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Posted on April 19, 2024 by James Miller

Indonesia looks to protect its economy from the adverse effects of a strong U.S. dollar.  The rupiah faces severe depreciation. Already, it’s at a four-year low after dropping more than 2.5% against the dollar in April.  Officials are using fiscal policy as a shock absorber and stepping up foreign exchange interventions to stabilize the currency. […]

Posted on April 19, 2024 by James Miller

Argentina’s corn farmers face a setback as a leafhopper plague ravages their fields, jeopardizing hopes for a record harvest amid President Javier Milei’s economic revival efforts. The corn harvest forecast plummeted by 12%, and soybean harvests also face challenges from excessive rainfall.  Leafhopper attacks spread spiroplasma disease, causing deformities in corn plants and leading to […]

Posted on April 18, 2024 by James Miller

President Joe Biden and First Lady Jill Biden paid $146,629 in federal income taxes on a combined $619,976 in adjusted gross income in 2023. As revealed by White House tax filings, this reflects a 23.7% effective federal income tax rate. The amount marks a slight increase in both income and taxes compared to the previous […]

Posted on April 18, 2024 by James Miller

Sterling climbed to a one-month high against the euro and strengthened against a somewhat weaker dollar on Wednesday, fueled by the latest UK inflation data, which suggests the Bank of England might slow down its rate cuts. The inflation rate in Britain eased to 3.2% in March, a slight decrease from February’s 3.4%, marking the […]

Posted on April 16, 2024 by James Miller

U.S. stocks slid on Monday as surging bond yields, sparked by stronger-than-expected retail sales, heightened concerns that the Federal Reserve may keep interest rates high for longer.  The S&P 500 and the tech-heavy Nasdaq retreated, dragged down by major tech companies like Microsoft, Apple, and Nvidia. Amid rising market volatility, the VIX—Wall Street’s “fear gauge”—soared […]

Posted on April 12, 2024 by James Miller

The dollar soared in response to potential European Central Bank (ECB) rate cuts, causing the Japanese yen to hit a new 34-year low. This dynamic shift occurred as the ECB signaled possible rate reductions this summer, contrasting with the U.S. Federal Reserve’s more cautious stance due to persistent economic heat in the U.S. The euro […]

Posted on April 12, 2024 by James Miller

Chinese regulators are investigating Dawning Information Industry Co., a leading AI and computing firm, after discovering unauthorized stock trades by the chairman’s wife, Zhang Dihua. Dihua traded 150 million yuan ($21 million) of company stock, profiting 590,000 yuan through 232 trades between March 2023 and March 2024, a period during which the company’s stock value […]

Posted on April 9, 2024 by James Miller

European markets experienced a slight decline on Tuesday, with investors on edge ahead of upcoming U.S. inflation data and a European Central Bank decision. Despite this, diagnostics company Biomerieux saw a jump following the announcement of its new strategic plan. After a strong session on Monday, the pan-European STOXX 600 index fell by 0.2%. Maximilian […]

Posted on April 5, 2024 by James Miller

In a significant vote of confidence on Wed., April 3, Disney CEO Bob Iger withstood a challenge from activist investors led by Nelson Peltz, ensuring continued support for the company’s current management team.  The dispute centered on the direction of Disney’s succession planning and its diversity initiatives, with shareholders ultimately siding with Iger. The resolution […]

Posted on April 4, 2024 by James Miller

Foreign investors pulled out 1.18 trillion yen ($9.07 billion) from Japanese stocks last week, marking the largest outflow since September 2023 The withdrawal from Japanese stocks was accompanied by a notable sell-off in derivative contracts, with foreign investors selling a net 967.32 billion yen, the largest in nine weeks.  Additionally, approximately 213 million yen was […]