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1 Article
Source: The Guradian

3,121 desperate journeys: exposing a week of chaos under Trump's zero tolerance

Today 10:51 GMT

Thousands of documents analyzed by the Guardian provide the most comprehensive picture yet of what happened to immigrants prosecuted under the Trump administration's zero tolerance policyLlegaron a los Estados Unidos buscando una vida mejor pero terminaron encarcelados.

Even though José had no other criminal record, his “illegal re-entry” after a previous deportation triggered a felony prosecution under zero tolerance.

1 Article
Source: Reuters

Bear or bull Five reasons to claw or thunder

Today 10:51 GMT

A sharp pullback in stocks last week, including the S&P 500's .SPX biggest single-day drop since a market correction in February, has left investors questioning whether this could signal danger for the longest-ever bull run for U.S. equities.

IT’S THE ECONOMY, STUPID: Federal Reserve Chair Jerome Powell last week said the outlook for the U.S. economy is “remarkably positive,” and strategists are quick to note that it is rare to have a bear market when the economy is expanding. “When you don’t have a recession, typically pullbacks can be sharp, but they tend to be short,” said Brad McMillan, chief investment officer for Commonwealth Financial Network in Waltham, Massachusetts.

1 Article
Source: Common Domain

The Bad Trade-Offs Emerging Markets Face

Today 03:20 GMT

Countries are making these trade-offs for fear the turmoil that has gripped emerging markets such as Turkey and Argentina could spread more broadly.

Central bankers and finance ministers attending the annual gathering of the International Monetary Fund and the World Bank in Bali, Indonesia, debated the ability of emerging markets to withstand higher interest rates, which make their dollar debts more expensive to repay.

1 Article
Source: BBC

UK 'will see three years of low growth'

Today 10:51 GMT

The UK can expect low economic growth for the next three years, while a no-deal Brexit could dent growth even further, says a forecasting body.

EY chief economist Mark Gregory said: "The UK economy is going to experience a period of low economic growth for at least the next three years, and businesses need to recognise this and adjust accordingly. "They should also consider a sharp downside to the economy in the event of a no-deal Brexit and make preparations for such a scenario."

1 Article
Source: Common Domain

The ‘pain threshold’ approaches for the housing market, analyst warns

Today 10:51 GMT

While investors are no doubt wringing their hands over what’s going on in the stock market this week, here’s another thing to fret over: rising mortgage rates.

“So a 6% average 30-year fixed rate in these inflated markets will likely change the equation a lot more than in some of the less inflated markets.”

1 Article
Source: CBS News

"On Desperate Ground": The story of Chosin Reservoir, the Korean War's greatest battle

Today 03:19 GMT

In his new book, "On Desperate Ground" (Doubleday), author Hampton Sides calls Chosin Reservoir "the Korean War's greatest battle."

"Survival is probably the strongest of our instincts, and we all just did what we had to do to survive," said Warren Weidhahn, now 90, who was a young Marine at Chosin Reservoir. But unless you were at the Chosin Reservoir in North Korea in the brutal winter of 1950, you have no idea.

1 Article
Source: Common Domain

Bank of America Profit Jumps 32%

Today 13:36 GMT

BAC 0.35% said Monday that third-quarter profit rose 32%, as higher interest rates and last year’s corporate tax cut continued to lift bank earnings.

Quarterly profit at the Charlotte, N.C.-based bank, the second largest in the U.S. by assets, was $7.167 billion, compared with $5.424 billion a year ago. BAC 0.35% said Monday that third-quarter profit rose 32%, as higher interest rates and last year’s corporate tax cut continued to lift bank earnings.

12 Articles
Source: Common Domain

Behind Market Turmoil, Potentially Good News

Saturday 20:55 GMT

Nonetheless, there are many ways things may not go according to plan: Growth may abruptly downshift as a tax-cut fueled “sugar high” recedes; tight labor markets and tariffs could push up inflation; or emerging market turmoil could spread.

In its semiannual outlook released this week, the International Monetary Fund said the U.S. economy is already operating above its normal capacity, and the fiscal boost coming from lower taxes and increased spending “could lead to an inflation surprise,” triggering rapid rate increases, global financial turmoil, and a stronger dollar, all bad for global growth.

9 Articles
Source: Reuters

Breakingviews - Markets are finally getting back to basics

Friday 18:13 GMT

There are the clouds in the global picture, from the U.S.-China trade spat to signs of problems – and investor skittishness – surrounding certain emerging markets.

Yet American equity valuations are high, trade tensions and interest rates are rising, and earnings season is under way. A slump overnight slowed on Thursday, partly thanks to a tame U.S. inflation report.

1 Article
Source: Common Domain

Rates Are Rising, But Banks Aren’t Worried About Consumers

Saturday 21:50 GMT

Rising interest rates make it more expensive for households to maintain a borrowing binge that has reached record highs in some categories, yet banks reported Friday that default rates nonetheless improved in the third quarter.

The good times keep rolling for the biggest U.S. banks, with consumers easily absorbing higher borrowing costs and the economy shrugging off trade spats, political strife and market swoons.

3 Articles
Source: Global News

Donald Trump: ‘I think we’re going to get the African American vote’

Saturday 21:50 GMT

That was U.S. President Donald Trump, speaking at a rally in support of Republican candidates ahead of the midterm elections in Lebanon, Ohio on Friday.

Donald Trump boasts economy poll results that credit Barack Obama for doing the work. Trump has repeatedly highlighted such statistics, particularly in his State of the Union address in January. He has also cited a historically low unemployment rate for black people, which stood at six per cent in September, down from seven per cent a year earlier but mostly unchanged from the two previous months.

1 Article
Source: Common Domain

‘What’s Going to Be on Twitter the Next Day’: Central Banks Close Ranks After Trump’s Ire

Sunday 16:20 GMT

While central bankers frequently express concerns about their independence, Mr. Draghi—who didn’t mention the Fed or Mr. Trump directly—said the threats are increasingly front-page news, and that “you can see the executives are asking central banks to do things, which is not exactly the way to respect central bank independence.”

BALI, Indonesia—The Federal Reserve stressed the need for it to normalize monetary policy gradually and transparently, as its global counterparts warned against threats to central bank independence following President Trump’s criticisms of the Fed.

1 Article
Source: Common Domain

Does stock-market volatility make CDs tempting Read this first

Friday 18:13 GMT

Ultimately, when choosing a CD term, it comes down to one question, O’Shea said: “Is that 0.5% premium worth giving up access to your money for a year?”

Bump-up CDs allow depositors to opt to adjust their interest rate (typically once) during the term, while step-up CDs will move the rate higher at set intervals depending on the market conditions. Consumers can also consider bump-up and step-up CDs as opposed to traditional CDs that carry a fixed rate.

1 Article
Source: Fox News

This state spends the most on welfare

Saturday 13:36 GMT

California, for example, has the highest total public welfare expenditures at around $98.5 billion, but is not listed as one of the states that spends the most on welfare per capita – New York is.

According to the report, New York spends $3,305 on welfare per capita, while its total public welfare expenditures are only $19.85 billion. The biggest factor contributing to the problem is the state’s high cost of living, which is the fifth-highest in the country.

1 Article
Source: Common Domain

Credit-card users should ‘jump on’ these offers as interest rates hit record highs

Sunday 14:30 GMT

Credit-card interest rates are soaring to new highs and, experts say, consumers should start to rethink their debt repayment strategies.

With interest rates likely to continue increasing over the next year, those who have sizable amounts of credit-card debt should strongly consider balance transfer card offers, which allow consumers to transfer their balance to a new card with a lower interest rate.


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