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Banking

“Fed’s New Backstop Shields Banks From $300 Billion of Losses”

“…There were some concerns that the taxpayer could now be on the hook for covering losses suffered by banks and that questionable management and investments were now being protected by the government. Banks, for example, now can limit accepting losses… Continue Reading…

Economy, Energy

“Why it’s so hard to build new electrical transmission lines in the U.S.”

“…Building new transmission lines in the United States is like herding cats. Unless that process can be fundamentally improved, the nation will have a hard time meeting its climate goals. The transmission system in the U.S. is old, doesn’t go… Continue Reading…

Banking, Real Estate

“US lenders are starting to go bankrupt with new mortgages down 47%…” 

“…A report from ATTOM reveals that new mortgage originations were down 47% in the third quarter of 2022 compared to the year before. That’s a 19% decrease from the previous quarter and represents the biggest annual drop in 21 years.… Continue Reading…

Business

“Amazon set to begin new round of layoffs affecting more than 18,000 people”

“…Earlier this month, CEO Andy Jassy said the layoffs would affect more than 18,000 employees, primarily in its human resources and stores divisions. Amazon said in November it was looking to cut staff, including in its devices and recruiting organizations. CNBC reported at the… Continue Reading…

Economy

“96% of workers are looking for a new job in 2023:..”

“…A whopping 96% of workers are looking for a new position in 2023, largely in search of better pay, according to a recent report by jobs site Monster.com… Nearly half, or 40%, of jobseekers need a higher income due to inflation and rising… Continue Reading…

Cryptocurrencies

“Coinbase settles with New York state financial regulator for $100 million, stock spikes”

“Coinbase settled a case with New York’s state financial regulator, the parties announced Wednesday, and will pay a $50 million fine and invest a further $50 million in compliance efforts. Regulators from the New York Department of Financial Services said that the company… Continue Reading…

Real Estate

“With new mortgages down 47%, US lenders are starting to go bankrupt — could this one factor trigger the worst surge of failures since 2008?”

“…A report from ATTOM reveals that new mortgage originations were down 47% in the third quarter of 2022 compared to the year before. That’s a 19% decrease from the previous quarter and represents the biggest annual drop in 21 years.… Continue Reading…

Economy

“Black Friday online sales top $9 billion in new record”

“Consumers spent a record $9.12 billion online shopping during Black Friday this year, according to Adobe, which tracks sales on retailers’ websites. Overall online sales for the day after Thanksgiving were up 2.3% year over year, and electronics were a… Continue Reading…

Energy

“Sky-High Electricity Is Biden’s New Pain Point Before Elections”

“For months now, high gasoline prices have been arguably the most visible political pain point for President Joe Biden. In most towns, they can be seen every few blocks on signs at filling stations. It’s the fundamental commodity Americans need… Continue Reading…

Economy

“New Zealand plans to tax emissions from livestock burps and dung”

“New Zealand plans to tax agricultural emissions — including those related to the burps, urine and dung from livestock like cows and sheep — in a move its government hopes will help the country meet climate change goals. The aim… Continue Reading…