Stocks Could Keep Rising If the Fed Shows Restraint

Text size As the market rebounds, speculative stocks are stirring. For proof, consider Cathie Wood’s ARK Innovation ETF, up about 40% since mid-June. David Swanson/Reuters/Alamy What bear market? Stocks continued their summer rally this past week as better-than-expected inflation results helped lead to a 3.3% gain in the S&P 500 index, its fourth consecutive weekly … Read more

A Brexit believer may be a good fit for the City as Boris’ messy tenure ends

There will be few tears shed in the City over Boris Johnson’s departure. Back in 2019 some senior figures had, despite deep misgivings, concluded that he was a good choice to replace Theresa May as prime minister. But his performance in office has been a huge disappointment, most importantly of course in terms of his … Read more

What’s the impact of a Russian debt default? Here’s what to know

Russia is poised to default on its foreign debt for the first time since the 1917 Bolshevik Revolution, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine. The country faces a Sunday night deadline to meet a 30-day grace period on interest payments originally due May 27. But … Read more

Senate Advances Bill to Raise Age for RMDs to 75

Text size Savers can wait longer to begin emptying retirement accounts under pending legislation. Eric Lee/Bloomberg The Senate Finance Committee advanced a bill on Wednesday that would raise the age for required minimum distributions from retirement accounts to 75, alongside other provisions designed to strengthen Americans’ retirement security. The Enhancing American Retirement Now (EARN) Act … Read more

Larry Summers was first to sound the alarm on inflation. More economists are applying his methods

Graham Allison is the Douglas Dillon professor of government at Harvard University Is the US economy headed for a hard landing? US Federal Reserve chair Jerome Powell says no. At the Federal Open Market Committee’s 4 May press conference, he insisted that the Fed will manage a “softish” landing. To the contrary, former Treasury Secretary … Read more

Meet the man behind the UK sanctions regime

“It feels a little bit like on variety TV shows years ago. You had those people who spin plates, and they’d go round and by the time the first one has stopped spinning, you’ve got to go back to the start and do it again. It does feel a little bit like that.” The man … Read more

CFTC’s Rostin Behnam: Regulators need to act collectively on digital assets

Commodity Futures Trading Commission chair Rostin Behnam told an audience at the City Week 2022 conference that regulators globally need to approach digital asset regulation in a “uniform manner”. “There are benefits for sure, but there are risks. I think we have to act collectively,” he said on 27 April at the conference, held at … Read more

DiDi Stock Plunges. An SEC Probe Has Alibaba and JD.com Investors On Edge Too.

Text size DiDi headquarters in Beijing AFP via Getty Images Shares in DiDi Global plunged Wednesday after the embattled Chinese ride-hailing company said it was facing a Securities and Exchange Commission investigation into its initial public offering last year. Other Chinese tech stocks were dropping. American depositary receipts of DiDi (ticker: DIDI) lost 5% in … Read more

CEO reportedly laments red ink incurred from Air Force One deal as Boeing posts $1.2 billion first-quarter loss

Boeing said Wednesday that it lost $1.2 billion in the first quarter as it took large write-downs and lost money in both its civilian-airplane and defense businesses. The loss was bigger than Wall Street had forecast, and the company’s quarterly revenue also fell short of expectations. Boeing burned through $3.2 billion in cash. “Messier quarter … Read more

Why Russia Doesn’t Want to Default—Even in a Time of War

Behind the fight over whether Russia should be allowed to pay off its debts is an age-old issue: Borrowers, even in times of war, want to keep their reputations for making investors whole. The U.S. Treasury Department this week blocked Russia from paying off a bond it had due on Monday by denying a sanctions … Read more