Commentary In 1796, the first U.S. President George Washington gave an impassioned farewell address. It summed up what he hoped would be U.S. foreign policy as regards both economics and wars. “The great rule of conduct for us in regard to foreign nations,” he said, “is in extending our commercial relations, to have with them…
Wall Street Rises at Open as Investors Assess Bank Earnings
Wall Street’s main indexes opened marginally higher on Wednesday as investors digested Goldman Sachs second-quarter results and assessed strong earnings from a number of smaller banks. The Dow Jones Industrial Average rose 39.28 points, or 0.11 percent, at the open to 34,991.21. The S&P 500 opened higher by 8.89 points, or 0.20 percent, at 4,563.87,…
The Secrets of Successful Financial Planning: Inside Tips From an Expert (Part 4.1)
July 19, 2023
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Make New Savings Very Aggressive, and Existing Assets Well Diversified The first secret to be shared here is that your investment portfolio’s asset allocation is always recommended by these programs and advisors to be the same for new contributions to savings as for existing lumps you have at risk. I strongly recommend that new qualified…
US Farmers in Midwest Forced to Dump Excess Milk Amid Waning Demand, Oversupply: Report
Farmers across the U.S. upper Midwest are being forced to dump their supplies of excess milk as facilities struggle to find space to store it as demand wanes, according to multiple reports. Demand for milk across the upper Midwest is down 20 percent this year, according to NewsNation. However, farmers still need to milk cows regularly, otherwise…
Robocall Scams: FTC Targets Telemarketing Fraudsters in New Operation
The U.S. Federal Trade Commission (FTC) has announced a nationwide operation targeting illegal telemarketing calls as well as taking action against activities that employ deceptive tactics to collect people’s phone numbers. “We are taking action against those who trick people into phony consent to receive these calls and those who make it easy and cheap…
US Corporate Debt Defaults in 2023 Surpass Last Year’s Total: Moody’s
July 19, 2023
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The total amount of corporate debt defaults in the United States this year have already exceeded the amount seen in 2022. Experts have been warning of a wave of defaults to hit the economy for some time due to higher borrowing rates. At least fifty-five American-based companies defaulted on their loans in the first half…
US Retail Sales Rise Moderately; Economy Plodding Along
WASHINGTON—U.S. retail sales rose less than expected in June as receipts at service stations and building material stores declined, but consumers boosted or maintained spending elsewhere, which likely kept the economy on a solid growth path in the second quarter. Overall, the mixed report from the Commerce Department on Tuesday painted a picture of consumer…
Israeli-Owned Spyware Firms Blacklisted by US Commerce Department Over National Security Risks
July 19, 2023
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The U.S. Commerce Department has placed two European-based Israeli-owned spyware companies on its trade blacklist, citing national security concerns. Intellexa S.A. in Greece and its entity Intellexa Limited in Ireland, and Cytrox AD in North Macedonia, along with its entity Cytrox Holdings Crt in Hungary, were added to the technology export blacklist, the Commerce Department…
Pound Slides After Cooler Inflation Data, Yen Under Pressure Again
LONDON/SINGAPORE—Sterling slid on Wednesday after lower-than-expected British inflation data suggested the Bank of England might not have to raise rates quite as high as expected, while the latest dovish comments from the Bank of Japan caused the yen to soften. The pound dropped as much as 0.8 percent against the dollar to $1.2931, and also…
Cosmetics Giant Estee Lauder Hacked, Disrupting Business Operations
A hacker was able to gain access to cosmetics company Estee Lauder’s internal system, prompting the makeup and beauty giant to launch an investigation into the incident, it announced on July 18. In a statement, the New York-headquartered company said it had identified the cybersecurity incident, which involved an “unauthorized third party that has gained access to some…
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