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Banking, Economy

“Turkey’s central bank raises interest rate to 50% despite previous hints of end to hike cycle”

“Turkey’s central bank on Thursday raised its key interest rate, the one-week repurchase rate, from 45% to 50%, citing the continuing need to counter climbing inflation in the country… Turkish annual consumer price inflation soared to 67% in February, fueling concerns that… Continue Reading…

Stocks

“Shares of Dick’s Sporting Goods soar 15% on holiday earnings beat, dividend raise”

“… …” https://www.cnbc.com/2024/03/14/dicks-sporting-goods-dks-earnings-q4-2023.html

Economy

“US job growth beats expectations in December; wages rise solidly”

“…Nonfarm payrolls increased by 216,000 jobs last month, the Labor Department’s Bureau of Labor Statistics said in its closely watched employment report on Friday. Data for November was revised lower to show payrolls rising 173,000 instead of 199,000 as previously… Continue Reading…

Economy

“Drugmakers set to raise U.S. prices on at least 500 drugs in January”

“Drugmakers including Pfizer, Sanofi and Takeda Pharmaceutical plan to raise prices in the United States on more than 500 unique drugs in early January, according to data analyzed by healthcare research firm 3 Axis Advisors. The expected price hikes come as the pharmaceutical industry gears… Continue Reading…

Business

“sony raises forecast on PlayStation gaming growth but profit drops 31% in first quarter”

“Sony on Wednesday reported a 31% fall in profit in the first fiscal quarter as its life insurance unit dragged on its bottom line, but the company raised full-year sales forecasts on the back of expected strength for its PlayStation gaming… Continue Reading…

Banking

“Big banks have to raise capital by as much as 19% under proposed US rules”

“US regulators are proposing that big banks increase their capital levels to protect against future blowups following a regional banking crisis, one of the most sweeping overhauls of how lenders are regulated since the 2008 financial crisis… …Agency officials said… Continue Reading…

Economy, Personal Finance

“As emergency savings drop and credit card balances rise, experts say taking 3 steps can help”

“Americans have suffered in “declines in overall financial well-being,” according to a new annual Federal Reserve report on economic well-being of U.S. households released last week. Only 63% of all adults can cover an unexpected $400 expense, the report on 2022 found, down from… Continue Reading…

Banking, Economy

“Federal Reserve expected to raise interest rates 0.25%, investors debate next steps”

“The Federal Reserve will kick off its latest two-day policy meeting on Tuesday with officials expected to announce a 0.25% increase in its benchmark interest rate on Wednesday, a move many believe could be the final rate hike of the… Continue Reading…

Economy

“A US debt default could spark mass unemployment, payment failures, and catastrophe that would raise interest rates ‘into perpetuity,’ Treasury Secretary Janet Yellen warns”

“…A government debt default would be catastrophic for the US economy, sparking mass unemployment, payment failures, and interest rates rising “into perpetuity,” according to US Treasury Secretary Janet Yellen. “Since 1789, the United States has paid all of our bills… Continue Reading…

Banking, Economy

“Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated”

“Federal Reserve Chairman Jerome Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakers had expected. Citing data earlier this year showing that inflation has reversed the deceleration it showed in late 2022, the… Continue Reading…