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Latest 24 Hour Economy News
Source: Global News

If college admissions scandal parents admit responsibility, they may avoid prison time: experts

Today 09:55 GMT

Lori Loughlin and daughter Olivia Jade lose endorsement deals after college admission scandal. “If the parents are well represented, it is reasonable to expect that possibly none will go to jail,” said former federal prosecutor Jacob Frenkel. “These are not the type of offences for which judges exercising their discretion would normally put people in jail,” he said.

Montrealer identified as alleged informant in U.S. college bribery scandal. The parents are charged with conspiracy to commit mail fraud and honest services mail fraud, a count that carries up to 20 years in prison, although defendants, especially first-time offenders, typically get far less than that.

Source: Fox News

Trump's booming economy has 2020 Dems struggling to find negative spin

Today 09:55 GMT

Have claimed in some form that the workers are struggling in the economy that has so far defied odds with a record-low unemployment rate.

Yet 2020 Democrats appear to have learned from the episode avoid directly linking people holding more than one job to the low unemployment rate.

Source: Common Domain

Future Returns: What Would the Green New Deal Mean to Investors?

Today 09:55 GMT

Senate Republicans are expected to bring The Green New Deal—proposed by New York Democratic Rep. Alexandria Ocasio-Cortez and Massachusetts Democratic Sen. Ed Markey—up for a vote the week of March 25, when the Senate returns from its one-week recess.

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

Source: BBC

Google hit with €1.5bn fine from EU

Today 09:55 GMT

Last year, the EU competition authority hit Google with a record €4.34bn fine for using its popular Android mobile operating system to block rivals.

From 2009, Google started replacing the exclusivity clauses with "premium placement" clauses, which meant publishers had to keep the most profitable space on their search results pages for Google's adverts and they had to request a minimum number of Google adverts. Publishers also needed to get written permission from Google before making any changes to how rival ads were displayed, letting Google control "how attractive, and therefore clicked on, competing search adverts could be", the Commission said.

Source: Common Domain

U.K. Property Prices Rising at Slowest Rate in Almost Six Years

Today 09:55 GMT

U.K. property prices grew at their slowest level in nearly six years in January, according to government statistics released Wednesday.

Prices grew just 1.7% in the year to January, the lowest level of annual growth logged since June 2013, when house prices increased 1.5%, the report said. The rise brings the average home price nationwide to £228,147 (US$301,343), according to the index published by HM Land Registry, the U.K. government’s Office for National Statistics and other U.K. government statistics agencies.

Source: Reuters

China to cut coal from new green bond standards: sources

Today 09:55 GMT

China’s inclusion of “clean coal” in a 2015 central bank list of technologies eligible for green bonds has put the country at odds with global standards, a point of contention for some international investors and many environmental groups.

Of the $42.8 billion worth of green bonds issued in China last year, only $31.2 billion would have met global criteria, according to a report published at the end of February by the Climate Bonds Initiative (CBI), a non-profit group backing green bond standards.

Source: Common Domain

FedEx just fired off a warning investors may not be able to ignore

Today 09:55 GMT

If Fed Chairman Jerome Powell was looking for a cheerful global-growth anecdote ahead of its policy announcement Wednesday, FedEx results may come as a bitter disappointment.

Far for Wednesday, FedEx does not appear to be dampening the mood much for stocks, but that’s probably because investors are focused on the outcome of the Fed meeting and press conference with Powell later, where more dovish talk is expected.

Source: Common Domain

The Fed’s ‘dovish double-down’ has taken the most accurate recession indicator closer to flashing red

Today 09:56 GMT

A so-called yield curve inversion, where the rate of longer-dated debt falls beneath its shorter-dated counterparts, is widely viewed as an accurate recession indicator and the three-month and 10-year pair is the most closely followed by economists.

Even for a bond market bracing for an accommodative Federal Reserve, policy maker’s moves on Wednesday were a stunner, raising the specter of recession.

Source: DW

US Federal Reserve holds rates steady, cuts economic growth forecast

Today 09:55 GMT

President Donald Trump had called the December rate rise by the supposedly independent Federal Reserve wrong-headed, with suggestions he was contemplating trying to fire Chairman Jerome Powell , who had been his choice to lead the central bank.

In their statement on Wednesday after a two-day policy meeting, the policymakers said that given sluggish growth and continually mild inflation, the Fed "will be patient as it determines what future adjustments to make" to rates. Policymakers also saw slowdowns in the US and global economies saying that, while the job market remained strong, "growth of economic activity has slowed from its solid rate in the fourth quarter."

Source: Fox News

Citigroup to sell more than $1B in Venezuelan gold in blow to Maduro regime, reports say

Today 09:55 GMT

Citigroup Inc. plans to sell several tons of Venezuelan gold it received as collateral from the Maduro regime to settle the country’s $1.6 billion loan after the deadline to repurchase the precious metal expired earlier this month, reports said Wednesday.

A week later, Venezuelan officials reportedly planned to ship 20 tons of gold, worth around $850 million, overseas to protect the country’s hard assets amid international pressure mounting against Maduro to cede power.

Source: Common Domain

Even smart people make these money mistakes

Today 09:55 GMT

Schlesinger, a CBS News business analyst and author of “The Dumb Things Smart People Do With Their Money,” admits to financial missteps as well, including waiting for “just the right moment” to invest and missing a big jump in the stock market. “We’re emotional animals, not just rational ones,” Schlesinger says.

They can sell you an investment that costs more or performs worse than an alternative, simply because it puts more money in their pocket.

Source: Fox News

Cash-strapped R. Kelly seeks judge’s permission to fly to Dubai for concerts

Today 09:55 GMT

R&B singer R. Kelly asked a judge Wednesday to let him travel to the Middle East next month to perform a series of concerts as he scrambles to earn money to pay child support and legal fees, according to new court documents.

Kelly is looking to perform as many as five shows in Dubai, United Arab Emirates, all of which he claims were booked prior to his February arrest on sex abuse charges, according to a motion filed in Cook County Circuit Court in Illinois.

Source: Common Domain

When the U.S. falls into a recession, a credit bubble will explode

Today 08:04 GMT

The news comes shortly after the U.S. Federal Reserve gave in to the stock market and held off on further interest-rate increases.

Here’s a quote from my friend Peter Boockvar, chief investment officer of Bleakley Advisory Group, a $3.5 billion wealth-management firm, which drew an enormous amount of interest: “We no longer have business cycles; we have credit cycles.”

Source: BBC

Juncker criticised over 'freeports'

Wednesday 23:39 GMT

Jean-Claude Juncker has come under attack for dismissing concerns that controversial art storage facilities may be enabling money laundering.

Steps that would have been unthinkable just a few short years ago without the political will and drive of President Juncker himself."

Source: BBC

Jet Airways grounds planes as crisis grows

Today 04:14 GMT

The government has been asking state-run banks including SBI and Punjab National Bank (PNB) as well as the 49% state-owned National Investment and Infrastructure Fund (NIIF) to take at least a third of the airline until new buyer can be found, the news agency said.

On Tuesday, the National Aviators Guild warned the Jet Airways management that members would stop flying for the airline from 1 April if their salaries were not paid.

Source: Global News

Death toll rises to 64 after Zimbabwe hit by cyclone

Monday 07:08 GMT
Source: The Guradian

Rose McGowan: ‘Being sexually assaulted threw a wrench in my thinking'

Sunday 14:28 GMT
Source: Reuters

The curious case of tainted milk from a Maine dairy farm

Tuesday 17:15 GMT
Source: The Guradian

Warner Bros chairman-CEO resigns after sexual impropriety allegations

Monday 19:05 GMT
Source: Common Domain

Baselworld Preview: Three Retro Sport Watches Pair Performance with Vintage Flair

Monday 19:05 GMT
Source: Fox News

Nunes sues Twitter, some users, seeks over $250M alleging anti-conservative 'shadow bans,' smears

Monday 22:45 GMT
Source: The Guradian

Fantasy or transformation New York’s $25bn Hudson Yards set to open

Thursday 14:30 GMT
Source: Common Domain

U.K. Property Prices Rising at Slowest Rate in Almost Six Years

Today 09:55 GMT
Source: Global News

Federal budget makes it easier for working seniors to keep more of their money, get CPP

Wednesday 20:01 GMT
Source: Global News

Study finds rise in millennial perfectionism, parents and social media blamed

Wednesday 20:01 GMT
Source: Global News

Facebook to review ‘reporting logic’ after New Zealand shootings were streamed live

Today 09:55 GMT
Source: Fox News

Trump calls on UAW to lower workers' dues during visit to Lima, Ohio, tank plant

Today 09:55 GMT
Source: BBC

Social media 'changed the game' for poets

Today 09:55 GMT
Source: Fox News

Powerball $550M lottery jackpot: Here’s the tax damage

Wednesday 17:16 GMT

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