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Economy

“New Orleans braces for drinking water emergency from drought-stricken Mississippi River”

“Officials in Louisiana are in a race against time as salt water from the Gulf of Mexico threatens drinking water supplies in New Orleans and its surrounding areas because of unusually low levels in the drought-addled Mississippi River. New Orleans… Continue Reading…

Economy, Stocks

“JPMorgan’s Marko Kolanovic braces for 20% market plunge, delivers recession warning”

“JPMorgan’s Marko Kolanovic is bracing for a 20% sell-off to hit the S&P 500. According to the Institutional Investor hall-of-famer, high interest rates are creating a breaking point for stocks — and choosing cash at a 5.5% return in money… Continue Reading…

Economy, Stocks

“The spending slowdown is coming. The stock market should brace for impact.”

“ … Dwindling savings, weak wage gains, and the return of student loan payments mean people have plenty of reason to tighten their belts for the second half of the year — and experts say that could ultimately curb gains in the stock market.… Continue Reading…

Business, Stocks

“Pharma stocks crater as investors brace for billions in heartburn drug litigation charges”

“Shares of GlaxoSmithKline, Sanofi and Haleon all sold off sharply this week, shedding tens of billions in market value, amid investor fear over potential U.S. litigation charges focused on popular heartburn drug Zantac. This has been a known issue bubbling in the background for years… Continue Reading…

Economy

“Jamie Dimon says ‘brace yourself’ for an economic hurricane caused by the Fed and Ukraine war”

“JPMorgan Chase CEO Jamie Dimon says he is preparing the biggest U.S. bank for an economic hurricane on the horizon and advised investors to do the same… “You’d better brace yourself,” Dimon told the roomful of analysts and investors. “JPMorgan is bracing ourselves… Continue Reading…

Economy

“The [Lockdowns] created a new billionaire every 30 hours as millions brace for extreme poverty”

“Oxfam International has a new report out today that highlights the rapidly widening gap between the few ultra-rich and the world’s poorest. The report, titled “Profiting from Pain,” found that during the first two years of the pandemic, a new billionaire was… Continue Reading…

Banking, Personal Finance

“U.S. Retirement Funds, Heavy on Stocks, Brace for Losses”

“Volatile stock markets are eroding the retirement savings of America’s teachers and firefighters after public pension systems ended last year with equity holdings at a 10-year high…” https://www.wsj.com/articles/u-s-retirement-funds-heavy-on-stocks-brace-for-losses-11646601597 If you’re a young person do not count on any U.S. government… Continue Reading…

Banking

“Global banks brace for losses from Archegos fallout”

“Global banks may lose more than $6 billion from the downfall of Archegos Capital, sources familiar with trades involving the U.S. investment firm said on Monday, and regulators and investors fear the episode could reverberate more widely. Japan’s Nomura and… Continue Reading…

Economy

“More than 2,100 U.S. cities brace for budget shortfalls… many planning cuts and layoffs”

“More than 2,100 U.S. cities are anticipating major budget shortfalls this year and many are planning to slash programs and cut staff in response, according to a new survey of local officials released Tuesday… Nearly 9 in 10 cities surveyed… Continue Reading…

Banking

“JPMorgan Profit Sinks Nearly 70% As It Braces For Loan Defaults”

“JPMorgan Chase & Co.’s first-quarter profit tumbled 69% and the bank set aside an additional $6.8 billion to cover potential losses on loans to consumers and businesses struggling to stay afloat during the coronavirus shutdown…” https://www.wsj.com/articles/jpmorgan-chase-reports-profit-falls-69-amid-u-s-coronavirus-outbreak-11586862723