Finance news

With no team in World Cup, China fans root for Ronaldo, Messi … and a referee

On a sunny day in Brooklyn’s Dumbo neighbourhood, punters piled into the fifth floor of Time Out Market to Portugal House – part food court, part bar, full-blown World Cup party. The room was awash with Portuguese team jerseys, filled with fans sipping cold beer and soft drinks, proudly singing Portugal’s national anthem before their match against DR Congo. “Hopefully, one day I can sing the Chinese national song in a World Cup stadium,” said Zhai Yibo, a 20-year-old Chinese student studying in.

JPMorgan Chase unveils $50 billion buyback, Goldman Sachs raises dividend after Fed stress test

The announcements followed the release of the Federal Reserve's annual stress test, which found that all 32 large banks weathered a hypothetical recession.

Federal Reserve: US Federal Reserve – Banks pass stress test without any problems

During the annual stress test, a crisis scenario with a global recession was played out. The result shows that 32 of the leading US financial institutions are well positioned.

These hidden PCE triggers could force a Fed rate hike — and shock the market

The PCE inflation report will either calm Wall Street or ignite fears of a restrictive Fed.

Federal Reserve says U.S. banks can withstand $708 billion in losses amid overhaul of capital rules

The Fed's annual exercise comes at a pivotal moment for bank regulation because, unlike previous years, the results will not affect capital requirements.

Federal Reserve Board's annual bank stress test confirms that large banks are well positioned to weather a severe recession and able to continue to lend to households and businesses

Federal Reserve Board's annual bank stress test confirms that large banks are well positioned to weather a severe recession and able to continue to lend to households and businesses

US, UK, France, Germany raise alarm about Chinese patrols off eastern Taiwan

The countries said Chinese patrols off the coast of Taiwan threaten regional stability and freedom of navigation.

Bitcoin still in free fall - still under €50,000 this week?

While World ETFs produce very solid returns year on year (the Grail is +26% in the 1-year period), Bitcoin continues to fall. The price is currently €52,000. For comparison: 5 years ago (!) the price was temporarily higher than it is now. Inflation is not even taken into account. Even Dirk Müller can't achieve such negative returns! I've always found Bitcoin to be fun play money. It's clear to everyone that Bitcoin is actually worthless, but sometimes you just want a little

Brazil detains Spanish woman for racism, in latest high-profile arrest

Brazil’s federal police detained a Spanish citizen in Sao Paulo’s international Guarulhos airport for racism on Wednesday, the latest in a series of high-profile arrests of foreign tourists on similar grounds. Brazil has some of the strictest anti-racism laws in Latin America. Insulting a person on the basis of race carries a penalty of imprisonment from two to five years and a fine. The crew of a Latam airlines flight arriving from the northeastern city of Sao Luis called police, who arrested..

Trump’s name is gone from the Kennedy Centre. Why is the tarp still up?

A US federal judge asked on Wednesday for an explanation for why a tarpaulin continues to cover the facade of the Kennedy Centre where President Donald Trump’s name was recently removed. District Judge Christopher Cooper gave the board of trustees of the performing arts venue until the end of July to explain “the purpose for and status of the tarp and scaffolding that defendants have erected on the front portico of the centre”. Trump’s name was removed from the Kennedy Centre on the orders of...

Did the Trump White House just give Warsh the green light to hike interest rates? This analyst thinks so.

Treasury Secretary Scott Bessent has floated the idea of a single “tap the brakes” rate hike.

Federal student loans have a new interest rate discount — here's who qualifies

To qualify for the U.S. Department of Education's new interest rate discount on student loans, borrowers must meet several requirements. Here's what to know.

Money market ETF or “overnight money” from Trade Republic

Hi, I want to get the money I saved, which is supposed to be used as equity for building/buying a house, from my savings bank daily money account because I only get 0.65% interest there. The plan is to either store it as “cash” at TR or simply invest in a money market ETF. Since I want to get the money “quickly” when in doubt, a fixed-term deposit account is currently not an alternative for me. I know that there are daily money accounts that pay more than 2.25% interest, but I already have an account

Is the pullback in the room with us?

Finding it hard to understand how markets are still propped up so high… Every investing subreddit i come across has members flaunting their 100-1000% gains on AI-related stocks. We see a pullback of 5% and everyone is piling in to the dip (at least on reddit). At what point do we admit everything is overvalued? They dont even know how to monetize AI! Backlogs at every chip & compute provider, promised to be fulfilled by companies that can hardly turn a profit. Then you look at chinese opensource

Micron, AMD and Co.: What's behind the sell-off in tech stocks

Technology stocks have fallen sharply in recent days. The drivers are not only the fear of high interest rates, but also technical factors.

Euro Sinks To One-Year Low As Oil Price Drop Fuels ECB Rate Cut Bets

The euro has sunk to a one-year low, with easing of tensions between the United States and Iran helping to cool oil prices and raise expectations that the European Central Bank will turn more dovish. The euro was quoted at $1.135 against the U.S. dollar on Wednesday, down from $1.165 before the U.S. and Iran first agreed to a conditional ceasefire on 8th April. A provisional peace agreement to restore oil flows through the Strait of Hormuz has dramatically cooled global energy markets, with Bren

Where can I safely invest 100k?

I have around 100k and I want to keep it secure so I don’t lose it, but I also want a better return than normal bank interest rates. I’m not looking for risky trading, just something stable. Any advice? submitted by /u/Electronic-Tooth-210 [link] [comments]

VLCC Earnings Near $470,000 a Day as Hormuz Hopes Drive Tanker Frenzy

Oil tanker rates have soared since the U.S. and Iran announced the memorandum of understanding as oil importers scramble to charter vessels to pick up Persian Gulf cargoes in the hope these can transit the tentatively reopening Strait of Hormuz. One tanker has been provisionally booked to ship crude from the Persian Gulf to India at a rate that’s nine times the benchmark for the route, shipbrokers told Bloomberg on Wednesday. South Korea’s Sinokor shipping group, which before the war went on a b

29 arrested in crackdown on loan sharks who charged victims 3,000% in interest

Hong Kong police have arrested 29 people in a crackdown on a loan-sharking and money‑laundering ring that charged victims annual interest rates as high as 3,000 per cent. Police said on Wednesday that the syndicate had set up a secret call centre in Tsuen Wan and posed as licensed finance companies, randomly phoning people in an attempt to lure them into borrowing money. In the process, they extracted personal information, including occupations, repayment ability and family background. Small...

Germany scraps F126 frigate program, pivots to MEKO warships amid cost and contractor chaos

Germany Navy leaders have already blessed the fallback ships as capable of meeting NATO capability requirements, but an alliance deadline looms.

ECB reports on progress towards euro adoption

Chinese-Filipino groups downplay Sinophobia over earthquake aid in Philippines

Chinese-Filipino business groups have sent aid to earthquake-hit residents in the southern Philippines, continuing their tradition of providing disaster relief at a time when worsening Manila-Beijing ties have complicated public perceptions of people and organisations linked to China. In General Santos City, among the areas hardest hit by the devastating 7.8-magnitude earthquake that struck the country on June 8, local officials and survivors said politics had little place in disaster recovery..

Tank maker KNDS plans stock market listing, Germany to buy 40% stake

The firm showed a proposed battle tank at Eurosatory defense exhibition in Paris boasting a French turret and gun mounted on a German Leopard 2 chassis.

Philippines’ worst school shooting puts social media, games in the dock

After two teenagers opened fire at a Philippine high school this week, the first question lawmakers asked was not about gun control, but the internet. Three pupils were killed and 20 injured at San Jose National High School in Tacloban City, Leyte province, on Monday – the highest total casualty count of any Philippine school shooting. It has renewed calls to restrict Filipino children’s access to social media and online games, coming months after police said they had disrupted a school shooting

Defense stocks plummet on report Germany is scrapping warships; Rheinmetall stock down 13%

Berlin is planning to scrap a multi-billion-euro project to build the F126 frigates, according to the Financial Times.

Iceland joins TIPS for instant payments

Asian Demand for Mideast Oil Slows after Splurge

Asian refiners have slowed purchases of Middle Eastern crude after a buying spree over the past three weeks, with oil majors and traders stepping in to take some of the surplus barrels.

Singaporean woman jailed for slapping, punching helper over job performance

Upset with the way that her domestic worker had performed tasks such as hanging the laundry or cleaning bottles, a 67-year-old woman slapped, punched and scratched her, drawing blood. The victim, who earned S$470 (about US$360) a month, told staff members from Singapore’s Centre for Domestic Employees (CDE) during a routine call about the abuse, and a police report was made. Hazel Phang Fong Yen, a 67-year-old Singaporean woman, was sentenced to four months’ jail on Wednesday. She was also...

Federal Reserve: Kevin Warsh's difficult start

The Fed chief is right to have the central bank critically examined. But his reform ideas are suffering from Trump, America's debt and a daring monetary policy thesis.

Trump Orders Gas Price Gouging Probe

President Trump has ordered an investigation into possible price gouging at fuel stations, an investigation he announced in a social media post. “The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping ‌like a rock! In other words, customers are being "gouged",” Trump wrote. “I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster tha