Stock rally losing puff as economic growth doubts grow

A passerby wearing a protective face mask walks past an electric screen displaying a graph showing Japan’s Nikkei share average, amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan February 24, 2022. REUTERS/Issei Kato/Files Register now for FREE unlimited access to Reuters.com Register Asia struggles to carry on Wall St rally Japan economy shrinks, Aussie … Read more

As inflation slows and ruble rallies, Russia is hoping to avoid a crisis

Russian President Vladimir Putin. Pole | Reuters Russia believes it has swerved a financial crisis as its currency rallies and economic data improves, but strategists say the numbers mask some ugly truths for Moscow. Although inflation in the country is running hot, there are signs that price rises are slowing and will continue to do … Read more

Warren Buffett’s Berkshire Hathaway finally bails on Wells Fargo

Now, the Oracle of Omaha has finally thrown in the towel. Berkshire Hathaway †BRKB† disclosed late Monday that it sold its remaining stake in Wells Fargo †WFC† during the first quarter, according to the conglomerate’s latest filing of holdings with the Securities and Exchange Commission. Shares of Wells Fargo rallied with other bank stocks Tuesday, … Read more

7 Electric Vehicle Stocks to Buy on the Dip

Electric vehicle sales are expected to grow exponentially, thanks to government mandates and positive consumer disposition. BYD †BYDDF): Resilience shown by the Chinese EV maker against a tough geopolitical and macroeconomic backdrop makes it a top buy. Nioz †NIO): Positive inflection is in the cards when external factors cease to drag performance. XPeng †XPEV): Nimble … Read more

How to sidestep a tax bomb when selling your home

With soaring prices and record home equity, you may expect a profit from selling your property. But the windfall may trigger an unexpected tax bill next April. While home profits dipped slightly, the typical single-family seller still scored a $103,000 gross profit during the first quarter of 2022, according to ATTOM, a nationwide property database. … Read more

What the Hell Just Happened With Crypto?

The cryptocurrency world took a beating last week. The price of bitcoin fell to lows not seen since 2020; Coinbase, the largest cryptocurrency exchange, saw its stock plummet; and a prominent “stablecoin” called Terra, along with its associated cryptocurrency, Luna, collapsed. In response, crypto naysayers took to Twitter to dance on bitcoin’s grave, and subreddits … Read more

‘Some pain’ may be required to slow inflation

Federal Reserve Chairman Jerome Powell said Tuesday that the central bank will continue to raise short-term interest rates — which will likely slow economic activity — until there is “clear and convincing evidence” that inflation is coming down. “We will go to that point and there won’t be any hesitation about that,” Powell said at … Read more

Allianz division agrees to pay $6 billion for defrauding teachers, religious groups and foundations

New York CNN Business † A US division of German insurance firm Allianz will pay more than $6 billion for what US investigators called a “massive fraudulent scheme” that involved the investments of public pensions, religious organizations and other foundations. The settlements with the US Department of Justice and US Securities and Exchange Commission are … Read more

Walmart, Citigroup, Paramount and more

Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey VIEW press | Corbis News | Getty Images Check out the companies making headlines in midday trading. Walmart — Shares dropped over 11% after the big-box retailer reported quarterly earnings that significantly missed Wall Street’s expectations. Walmart posted adjusted first-quarter … Read more