BizTechNews

‘Brexit’ zaps oil, farm product prices but helps gold

Whether it was cattle or oil, commodity investors were spooked Friday by the United Kingdom’s vote to exit the European Union, causing prices to fall for a broad range of commodities. But as is often the case in times of uncertainty, gold prices experienced an uptick. When it came to oil and agricultural commodities overall, the ripple effects on prices weren’t as significant as the impact ...

Read More »

U.S. stocks hammered as Brexit shock rocks markets

The U.S. stock market suffered its worst drop in 10 months Friday as shock over the United Kingdom voters’ move to exit the European Union and Prime Minister David Cameron’s subsequent resignation announcement sent global markets into a tailspin. Amid swirling uncertainty over the impact of the  “Brexit,” the Dow Jones industrial average tumbled 611 points, or 3.4%, to close at 17,400. The Standard & ...

Read More »

Brexit could drive Fed to delay rate hike

The Brexit vote could prompt the Federal Reserve to delay hiking interest rates amid predictions of a global slowdown resulting from the United Kingdom’s exit from the European Union. “Given the Brexit vote we push back the timing of the next Fed hike from September to December 2016,” wrote Lewis Alexander, an economist at Nomura, Friday in an investor note. The Brexit ...

Read More »

UK Votes to Leave the European Union

In a vote that has left the world stunned, the United Kingdom has voted 51.9 percent to 48.1 percent to leave the European Union. The United Kingdom will no longer remain in the European Union, voting 51.9 percent to 48.1 percent in favor of the “Brexit” referendum. Prime Minister David Cameron announced, shortly after the decision became clear, that he ...

Read More »

GOP congressman seeks to block changes to US currency, doesn’t want Harriet Tubman on the $20

DES MOINES, Iowa (AP) — A Republican congressman is trying to block the Treasury from redesigning U.S. currency, a move that could prevent the government from replacing Andrew Jackson on the front of the $20 bill with abolitionist Harriet Tubman. –Alabama Congressman Calls Obama the Most ‘Racially-Divisive’ President Since Slavery Rep. Steve King of Iowa has offered an amendment to a ...

Read More »

Banks ace Fed’s severe stress test

The nation’s top banks passed the Federal Reserve’s stringent stress testing Thursday, showing just how much stronger they’ve gotten since the financial crisis. The results showed that even in an economic catastrophe, the banks’ high-quality capital to risk-weighted assets would fall to an acceptable minimum level of 8.4%, the Fed says. That’s down from 12.3% in the fourth quarter, but ...

Read More »

How the ‘Brexit’ vote could affect your portfolio

NEW YORK Investors wondering how Thursday’s vote in Britain on whether to stay in or leave theEuropean Union will affect their portfolios already have a blueprint to follow: the price movement of stocks, bonds and currencies in recent weeks have closely tracked polls that swung in the direction of either the “remain” camp or the group pressing for a “leave” result. Indeed, Wall Street ...

Read More »

Millions can march in Google’s virtual Pride parade

SAN FRANCISCO — Google is tapping the power of immersive new virtual reality technology so millions of lesbian, gay, bisexual, transgender and queer people in the U.S. and around the globe unable to participate in Pride because of social stigma or anti-gay laws can take part in the celebration. #Prideforeveryone is a vivid montage you can view on YouTube 360 and ...

Read More »

Rieder: Trump needs more scrutiny, not less

The Forward, the venerable Jewish-focused, New York-based news outfit, on Wednesday ended its 24-hour “Trumpatorium” in which it made no mention of presumptive Republican presidential nominee Donald Trump. It made the move to protest anti-Semitic attacks on journalists who write things they don’t like. Last week, after Trump declared that his rallies would be off-limits for The Washington Post, Seth Meyers ...

Read More »

Social Security recipients to get small increase

The average recipient of Social Security will receive a slight increase in benefits in 2017, according to projections released Wednesday. Trustees who oversee the nation’s entitlement programs said in two new reports that they expect Social Security’s cost-of-living-adjustment (COLA) increase to be 0.2% next year, based on “intermediate assumptions.” The trustees also projected that Medicare’s Hospital Insurance trust fund will run out of money earlier than ...

Read More »