Top investors at the annual Milken conference have warned of more economic pain to come after the collapse of First Republic Bank. Attendees at the conference said that the third seizure of a U.S. regional bank by the Federal Deposit Insurance Corporation (FDIC) since March is threatening to constrain credit and accelerate the path toward…
Investors Warn of More Economic Pain to Come After First Republic Failure
May 2, 2023
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UK Housing Market Sees ‘Signs of a Recovery’ After 7 Consecutive Falls
April saw a 0.5 percent rise in house prices in Britain, in the first surge since August 2022. However, financial experts have argued that Britons should expect a “fairly pedestrian” upturn in the housing market, if any, owing to the ongoing imbalance between low wages and rising inflation. Nationwide Building Society, a British mutual financial…
UK Food Prices Soared 15.7 Percent in April but Predicted to Fall in Coming Months
Food inflation in the UK reached 15.7 percent in April, the highest on record, but business experts say food prices should begin to fall in the coming months. According to the latest BRC-NielsenIQ shop price index, food inflation rose to 15.7 percent last month from 15 percent in March. The inflation was even higher for…
Consumers Upset by Food Prices as Inflation Becomes ‘Frustratingly Elevated’: Woolworths Boss
Consumers are becoming increasingly frustrated with the soaring food prices and interest rates, Australia’s largest supermarket chain says. Woolworths Chief Executive Brad Banducci said there are signs of overall inflation moderate in food, while inflation in many areas has been stubbornly elevated. He said the group needed to continue working hard to provide customers with value….
American Airlines Pilots Vote to Strike, Southwest Pilots May Follow
After the American Airlines pilots union voted overwhelmingly in favor of a strike on Monday, Southwest pilots also began casting strike-authorization votes the same day. It comes despite American Airlines stating that it is close to resolving disputed contract issues with its 15,000 pilots. The outcome of the Southwest Airlines Pilots Association (SWAPA) vote will be revealed after…
Regional Bank Shares Take Beating After First Republic Collapses
May 1, 2023
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U.S. regional bank shares took a beating after the collapse of First Republic and its takeover by JP Morgan Chase & Co. The Federal Deposit Insurance Corporation (FDIC) seized First Republic Bank in the second-largest bank failure in American history in what is also the third regional bank to fail this year. Shares of several…
More Americans Turning to Buy Now, Pay Later Apps for Everyday Buys: Survey
Americans are increasingly turning to buy now, pay later (BNPL) apps to purchase their daily needs amid sky-high inflation, according to a new survey. BNPL options allow consumers to pay for purchases in installments. A new LendingTree survey shows that about 46 percent of consumers used BNPL this year, up from 43 percent a year ago…
Cash Use Rises as Households Struggle to Cope With High Inflation
Cash payments have made a comeback as households struggle to cope with high inflation, according to a new study. After decades of falling cash use, the impact of the rapid inflation growth has been reversing the trend toward digital. Credit Karma and The Harris Poll conducted a survey last month, which showed that 53 percent of…
IN-DEPTH: States Fight ESG Industry, Despite Costs and Long Odds
April 29, 2023
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As conservative states push back against the progressive agenda of Wall Street banks and asset managers, some analysts are warning that “anti-ESG” states will pay a price for taking on Wall Street and the ESG industry. North Carolina State Treasurer Dale Folwell has enacted several measures, including calling on Larry Fink, CEO of BlackRock, the…
Inflation, Net Zero, and the Bank of England
Commentary “What a banker,” read the unsubtle headline in The Sun. “BoE official on £190k salary says Brits must accept they’re worse off.” The Mail agreed. “BoE chief risks fury as he says Brits must accept they are poorer.” What sparked the tabloids’ outrage was a Columbia Law School podcast with Huw Pill, the Bank of England’s chief economist and a member…
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