August Sees Unpredicted Rise in Unemployment Rate to 3.8% Despite 187,000 Increase in PayrollsIn August 2023, the U.S. experienced a significant rise in its unemployment rate, indicating a slowdown in the job market as the summer drew to...- JPMorgan Chase’s Earnings Declined 28% After Building Reserves For Bad Loans, And The Bank Suspended Share Buybacks.JPMorgan Chase announced Thursday that its second-quarter profit slumped as it built a reserve for bad loans of $428 million and suspended share buybacks. Chairman and...
- BlockFi secret financials show a $1.2 billion relationship with Sam Bankman-Fried’s crypto empireBankrupt crypto lender BlockFi had over $1.2 billion in assets tied to Sam Bankman-Fried’s FTX and Alameda Research, according to previously redacted financials that were...
- Bitcoin jumps above $19,000 to highest level since November on cooling U.S. inflationAs traders bet on a U.S. inflation slowdown and digested news that lawyers for defunct crypto exchange FTX have found billions of dollars of assets,...
- Fed Officials See Higher Rates for ‘Some Time’ AheadAccording to minutes released Wednesday from the central bank's December meeting, Federal Reserve officials are committed to fighting inflation and expect higher interest rates to...
- Elon Musk sells another huge chunk of Tesla sharesAccording to a financial filing released Wednesday night, Tesla CEO Elon Musk sold about 22 million additional shares in his electric vehicle company, worth about...
- Jamie Dimon says inflation-eroding consumer wealth may cause a recession next year.According to Jamie Dimon, the U.S. economy could enter a recession next year due to inflation. While consumers and companies are in good shape, that...
- Stock Funds Rise Again but Remain DamagedThe stock market and U.S. stock funds rose for the second consecutive month. However, It is understandable if fund investors do not feel giddy about...
- Goldman Ceo David Solomon Says It’s Time To Be Cautious Because There’s a Good Chance Of a RecessionAccording to Goldman Sachs CEO David Solomon, the U.S. economy may be heading for a downturn that could make investment and business decisions more difficult....
- Fed’s Evans Says Fighting Inflation Is The Top Priority Even If That Means Job LossesAccording to Chicago Federal Reserve President Charles Evans, the central bank remains committed to reducing inflation even if it means cutting jobs. Three weeks before...
