NEW YORK FEDS GLOBAL
US-listed crypto stocks retreat following Trump-fueled spike
Bitcoin's price drop after hitting $70,000 led to a decline in shares of New York-listed crypto firms. Earlier, these stocks had risen due to Donald Trump's favorable speech on cryptocurrency regulation. His promises were celebrated, though analysts urged caution. The volatility of bitcoin remains a concern, as noted by the SEC.
Do we have less than five years to save humanity from catastrophe? Climate Clock is tickling like nuclear bomb. Details here
The Climate Clock is an 80-foot-wide digital clock installed on the facade of a building on East 14th Street overlooking Union Square Park in Manhattan New York.
Fed rate cut not likely next week, but possible in September: Peter Cardillo
Peter Cardillo from Spartan Capital Securities pointed out that China's economic struggles might lead to an unexpected half-percent rate cut by the Fed in September. Despite soft tech earnings from Alphabet and Tesla, the overall market showed strong performance, driven by a 2.8% GDP growth and consumer spending amid lower inflation.
What Rupert Murdoch owns, and how he built his media empire
Rupert Murdoch, now in a legal battle with his children, spent seven decades building a media empire, including Fox News and The Wall Street Journal. His tenure included numerous acquisitions and controversies, like the 2011 phone-hacking scandal and allegations of spreading falsehoods about the 2020 U.S. election. Recently, he handed control to Lachlan Murdoch.
Spider-Noir: Here’s latest updates about plot, production team and cast of Amazon's Marvel Series
Li Jun Li joins Nicolas Cage in Spider-Noir, a new series based on Spider-Man Noir. The series, set in 1930s New York, follows a private investigator who was once the city's superhero. It will debut on MGM+ and Prime Video.
Fed's Williams suggests rate cut could be warranted in coming months, WSJ reports
Federal Reserve NY President John Williams indicated a potential interest rate cut in the next few months, excluding the July 30-31 meeting, reported by WSJ. Williams cited recent positive disinflationary data but stressed the need for more evidence to ensure confidence in achieving the Federal Reserve’s 2% inflation target and dismissed concerns about the difficulty of reaching it.
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Amazon's Spider-Man Noir Series: See cast, plot, characters and production team
Brendan Gleeson joins Amazon's Spider-Man Noir series, "Spider-Noir," with Nicolas Cage and Lamorne Morris. The series, debuting on MGM+ and Amazon Prime Video, follows an aging private investigator in 1930s New York who confronts his past as the city's superhero.
Humans on Venus and mass destruction in coming years: Here're Baba Vanga's predictions for the near future
Baba Vanga, a blind Bulgarian mystic, captivated the world with her prophecies, including the 9/11 attacks. Known as the 'Nostradamus of the Balkans,' she predicted significant future events up to the year 5079, such as major conflicts in Europe, climate crises, extraterrestrial contact, and the end of the world. Her detailed predictions continue to intrigue and provoke discussion.
Some way to go before reaching US inflation target, says New York Fed’s Williams
Inflation in the US has decreased from its pandemic-era highs, but more efforts are necessary to bring consumer prices down to the desired level, said John Williams, president and CEO of the Federal Reserve Bank of New York. Speaking on Friday at the Reserve Bank of India, Williams addressed global market speculations about when interest rates might be lowered in the world's largest economy.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Indian equities surge with Nifty crossing 24300 and Sensex breaching 80000. Tech view sets 24900 as the next target. Dollar weakens, oil prices fall, and rupee settles lower. FII net long increases to Rs 3.78 lakh crore. DIIs buy shares worth Rs 924 crore.
Will World War III start today or on June 29? Here's what 'Indian Nostradamus' predicts
Astrologer Kushal Kumar, known for accurate predictions, forecasts World War III to begin around June 18 or 29 based on Vedic astrology. Recent global tensions, including conflicts in Israel and Russia's military actions, add credibility to his prediction. Drawing comparisons to Nostradamus, Kumar aligns with the French astrologer's visions for 2024, including a "naval battle" involving a "red adversary," possibly China. While skepticism exists, Kumar's prophecy sparks debate on astrology's role in predicting global events.
New York recovers $50 million for defrauded Gemini Earn crypto investors
NY AG Letitia James recovers $50 million from Gemini Trust to repay investors in Gemini Earn program, run by Winklevoss twins. Gemini to provide full recoveries to 230,000+ investors, ban on crypto lending programs in NY.
Dollar or other currencies? How the US is daring the world to find a dollar alternative
The United States is challenging its own foundations as the world's reserve currency with attacks on the legal system following Donald Trump's conviction. Despite growing consternation, no credible alternative has emerged. The dollar's dominance stems from U.S. democratic principles, but threats loom as sanctions and political turmoil test its credibility.
India-Pakistan match at fever pitch as New York’s game for more; city set to reap economic benefits of over $78m
The India versus Pakistan match in the T20 World Cup is expected to have a net economic impact of over $78 million for New York city, with thousands of cricket fans in attendance. The match in Long Island is expected to bring $46 million in direct economic benefits and $32 million in indirect economic benefits to the city, according to a report by global economic consultant Anderson Economic Group LLC (AEG).
Major League Cricket selects Remitly as signature partner
Major League Cricket (MLC) has partnered with digital financial services provider Remitly as a Signature Partner for the league's second season. The partnership is a significant milestone as MLC prepares for the tournament's return on July 5 in Morrisville, NC and Grand Prairie, TX. Remitly's digitally native, cross-border payments app will launch exclusive promotions to celebrate MLC fans, including discounts on international money transfers and special offers during the season.
Accenture inks three-year sponsorship deal with MI New York
Accenture has partnered with MI New York, the Major League Cricket Champions, to enhance performance on and off the field using digital services and consulting expertise. The partnership includes displaying the Accenture logo on MI New York jerseys.
US Fed's favored inflation measure remains unchanged in April
The US Federal Reserve's key inflation gauge, the PCE price index, remained steady in April, indicating that interest rates are likely to stay high throughout the summer. Services prices, a major factor, remained elevated. The current inflation trend reduces the likelihood of early rate cuts and complicates President Joe Biden's reelection message on the economy. Despite expectations of moderating inflation later in the year, Fed officials, like New York Fed President John Williams, see no urgency in changing policy now. Personal income eased slightly in April, with personal savings remaining steady.
Dollar firms against peers ahead of inflation test
The dollar steadied against peer currencies on Friday after a downward revision to U.S. GDP for the first quarter suggested room for the Federal Reserve to cut interest rates this year, while investors braced for a key inflation report.
Fed officials see inflation falling, signal no rush to cut rates
Federal Reserve's John Williams believes monetary policy is restrictive, aiming to bring inflation down to the 2% target.
Dollar regroups before inflation test; yen brushes off Tokyo CPI
Market expectations of rate cuts increased to 55% for September. Traders awaited the release of the PCE price index for insights on interest rate cuts. Dollar weakened due to softer inflation data.
Fed's Williams says he doesn't feel urgency to cut rates right now
Williams stated that the economy's behavior over the past year provides ample evidence that monetary policy is restrictive in a way that helps achieve their goals. He made these remarks in the text of a speech prepared for delivery before a gathering of the Economic Club of New York.
India-Pakistan T20 World Cup match: ISIS-linked outfit threatens attack, New York on high alert
New York will increase security for the T20 Cricket World Cup, especially for the India-Pakistan match in June, due to potential threats. Governor Kathy Hochul announced on X that state, federal, and local law enforcement are collaborating to ensure safety, with no credible threat currently identified. The India-Pakistan game is on June 9 at Eisenhower Park, Nassau County., New York
From Tokyo to New York, stock markets are on a record-hitting spree around the world
Equity markets worldwide are experiencing highs. In the US, the S&P 500 and Nasdaq 100 indexes hit records this week, while the Dow Jones Industrial Average crossed 40,000 for the first time ever. Meanwhile, the biggest bourses in Europe, Canada, Brazil, India, Japan and Australia are currently at or near their peaks.
Gold rallies on rate cut expectations amid US economy slowdown
Spot gold rose on Friday despite US inflation data, anticipating rate cuts amid a weakening US economy. US CPI and PPI Final demand were below forecasts. US Fed Chair Powell remains optimistic about inflation. US Philadelphia Fed business outlook was below expectations. Fed officials hold varying views on rate adjustments.
Asian stocks ease on uncertainty over timing of U.S. rate cuts
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.14% after touching a two-year high on Thursday. The index was still set for an increase of 2.6% this week for its fourth straight week of gains.
Fed remains cautious on cuts even as data improves
"I don't see any indicators now telling me ... there's a reason to change the stance of monetary policy now," Williams said in an interview with Reuters, adding that he did not expect the case for a rate cut to fall into place "in the very near term."
Asian shares hit 15-month high as traders wait for CPI
MSCI's broadest index of Asia-Pacific shares outside Japan climbed slightly and hit its highest since early 2023 in morning trade, as a strong rally in Hong Kong shares extended into a fourth consecutive week.
Shein steps up London IPO preparations amid US hurdles to listing
Shein pivots to a London IPO from New York, facing U.S. regulatory challenges. The online retailer, valued at $66 billion, navigates hurdles with plans for a dual U.S. listing post-London float, monitoring the political climate.
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