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☆ ECB pushes through 50 bps rate hike despite market turmoil
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

The ECB raised its three policy rates by 50 basis points in its sixth consecutive rate hike and said future moves will depend on incoming data. Thursday's decision increases the rate the ECB pays on bank deposits, which is the benchmark for borrowing costs in the euro zone, to 3.0% from 2.5%. Some calm returned to financial markets on Thursday after the Swiss central bank threw Credit Suisse a $54 billion lifeline overnight. ECB President Christine Lagarde will be certain to face questions about the turmoil and the euro zone banking sector at a news conference starting at 1345 GMT. After Thursday's hike, the rate on the ECB's little used weekly cash auctions will rise to 3.5% while overnight loans from the central bank will now cost 3.75%.

☆ Credit Suisse chairman says Silicon Valley Bank crisis looks 'local and contained'
▼ + stars: | 2023-03-15 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

The logo of Swiss bank Credit Suisse is seen at a branch office in Zurich, Switzerland, November 3, 2021. The contagion effect from the recent collapse of Silicon Valley Bank is local and contained, said Credit Suisse Chairman Axel Lehmann on Wednesday. Embattled lenders Silicon Valley Bank and Silvergate were not subjected to strict enforcements that govern bigger banks in the U.S. and other parts of the world, Lehmann told CNBC's Hadley Gamble at a panel session in Riyadh. "So in this regard, I think [the contagion] is somewhat local and contained," he said. However, Silicon Valley Bank's fallout still serves as a "warning signal" for the overall market climate, the chairman cautioned.

Chart showing the percentage cut the committee would make to each area of government spending to balance the budget over 10 years. 8 8 8 Deficit 6 6 6 4 4 4 Spending Spending Spending Revenue Revenue Revenue 2 2 2 2023 2033 2023 2033 2023 2033 Current projections Deficits are projected to grow to $2.7 trillion by 2033. 8 8 8 Deficit 6 6 6 4 4 4 Spending Spending Spending Revenue Revenue Revenue 2 2 2 2023 2033 2023 2033 2023 2033 Eliminate by increasing taxes Current projections Eliminate by cutting spending Deficits are projected to grow to $2.7 trillion by 2033. plan to balance budget 50% Projections 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 2050 Current trajectory 200% of G.D.P. plan to balance budget 50% Projections 1930 1960 1990 2020 2050 Sources: Committee for a Responsible Federal Budget; Congressional Budget Office; Republican Study Committee Note: Both plans were released in 2022 and are based on outdated baseline projections; their debt reduction may differ modestly.

☆ The $322 billion impact investment market is grappling with a fundamental question: How does it measure how much good it has achieved?
▼ + stars: | 2023-03-03 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Global impact funds now have over $322 billion in assets under management, PitchBook data shows. Matteo Cera, cofounder at Hogaru, Maria Oliva Farriol of Oryx Impact, and moderator Marta del Castillo, CEO of Social Next. Tasmin Lockwood/InsiderSocial impact measurement is all about the baseline, said Maria Oliva Farriol, impact and ESG manager at Oryx Impact. Oryx Impact is a Barcelona-based fund of funds focused on economic development, climate change, and equality in Africa. To avoid this, Oryx Impact is taking advantage of technology to digitize its impact measurement and management strategy.

☆ Djokovic powers past Griekspoor into Dubai quarter-finals
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +3 min

[1/3] ATP 500 - Dubai Tennis Championships - The Dubai Duty Free Tennis Centre, Dubai, United Arab Emirates - March 1, 2023 Serbia's Novak Djokovic in action during his round of 16 match against Netherlands' Tallon Griekspoor REUTERS/Amr AlfikyMarch 1 (Reuters) - Novak Djokovic stormed into the quarter-finals of the Dubai Tennis Championships on Wednesday with a 6-2 6-3 thrashing of Tallon Griekspoor, swiftly returning to his best form at a tournament he has won five times. A day after being taken to three sets by Czech qualifier Tomas Machac, Djokovic was back to his ruthless best and blasted past a shell-shocked Griekspoor to take the first set with two breaks of serve. Griekspoor managed to win a game and world number one Djokovic dropped serve with a double fault before sealing victory in style. Yesterday, I really had to work hard to get a win," Djokovic said. I have no words to describe it," Rublev, who has saved match points en route to victory three times this season, said.

☆ US home prices could tumble nearly 20% and Fed economists warn further rate hikes risk an even worse housing correction: 'The bubble hypothesis merits attention'
▼ + stars: | 2023-02-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Dallas Fed economists warned of a 19.5% housing market correction in a Tuesday research report. "[I]f the observed price-to-rent ratio grows at an explosive rate relative to its fundamental-based ratio estimated with long-term interest rate and rent growth data, the bubble hypothesis merits attention," they said. For the US housing market to return to its fundamentals, they estimated that a 19.5% correction would be necessary. There were signs that the US price-to-rent ratio began to fall in third quarter as prices cooled faster than rents, they added. For now, a modest housing correction remains the baseline scenario, but the authors warned that more hawkish monetary policy could trigger a steeper correction.

☆ A Murdoch advisor said the 'booze' had got to Giuliani following his 'unhinged' rants about the 2020 election
▼ + stars: | 2023-02-28 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

They described Giuliani's election fraud claims as "deranged," yet Fox News broadcast them anyway. Giuliani, the former New York City mayor and Trump attorney, played a leading role in pushing false claims that the 2020 election was stolen. He is facing a separate lawsuit from Dominion over his promotion of election fraud claims about the company, and has had his New York legal license revoked. Despite the misgivings by Murdoch and his top lieutenants, Giuliani continued to appear on Fox News where he pushed the baseless election fraud claims. Fox News has disputed the Dominion lawsuit, saying that its right to discuss Trump's election fraud claims because it is protected under the First Amendment.

☆ Movie theaters aren't dying — they're evolving
▼ + stars: | 2023-02-25 | by ( Sarah Whitten | ) www.cnbc.com time to read: +9 min

As the space contracts, cinema operators are investing in the basics, improving sounds, picture quality and seating as well as in bolstering its food and beverage offerings, events and alternative programming. While cinema operators are pleased that studio production has increased, they are no longer taking audiences for granted. Over the last few years, movie theater operators have been removing traditional digital projectors and installing laser units, citing cost savings over time and a better picture quality for moviegoers. Many theater operators told CNBC they are planning similar upgrades to sound systems, saying they have partnered with companies like Dolby to bring quality speakers into their auditoriums. So far in 2023, that premium ticket average is higher — $17.33 each — because so many moviegoers saw Disney's "Avatar: The Way of Water" in premium formats and 3D.

☆ Fed economists say the central bank will have to cause serious pain to Americans and the economy if it sticks to its current path
▼ + stars: | 2023-02-24 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

In the Fed minutes released this week, the central bank's own economists have started to sound the alarm on a recession. Jerome Powell, for his part, has insisted that the Fed's 2% inflation target is set in stone. The jobless rate today stands at 3.4%. We will have other things to worry about at that point besides whether the Fed's inflation target should be 2.0 or 2.75 percent." How realistic do you think the Fed's 2% inflation target is?

☆ The Fed's own economists are ringing the recession alarm - and warning stocks and real estate prices could tumble
▼ + stars: | 2023-02-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The Federal Reserve's staff economists rang the alarm on a potential US recession this year. They called out heady valuations of stocks and real estate, raising the prospect of sharp declines. They singled out real estate and equity valuations as especially stretched, raising the prospect of a sharp contraction. However, they can also pull down asset prices and undercut both growth and employment, increasing the risk of a painful recession. The Fed's staff economists underscored that danger, but predicted a rebound next year.

☆ Fox News exec said 'the North Koreans do a more nuanced show' than the now-fired host Lou Dobbs: lawsuit
▼ + stars: | 2023-02-17 | by ( Cheryl Teh | Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Fox News president Jay Wallace said North Korean propaganda has more nuance than Lou Dobbs. Wallace's comments about Dobbs were cited in a court filing by Dominion Voting Systems. Wallace said in September 2020 that "the North Koreans do a more nuanced show" than Dobbs, per a filing from Dominion Voting Systems released on Thursday. This filing was part of Dominion Voting Systems' defamation lawsuit against Fox News. Dominion Voting Systems has alleged that Fox defamed it by pushing a false conspiracy theory that it manipulated election results.

☆ Exclusive: India economic survey likely to peg 2023-24 growth at slowest in three years - source
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +3 min

MUMBAI, Jan 30 (Reuters) - India's annual pre-budget economic survey is likely to peg GDP growth at 6-6.8% for 2023-24, according to a source. Nominal growth is likely to be forecast at 11% for 2023-24, the source added. An economic survey by Chief Economic Adviser V. Anantha Nageswaran will be tabled in the parliament on Tuesday by Finance Minister Nirmala Sitharaman, a day before she presents the budget for the next fiscal year. The Economic Survey is the government's review of how the economy fared in the past year. The government's economic research department will also likely point to improvement in the financial health of the Indian banking sector as a factor aiding economic growth.

☆ North Korea calls U.S. pledge of tanks to Ukraine 'unethical crime'
▼ + stars: | 2023-01-29 | by ( Josh Smith | ) www.reuters.com time to read: +2 min

SEOUL, Jan 29 (Reuters) - North Korea on Sunday criticized for a second day a U.S. decision to send tanks to Ukraine, calling it an "unethical crime" aimed at perpetuating an unstable international situation. Washington's allegations that North Korea has provided arms to Russia are a "groundless rumor" to justify its own military aid to Ukraine, Kwon Chung-keun, director of U.S. affairs at North Korea's Ministry of Foreign Affairs, said in a statement carried by state news agency KCNA. "This is an unethical crime aimed at keeping the international situation unstable." Nuclear-armed North Korea launched an unprecedented number of missiles last year, including intercontinental ballistic missiles (ICBMs) capable of reaching the U.S. mainland. The White House said in December that North Korea completed an initial arms delivery of infantry rockets and missiles to a private Russian military company, the Wagner Group, to shore up Russian forces in Ukraine.

☆ Tyre Nichols: After his fatal beating ignited rage, Memphis streets remained calm despite warnings
▼ + stars: | 2023-01-29 | by ( Haven Orecchio-Egresitz | ) www.businessinsider.com time to read: +12 min

Some residents told Insider they hunkered down all of Saturday expecting the worst. "It could have been me," he told Insider, asking only to be identified by his first name in fear of his job. Demonstrators protest in Memphis on Jan. 28, 2023 following the release of video showing the deadly encounter between Tyre Nichols and police. Demonstrators protest in Memphis on Jan. 28, 2023 following the release of video showing the deadly encounter between Tyre Nichols and police. Demonstrators protest in Memphis on Jan. 28, 2023 following the release of video showing the deadly encounter between Tyre Nichols and police.

☆ Congressional Budget Office to issue debt limit, budget forecasts on Feb. 15
▼ + stars: | 2023-01-25 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 25 (Reuters) - The Congressional Budget Office (CBO) said on Wednesday that it plans to release its 2023 baseline budget and economic forecast on Feb. 15, along with a special report on the federal debt limit situation. The non-partisan CBO said the debt limit report, part of a recurring series during debt limit standoffs in Congress, will describe "the current debt situation and CBO's expectation about when the Treasury will no longer be able to pay its obligations fully if the debt limit is not raised." The agency annually provides the baseline fiscal forecast based on current tax and spending laws and its assessment of current economic conditions to kick off Congress' budgeting and appropriations processes. The U.S. budget deficit for December quadrupled from a year earlier to $85 billion as revenues eased and outlays for debt interest costs, health care and Social Security grew. RReporting by David Lawder; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

[1/2] A logo is pictured on the Ibex building of Lonza, where the Moderna mRNA coronavirus disease (COVID-19) vaccine will be produced, in Visp, Switzerland, September 29, 2020. REUTERS/Denis Balibouse/File PhotoJan 25 (Reuters) - Lonza (LONN.S) on Wednesday said it will buy back shares worth 2 billion Swiss francs ($2.17 billion), despite an expected drop in annual margins, as the Swiss drug contract manufacturer backed its growth prospects for the near future. Lonza expects its 2023 core earnings before interest, depreciation and amortization, or EBITDA margin, to slip between 30% and 31%, down from 32.1% in 2022, as last year's boost from COVID-19 vaccine manufacturing services waned. The Basel-based company, however, reiterated a target of 33%-35% for 2024 marginsand announced a 17% rise in its annual dividend. The Swiss group forecast sales growth in the "high single-digit" adjusted for currency swings, a slow-down from the 15.1% rise it saw last year.

☆ Djokovic romps on towards 10th Australian title, Linette stuns Pliskova
▼ + stars: | 2023-01-25 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +5 min

Djokovic is making a mockery of the theory that the second week of Grand Slam tournaments get tougher. Fifth seed Rublev has now lost all seven Grand Slam quarter-finals which he contested. "I'm really excited, man. So I'm really grateful." Linette had no problems serving out her quarter-final against twice Grand Slam finalist Pliskova, whose 36 unforced errors sabotaged yet another bid to win a first major.

☆ Japan sees rising interest rates expanding its growing debt pile
▼ + stars: | 2023-01-24 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

The latest projections showed the budget target will be met in fiscal 2026. Rises in interest rates will test the government's ability to service the industrial world's heaviest debt burden at more than double the size of Japan's annual gross domestic product. "We see underlying interest rates to be somewhat higher, which will cause outstanding government debt to deviate upward due to the BOJ's move last month," a Cabinet Office official said. In comparison, the previous estimates issued in July showed long-term rates to stick to 0.1% in fiscal 2022-2025. The projections show that in case long-term interest rates rise by an additional 0.5 percentage-points, that would increase the government debt-to-GDP ratio by 3.3 percentage-points.

☆ Marathon man Murray runs out of steam against Bautista Agut
▼ + stars: | 2023-01-21 | by ( Ian Ransom | ) www.reuters.com time to read: +3 min

Between points against Bautista Agut he shuffled around the baseline like a frail senior citizen but when the ball was in play he threw himself around the court to give the Spaniard a proper scare. My legs were actually OK ... but I was struggling with my lower back," Murray told reporters. With the crowd firmly in his corner, Murray broke Bautista Agut in the first game of the fourth set to raise hopes of levelling the match but he ended up squandering a 2-0 lead before dropping serve in the ninth game. METAL HIPBautista Agut knocked Murray out in the opening round of the tournament four years ago, after the tearful Scot said his hip was shot and his career might be over. "It's more enjoyable for me when I'm playing like that, when I'm coming into a major event and really believing that I can do some damage."

☆ Sinner completes epic comeback, Krejcikova wins easy at Australian Open
▼ + stars: | 2023-01-20 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +3 min

He went on to blank his opponent to draw huge cheers from the crowd on Margaret Court Arena, which had witnessed an epic comeback from Andy Murray only hours earlier. The former world number one was not happy to end his match at 4.05 am on Friday, describing the late finish as a "joke" and "disrespectful." "We'll always look at it, when we do the (tournament) debrief -- like we do every year. Two all-American matches are also scheduled for Saturday, meaning that a total of six American men can advance -- which would be the highest number to reach the last 16 at the Australian Open since 1995. Reporting by Shrivathsa Sridhar in Melbourne; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ NBC News host scoffs at Sen. Ron Johnson after he said the media was biased during a charged interview: 'You can go back on your partisan cable cocoon'
▼ + stars: | 2023-01-16 | by ( Taiyler Simone Mitchell | ) www.businessinsider.com time to read: +3 min

Sen. Ron Johnson appeared on NBC News' "Meet the Press" on Sunday. Johnson and NBC News Host Chuck Todd repeatedly cut each other off throughout the interview. Johnson repeatedly claimed that the media was biased whenever Todd called him out. They make these things up," Johnson told Todd, later refuting the idea that the recent insurrection in Brazil looked similar to the January 6, 2021 insurrection. "Senator Ron Johnson, I look forward to our face-to-face at some point.

☆ I made $163,000 in revenue in one year as a freelance writer. Here are 5 game-changers I wish I knew sooner in my career.
▼ + stars: | 2023-01-13 | by ( Dorothy Cucci | ) www.businessinsider.com time to read: +6 min

I went back to full-time freelancing in January 2020, and last year, I made about $163,000 in revenue. Here's what I wish I knew sooner about making it as a freelance writer. Make sure that everyone in your corner knows that you're freelancing and that you're looking for work, and don't be shy about reminding them of that. I never went back to working a full-time job because I love the freedom and sense of job security freelancing gives me, especially in a dicey economy. If I were laid off from a full-time job, my entire income would get taken away all at once.

The wealth gap remains a harsh reality for women of color, which makes it harder to build wealth. "Decide on what you're going to save and invest on a monthly basis," she says. You might not have been exposed to building wealth, the tenets of investing and paying taxes, and basic financial planning. Don't worry about getting it perfectFor first-generation women of color, it starts with learning more and doing more. You're going to make mistakes and you're going to trip along the way.

☆ 4 SEO strategies that'll supercharge your website's ranking, from real small business owners who use them
▼ + stars: | 2023-01-10 | by ( Erin Greenawald | ) www.businessinsider.com time to read: +8 min

SEO can be a cheap and effective way to drive traffic to your small business's website. Business owners and SEO experts said a good URL and strong meta descriptions are key. This article is part of "Marketing for Small Business," a series exploring the basics of marketing strategy for SBOs to earn new customers and grow their business. Small business owners and SEO experts shared with Insider the strategies that have helped them improve their site rankings over time and build a meaningful flow of organic traffic from search. "SEO grows over time," Fabio added, "so by 12 months, you should see much stronger results than at six months."

Mortgage borrowing limits are the same in all Alabama counties. Mortgage borrowing limits in Alabama are the same in every county in 2022: $726,200 for conforming mortgages and $472,030 for FHA mortgages. How do mortgage borrowing limits work? If you want to buy a home that costs more than the conforming mortgage limit in your county, you'll need to get a jumbo mortgage. Alabama borrowing limits in 2023 by countyCounty Conforming mortgage limit (single-family home) FHA mortgage limit (single-family home) Autauga $726,200 $472,030 Baldwin $726,200 $472,030 Barbour $726,200 $472,030 Bibb $726,200 $472,030 Blount $726,200 $472,030 Bullock $726,200 $472,030 Butler $726,200 $472,030 Calhoun $726,200 $472,030 Chambers $726,200 $472,030 Cherokee $726,200 $472,030 Chilton $726,200 $472,030 Choctaw $726,200 $472,030 Clarke $726,200 $472,030 Clay $726,200 $472,030 Cleburne $726,200 $472,030 Coffee $726,200 $472,030 Colbert $726,200 $472,030 Conecuh $726,200 $472,030 Coosa $726,200 $472,030 Covington $726,200 $472,030 Crenshaw $726,200 $472,030 Cullman $726,200 $472,030 Dale $726,200 $472,030 Dallas $726,200 $472,030 DeKalb $726,200 $472,030 Elmore $726,200 $472,030 Escambia $726,200 $472,030 Etowah $726,200 $472,030 Fayette $726,200 $472,030 Franklin $726,200 $472,030 Geneva $726,200 $472,030 Greene $726,200 $472,030 Hale $726,200 $472,030 Henry $726,200 $472,030 Houston $726,200 $472,030 Jackson $726,200 $472,030 Jefferson $726,200 $472,030 Lamar $726,200 $472,030 Lauderdale $726,200 $472,030 Lawrence $726,200 $472,030 Lee $726,200 $472,030 Limeston $726,200 $472,030 Lowndes $726,200 $472,030 Macon $726,200 $472,030 Madison $726,200 $472,030 Marengo $726,200 $472,030 Marion $726,200 $472,030 Marshall $726,200 $472,030 Mobile $726,200 $472,030 Monroe $726,200 $472,030 Montgomery $726,200 $472,030 Morgan $726,200 $472,030 Perry $726,200 $472,030 Pickens $726,200 $472,030 Pike $726,200 $472,030 Randolph $726,200 $472,030 Russell $726,200 $472,030 St. Clair $726,200 $472,030 Shelby $726,200 $472,030 Sumter $726,200 $472,030 Talladega $726,200 $472,030 Tallapoosa $726,200 $472,030 Tuscaloosa $726,200 $472,030 Walker $726,200 $472,030 Washington $726,200 $472,030 Wilcox $726,200 $472,030 Winston $726,200 $472,030Note: In every county in Alabama, if you want to borrow more than the baseline loan limit of $726,200, you'll need to get a jumbo mortgage.

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