Month: March 2023

BlackRock warns that investors are making a mistake by betting on the Fed to cut rates

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Market pricing as of Tuesday morning pointed to the Fed holding its benchmark interest rate at current levels and then starting to reduce as early as July. The expectation for cuts would be consistent with a recession and an accompanying fall in inflation, assumptions that Wall Street strategists think are dubious. “We think the Fed … Read more

JPMorgan holds massive gold derivative short position that could be larger than the bank’s total assets, top money managers warn

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by: Ethan Huff (Natural News) Should the price of gold ever shoot up from its current price by, say, another $1,000 in the coming weeks or months due to an unexpected “black swan” event, banking giant JPMorgan Chase would more than likely find itself underwater due to the massive gold derivative short positions it currently holds. Dr. … Read more

Electronic Arts is cutting about 800 jobs, or 6% of workforce, and reducing office space

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https://www.cnbc.com/2023/03/29/ea-laying-off-6percent-of-workforce-reducing-office-space.html Electronic Arts is cutting 6% of its workforce, equal to about 800 jobs, and reducing office space, the video game company said Wednesday. “As we drive greater focus across our portfolio, we are moving away from projects that do not contribute to our strategy, reviewing our real estate footprint, and restructuring some of our … Read more

Subprime is back on the menu

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by megaultraman Well, not yet. But regional banks have a serious cash flow problem. Regardless of the safety of treasuries, if you are paying 5% interest against $70+ billion (deposit outflows from FRB) which is money you no longer have, you need money. Actually, around $5 billion dollars a year, roughly equivalent to 100% of … Read more

Robinhood outages $9.9M class action settlement

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https://topclassactions.com/lawsuit-settlements/open-lawsuit-settlements/robinhood-outages-9-9m-class-action-settlement/ Robinhood agreed to pay a $9.9 million settlement to resolve claims that account holders lost money due to March 2020 outages. The settlement benefits Robinhood account holders who engaged in one of three types of qualifying trades: VWAP Loss Traders: Individuals who closed one or more positions on March 3, 2020, at a loss relative … Read more

Brian Cohen: “It looks like Disney just checkmated Ron DeSantis. Board now complaining Disney used loophole to strip their power until 2053.

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It looks like Disney just checkmated Ron DeSantis. The board DeSantis appointed to “oversee” Disney is now complaining that the company used a loophole to strip them of their power until 2053. https://t.co/xCaxdn4QE4 — No Lie with Brian Tyler Cohen (@NoLieWithBTC) March 29, 2023 LAKE BUENA VISTA — Gov. Ron DeSantis’ handpicked board overseeing Disney … Read more

Al Jazeera: Christine E. Wormuth – US Secretary of the Army: “If we are going to go to war with China, we will not do it alone, but with allies”

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https://twitter.com/_/status/1641032586452508673 https://twitter.com/_/status/1641103862055444481 عاجل | وزيرة الجيش الأمريكي: نعمل لتطوير العلاقات مع الحلفاء وإذا كنا سنخوض حربا مع الصين فلن نقوم بذلك منفردين — الجزيرة – عاجل (@AJABreaking) March 28, 2023 The open talk of the coming war with China by senior US administration officials continues, as if it was perfectly normal. https://t.co/wPPJq4BInZ — Arnaud Bertrand … Read more