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Latest 24 Hour Economy News
Source: Common Domain

Ron Paul: Stocks may get chopped in half within a year, but it won’t be Trump’s fault

Today 09:01 GMT

Last month, libertarian and multiple campaigner for president Ron Paul made headlines with his gloomy prediction that the stock market, plagued by an overrated recovery for the U.S. economy, could plunge 25% by October.

Paul isn’t jumping on the increasingly crowded anti-Trump bandwagon, as least as the president pertains to what’s happening in the stock market. That kind of damage would bring the S&P SPX, -0.18%  down to 1,212 and the Dow Jones Industrial Average DJIA, -0.35% to 10,837.

Source: Fox News

Mnuchin pushes clean debt ceiling increase in latest plea for 'prompt' Congressional action

Today 09:01 GMT

U.S. Treasury Secretary Steven Mnuchin addressed the urgent need for lawmakers to raise the debt limit promptly when they return from recess during a speech in Kentucky on Monday, strongly communicating his proclivity for a “clean” bill passed without spending reforms attached. “Come the end of September my magic, super Treasury powers will run out and we need to raise the debt limit,” Mnuchin said.

Source: Common Domain

Dollar dips after data, while investors await cues from Jackson Hole Fed gathering

Today 09:01 GMT

The U.S. dollar fell against its major rivals on Monday as investors trained their attention on political tensions, including a refocus on drama in the Korean Peninsula and positioning ahead of a symposium of global central bankers in Jackson Hole, Wyo.

The single currency could become too strong for the ECB’s liking but we doubt that policy makers will be able to pull it back,” wrote Steve Barrow, head of currency strategy at Standard Bank, in a note.

Source: CBS News

Staying home to parent can cost more than just salary

Today 09:01 GMT

"If the cost of child care is going to eat up my entire salary, then it might make more sense for me to just continue to stay home with her," An told CBS Los Angeles' Danielle Nottingham.

When a parent takes a break from working, the time spent not pulling a salary also impacts retirement savings and future pay growth. It could also result in lower Social Security benefits, which can have particularly negative repercussions for lower-income workers.

Source: Common Domain

Finance Chiefs Look to Free Up Working Capital Ahead of Rate Increases

Today 09:01 GMT

Finance chiefs in the U.S. are shrinking the time it takes to convert trillions tied up in their businesses into tangible cash, while some of their European counterparts struggle to do the same.

The 1,000 largest U.S. public companies reduced the number of days it took to convert working capital into cash received from customers to 35.7 days in 2016 from 37.1 a year earlier, according to a study by The Hackett Group Inc., HCKT 0.07% a consulting firm.

Source: CBS News

Investors again face conundrum: To bail or to buy?

Today 09:01 GMT

He reminds us that bull markets are usually crushed by recessions —and there isn't any sign, Stovall said, that there is one on the horizon.

As a reminder to investors, the "buy the dips" in past market slumps worked well for those who were opportunistic enough to do so. Byron Wein, vice chairman of investment firm Blackstone, which has more than $371 billion in assets under management, said it best, succinctly, when he summed up his view on this latest investor concern: "Nothing to panic about."

Source: The Week

Americans are hoarding their money

Today 09:01 GMT

Financial advisors tell us to save money for various reasons — save for an emergency fund, save up for a down payment on your home, save for retirement, save for your children's college educations — but is it possible for savings to go too far, and does it matter how you save?

Retirees are especially prone to hoarding cash, according to a study by financial planning software company United Income.

Source: Common Domain

Stock prices look attractive now — compared to bonds

Today 09:01 GMT

However, interest rates affect stock prices directly, regardless of what is going on in the economy, the very same way that interest rates affect bond prices, because, as Warren Buffett pointed out, stocks are disguised bonds.

Gary Smith is the Fletcher Jones Professor of Economics at Pomona College and author of “Money Machine: The Surprisingly Simple Power of Value Investing.”

Source: CBS News

Cannabis companies eager to take growing biz to the bank

Today 09:01 GMT

Any private U.S. bank that is insured by the federal government is forbidden by law from knowingly handling money from cannabis businesses.

By contrast, a state bank authorized to do business with cannabis companies would be owned by the public and run by local government officials.

Source: BBC

Co-operative Group's stake in Co-op bank to fall to 1%

Today 09:01 GMT

The Co-operative Group will be left with only a tiny stake in the Co-op Bank after shareholders approved a £700m rescue package on Monday.

"There's every indication that the hedge funds - who are only going to be there for a while - understand that the commercial survival of the bank very much relies not only on talking the talk on ethics, but walking the walk as well," he told BBC Radio 5 live. Mr Fensom said the bank arguably would not "stand a chance" if it lost its reputation for ethical business.

Source: Washington Post

McConnell says there is zero chance’ Congress will fail to raise debt ceiling

Today 09:00 GMT

No chance” Congress would fail to raise the debt ceiling by late September, although he offered no clues about how he hoped to persuade lawmakers to back such a measure.

McConnell spoke during a public event in Kentucky with Treasury Secretary Steven Mnuchin, who minutes before had implored Congress to focus immediately on raising the debt ceiling when members return to Washington after Labor Day.

Source: Common Domain

Speculators haven’t been this bullish on gold since October

Today 09:01 GMT

Gold remained a hot commodity last week, with speculative investors such as hedge funds and money managers increasing their holdings in the haven metal for a fifth straight week.

The metal inched 0.2% lower last week, but has risen in four out of the past six weeks to trade around a two-month high.

Source: Common Domain

New Thinking About Reverse Mortgages

Today 09:00 GMT

Appeared in the February 13, 2017, print edition as 'New Thinking About an Old Tool.'. Younger retirees may benefit from using reverse-mortgage lines of credit as interest rates rise

Interest rates are low, which increases the credit limit on reverse mortgages, she notes, and if rates rise over the life of the loan, that will add to the growth of the credit line. Since interest rates tend to rise alongside inflation, the growing line of credit would provide an inflation hedge, she says.

Source: Common Domain

More Reasons Why Adidas Will Stay Dominant

Today 09:00 GMT

For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

5. Companies that sell sneakers have been mentioning Adidas more often on their conference calls, showing they’re more reliant on Adidas. Big Picture: More stats show that Adidas’ resurgence isn’t a temporary trend, and that poses problems for Nike.

Source: Global News

5 money tips every college student should know

Today 09:00 GMT

Expert tips on budgeting and managing student debt. Every post-secondary student should have a bank account, know how to perform an Interac e-transfer and, especially if moving far away from home, send money through a wire transfer, said Farwell.

Minor damage to credit scores can be patched up relatively quickly and well before life’s big expenses come along, Farwell noted.

Source: Washington Post

That brutal, bizarre Chicago murder case began with sex and suicide fantasies, prosecutors say

Monday 11:46 GMT
Source: Common Domain

16-member White House arts committee is latest group to quit Trump

Sunday 15:26 GMT
Source: New York Times

Stocks Drop as Attacks in Spain Push Investors to Safe Havens

Saturday 13:35 GMT
Source: Common Domain

Cyberattack cost Maersk as much as $300 million and disrupted operations for 2 weeks

Saturday 09:55 GMT
Source: The Guradian

Brooklyn's social housing microgrid rewrites relationships with utility companies

Thursday 09:56 GMT
Source: Common Domain

Dodgers rookie Cody Bellinger gets day off after spraining ankle

Sunday 20:00 GMT
Source: Washington Post

Ed Gillespie’s latest Trump headache is happening in his own backyard

Friday 22:47 GMT
Source: Common Domain

Finance Chiefs Look to Free Up Working Capital Ahead of Rate Increases

Today 09:01 GMT
Source: Washington Post

Treasury secretary’s wife boasts of travel on government plane, touts Hermes and Valentino fashion

Today 09:01 GMT
Source: Common Domain

Amazon says new accounting rule will change when it recognizes sales of its devices

Today 09:00 GMT
Source: Common Domain

A 19th Century Swiss Chateau Uniquely Located On Lake Geneva

Today 09:01 GMT
Source: Common Domain

Target revises reporting, after SEC calls out non-GAAP gross margin

Today 09:00 GMT
Source: Global News

Contact sports can alter the brains of even young, healthy athletes: study

Today 09:01 GMT
Source: Common Domain

Stock prices look attractive now — compared to bonds

Today 09:01 GMT

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte