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Economy

“Dutch Pension Funds Send Shockwaves Through Euro Swap Market”

“Dutch pension funds are plowing cash into long-dated swap contracts, according to strategists, upending one of this year’s most popular trades. The funds, by far the region’s largest with more than €1.5 trillion in assets, are likely bidding up the… Continue Reading…

Business

“Johnson & Johnson to reduce its Kenvue stake by at least 80% through exchange offer”

“Johnson & Johnson on Monday said it plans to reduce by at least 80% its stake in Kenvue, the consumer health business it spun out as an independent company earlier this year, via a stock exchange offer. J&J owns 89.6% of Kenvue’s common stock, which amounts… Continue Reading…

Economy

“Turkey prices are 73% higher than last year and might stay that way through Thanksgiving, commodities strategist says”

“The ongoing spread of bird flu will likely affect the price and availability of turkeys this Thanksgiving. Right now the price per pound of an 8 to 16 pound turkey is $1.99, up from $1.15 last year, according to USDA data. This is a 73% increase…… Continue Reading…

Economy

“$4,408,452,000,000: Federal Tax Collections Set Record Through August”

“…The federal government collected a record $4,408,452,000,000 in total taxes in the first eleven months of fiscal 2022 (October through August), according to the Monthly Treasury Statement. That was up $525,658,170,000—or 13.5 percent–from the then-record $3,882,793,830,000 (in constant August 2022 dollars)… Continue Reading…

Business

“Peloton reports big loss, decline in revenue as the company grinds through its turnaround plan”

“Peloton on Thursday reported widening losses and slumping sales in its fiscal fourth quarter as the connected fitness equipment maker attempts to win back investors with cost cuts and strategic shifts. Shares declined more than 14% in premarket trading, a day… Continue Reading…

Economy, Energy

“Russia Stops Oil Flowing Through Pipeline to Central, Eastern Europe”

“Russian oil has stopped flowing through a pipeline that supplies Slovakia, Hungary and the Czech Republic, blaming payment difficulties caused by Western sanctions on Moscow…” https://finance.yahoo.com/m/3a733df9-a22f-3501-bfe7-751ec3180242/russia-stops-oil-flowing.html This means the cost of oil is going up. The cost of energy is… Continue Reading…

Business, Economy

“Business travel costs are expected to rise through 2023, industry report says”

“…Business travel airfare is on track to rise nearly 50% this year over 2021, following two years of steep declines, according to a report from travel management company CWT and the Global Business Travel Association. Next year, fares are set… Continue Reading…

Economy

“Supply chain chaos to persist through to next summer, Siemens chairman says”

“…Businesses and consumers around the world are currently facing lengthy delays on products and materials because of supply chain issues. Speaking to CNBC’s Annette Weisbach on Tuesday, Snabe said: “Right now, we have congestion primarily in the West Coast of… Continue Reading…

Precious Metals

“Shortage of Physical Gold and Silver Through Manipulation”

“The sharp sell-off in gold and silver these past two weeks has taken many by surprise, including me, especially given the growing shortage of physical gold and silver. Make no mistake, the majority of the price decline in both metals… Continue Reading…

Banking, Economy

“Spending and Deficit Set All-Time Records: Feds Spent $3.3 Trillion Through April While Running $1.48 Trillion Deficit”

“The federal government has spent more money and run a larger deficit in the first seven months of fiscal 2020 (October through April) than in any previous year, according to the data published today in the Monthly Treasury Statement. In fact,… Continue Reading…