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Economy

“Farmers Set to Abandon US Wheat Crops at Highest Rate Since 1917.”

” America’s wheat fields have become so plagued by drought that farmers are now poised to abandon crops at the highest rate in more than a century. Producers are expected to harvest about 67% of their planted acres, the US Department… Continue Reading…

Business

“Chipotle, Papa John’s link ESG goals to bonus compensation, and pay practice is moving below the C-suite level”

“…Nearly half of the Russell 1000 (43%) discloses that it uses ESG-related key performance indicators in executive compensation metrics, according to data from Just Capital, a nonprofit that measures corporate stakeholder performance. That percentage of Russell 1000 companies linking ESG… Continue Reading…

Economy, Personal Finance

“Americans are keeping their cars longer amid sky-high prices, rising interest rates”

“…The average age of a light-duty vehicle on U.S. roads rose by more than three months — the highest year-over-year increase since the Great Recession in 2008-2009 — to 12.5 years as of Jan. 1, according to a new report… Continue Reading…

Banking, Stocks

“PacWest stock plunges 23% after losing 9.5% of deposits last week”

“Regional bank stocks fell again Thursday after troubled California lender PacWest (PACW) disclosed it lost 9.5% of deposits last week on a wave of new pessimism surrounding the industry. The Beverly Hills, Calif.-based institution first came under investor scrutiny following… Continue Reading…

Banking, Economy

“Big US banks to pay billions to replenish failure fund”

“Large U.S. lenders will bear most of the cost of replenishing a deposit insurance fund that was drained of $16 billion by the collapse of Silicon Valley Bank and two other lenders, although mid-sized banks will also be on the… Continue Reading…

Banking

“Bank of America to Lead $500 Million Debt Swap for Gabon”

“…Banks in Europe and the US are vying to play a role in structuring and arranging new debt-for-nature swaps, deals that yield fees and boost their profile in the sustainable debt market. Developing countries with valuable ecosystems are turning to… Continue Reading…

Banking, Economy

“Japan Funds Ramp Up Treasury Purchases Amid US Banking Turmoil”

“Japanese investors bought a record amount of Treasuries in the first three months of the year as concern over the US banking sector damped bets on Federal Reserve rate hikes… Net purchases totaled ¥9.12 trillion ($68 billion) in the January-March… Continue Reading…

Business, Precious Metals

“Gold Miners Newmont, Newcrest Extend Takeover Talks by a Week”

“Talks to secure the biggest ever gold-mining deal will be extended after Newmont Corp. and Newcrest Mining Ltd. failed to reach a binding agreement in the time originally allotted… Newmont, the world’s biggest gold miner, made a non-binding offer to… Continue Reading…

Economy

“There’s a record $5.3 trillion is cash on the sidelines as investors get more bearish on stocks. Here’s why that could mean big gains ahead.”

“… Investors are hoarding cash at record levels and there’s no sign of the trend reversing amid high interest rates and depressed investor sentiment towards the stock market. Money market fund assets have ballooned to a record $5.3 trillion, with… Continue Reading…

Economy

“China’s Debt-to-GDP Ratio Rises to Record 279.7% on Credit Boom”

“…The macro leverage ratio — or total debt as a percentage of gross domestic product — soared to 279.7% in the first quarter, according to central bank and statistics bureau data compiled by Bloomberg. That was an increase of 7.7… Continue Reading…