Finance
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Russia’s economy minister admits ‘reserves have largely been used up’ while communist lawmaker warns of 1917-style revolution as GDP shrinks
The Kremlin offered more indications that it’s acknowledging Russia’s economy is in trouble after years of relying on military spending for growth. Last week, Economy Development Minister Maxim Reshetnikov told a business conference that the economy “is not easy” and called for reallocating the workforce, which has been tight as Russia’s war on Ukraine and
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U.S. oil producers aren’t coming to the rescue despite high prices as mistrust and chaos hit outlook. The ‘market is being manipulated’
Companies in the heart of the U.S. oil patch don’t plan on opening up the taps anytime soon—even as the recent spike in crude prices offers a windfall opportunity—due to all the uncertainty weighing on the longer-term outlook. In a survey of oil and gas executives conducted by the Dallas Fed, which covers the prolific
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Kevin Warsh is poised to lead the Fed with none of the gravitas Greenspan had but plenty of baggage from Trump, former Powell adviser says
President Donald Trump has made it clear he expects his choice for Federal Reserve chair to quickly cut interest rates once he takes office. Yet Americans shouldn’t pencil in lower borrowing costs for mortgages, auto loans, or business loans just yet. The odds of Kevin Warsh becoming chair by the time Jerome Powell’s term ends
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Milestones like marriage and parenthood are so delayed for millennials and Gen Z many of them are skipping out on life insurance, report finds
Due to the rising cost of housing and wages not catching up to inflation, Gen Zers and millennials are delaying major life milestones like buying a home or becoming a parent. In some cases, they’re pushing off these major milestones to enjoy life in the moment by traveling or making large purchases. This phenomenon is
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According to Warren Buffett’s math the stock market is officially in ‘playing with fire’ territory. So when is the next crash coming?
When Warren Buffett gets nervous, you and I should probably be nervous too. The Oracle of Omaha has long held to a simple maxim when it comes to whether the stock market is undervalued, fairly valued, or overvalued. His thesis: The total value of U.S. stocks, over the long term, can’t outpace the growth of
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Utility giant Duke Energy plans to spend industry record $103 billion on growth as data centers and affordability take center stage
Utility giant Duke Energy may not be a household name, but it sits at the epicenter of the AI data center boom and affordability debate as it plans to spend an industry record of $103 billion for growth over just five years—and CEO Harry Sideris isn’t afraid to say he expects that eye-popping number to
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Intel’s blowout quarter just sparked its best day since 1987
A surge for Intel following a blowout profit report led the U.S. stock market to more records Friday, while oil prices kept yo-yoing in the wait for what’s next with the Iran war. The S&P 500 climbed 0.8% and topped its prior all-time high, which was set on Wednesday. The Dow Jones Industrial Average dipped
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Even as businesses spend $4 million to cross Panama Canal, they say ‘it’s safer and less expensive’ than the Strait of Hormuz
Businesses have doled out as much as $4 million for last-minute plans to move boats through the Panama Canal in recent weeks, the Panama Canal Authority says, as Iran war’s effective closure of the Strait of Hormuz generates a seismic shift in global trade flows. While passage through the canal usually comes at a flat
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Trump just sanctioned a major Chinese oil refinery over Iranian oil—weeks before he meets Xi Jinping
President Donald Trump’s administration is placing economic sanctions on a major China-based oil refinery and roughly 40 shipping companies and tankers involved in transporting Iranian oil. The move, announced Friday and first reported by The Associated Press, makes good on Trump’s threat to impose secondary sanctions on companies and countries that do business with Iran.
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Ricky Sandler shuttering Eminence Capital after 27-year run
Hedge fund veteran Ricky Sandler is shuttering Eminence Capital and returning cash to investors after a 27-year run. “Over the last few years, it has become increasingly difficult to apply our rigorous bottom-up investment process to rapidly shifting market conditions and an evolving market structure,” Sandler wrote in a letter seen by Bloomberg. “We believe