Senator Elizabeth Warren has accused Federal Reserve Chair Jerome Powell of acting in favor of the financial industry by considering changes to regulations that would impact the capital requirements of large American banks. According to Warren, Powell’s alleged advocacy for reducing the required increase in capital under the Basel III Endgame rules raises concerns about
Xreal, an Alibaba-backed startup, has recently launched its latest product called the Beam Pro. This innovative device allows users to view games and movies on Google Play Store apps in three dimensions using augmented reality glasses. The Beam Pro, which resembles a smartphone, serves as a virtual mouse and connects the AR glasses to various
Warren Buffett’s Berkshire Hathaway has been steadily increasing its holdings in Occidental Petroleum over the past nine trading sessions. The conglomerate purchased an additional 7.3 million shares, bringing its stake in the Houston-based oil and gas producer to nearly 29%. This series of purchases has solidified Berkshire Hathaway as Occidental’s largest institutional investor. Occidental Petroleum
For the past year, American workers have experienced a boost in their purchasing power, thanks to a combination of falling inflation and a strong job market. This positive trend in real hourly earnings has provided a welcome relief for households facing challenges in affording everyday expenses. According to the U.S. Bureau of Labor Statistics, the
Boeing, one of the leading aircraft manufacturers in the world, is currently facing a severe crisis related to its company culture. The CEO, Dave Calhoun, has admitted that the company’s culture is “far from perfect,” acknowledging that there are significant issues that need to be addressed. As fresh whistleblower claims surface, it becomes apparent that
In 2024, Hong Kong maintained its title as the most expensive city for expats to live in. The survey conducted by Mercer revealed that Asia’s major financial centers, including Singapore and Zurich, also made it to the top of the list. Notably, cities in Switzerland – Zurich, Geneva, Basel, and Bern – claimed four out
The economic impact of the pandemic has hit many Americans hard, with the cost of groceries soaring to new heights. Recent government inflation data shows that while the rate of price increases for food has slowed down, 80% of Americans still feel the pinch of rising grocery costs. Since the onset of the pandemic, grocery
Merck recently announced the approval by the Food and Drug Administration of its latest vaccine, Capvaxive, aimed at protecting adults from a dangerous bacteria known as pneumococcus. This vaccine is specifically designed to target 21 strains of the bacteria, offering protection against severe forms of pneumococcal disease that can lead to pneumonia. The significance of
The U.S. Department of the Treasury and the IRS have recently introduced a plan to eliminate a significant tax loophole that has been utilized by large, complex partnerships. This loophole, known as “related party basis shifting,” involves trading original purchase prices on assets between different legal entities to manipulate deductions and reduce future gains. The
In recent years, car payments have seen a significant surge due to a combination of factors such as high vehicle prices and soaring interest rates. According to data from Moody’s Analytics, the average monthly car payment for customers reached $760 in May. This figure represents a 40% increase from the $535 average payment back in