Rising

- A + A (June 23): U.S. companies borrowed 16% more in May to finance their investments in equipment compared to a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Thursday, as firms ramp up production to meet demand. The companies signed up for $9.4 billion in new loans, leases and lines of credit, compared with $8.1 billion a year earlier. "The economy continues to provide jobs and corporate America, in general, reports strong balance sheets - all in the face of a waning health pandemic," Ralph Petta, ELFA's chief executive officer, said in a statement. "Offsetting this good news is high inflation, creating havoc for many consumers, and continued supply chain disruptions and higher interest rates", Petta added. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 76.8%, down from 77.4% in April. The sustained rising interest rate environment, a pandemic overhang and … [Read more...] about US business borrowing for equipment rises 16% in May — ELFA

- A + A NEW YORK/BENGALURU (June 24): US stock index futures rose on Friday, as signs of slowing economic growth and falling commodity prices eased expectations over how high the Federal Reserve will raise interest rates to rein in inflation. Fears that aggressive tightening by major central banks will cause a sharp economic downturn have roiled financial markets this month, pushing the benchmark S&P 500 to confirm a bear market or a 20% fall from its recent peak. Data on Thursday showed US business activity slowed considerably in June, driving investors to scale back bets on where interest rates may peak and bring forward their views on the timing of rate cuts. Money markets see US interest rates peaking at around 3.4% by next March, far below the just above 4% priced for June 2023 before last Wednesday's Fed meeting. Copper prices on Friday were set for their biggest weekly fall in a year and other industrial metals also tumbled, while crude oil was headed … [Read more...] about Futures rise as investors scale back rate hike expectations

- A + A LONDON/SINGAPORE (June 24): Oil rose by almost US$2 a barrel on Friday supported by tight supply, although crude was heading for a second weekly fall on concern that rising interest rates could push the world economy into recession. US Federal Reserve Chair Jerome Powell said on Thursday the central bank's focus on curbing inflation was "unconditional", adding to fears about more interest rate hikes that have weighed on financial markets. Brent crude was up US$1.68 or 1.5% at US$111.73 a barrel by 1155 GMT, while US West Texas Intermediate (WTI) crude gained US$1.84 or 1.8% to US$106.11. Both benchmarks were heading for a second weekly decline. "Increasing recession fears appear to be prompting a culling of heavy speculative long positioning in both contracts, even as in the real world, energy tightness is as real as ever," said Jeffrey Halley, analyst at brokerage OANDA. Oil came close this year to an all-time high of US$147 reached in 2008, as Russia's … [Read more...] about Oil rises almost US$2, still set for weekly drop on recession fears

Perched at the southern tip of Manhattan, Battery Park is particularly vulnerable to flooding. In 2012, the low-lying region was pummeled by Hurricane Sandy, which flooded local tunnels, basements, and the nearby construction site at Ground Zero . But now, the area is protected by a growing network of sea walls, flip-up gates that can be deployed for a storm—and a playground. advertisement advertisement advertisement advertisement Small plaques describe the intention behind every playground feature, but Krevlin believes that kids will understand it intuitively anyway. “Kids have fun playing wherever they are,” she says, “but there was an opportunity to do something that really connected [them] to nature, to natural forces, and the history and the context of the Battery.” advertisement advertisement advertisement advertisement … [Read more...] about This $18 million playground doubles as an unusual barrier against rising sea levels

Copper or Doctor Copper as market analysts refer to it due to its reputation of having a “Ph.D. in economics” because of its ability to predict the direction of global economy, has tumbled significantly in the recent past and is currently trading at its 15-month low on the London Metals Exchange (LME). The past trends of copper prices and global economic growth have signified that both the copper prices and global economy move in tandem and one can predict the turning points in global economy based on the direction of global copper prices. Experts are of the opinion that the correlation between copper prices and global economic health does largely hold good, though, at times there might be some brief aberrations. “Aberrations may occur due to governments’ interventions in the form of fiscal stimulus, or the major central bankers’ trying to respond to the changing macro-economic conditions by the way of change in their monetary policies”, said Praveen Singh, AVP, Fundamental … [Read more...] about Dr Copper’s falling prices indicate more ailments on the cards for global economy

Share to Twitter Share to Linkedin When applying to colleges and programs, it’s not how many activities are on your resume but how significant those activities are that sets candidates apart. Students in high school spend an average of 9.6 hours Monday to Friday on activities outside of the classroom. If you are a high school student applying to a BS/MD program, you have already spent months, if not years, creating a resume that is competitive enough to stand out from the thousands of other applicants. Acceptance rates into BS/MD are extremely tough; some programs have acceptance rates of 1% or less . All competitive BS/MD candidates have excellent grades and test scores, so how they spend their free time sets them apart and secures them that highly coveted spot. Physician Shadowing Physician shadowing is an excellent way to show your dedication to the medical field. Start right in your hometown and ask your pediatrician or family doctor if you may … [Read more...] about What An Extracurricular List For A BS/MD Candidate Should Look Like

(Representative image: Reuters) A day after endorsing Ukraine's candidacy to join the European Union, the bloc's leaders turned their attention to the severe economic turbulence looming over the coming months as the full impact of Russia's war sinks in and the threat of recession rises. The EU's 27 leaders gathered in Brussels to grapple with surging inflation, energy shocks, dwindling business and consumer confidence, and growing budget pressures. The leaders also will have to contend with higher borrowing costs as the European Central Bank prepares to raise interest rates for the first time in 11 years to counter runaway price increases. ECB President, Christine Lagarde, who plans to raise rates next month and again in September, joined the EU summit to discuss the darkening economic outlook. Swedish Prime Minister Magdalena Andersson said, "We are in a difficult situation, its very important that we have this discussion." The EU has spent the previous decade battling … [Read more...] about EU leaders tackle inflation, energy shocks from Russia’s war

- A + A BENGALURU (June 24): The Philippine peso fell for the eighth straight session on Friday (June 24) as markets feared a modest rate hike by the country's central bank may not be enough to curb surging inflation, while other Asian currencies rose against a weaker US dollar. The Bangko Sentral ng Pilipinas (BSP) stuck to a 25-basis-point increase in its benchmark rate on Thursday for a second month in a row, fearing that more aggressive tightening could compromise growth. "Concerns over the gradual pace of BSP hikes, weaker budget balance, as well as policy uncertainty under the new president could be adding to PHP drags in the interim," Maybank analysts said in a note. The peso was on track for its worst week since June 2013. It was down 2% during the week, and hovered at a more than 16-and-a-half-year intraday low notched earlier in the week. The Thai baht was 0.1% weaker intraday, touching a more than five-year low, likely pressured by portfolio outflows, … [Read more...] about Philippine peso on track for worst week in nine years; Asian stocks gain

- A + A PARIS (June 24): TotalEnergies has taken logistics measures to make sure its network of petrol stations and its clients will be sufficiently supplied throughout the weekend despite a strike hitting its French oil refineries on Friday, a spokesman said. The CGT union, which wants an immediate increase in wages to compensate for rising inflation, has called for the 24-hour strike after talks with chief executive officer Patrick Pouyanne fell through. The CGT plans to halt deliveries by truck, train, and pipeline, with only minimum flow for production units at three of TotalEnergies' refineries and two depots. The refineries set to be affected are the 240,000-barrel-per-day (bpd) Gonfreville refinery, the 119,000-bpd Feyzin refinery, and La Mede biorefinery. Fuel storage depots at La Mede and Flanders may also be impacted, the CGT said. Details on the extent of Friday's walkout were not immediately available. … [Read more...] about TotalEnergies says it is prepared for strike at French refineries

- A + A (June 24): US President Joe Biden’s political fortunes have changed dramatically since his first Group of Seven (G7) summit last summer, or even his last visit to Europe in March. It couldn’t come at a worse time for his international allies as Russia settles into a long war with Ukraine. German Chancellor Olaf Scholz, who will welcome G7 leaders in the Bavarian Alps, views Biden as a driving force in sustaining pressure on Moscow and believes that unity among allies could fray once again if Republicans win back the White House in 2024, according to a German government official who requested anonymity to discuss internal thinking. It was only a year ago, on a sandy English beach in Cornwall, when European leaders celebrated that Donald Trump was gone and that the US had returned to the multilateral orbit. Now, that relief has been replaced with a sense of foreboding about whether Biden’s Democrats survive midterm elections and the president’s political … [Read more...] about Biden limps to G7 as allies fret over his troubles at home