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Monthly Archives: December 2022

Alphabet is not making enough money

Morgan Stanley: “I want you to hold it. I think it’s terrific at $89.” SLB: “[Russia] pretty much made a deal between our Western allies and us that allows them to overproduce [oil], which is going to cause Schlumberger to roll down another maybe $5, $6 before we’re interested in …

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Supreme Court takes Coinbase crypto lawsuits appeal

The Supreme Court on Friday agreed to hear an appeal by the major crypto exchange Coinbase, which is seeking to have two customer lawsuits against the company resolved by private arbitration, not by a federal court. “We are gratified the Supreme Court agreed to hear our appeal, and we look …

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Ron Insana says Fed rate hikes won’t fix what’s wrong with the economy

Demonstrators call for immigration reform near the White House in Washington, DC, on February 14, 2022. Nicholas Kamm | AFP | Getty Images In 1968, Jerry Lewis starred in a movie entitled, “Don’t Raise the Bridge, Lower the River.” The title keeps coming to mind when I think of how …

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Why Congress may revisit the child tax credit in the lame duck session

House and Senate champions and impacted families appear at a Dec. 7 Washington, D.C., event for expanding the child tax credit during the lame duck session. Tasos Katopodis | Getty Images Entertainment | Getty Images Millions of children were lifted out of poverty in 2021, thanks to a more generous …

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Red flags from business past

Kris Marszalek, CEO of Crypto.com, speaking at a 2018 Bloomberg event in Hong Kong, China. Paul Yeung | Bloomberg | Getty Images Kris Marszalek wants everyone to know that his company, Crypto.com, is safe and in good hands. His TV appearances and tweets make that clear. It’s an understandable approach. …

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Here’s how to afford to buy your first home with a lower down payment

The Central Business District of Pittsburgh J. Altdorfer Photography | Getty Images After bidding wars during the pandemic, demand for home purchases has fallen amid higher mortgage interest rates. That dynamic has made some markets are more attractive for first-time home buyers for 2023, according to a Zillow report released …

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Wholesale prices rose 0.3% in November, more than expected, despite hopes inflation is cooling

Wholesale prices rose more than expected in November as food prices surged, dampening hopes that inflation could be headed lower, the Labor Department reported Friday. The producer price index, a measure of what companies get for their products in the pipeline, increased 0.3% for the month and 7.4% from a …

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FTX founder Sam Bankman-Fried agrees to testify before House

FTX founder Sam Bankman-Fried has agreed to testify before the House Financial Services Committee at a hearing about the crypto exchange’s collapse on Tuesday, he said in a series of tweets Friday morning. There’s been a lot of back and forth in Washington over whether lawmakers would have to subpoena …

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Americans are flocking to wildfire country

Over the last decade, there was an influx of Americans into regions where climate change is making wildfires and extreme heat more common, according to an analysis of multiple data sets done at the University of Vermont (UVM). Broadly speaking, Americans migrated to the cities and suburbs in the Pacific …

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Prosecutors want $100 million NJ deli SEC case postponed

Hometown Deli, Paulsboro, N.J. Mike Calia | CNBC Federal prosecutors in New Jersey want the Securities and Exchange Commission to postpone its civil case against the alleged masterminds behind a $100 million fraud scheme involving a small-town deli so it won’t get in the way of their ongoing criminal case.  …

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