CashNews.co FedEx downgraded its profit outlook, citing weak demand after it reported lower sales and earnings than expected last quarter. The company brought down the top end of its full-year projection for earnings per share. It expects between $20 and $21 per share, down from $20-$22 per share. It also lowered its expected revenue growth […]
CashNews.co Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters Stocks jumped Thursday, with the Dow Jones Industrial Average and S&P 500 rising to new all-time highs, as traders cheered the Federal Reserve’s Wednesday decision to lower interest rates by a half percentage point. The 30-stock index advanced 522.09 […]
Cash News Wyoming-based Custodia Bank argued Wednesday that the Federal Reserve Board has made misrepresentations about Custodia’s crypto-friendly business model to prevent the state-chartered bank from accessing payment and settlement systems. In a 39-page briefCustodia argued that winning its appeals case would not allow any depository institution to tap the Fed’s systems, nor would it […]
CashNews.co File photo. “Public enemy – A Greek Tragedy” is the title of a new documentary about the 2010 Greek financial crisis that depicts Greece as an ideological victim of European Union forces punishing the country with austerity measures. Directed by Elisa Madden and opening in UK cinemas on September 25, the documentary features the […]
CashNews.co A workshop that aims at creating awareness on warehouse receipt financing to agro-processing companies working in Integrated Agro Industrial Parks in Ethiopia was held today in Addis Ababa. Warehouse receipts are used to facilitate the financing of primary agriculture, agricultural trade and food processing. By storing grain or other agricultural commodities in licensed warehouses, […]
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Cash News So, as it stands, advisors are not meeting client needs. This will leave clients under-allocated at a time when the asset is still experiencing outperformance relative to traditional assets. The opportunity cost of forgoing significant alpha could significantly impair client performance over the long run. It is crucial for advisors to realize the […]
CashNews.co The Federal Reserve’s first key interest rate cut in four years coincides with another major four-year event: the homestretch of the presidential election. Fed Chair Jerome Powell downplayed the central bank’s role in the race between Vice President Kamala Harris and former President Donald Trump on Wednesday, in announcing the half-percentage point cut in […]
Cash News MIAMI – FBI agents arrested a South Florida man after accusing him of conspiring to steal and launder more than $230 million in cryptocurrency. Malone Lam, 20, a Singaporean national who splits time between Miami and Los Angeles, appeared in federal court on Thursday, federal prosecutors in Washington, D.C. announced. So too did […]
CashNews.co Trade body UK Finance has called on Labour to make it so first-time buyers don’t pay stamp duty on the first £425,000 of purchases permanently. As it stands the minimum rate of stamp duty is set to revert back to £250,000 at the end of March 2025, while Labour didn’t mention it in its […]