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Business

“The problem with ESG funds—and how to make a ‘real impact’ with your money: Financial expert”

“…Many people don’t love the idea of financially benefiting from companies whose goals, policies, or methods they strongly disagree with. But boycotting a company’s stocks doesn’t work the same way as boycotting its products…” https://www.cnbc.com/2023/06/22/how-to-move-beyond-esg-funds-and-make-a-real-impact-with-your-money-financial-expert-.html Not in love? They hate it. Also… 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, 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…

Economy

“IMF says fragmentation could cost global economy up to 7% of GDP”

“The International Monetary Fund said that fragmentation could cost the global economy up to 7% of GDP in a new report… The IMF lists a number of factors contributing to increasing global fragmentation, including Russia’s invasion of Ukraine and the Covid-19 pandemic… The IMF… Continue Reading…

Banking, Business, Economy

“SoftBank plans at least 30% staff cuts to Vision Fund, source confirms”

“SoftBank is planning to cut at least 30% of staff at its ambitious investment arm, the Vision Fund, a source confirmed to CNBC. At least 150 out of 500 Vision Fund workers will be impacted by the cuts, according to Bloomberg,… Continue Reading…

Banking

“IMF tells Europe to let consumers bear the brunt of higher bills to encourage energy saving”

“The International Monetary Fund warned European governments against intervening in the region’s worsening energy crisis with broad-based financial support, saying instead that consumers should bear the brunt of higher prices to encourage energy saving and aid the wider shift to… Continue Reading…

Cryptocurrencies

“Crypto hedge fund at center of crisis faces risk of default as deadline to repay $670 million nears”

“Three Arrows Capital, a crypto-focused hedge fund, has to meet a deadline on Monday to repay more than $670 million in loans or face default, in a case that could have a ripple effect across the digital asset market. 3AC,… Continue Reading…

Economy, Stocks

“Hedge Fund Selling Was Never More Furious Than in Last Two Days”

“Hedge funds tracked by Goldman Sachs Group Inc. offloaded US equities for a seventh straight day Monday, with the dollar amount of selling over the last two sessions exploding to levels not seen since the firm’s prime broker began tracking… Continue Reading…

Cryptocurrencies

IMF Dislikes Competition: “Drop bitcoin as legal tender, IMF urges El Salvador”

“The International Monetary Fund is pushing El Salvador to ditch bitcoin as legal tender, according to a statement released on Tuesday. IMF directors “stressed that there are large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection, as… Continue Reading…

Economy

“US Growth Forecast Slashed By One Percent, and IMF Warns Global Economy Is Not Looking Good”

“EDITOR’S NOTE: The global economic recovery from the pandemic is slowing dramatically, and the International Monetary Fund (IMF) just confirmed that by slashing the U.S.’s economic growth forecast. According to CNN, “the IMF on Tuesday slashed its 2021 growth forecast… Continue Reading…