Inflation and employment remain well below the Federal Reserve’s goals, meaning easy monetary policy is likely to stay in place, central bank Chairman Jerome Powell said Tuesday. Despite a sharp rise this year in bond yields that has accompanied heightened concern over inflation, Powell said price pressures remain mostly muted and the economic outlook is still “highly uncertain.” […]
The Federal Aviation Administration has ordered emergency inspections of Boeing 777 aircraft with engines like the one that exploded on a United Airlines jet last weekend. The Emergency Airworthiness Directive prohibits U.S. airlines who operate planes equipped with the same Pratt & Whitney PW 4000 engines from further flights until the checks completed. The directive […]
Apparently not content with having penetrated the networks of such piddling federal agencies as the U.S. State Department, the Department of Homeland Security, and that agency that maintains our nuclear stockpile, the hackers of the “SolarWinds” affair also went after NASA and the Federal Aviation Administration, according to a new report from the Washington Post. The report comes shortly after a […]
Microsoft Corp. (NASDAQ: MSFT) co-founder Bill Gates is not bullish on Bitcoin (BTC) and is cautioning others to reconsider such investments — unless they have more money than Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk. What Happened: Gates told Bloomberg on Monday that he isn’t worried about Musk’s Bitcoin randomly going up or down. “Elon […]
Petrobras shares plunged 22% on Monday, wiping out 71 billion reais ($13 billion) in market value, as Brazilian President Jair Bolsonaro again slammed its pricing policies after he replaced the state-controlled oil company’s market-friendly CEO with a retired army general. The selloff, following a series of analyst downgrades, deepened after Bolsonaro said the company’s fuel […]
The leaders of the OPEC+ alliance, Saudi Arabia and Russia, are reportedly once again at odds over oil supply management ahead of another crucial meeting of the group next week. OPEC’s top producer and de facto leader Saudi Arabia would likely prefer the March 3-4 meetings to decide that the OPEC+ coalition holds production flat […]
Rising bond yields and accompanying inflation fears are adding a level of drama to Federal Reserve Chairman Jerome Powell’s appearance this week before Congress. The central bank chair is slated to address Senate and House panels on successive days as part of mandated semiannual updates on monetary policy. Normally routine affairs, recent financial market tumult […]
HSBC on Tuesday reported full-year earnings for 2020 that beat expectations and announced a dividend payout for the first time since the Covid-19 pandemic. Europe’s largest bank by assets, which makes most of its revenues in Asia, said its reported profit before tax for 2020 fell 34% from a year ago to $8.78 billion. That […]
Boeing Co said on Sunday it was recommending air carriers halt flights of 777 airplanes like the United Airlines plane that suffered a right engine failure until the Federal Aviation Administration (FAA) issued inspection protocols. Boeing said it recommends “suspending operations of the 69 in-service and 59 in-storage 777s powered by Pratt & Whitney 4000-112 […]
After unusual icy weather left millions of Texans without power, some are facing another crisis: Sky-high electricity bills. The surge in pricing is hitting people who have chosen to pay wholesale prices for their power, which is typically cheaper than paying fixed rates during good weather, but can spike when there’s high demand for electricity. […]
A group of activist investors with about 9.5% stake in Kohl’s Corp is attempting to take control of the department store chain’s board, The Wall Street Journal reported on Sunday. Investors including Macellum Advisors GP, Ancora Holdings, Legion Partners Asset Management, and 4010 Capital had earlier this year nominated nine people to its now-12-person board, […]
Tesla has made roughly $1 billion in paper profits from its investment into bitcoin, according to Daniel Ives, analyst at Wedbush Securities. The company is “on a trajectory to make more from its Bitcoin investments than profits from selling its EV (electric vehicle) cars in all of 2020,” Ives estimated in a note published Saturday. […]
