President Joe Biden recently signed a $460 billion spending bill into law, preventing a partial government shutdown that was looming over the weekend. This bill covers funding for various departments, including military, veterans affairs, agriculture, commerce, justice, transportation, housing and urban development, and energy. On Friday night, the Senate voted 75 to 22 in favor
Global Finance
ESG funds are known for considering a company’s environmental, social, and governance factors when making investment decisions. However, these funds still aim to invest in top performers across various industry groups. According to DWS Group’s Arne Noack, the goal is not to be super concentrated and only select a handful of stocks based on ESG
Recently, the mobile app Alipay announced that foreign visitors to China can now spend up to $2,000 a year without having to register their ID. This is a significant increase from the previous limit of $500, and it is expected to have the most impact on international tourists. The move comes as China has been
New York Community Bank recently disclosed losing 7% of its deposits in the month leading up to a major announcement of a $1 billion-plus capital injection from investors, with former Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital leading the charge. This significant loss amounted to a decrease from $83 billion to $77.2 billion in deposits
In a recent development, New York Community Bank received a much-needed boost with a $1 billion-plus injection announced by the bank. This injection involved a significant investment of $450 million from ex-Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital, along with contributions from other private investors. This move has managed to calm concerns about the bank’s
The Securities and Exchange Commission (SEC) recently approved a new rule that mandates certain U.S. companies to disclose their risks associated with climate change and their contribution to greenhouse gas emissions, by a narrow 3-2 vote. This new rule, spanning over 886 pages, sets a minimum standard for disclosure for publicly traded companies and aims
Nigeria is currently facing a significant economic crisis characterized by a historic currency devaluation and soaring inflation rates. The International Monetary Fund (IMF) has raised concerns regarding the country’s food insecurity issues, with almost 10% of the population facing challenges in accessing adequate food supplies. President Bola Tinubu’s administration, which came to power in May
New York Community Bank (NYCB) is facing a challenging situation as Moody’s Investors Service recently downgraded the deposit rating of its main banking subsidiary by four notches, to Ba3 from Baa2. This marks the second time in a month that the company’s key ratings have been slashed, putting it three levels below investment grade. This
The Toronto Stock Exchange’s parent company, TMX Group, recently made a significant move by acquiring ETF education company VettaFi. According to TMX Group CEO John McKenzie, this acquisition will play a crucial role in expanding the exchange-traded fund business on a global scale. McKenzie emphasized the importance of ETFs in the investment landscape, calling it
New York Community Bancorp stock took a nosedive of over 20% in after-hours trading on Thursday following the announcement of a major leadership change within the regional lender. The bank revealed that Alessandro DiNello, who previously served as the executive chairman, will now be stepping into the roles of president and CEO effective immediately. This
The automotive industry is experiencing a significant shift towards electric vehicles, leading to a surge in the demand for cutting-edge in-vehicle technology. One of the key players in this space is Ecarx, a company founded by Geely’s Eric Li in 2017. Ecarx specializes in providing software and chip systems for digital car cockpits and driver-assist
When faced with a future phone or internet blackout, whether it’s from AT&T or another provider, it’s important for customers to proactively ask for a reimbursement. Many companies do not automatically apply credits for service outages, so consumers need to take the initiative in seeking compensation for the inconvenience. Consumer Advocates’ Advice According to Susan