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Monthly Archives: May 2023

Elizabeth Warren presses regulators on First Republic takeover

Sen. Elizabeth Warren, D-Mass., greets Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation, during the Senate Banking, Housing, and Urban Affairs Committee hearing in Dirksen Building on Tuesday, March 28, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images WASHINGTON — Sen. Elizabeth Warren is asking federal financial …

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Market’s tech focus is ‘shortsighted,’ portfolio manager says

Tech stocks on display at the Nasdaq.  Peter Kramer | CNBC The market’s affinity for Big Tech stocks this year is “shortsighted,” according to portfolio manager Freddie Lait, who said the next bull market phase will broaden out to other sectors offering greater value. Shares of America’s tech behemoths have …

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Global debt near record highs as the new monetary era triggers ‘crisis of adaptation’

HIROSHIMA, JAPAN – MAY 17: People walk beneath a banner promoting the Group of 7 (G7) summit at a shopping street on May 17, 2023 in Hiroshima, Japan. The G7 summit will be held in Hiroshima from 19-22 May. (Photo by Tomohiro Ohsumi/Getty Images) Tomohiro Ohsumi | Getty Images News …

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Ripple CEO says more crypto firms may leave U.S. due to confusing rules

“Confusing” regulations in the U.S. will push more crypto companies to leave the U.S. as firms like Ripple look to hire and invest outside the country, the CEO of blockchain services company Ripple told CNBC in an exclusive interview. “Europe really has provided leadership and countries like UAE … the …

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Bank of England governor says the UK is facing a wage-price spiral

A sign displays the price in pound sterling of food goods, including cucumbers, at a a fruit and vegetable market in stall east London on March 31, 2023. Susannah Ireland | Afp | Getty Images LONDON — After more than a year of warnings, Bank of England Governor Andrew Bailey …

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AI-driven gains could lead to 30% S&P 500 profit spike

Over the next 10 years, AI could increase productivity by 1.5 percent per year. And that could increase S&P500 profits by 30 percent or more over the next decade, Goldman Sachs says. Nurphoto | Nurphoto | Getty Images Goldman Sachs is bullish about artificial intelligence and believes the technology could …

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States where homeowners put the most money toward housing costs

The share of income spent on homeownership varies widely across different U.S. states, but the biggest burden is felt in Hawaii, new data from online lending marketplace LendingTree reveals. LendingTree found the percentage of households that spend more than 30% of their income on housing in all 50 U.S. states …

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Why so many people making $100,000 a year don’t feel rich

Shortly after graduating from college in 2013, I landed my first grown-up job in journalism, interning at a personal finance magazine in Washington, D.C. I didn’t know much about the material but I had to learn quickly, since the gig paid just $12 an hour, a wage I supplemented by …

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Jim Cramer says stay invested, but keep reserve cash to buy into weakness

CNBC’s Jim Cramer said on Wednesday not to agonize over investments as Washington edges closer to a debt-ceiling deal. As investors saw on Tuesday, news about lawmakers’ debt ceiling compromise often breaks after market’s close, too late to maximize buying opportunities. To that, Cramer offered advice about how to keep …

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