Political/General News

Opinion: Opinion: High debts and stagflation will bring mother of all financial crises

NEW YORK (Project Syndicate)—The world economy is lurching toward an unprecedented confluence of economic, financial, and debt crises, following the explosion of deficits, borrowing, and leverage in recent decades. In the private sector, the mountain of debt includes that of households (such as mortgages, credit cards, auto loans, student loans, personal loans), businesses and corporations …

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British Police Raid London Home of Russian Oligarch, Seizing Cash and Devices

British police arrested a wealthy Russian businessman at his upscale London home, officials said Saturday, amid stepped-up pressure by the UK on Russian emigrants suspected of aiding the rule of President Vladimir Putin. The UK’s National Crime Agency said more than 50 of its officers took part in the raid, seizing cash and digital devices. …

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From CNN to Paramount, Perfect Storm in Media Propels Layoffs

An advertising slowdown, economic worries and strains of the shift to streaming have many major media companies in cost-cutting and layoff mode. News organizations, TV networks, movie and television studios, and entertainment giants laid off hundreds of workers over the past week alone, including Warner Bros. Discovery Inc.’s WBD -0.69% CNN and Paramount Global PARA …

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Four Ways to Save Money on Home Insurance as Rates Rise

Homeowners had to shell out more money for mortgage payments, routine maintenance and heating costs this year as rapid inflation and rising interest rates strained monthly budgets. One more bigger bill to add to that list: home insurance. Home insurance premium rates rose 9.3% from Jan. 1, 2021, through Nov. 25 on average nationwide, according …

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Here’s how to rent a sustainable Christmas tree for the greenest holiday ever and what retail and warehousing jobs falling in November reveals about the typical holiday shopper

Hi, MarketWatchers. Don’t miss these top stories. Greenest holiday ever? Here’s how to rent a sustainable Christmas tree There are ways to make ‘greener’ choices with your holiday evergreen. Read More Retail and warehousing jobs actually fell in November. It reveals a lot about the typical holiday shopper. Month to month, retail employment declined 30,000, …

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November Employment Report Shows US Economy Added 263,000 Jobs

The November payrolls gains compared with an upwardly revised 284,000 jobs in October, the Labor Department said Friday. Payrolls grew up in leisure and hospitality, healthcare and government. Retailers and transportation-and-warehousing companies cut jobs in a sign of weak holiday hiring. Average hourly earnings grew 5.1% in November from a year earlier, the department said. …

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Turns out a real estate guru peddling the ‘deal of a lifetime’ was really a fraud and hurricane season’s late start made for an average year but a big insurance bill

Hi, MarketWatchers. Don’t miss these top stories. Turns out a real estate guru peddling the ‘deal of a lifetime’ was really a fraud, prosecutors say Matthew Onofrio claimed he’d cracked the code on commercial real estate, but is accused of fleecing inexperienced investors and banks. Read More I’m a new mother, and can’t afford to …

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Austan Goolsbee Named Next President of the Chicago Fed

Austan Goolsbee, who served as a top economic adviser to former President Barack Obama, will become the next president and chief executive of the Federal Reserve Bank of Chicago, the bank said Thursday. Mr. Goolsbee, 53, is a professor of economics at the University of Chicago’s Booth School of Business. He was chair of the …

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US Jobless Claims Fell Last Week, Showing Solid Labor Market

Applications for US unemployment benefits fell last week, consistent with a labor market that remains resilient despite signs of a broader economic slowdown. Initial jobless claims, a proxy for layoffs, decreased by 16,000 to a seasonally adjusted 225,000 last week, the Labor Department said Thursday. That was near the 2019 weekly average of around 218,000, …

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