Author: News Room

Gold price dips to $2,150 as investors turn cautious ahead of Fed’s interest rate decision. The US Dollar advances on hopes that the Fed could delay rate-cut plans. 10-year US yields fall moderately but hold strength on lower expectations for the Fed reducing interest rates in June. Gold price (XAU/USD) drops to $2,150 in Tuesday’s European session as a strong US Dollar weighs heavily on the precious metal. The appeal for Gold remains subdued amid uncertainty ahead of the Federal Reserve’s monetary policy decision and the release of the quarterly dot plot on Wednesday.  The Fed is widely expected to…

Looking into the rate of crypto adoption and the share of cryptocurrency owners in 56 countries as of February 2024, Nigeria and Turkey lead the pack, according to data from Statista. Notably, selected North American and European countries rank significantly lower. The data was gathered by the Consumer Insights Global Survey of Internet users worldwide. It includes over 2 million participants from selected countries. More specifically, the survey period was January to December 2023. There were between 451 and 10,048 respondents (18-64 years) per country. The question asked in the survey was: “Which of these financial products and investments do…

Congressional leaders on Tuesday formally announced a deal to keep the rest of the government funded through the fiscal year, but with just days to go before a key deadline, members from both parties in the House and Senate will need to cooperate in order to prevent a partial government shutdown. Speaker Mike Johnson announced the deal in a statement, saying he hopes the text of the legislation will be released “as soon as possible,” a key step expected before either chamber votes. A GOP leadership aide told CNN on Monday night that congressional negotiators had reached an agreement on…

Topline MGM Resorts denied an anonymously sourced report from last week claiming singer Bruno Mars owed the resort company millions of dollars in gambling debts accumulated at the company’s Las Vegas casinos, telling Forbes no such debt actually exists. Key Facts Jenn Michaels, the senior vice president of public relations at MGM Resorts International, told Forbes on Monday that Mars “has no debt with MGM,” adding that “MGM and Bruno’s partnership is longstanding and rooted in mutual respect” and any “speculation otherwise is completely false.” Michaels referenced a report from upstart cable news channel NewsNation published last week that claimed…

Don’t believe the media’s latest line that stocks—and by extension 7%+ yielding closed-end funds (CEFs)—are oversold. Far from it! Truth is, stocks—and bonds and real estate, for that matter—are still oversold as a result of the 2022 market crash. You can see that in action in the chart below, with the benchmark ETF for the S&P 500 (in purple) up 11.1% since the start of 2022, while corporate bonds (in orange) are basically flat. And real estate investment trusts (REITs)—in blue—are still in the tank, down about 16%. Fact is, those are all low numbers, even for stocks: the S&P…

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A recession is four times more likely to happen than an expansion, says economist David Rosenberg. Real retail sales and industrial production are flagging, a key signal a recession is around the corner. Labor-market data may also not be painting the full picture, Rosenberg said.  Economist David Rosenberg has been sounding the recession alarm in recent months, and he now thinks that the likelihood is much greater that the US sees a contraction this year. The head of Rosenberg Research said he believes that a recession is four times more likely than an economic expansion, and it’s just a matter of…

Good morning! A controversial new study suggests intermittent fasting increases your chance of dying of cardiovascular illness. But critics of the research, which hasn’t been published in a peer-reviewed journal, are skeptical of the findings.What’s on deck:But first, a tech dream team.If this was forwarded to you, sign up here.The big storyGoogle, Apple, AITwo of the world’s biggest tech companies are reportedly discussing a partnership that would upend the AI industry.Apple is considering integrating Google’s AI model, Gemini, into the iPhone.Nothing is finalized, so the potential deal terms aren’t clear. But the broad strokes of the arrangement could see Apple…

WASHINGTON (Reuters) – The top Republican and Democrat in the U.S. Congress on Tuesday said they had reached a deal to keep the government funded through the rest of the fiscal year that began in October, setting off a race to pass it before a weekend shutdown deadline. The last sticking point was funding for the Department of Homeland Security, as a surge in migrants at the U.S.-Mexico border has become a major issue in the election rematch between Democratic President Joe Biden and his Republican predecessor Donald Trump. Republican House Speaker Mike Johnson and Democratic Senate Majority Leader Chuck…

TAMPA, FL – Crown Holdings, Inc. (NYSE:), a global leader in rigid packaging products, has announced a 15-year Virtual Power Purchase Agreement (VPPA) with Enel (BIT:) Green Power España, securing renewable electricity for its operations in Europe. The agreement aligns with Crown’s Twentyby30™ sustainability initiative, aiming to reduce greenhouse gas emissions and enhance corporate stewardship. The VPPA is set to provide Crown with renewable energy from a new photovoltaic (PV) project in Badajoz, Spain, which is scheduled to commence operations in October 2025. This project marks Crown’s first European VPPA and is expected to generate approximately 285,100 Megawatt hours (MWh)…