Treasury secretary speaks out about struggling economy
Janet Yellen said inflation is unacceptably high.
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Business InsiderAmerican companies' spending on private jets hit a 10-year high, and Mark Zuckerberg's Meta took the No. 1 spot
Companies represented in the S&P 500 spent nearly $34 million on private jet travel for CEOs and board members last year, the Financial Times reported.
- MarketWatch
Crypto exchange CoinFlex says one of the most prominent names in the industry defaulted on $47 million USDC debt
CoinFlex’s chief executive Mark Lamb said Tuesday that it issued a notice of default to Roger Ver, alleging that Ver failed to meet a margin call and owes the exchange $47 million USDC.
- TheStreet.com
Crypto Warning From Within: Billionaire Says More Bad News Ahead
The crypto industry is currently undergoing a truth test that will determine which projects are viable
- MoneyWise
‘We have a whole lot more to go down’: Suze Orman thinks we’re headed for a recession and warns that things may get a ‘little bit ugly.’ Here's what she likes for safety
Suze is bearish — but not on everything.
- Bloomberg
Trump-Tied SPAC Tumbles After Disclosing Grand Jury Subpoena
(Bloomberg) -- Digital World Acquisition Corp., the special purpose acquisition company merging with Trump Media & Technology Group, tumbled after disclosing that a federal grand jury in the Southern District of New York issued subpoenas to the company and members of its board of directors. Most Read from BloombergRussia Slips Into Historic Default as Sanctions Muddy Next StepsA $2 Trillion Free-Fall Rattles Crypto to the CoreMichael Burry of ‘The Big Short’ Fame Warns Fed May Alter CourseAnti-A
- MarketWatch
Why the S&P 500 may be in for a 1966-style bear market, according to DWS Group
David Bianco, chief investment officer Americas at DWS Group, has a price target for the S&P 500 of 3,700 to f 4,100 for the second half of the year.
- Motley Fool
3 Stock-Split Stocks You Can Confidently Buy and Hold Forever
Among the high-profile stocks splitting their shares in 2022, these three offer the most attractive long-term growth prospects.
- MoneyWise
‘This recession will be the most severe yet’: Peter Schiff called the 2008 financial crash and now says the next downturn will be worse. Here's what he likes for safety
Schiff publicly predicted the great financial crash of 2008. Will he be right again?
- Business Insider
Pumping gas could lead to a $175 hold to be placed on your card before you even fill up
Earlier this year, Visa and Mastercard raised the gas station holds limit to $175 from $125. The holds are based on the highest transaction allowed.
- TechCrunch
Drive now, pay later: Startup makes EVs more accessible by putting off the biggest bill
The auto industry is banking on electric vehicles to slash planet-cooking emissions, but EVs are still too expensive to knock gas-guzzlers out of the game. Sure, EV sales are up, maintenance costs are low and gas prices are high, making combustion engines look all the worse. As we wait around for enhanced tax credits to make EVs more accessible in the U.S., a fintech startup called Tenet is launching with claims that it can soften the upfront blow of EV ownership.
- Motley Fool
Suze Orman Says This Needs to Be Your No. 1 Financial Priority
You may be at a point in life where you're trying to tackle different financial goals. Are you adequately prepared for a financial crisis? You never know when you might lose your job or get hit with a string of costly expenses, like home repairs or medical bills, that your paycheck can't cover.
- American City Business Journals
Cedar Point parent sells California park land; plans park's closure
Cedar Fair plans to use proceeds from the land sale to speed up corporate strategies including resuming quarterly distributions to unit holders.
- Barrons.com
5 Things to Know Before Retiring Outside the U.S.
A beach-front house in Uruguay or a lakeside villa in the Alps may sound like a retirement panacea, but a full-time move to a foreign country isn’t as simple as it sounds. Without proper planning, clients’ retirement dreams can easily be derailed by a host of financial, emotional, and health-related issues, financial advisors say. This includes understanding the neighborhoods where you might want to live, safety considerations, and the cost of living, which could be vastly different from what it might be if you stayed put.
- TheStreet.com
AMD Victim of a Bad Blow at a Very Bad Time
The semiconductor manufacturer is going through a difficult time marked by questions about the demand for its graphics cards.
- Motley Fool
Adding $100 to These 7 Stocks Could Be a Genius Move Right Now
These seven companies offer an intriguing blend of niche dominance, powerful underlying operations, and bargain share prices.
- Motley Fool
Why Carvana Stock Is Falling Hard Today
Shares of the online car-buying company Carvana (NYSE: CVNA) were plunging this morning, likely after a Barron's article published over the weekend said that the company, in some cases, sold cars before it even had the title to them. Barron's said in its reporting that Carvana was selling cars too quickly during the pandemic, when demand for buying a car online soared, which led to problems in receiving the proper title for vehicles for some customers. Apparently, enough people have experienced this problem that a lawsuit is being brought against the car seller, saying that some customers went years without legally being able to drive vehicles purchased from Carvana.
- Business Insider
Southwest Airlines employs a crack team of 4 fuel traders to hedge energy prices — and they've saved the company $1.2 billion this year
Southwest's treasurer said the challenge of hedging fuel prices would humble anyone on Wall Street, and compared it to flying with a 6-month-old baby.
- Motley Fool
4 Stocks Ken Griffin Bought Hand Over Fist as the Nasdaq Plunged
A bear market decline hasn't deterred billionaire Ken Griffin from putting Citadel's money to work.
- Yahoo Finance
$3 trillion in extra savings may push Fed rate hikes too far: Economist
Cash on household and corporate balance sheets is higher than ever. That could make the Federal Reserve's inflation-fighting job even tougher, says Apollo Global Management's chief economist.
- Zacks
New Strong Sell Stocks for June 28th
ACER, BA, and LOB have been added to the Zacks Rank #5 (Strong Sell) List on June 28, 2022.