings showed that officials traded stocks and bonds that could be influenced by its policy actions. Specifically, Powell said that Fed officials should as a general rule be barred from owning
In this article FB SPGS DIS SOFI People wait in line for t-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO earlier in the day on July 29, 2021 in New York City. Spencer Platt | Getty Images News | Getty Images Check
Mega-mansion developer Mohamed Hadid has reduced the price for a property overlooking Beverly Hills to $50 million, down 50% from the original asking price of $100 million. Called Olive Hills, the undeveloped land near Franklin Canyon in Los Angeles surfaced for sale in July, roughly six months after a series of events led the entities
Even though the Federal Reserve didn’t raise its benchmark rate Wednesday, your borrowing costs may still start to head higher. Rising prices brought on by the economic recovery are paving the way for the central bank to unwind last year’s bond buying. While the central bank said that interest rates will stay near zero for now,
Retail investors are betting on these ETFs.
While Puerto Rico Gov. Pedro Pierluisi signed into law minimum wage increases for the island, they will not address long-term economic growth issues, economists said. Pierluisi on Tuesday signed the law, which will raise the minimum to $8.50 per hour on Jan. 1 from $7.25 per hour. The wage will increase to $9.50 per hour
S&P Global Ratings has singled out states’ underfunding of retiree medical benefits as a key credit risk for states. States continued to sharply underfund their OPEB plans and unfunded liabilities ticked upward in fiscal 2020, S&P analysts reported in their annual survey published Monday. During the economic expansion preceding the pandemic, few states pursued and
Chinese markets fell on their first day of trading this week after a public holiday as concerns built in global markets over a possible default by property developer Evergrande on an international bond repayment. But the losses were not as heavy as feared after the real estate company, which has total liabilities of more than
Bloomberg Intelligence Commodity Strategist Mike McGlone believes it is only a matter of time before the U.S. Securities and Exchange Commission (SEC) approves the country’s first Bitcoin exchange-traded fund (ETF). In an interview with Stansberry Investor host Daniela Cambone on Sept. 21, McGlone asserted that Canada is extending a competitive lead over the United States
Charlie Javice, Founder/CEO of Frank, which is a college financial aid start-up. Source: JP Morgan JPMorgan Chase has acquired college planning platform Frank to deepen relationships with students and their parents, CNBC has learned exclusively. Frank is an online portal with tools that help students apply for and negotiate financial aid, enroll in online courses
In this article H ADBE SFIX FDX People walk around the International Hotel Grand Hyatt during the outbreak of the COVID-19 pandemic on May 21, 2020 in New York City. VIEW press | Corbis News | Getty Images Check out the companies making headlines after the bell Tuesday: FedEx – Shares of the shipping company
Ether (ETH) price fell below the $3,000 support on Sept. 20 as global markets entered a risk-aversion mode. The Invesco China Technology ETF (CQQQ) closed down 4.2%, while the SPDR S&P Metals and Mining ETF (XME) lost 3.8%. Some analysts pointed to the potential ripple effects of the default of Evergrande, a major Chinese real