Political/General News
- Market
Fourth of July closings: Are banks and the post office open on July 4?
The Fourth of July holiday commemorating the ratification of the U.S. Declaration of Independence is this Monday, and many Americans…
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Several dead and injured in Copenhagen mall shooting; suspect arrested
A gunman opened fired inside a busy shopping mall in the Danish capital on Sunday, killing several people and wounding…
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Believe it or not, gas prices have been edging down this Fourth of July — here’s why
It’s a cool breeze during a hot moment, but it’s not the summer weather. As record-breaking numbers of Americans pack…
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FCA strikes cancelled as Unite says union recognition back on the table
Financial Conduct Authority staff have called off planned strike action, as Unite claims that union recognition is back “on the table”.…
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Klarna valuation to be chopped to $6.5bn in fresh fundraise
Klarna is nearing a deal to raise new money at a valuation of around $6.5bn, according to people familiar with…
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Weekend reads: What’s ahead for the stock market after that brutal first half of 2022
The first half of 2022 marked a big change for investors and consumers, as inflation reared its ugly head. It…
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The U.S. bets billions of dollars on better COVID-19 boosters as it prepares for a spike in COVID-19 cases in the coming months
The U.S. is gearing up for another wave of COVID-19 infections in the fall and winter following a flurry of…
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Money laundering watchdog pushes for crypto information-sharing rules
Most countries lack “travel rule” laws that could help prevent the illicit use of cryptocurrency by criminals and terrorists, a…
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EU crypto rules to force tether, USD coin to hold more reserves in ‘Wild West’ market
A landmark agreement for Europe to regulate cryptocurrency markets across the continent is set to bring stablecoins such as tether and…
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Johnson ‘impatient’ at pace of post-Brexit Solvency II rules: report
The Bank of England and Boris Johnson are on a collision course over the future of Solvency II reforms, according…
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Leon Black rebuffed in Apollo conspiracy claim
A federal judge dismissed a case brought by former Apollo Global Management chief executive Leon Black alleging that his former partner and…
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UBS in $25m SEC settlement over complex options products
UBS agreed to pay $25m to settle fraud charges from the Securities and Exchange Commission over a complex options-trading strategy…
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Supreme Court limits EPA’s role in combating climate change in a fresh jab at the 50-year-old Clean Air Act
President Joe Biden’s plan to address climate change hit a major hurdle as the Supreme Court on Thursday ruled to…
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Mortgage rates take a breather after nearly doubling in one year’s time
The 30-year fixed-rate mortgage averaged 5.7% for the week ending June 30, according to data released by Freddie Mac on…
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Stocks could drop 50%, Nouriel Roubini argues. Things will get much worse before they get better.
NEW YORK (Project Syndicate)—The global financial and economic outlook for the year ahead has soured rapidly in recent months, with…
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Missing ‘CryptoQueen’ added to FBI’s Most Wanted list
Ruja Ignatova, the self-styled “CryptoQueen” and founder of the OneCoin crypto project, has been added to the FBI’s 10 Most…
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Salary of supreme court justice? When does judge Jackson start? 4 things to know
The Senate voted 53-47 to confirm the nomination to the U.S. Supreme Court of Judge Ketanji Brown Jackson in early…
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These 10 stocks in the S&P 500 have lost $4.1 trillion of investors’ money during the first half of 2022
The first half of 2022 is over today, and good riddance for investors: The S&P 500 Index has declined 21.4%.…
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Senator Pat Leahy has broken his hip
MONTPELIER, Vt. (AP) — U.S. Sen. Patrick Leahy of Vermont has broken a hip in a fall at his home…
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Research Affiliates CEO calls crypto a ‘Ponzi scheme,’ questions ‘substance’ of blockchain
The chief executive of California-based asset manager Research Affiliates has called cryptocurrencies a “Ponzi scheme”, claiming bitcoin and the blockchain…
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Regulators in New York eye further crypto guidance
The head of the New York State Department of Financial Services said she wants the regulator to continue to be…
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MPs call for tougher action on bankers, lawyers ‘enabling’ Putin
MPs have called for a tougher crackdown on City firms that support Russia’s regime amid continuing aggression against Ukraine. London’s…
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Crypto exchange CoinFlex won’t lift withdrawal freeze yet, despite ‘significant progress’ in rescue token fundraising, CEO says
Crypto exchange CoinFlex, which has halted user withdrawals since June 23, will not lift the freeze on Thursday as originally…
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Three Arrows Capital falls into liquidation as crypto winter bites
Cryptocurrency-focused hedge fund Three Arrows Capital has gone bust, becoming one of the most prominent victims yet of the so-called…
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Here’s why this trader is piling back into one of the year’s hottest commodities
The end of June is nigh and good riddance. Down about 7%, only March has delivered a win for S&P…
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How threat of recession could push workers back — or end office life as we know it
The threat of recession amid a shrinking economy may force a return to the office for employees. Or the end…
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Investment bank fees fall by $24bn as deal boom loses steam
Dealmaking fees at top investment banks slumped by as much as 56% during the first half of 2022, as recessionary fears and…
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Plunging bitcoin hits crypto miners
The plummeting price of bitcoin could force crypto miners to sell the tokens to fund operations, further pressuring the digital…
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FDA advisers say the U.S. needs updated COVID-19 boosters to fight omicron
The U.S. should pursue a COVID-19 booster strategy that focuses on developing new shots that better protect against omicron and…
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How long will stocks stay in a bear market? It hinges on if a recession hits, says Wells Fargo Institute
When the S&P 500 officially dropped into a bear market on June 13, closing down more than 20% from its…
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Being a true contrarian investor and outsmarting Wall Street takes more than just going against the crowd
Genuine contrarians are rare on Wall Street. When “blood is running in the streets,” to quote that famous — and…
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G-7 summit ends with pledge to help Ukraine ‘as long as necessary’
ELMAU, Germany (AP) — Leaders of the world’s wealthiest democracies struck a united stance Tuesday to support Ukraine for “as…
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EY to pay $100m settlement fine over audit employees cheating CPA exams
WASHINGTON — Ernst & Young agreed to pay a record $100m fine and to admit that some of its auditors…
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SEC fines Ernst & Young $100 million for employees cheating on CPA ethics exams
Accounting giant Ernst & Young will pay $100 million to settle charges with the Securities and Exchange Commission that hundreds…
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Consumer-related, travel stocks rise after China loosens quarantine requirements
Shares of many consumer- and travel-related stocks rose sharply after news that China will ease some of the restrictions to…
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Crypto lobbyist donated £500k to Conservatives before UK’s ‘crypto hub’ move
The Conservative Party received a £500,000 donation from a British crypto investor two months before the government pledged to make…
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Credit Suisse fined $2m over money laundering linked to cocaine trafficking
Credit Suisse and a former employee were found guilty 27 June in a Swiss federal criminal court of helping a Bulgarian crime…
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HSBC names top dealmaker Alexi Chan to lead new sustainable finance team
HSBC has promoted one of its top investment bankers to lead a new team of dealmakers tackling sustainable finance —…
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Concealed carry laws boost gun crime by a third, study finds
A new study finds concealed carry laws lead to a boost in gun crime by between 29% and 32%, mostly…
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Black bankers in senior ranks at Goldman, JPMorgan show ‘snail’s pace’ of diversity drives
Wall Street banks are making slow and patchy progress on improving diversity, latest figures show. Banks are providing new clarity on…
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G-7 set to announce price cap on Russian oil
ELMAU, Germany (AP) — The Group of Seven economic powers are set to announce an agreement to pursue a price…
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SocGen accuses Clifford Chance of negligence in £384m gold bullion dispute
Societe Generale has accused Clifford Chance of negligence over its work for the bank in a dispute over £384m-worth of…
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Martin Gilbert: The City must cherish its older workers
Martin Gilbert, the co-founder and former CEO of Aberdeen Asset Management, is chair of AssetCo and Revolut Paul McCartney headlining…
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These solar and green hydrogen ‘nanogrids’ come together like Legos, keep hospitals humming after hurricanes
Sesame Solar CEO Lauren Flanagan was a Software-as-a-Service (SaaS) pioneer who worked with Apple co-founder Steve Jobs during his NeXT…
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Pfizer says updated COVID-19 booster can provide more protection against super-contagious omicron
Pfizer says changing its COVID-19 vaccine to better target the omicron variant is safe and effective. The update, in a…
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Biden signs largest gun measure in decades, says ‘lives will be saved’
President Joe Biden on Saturday signed the most sweeping gun violence bill in decades, a bipartisan compromise that seemed unimaginable until a…
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Recession scare starting to challenge inflation as top fear among stock and bond investors
It’s easy to want to duck for cover given the carnage seen this year in stocks and bonds, particularly with…
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CDC panel backs Moderna vaccine for children aged 6 to 17, and study finds vaccines saved about 20 million lives in their first year
A panel of advisers to the Centers for Disease Control and Prevention voted unanimously Thursday to recommend Moderna’s COVID vaccine…
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What’s next after Roe v. Wade is overturned: Other rights connected to privacy are in danger
Almost all American adults — including parents, medical patients and people who are sexually active — regularly exercise their right…
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Hackers steal $100m in cryptocurrency
Hackers have stolen roughly $100m in cryptocurrency from a blockchain bridge, technology company Harmony said 23 June. Harmony, which hosts the Horizon…
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