The gold rally hasn’t lost its shine. Investors flocked to the precious metal this week, pushing prices to $1,552 an ounce, as the yield curve inversion deepened and again set off recession alarm bells. Deutsche Bank analysts said in a note Tuesday that global central banks’ move to gold investments […]
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Mini refinance boom goes bust, as mortgage rates turn higher
Prospective home buyers tour a house for sale with their realtor in Machinaw, Illinois. Daniel Acker | Bloomberg | Getty Images It didn’t take much to end the party in the refinance market. A small tick higher in mortgage rates caused the sudden surge in refinances to retreat just as […]
New recession warning: The rich aren’t spending
An Automobili Lamborghini SpA Aventador vehicle sits on display during the Gallery event at the MGM Grand Detroit ahead of the 2019 North American International Auto Show in Detroit, Jan. 12, 2019. Daniel Acker | Bloomberg | Getty Images The rich have cut their spending on everything from homes to […]
Storm Dorian expected to strengthen, could hit Puerto Rico
Tropical Storm Dorian threatened Puerto Rico with a direct hit on Wednesday, as forecasters said it made a last-minute shift in its path and could reach near-hurricane strength in its approach to the U.S. territory. The storm is expected to pass over or near western and central Puerto Rico, with […]
A life insurance start-up backed by Jay Z and Will Smith is now worth nearly $500 million
Ethos co-founders Lingke Wang, left, and Peter Colis, right. Ethos Ethos, the Silicon Valley start-up taking on America’s life insurance industry, just snagged $60 million in funding. The San Francisco-based company announced on Wednesday that it raised the fresh funds in a Series C round led by GV, Alphabet’s venture arm, and […]
Sterling falls as Boris Johnson restricts parliamentary time and makes a no-deal Brexit more likely
Boris Johnson speaks after being announced as Britain’s next Prime Minister at The Queen Elizabeth II centre in London, Britain July 23, 2019. Toby Melville | Reuters Sterling fell 1% against the dollar Wednesday morning after U.K. Prime Minister Boris Johnson said he would schedule the formal reopening of parliament […]
China is reportedly using LinkedIn to recruit spies overseas
Social networking application LinkedIn. Aytac Unal | Anadolu Agency | Getty Images Chinese spies have been using LinkedIn — the only major American social media platform not blocked in China — to seek out potential new foreign recruits, The New York Times reported on Tuesday. LinkedIn is ideal for espionage […]
India’s central bank handed over billions to the government. Here’s how they may spend it
The Reserve Bank of India (RBI) logo is displayed outside of the bank’s headquarters in Mumbai, India, on Tuesday, Aug. 9, 2011. Kainaz Amaria/Bloomberg | Bloomberg | Getty Images The Indian government is set to receive a windfall gain from the central bank amid the economy struggling to accelerate growth. […]
The yuan hit an 11-year low this week. Here’s how China controls its currency
A bank employee counts US currency and Chinese currency notes at a bank in Nantong, Jiangsu Province of China. Xu Jinbai | Visual China Group | Getty Images China’s yuan is being closely watched as its economy slows and as Beijing remains locked in a trade war with the U.S. […]
Tesla may be raising prices in China — but it won’t be for long, analyst says
Electric carmaker Tesla will reportedly increase prices in China this week in anticipation of rising tariffs — but one automobile expert says the higher costs will not likely last. That’s because the company will localize its production to avoid the impact of additional duties, brought on by the escalating trade dispute between the […]