This is a carousel. Use Next and Previous buttons to navigate 12 TOKYO (AP) — Global shares were mixed Thursday after the Federal Reserve raised a key interest rate, while noting the end may be near for its economy-crunching hikes to interest rates. France's CAC 40 declined 0.3% in early trading to 7,112.95, while Germany's DAX slipped 0.2% to 15,183.25. Britain's FTSE 100 dipped 0.5% to 7,532.54. U.S. shares were set to drift higher with Dow futures up 0.5% to 32,430.00. S&P 500 futures added 0.7% to 3,999.75. In Britain, investors were awaiting an interest rate decision by the Bank of England. Many economists had expected the central bank to keep rates on hold, until the unwelcome news this week that soaring prices for vegetables helped push inflation to 10.4% in February. The Fed raised its key overnight rate by a quarter of a percentage point, the same size as its last increase, in … [Read more...] about Global shares mixed after Fed hints rate hikes may end soon
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Markets Struggle to Decide Where Banking Rules Go From Here
No clear path on helping banks U.S. banking regulators gave investors a lot to chew on yesterday. The Federal Reserve went ahead with a quarter-point increase in interest rates, signaling that, for now, it remained more worried about inflation than banking stability. But while Jerome Powell, the central bank’s chair, and Treasury Secretary Janet Yellen said that they were focused on ways to improve regulation of the banking industry, Ms. Yellen appeared to backtrack on the prospect of extending insurance on deposits. That lack of clarity unnerved investors yesterday, sending shares in smaller banks tumbling, as they worried about what’s next. The Fed acknowledged that it may finally stop raising rates — “may” being the operative word, Mr. Powell said. Though officials forecast one more rate increase this year, that’s not set in stone. In some ways, Mr. Powell added, the turmoil hitting lenders now is effectively substituting for additional rate increases . How the … [Read more...] about Markets Struggle to Decide Where Banking Rules Go From Here
New York Put Recovering Virus Patients in Hotels. Soon, 4 Were Dead.
When Robert Rowe Jr. was discharged from the hospital this month after testing positive for the coronavirus, he needed a place to stay so he would not put his 84-year-old father at risk. New York City health officials put him up at a three-star hotel in Midtown Manhattan. The room was provided under a city program that was intended to protect recovering patients’ families and roommates. Case workers are supposed to check on the patients twice a day by telephone. But on Saturday, Mr. Rowe, 56, was found dead in his room at the Hilton Garden Inn on West 37th Street, nearly 20 hours after a city worker last phoned him, though it was unclear whether he picked up. Two other men sent to the same hotel — Julio Melendez, 42, and Sung Mo Ping, 64 — also died last weekend, and a fourth man in the program died early this month at a Queens hotel. The deaths exposed holes in the way the city monitors isolated patients and underscored the difficulty in containing the outbreak in New … [Read more...] about New York Put Recovering Virus Patients in Hotels. Soon, 4 Were Dead.
Goldman Sachs’s Top Image Maker Is Leaving
A change of messenger at Goldman Sachs For nearly a decade, Jake Siewert led Goldman Sachs ’s post-crisis efforts to shed its image as one of Wall Street’s most mysterious, and maligned, money machines. We’re the first to report that he plans to announce his departure later today. Mr. Siewert joined Goldman as its communications chief in 2012, bringing both political connections — he was a top aide to Tim Geithner when he was Treasury secretary, and spent eight years in the Clinton administration, including as White House press secretary — and experience as a senior executive at Alcoa. (Mr. Siewert’s wife, Christine Anderson, is the global head of external relations at Blackstone.) He did not have an easy job: The day after his hiring was announced, a former Goldman banker published a now-famous Op-Ed, “ Why I Am Leaving Goldman Sachs ,” accusing the firm of fostering a “toxic and destructive” environment. As he departs, disgruntled junior bankers at the firm have … [Read more...] about Goldman Sachs’s Top Image Maker Is Leaving
79-Year-Old Vietnam War Vet to Graduate 62 Years After Leaving School
A 79-year-old Vietnam War veteran from Ohio is finally receiving his high school diploma decades after leaving school. WBNS reported Urvin Hartsock, 79, of Johnstown, Ohio, left high school in 1961 to take a job at a local steel plant where he worked for a year before being laid off. His next move was joining the U.S. Army. “At that time I was young,” Hartsock told the outlet. “[I] thought I was smarter than the teachers that was teaching me. When I got in the service I figured out I wasn’t as smart as I thought I was.” After serving three years in Korea during the Vietnam war, he came back to Ohio – now with a family of his own, per WBNS. By all indications, Hartsock was a staple of his community. The Columbus Dispatch reported Hartsock participated in his America Legion post’s “Pancake Day” in 2016 and told the outlet he had been responsible for mixing the batter before the post switched to an electric drill. “I burned up a hand-mixer last year,” … [Read more...] about 79-Year-Old Vietnam War Vet to Graduate 62 Years After Leaving School