World bank debarred list

- A + A HONG KONG/SINGAPORE (Aug 12): US-listed China stocks slid on Friday after some of the Asian nation's largest state-owned companies announced plans to delist from American exchanges amid a spat over audits and generally worsening tensions between the world's top two economies. China Petroleum & Chemical Corp (Sinopec), China Life Insurance Co, and PetroChina Co were among the biggest decliners on the Nasdaq Golden Dragon China Index with a drop of at least 3% each after they all disclosed their intentions to delist. The sudden announcements also sparked a slump in Alibaba Group Holding Ltd, Pinduoduo Inc, and JD.com Inc, which all fell more than 1%. The Golden Dragon Index declined as much as 2.8%, the most in a week. About 200 Chinese companies, including Alibaba and Baidu Inc, are listed in the US and are likely to face delisting threats because American regulators are not able to verify their financial audits. State-owned enterprises are deemed able to … [Read more...] about Sinopec, US-listed China stocks drop amid exit woes

Share to Twitter Share to Linkedin How Credit Cards Changed During the Pandemic and What to Expect in 2023 The last few years have been a roller coaster for both the travel industry and the market for rewards credit cards. In looking back over the last few years, some notable trends jump out as card issuers tried to react to customer sentiment and stay relevant in a highly dynamic environment. From shifting bonus categories to hefty welcome offers and an array of new product launches, here’s a look back at where we’ve been, and a possible glimpse at where the market is heading in 2023. [ The Points Guy ] Buy Now, Pay Later Sounds Too Good to Be True Because It Is Buy Now Pay Later companies often don’t do in-depth checks of consumers’ credit, meaning people wind up getting into debt they can’t pay. If someone screws up, they can be hit with late fees and see their credit scores dinged. And screwing up is easy to do if people are taking out … [Read more...] about This Week In Credit Card News: How The Pandemic Changed Credit Cards; The Dangers Of Buy Now, Pay Later

Share to Twitter Share to Linkedin The wild party is over, and the United States is now dealing with the hangover. Americans are experiencing the adverse effects of consequential decisions made by the Federal Reserve Bank and the U.S. government. The institutions distorted the economy by printing too much money and spending trillions of dollars on various stimulus programs . To revitalize the economy in the wake of business shutdowns during the pandemic, the Fed—through quantitative easing—bought Treasury and agency mortgage-backed securities—amounting to around $8.5 trillion . The cascade of money flooding the market, in part, led to the rapid rise in inflation. Once inflation rose uncontrollably, it was clear that the jig was up. The Fed has no other choice than clamp down on the economy, which will catalyze job losses, to fight ruinous inflation. Inflation, Yet Another Tax These actions result in a lower quality of life for many people. … [Read more...] about Financial Anxiety Is Increasing As Inflation Surges, And People Are Living Paycheck To Paycheck

Source: Reuters Several Chinese state-owned companies including China Life Insurance (601628.SS) and oil giant Sinopec (600028.SS) announced plans on Friday to delist from the U.S. stock market. The companies, which also include Aluminium Corporation of China (Chalco) (601600.SS) and PetroChina (601857.SS), said in separate statements that they would apply for delistings of their American Depository Shares from the New York Stock Exchange (NYSE). The four will keep their listings in Hong Kong and mainland Chinese markets. "These companies have strictly complied with the rules and regulatory requirements of the U.S. capital market since their listing in the U.S. and made the delisting choice for their own business considerations," the China Securities Regulatory Commission (CSRC) said in a statement. China and the United States have been in talks to resolve a long-running audit dispute that could result in Chinese companies being kicked off American exchanges if they … [Read more...] about Four Chinese state-owned companies to delist from NYSE

An officer from the New York City Police Department (NYPD) stands guard inside Trump Tower, after former U.S. President Donald Trump said that FBI agents raided his Mar-a-Lago home in Palm Beach, Florida, in Manhattan, New York City, New York, U.S., August 12, 2022. REUTERS/Andrew Kelly FBI agents who searched former President Donald Trump’s Mar-a-Lago home in Florida this week removed 11 sets of classified documents including some marked as “top secret”, the U.S. Justice Department said Friday while also disclosing it has probable cause to believe he violated the Espionage Act. The bombshell disclosures were made in legal documents released four days after FBI agents carried out the search of Trump’s residence based on a warrant approved by a federal magistrate judge. The Justice Department told U.S. Magistrate Judge Bruce Reinhart in its warrant application that it had probable cause to believe that Trump violated the Espionage Act, a federal law that prohibits the possession … [Read more...] about FBI removed ‘top secret’ documents from Trump’s home, US gov’t says

Set aside a small sum of money every month for investing in equities when you get your salary. As Indian citizens, we are glad to live in a free country. But often, we take our freedom for granted, especially when it comes to financial freedom. Money here today might be gone tomorrow. That’s why it’s important to be financially free, especially if you’re starting your investment journey at a young age. If you are in your 20s , or even in your 30s , on your first, second or even third job, and are just embarking on your financial journey, here are some handy tips to make sure you become financially independent. Also read | How women in their first job can take control of their money Invest in equities Set aside a small sum of money every month for investing in equities when you get your salary. Maher Dhamodiwala, founder of Financial Artists, a Mumbai-based financial planning firm, says that at a young age when liabilities are low or zilch, people should … [Read more...] about Just started working? Here’s how to become financially independent

- A + A (Aug 12): Wall Street's main indexes rose on Friday, setting the S&P 500 and the Nasdaq for a fourth straight week of gains on increasing evidence that inflation may have peaked. The S&P 500 is up 16.8% from its mid-June low, with the latest boost coming from a slower-than-expected rise in consumer prices and a surprise drop in producer prices in July. The benchmark index crossed a closely watched technical level of 4,231 points, indicating it has recovered 50% of its bear market loss. It was headed for fourth straight week of gains, its best performance since November 2021. "We're seeing a market that is focusing on inflation peaking and so the rally is continuing, although volume is rather light," said Peter Cardillo, chief market economist at Spartan Capital Securities. "Investors are becoming more optimistic in terms of the Fed not being as aggressive as the market previously had expected." While policymakers remain firm about a further … [Read more...] about Wall St set for weekly gains on signs of cooling inflation

- A + A NEW YORK (Aug 12): Wall Street closed higher on Friday (Aug 12) as signs that inflation may have peaked in July increased investor confidence that a bull market could be under way and spurred the S&P 500 and the Nasdaq to post their fourth straight week of gains. The S&P 500 is up 17.7% from a mid-June low, with the latest gains coming from data this week showing a slower-than-expected rise in the consumer price index and a surprise drop in producer prices last month. The S&P 500 crossed a closely watched technical level of 4,231 points, indicating the benchmark index has recouped half its losses since tumbling from the all-time peak in January. A 50% retracement for some signals a bull market. "It's really just a number, but it certainly makes investors feel better — at least those who bought near the bottom," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "I wouldn't declare victory over this bear market … [Read more...] about S&P 500, Nasdaq close up for fourth straight week as optimism grows

- A + A KYIV (Aug 12): Ukraine and Russia accused each other on Friday of risking nuclear disaster by shelling Europe's largest nuclear power plant, occupied by Russian forces in a region expected to become one of the next big front lines of the war. Western countries have called for Moscow to withdraw its troops from the Zaporizhzhia nuclear power plant, and the United Nations called on Thursday for it to be declared a demilitarised zone. But there has been no sign so far of Russia agreeing to move its troops out of the facility they seized in March. The plant dominates the south bank of a vast reservoir on the Dnipro river that cuts across southern Ukraine. Ukrainian forces controlling the towns and cities on the opposite bank have come under intense bombardment from the Russian-held side. Three civilians, including a boy, were wounded in overnight shelling of one of those towns, Marhanets, Valentyn Reznichenko, governor of the Dnipropetrovsk region, said in the … [Read more...] about Ukraine, Russia trade blame for risk of nuclear disaster at frontline plant

Share to Twitter Share to Linkedin Social Security just upgraded its website in several very valuable ways. But the site still suggests you can accurately calculate your benefits using Social Security's calculators. Not true. For several clear reasons, those calculators aren't good enough even for government work. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. Like most of us, I just received an email from the Social Security Administration (SSA) entitled "What's New With My Social Security." It announces improvements in ssa.gov , including the ability to update our phone number, address, and bank account online. That's terrific and long overdue. But the best improvement is providing current beneficiaries access to their full covered earning histories. Beneficiaries need this information to understand if additional earnings will raise their monthly and, thus, lifetime … [Read more...] about Social Security Just Emailed Us About Their Website Upgrade? Here’s What They Didn’t Say