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☆ What King Charles' coronation means for the UK economy
▼ + stars: | 2023-05-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +8 min

But the UK economy as a whole could suffer as workers take an extra day’s holiday. John Lewis' Coronation Lewis Bear. John Lewis & PartnersDepartment store John Lewis has had to limit in-store purchases of its Coronation Lewis Bear to two per household, and the teddy is out of stock online. For the coronation, UK luxury brands “have procured unique merchandise at all levels of the economy and we’re seeing people buying it, particularly Americans and EU customers,” she added. (The coronation holiday will be the third holiday Monday this month.)

☆ Nobel economist Paul Krugman says minting a $1 trillion coin to prevent a debt ceiling crisis wouldn't be inflationary
▼ + stars: | 2023-05-03 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The US could mint a platinum coin to solve the debt crisis without worsening inflation, Paul Krugman said. The top economist said the inflationary effects of the coin would be offset by the Fed selling bonds. "But as I said, people who really should know better constantly get this wrong, and imagine that the coin would be inflationary." Some economists have criticized a $1 trillion coin as "unworkable" and an unrealistic solution that could worsen inflation. For his part, Krugman thinks the government is more likely to issue "premium bonds" to avoid default than mint a $1 trillion coin.

☆ Gold hovers above $2,000 as Fed rate decision looms
▼ + stars: | 2023-05-03 | by ( ) www.cnbc.com time to read: +2 min

Gold prices held steady above the key $2,000 level on Wednesday, while investors turned their attention to the U.S. Federal Reserve's interest rate decision due later in the day. The Fed's rate decision will be announced at 1800 GMT. Bullion is known as a hedge against inflation and economic turbulence, but higher rates tend to dent zero-yielding asset's appeal. On the physical front, Perth Mint's April gold product sales slipped more than 6% month-on-month, while silver sales hit a six-month peak. Analysts have cut their forecasts for palladium after a 60% price fall, but rising vehicle production should limit any sell-off, a Reuters poll showed.

☆ Gold prices flat on caution ahead of Fed meeting
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: +1 min

Gold prices were flat on Tuesday, as cautious market participants awaited fresh cues from top central banks on their monetary policy plans, especially from the U.S. Federal Reserve. The Fed, which meets on May 2-3, is widely expected to raise interest rates by 25 basis points. Gold prices could move towards $2,000 if the Fed highlights recession worries and hints at a pause in the rate hike cycle, said Ajay Kedia, director at Kedia Commodities in Mumbai. U.S. manufacturing contracted in April but there was a build-up of inflation pressures, supporting expectations of Fed rate hike, according to data released on Monday. In the previous session, gold prices briefly rose above $2,000 after JP Morgan's acquisition of First Republic Bank's assets.

☆ King Charles' coronation is a great fit for London's Savile Row tailors
▼ + stars: | 2023-05-02 | by ( Kate Holton | ) www.reuters.com time to read: +4 min

[1/5] Handmade suits are seen at Anderson & Sheppard tailor on Savile Row, ahead of the Coronation of King Charles and Queen Camilla, in London, Britain, April 27, 2023. REUTERS/Dylan MartinezLONDON, May 2 (Reuters) - On Savile Row, the London street long celebrated for turning out sharp suits, tailors have been racing to prepare the red and gold uniforms that will feature in Britain's first coronation for 70 years, adorned with the new insignia of King Charles. Savile Row tailors have dressed kings, queens and their offspring for more than 150 years, and their craft gets a particular boost from long-time customer Charles - a lover of the countryside who also champions the farmers, weavers and mills producing much of the fabric. 'SLOWEST FASHION'Henry Poole, credited with creating the dinner jacket, or tuxedo, has held a British royal warrant since the 1860s when it supplied Queen Victoria. "The sustainability side of that is a major part of what Savile Row has always had," he said.

☆ As cost of living crisis bites, some Brits are questioning spending money on glitzy coronation As cost of living crisis bites, some Brits are questioning spending money on glitzy coronation
▼ + stars: | 2023-05-02 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +18 min

The church operates the cafe alongside a food bank which offers free food, clothes, household items and other necessities to locals who are struggling. When it first opened before the pandemic, the food bank was serving mostly homeless people. Liz Coopey, left, a volunteer at the Given Freely Freely Given food bank in Doncaster, helps local resident Angela Davis with her shopping bags. The Given Freely Freely Given food bank in Doncaster offers its clients other items than just food, including household goods and clothing. Liz Coopey, one of the volunteers there, said she understands the idea of having to rely on a food bank might be scary to many.

☆ How asset managers see the investment outlook at Milken
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +2 min

[1/4] Edwin Conway Global Head, BlackRock Alternatives, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. REUTERS/Mike BlakeBEVERLY HILLS, May 1 (Reuters) - Big money managers gathered at the Milken Institute Global Conference, in Beverly Hills, California, on Monday to discuss the environment for investments amid higher interest rates, sticky inflation, banking turmoil and geopolitical tension. KAREN KARNIOL-TAMBOUR, CO-CIO AT BRIDGEWATER ASSOCIATES"The problem is that when you get paradigm shifts that really change the nature of the market environment, it takes a long time for that to get fully digested by investors." So fixed income long-short hedge fund managers feel that there's going to be very interesting distressed opportunities in eight, ten, twelve months." Reporting by Carolina Mandl and Svea Herbst-Bayliss, in Beverly Hills; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: U.S. debt ceiling standoff: Platinum coins, the 14th Amendment could be paths out
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +5 min

14TH AMENDMENTSection Four of 14th Amendment to the U.S. Constitution, adopted after the 1861-1865 Civil War, states that the "validity of the public debt of the United States ... shall not be questioned." Some experts have suggested that Biden could invoke this amendment to raise the debt ceiling on his own if Congress does not act. BYPASS REPUBLICAN LEADERSHIPDemocrats and rank-and-file Republican allies in the House could bypass McCarthy and force a vote on a "clean" debt ceiling increase, free of spending cuts or other conditions. GET RID OF ITCongress could vote to abolish the debt ceiling entirely, which would eliminate the need to vote on the issue periodically but also erode Congress's authority on fiscal matters. Attempts to abolish the debt ceiling have gotten no traction in Congress in recent years.

[1/2] Ford Super Duty trucks are seen at the Kentucky Truck assembly plant in Louisville, Kentucky, U.S., April 27, 2023. REUTERS/Joseph WhiteLOUISVILLE, Kentucky, May 1 (Reuters) - Shutting down the assembly lines that build Super Duty pickup trucks at Ford Motor Co's (F.N) Kentucky Truck Plant is a multimillion-dollar action company managers try hard to avoid. As part of a new approach to stamping out quality demons, Kentucky Truck Plant manager Joseph Closurdo said he stopped production for as long as three days earlier this year. Slashing the tax that quality problems levy on Ford's profitability has become Job One for Chief Executive Jim Farley. We did not start shipping until we saw consistent delivery on those targets," Super Duty Chief Engineer Andrew Kernahan told Reuters.

SummarySummary Companies Dollar up 0.1%Fed likely to raise rate by 25 bps on WednesdayMay 1 (Reuters) - Gold prices dipped on Monday as the U.S. dollar held firm, with traders positioning themselves ahead of a much awaited Federal Reserve rate-hike decision due this week. The dollar index rose 0.1%, making greenback-priced bullion more expensive for overseas buyers. "If the Fed comes out unexpectedly hawkish, then it won't bode well for gold. Gold prices rose more than 1% in April as renewed concerns over the U.S. banking turmoil drove investors to the safe-haven asset. The European Central Bank is widely expected to raise rates for the seventh straight meeting on May 4.

MarriottThe Marriott Bonvoy Business® American Express® Card has increased its welcome bonus to 125,000 bonus Marriott Bonvoy Points after spending $5,000 in purchases within the first three months of card membership (offer ends 5/3/23). With an annual fee of $125, the Marriott Bonvoy Business® American Express® Card is a little pricier than similar hotel credit cards. 6x Marriott Bonvoy Points on each dollar of eligible purchases at hotels participating in the Marriott Bonvoy® program. Awards can be used for one night (redemption level at or under 35,000 Marriott Bonvoy® points) at hotels participating in Marriott Bonvoy®. But even without the elevated welcome bonus offer, the Marriott Bonvoy Business Amex is well worth the annual fee.

Jeremy Selwyn/WPA Pool/Getty Images Camilla stands next to Queen Elizabeth II during a Diamond Jubilee pageant on the River Thames in June 2012. Chris Jackson/Getty Images From left, Camilla, Charles, Queen Elizabeth II and Prince Philip attend the state opening of Parliament in May 2013. From left are Camilla, Charles, Queen Elizabeth II, Prince Louis, Duchess Catherine, Princess Charlotte, Prince George and Prince William. Frank Augstein/WPA Pool/Getty Images In pictures: Britain's Queen Camilla Prev NextShe reportedly met Prince Charles at a polo match in Windsor in 1970 and they became friends. From left are Camilla, Charles, Queen Elizabeth II, Prince Louis, Duchess Catherine, Princess Charlotte, Prince George and Prince William.

☆ The business case for green sports stadiums and arenas is growing
▼ + stars: | 2023-04-29 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

A general exterior view of Climate Pledge Arena before the game between the Seattle Kraken and the Carolina Hurricanes on October 17, 2022. Much like the broader world of commercial real estate, arenas, and stadiums have been slowly adopting sustainable practices over the last few decades, from recycling programs to energy efficiency efforts. That led to what has become the Climate Pledge Arena. AMBSE has even created a "playbook" for other stadium operators to follow if they also want to get to zero waste. It's reached a level of critical mass where people have moved past greenwashing, and they're making substantive changes to their business practices," Cannon said.

SummarySummary Companies Silver, platinum, palladium set for monthly gainDollar eyes monthly fallApril 28 (Reuters) - Gold prices eased on Friday as the dollar firmed in the run up to U.S. inflation data, but economic jitters kept safe-haven bullion on course for a second consecutive monthly rise. Spot gold edged 0.2% lower to $1,983.01 per ounce by 0915 GMT, but was up 0.8% for the month. But "a sudden deterioration in the bank sector crisis could trigger a rush to safe-havens likely to see gold prices soar above previous records," Evangelista added. A weaker dollar makes bullion more affordable for overseas buyers. Silver fell 0.5% to $24.82, platinum shed 1% to $1,066.57, while palladium was flat at $1,495.13 -- all headed for monthly gain.

☆ Gold posts second monthly rise on U.S. banking turmoil
▼ + stars: | 2023-04-28 | by ( ) www.cnbc.com time to read: +2 min

Bars of gold are seen at the Krastsvetmet company, one of the world's largest producers of precious metals in Moscow, Russia on January 31, 2023. Gold bounced back on Friday on a dip in yields and renewed concerns over the U.S. banking turmoil, putting the safe haven on course for its second monthly rise even as steady U.S. inflation reinforced bets for an interest rate hike next week. U.S. gold futures settled up flat at 1,999.1 on Friday and 0.43% for the week. But the data also indicated that the underlying price pressures remained strong, prompting traders to add to bets for a rate hike next week. Gold had scaled a one-year peak of $2,048.71 in mid-April as the banking crisis unfolded.

☆ Ron Insana says 'to-the-death' struggles over the debt ceiling do little to solve the problems the U.S. faces, but this could
▼ + stars: | 2023-04-28 | by ( Ron Insana | ) www.cnbc.com time to read: +5 min

A little over a decade ago, the U.S. nearly defaulted on its federal obligations in an unnecessary fight over raising the nation's debt limit. Well, here we are again, with House Republicans, Senate Democrats and the White House locked in a to-the-death struggle over raising the debt ceiling again or defaulting on U.S. bills. This would leave the U.S. unable to pay Social Security, or other mandated bills, or even miss an interest payment on its outstanding debt. The White House remains unwilling to negotiate over a House-passed plan that guts veteran benefits, food stamps and other social programs. I would seek a permanent hike in the debt limit, so the bills will be paid on time, and then follow the recommendations of Alan Simpson and Erskine Bowles.

☆ Gold rises on subdued dollar, US data in spotlight
▼ + stars: | 2023-04-27 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold rose 0.4% to $1,996.50 per ounce by 0230 GMT, while U.S. gold futures climbed 0.5% to $2,005.20. Making bullion less expensive for other currencies holders, the dollar index eased 0.1% on the day. The U.S. House of Representatives on Wednesday narrowly passed a bill to raise the government's $31.4 trillion debt ceiling. Therefore, given the "uneasy tone with the banking situation" and the "debt ceiling uncertainties, gold will probably be more sensitive to the upside than to the downside," Meir said. Elsewhere, spot silver rose 0.5% to $25.02 per ounce, platinum added 0.3% to $1,092.68, and palladium ticked 0.1% up to $1,513.81.

☆ Gold climbs on subdued dollar, U.S. data in spotlight
▼ + stars: | 2023-04-27 | by ( ) www.cnbc.com time to read: +2 min

Pure 1,000-gram gold bars produced by South Korea's LS-Nikko are stacked in a dealers room in Seoul on January 9, 2009. Gold prices rose on Thursday as a softer dollar rekindled some of bullion's appeal for overseas buyers, while investors braced for a host of U.S. economic data ahead of a crucial Federal Reserve policy meeting next week. Spot gold rose 0.48% to $1,999.01 per ounce by 448 GMT, while U.S. gold futures climbed 0.6% to $2,008.10. Safe-haven gold scaled an over one-year peak at $2,048.71 in mid-April, as the banking crisis unfolded and weak U.S. economic readings bolstered bets for a pause in interest rate hikes. Brian Lan, managing director at gold dealer GoldSilver Central in Singapore said, a lot is hinged on the Fed's interest rate decision in May, and gold could see more volatility due to the dollar.

To help you see if Bank of America or TD Bank is right for you, we're comparing each institution's bank accounts. Compare TD Bank and Bank of America TD BankBank of America Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Winner: TD Bank The TD Bank Convenience Checking Account has a lower minimum opening deposit and minimum balance requirement than the Bank of America Advantage Plus Checking Account. Winner: TD Bank TD Bank will likely be a better choice for CDs, particularly, if you like to open a special type of CD or a CD with a low initial deposit. TD Bank vs. Bank of America: Frequently Asked QuestionsIs Bank of America better, or TD Bank?

☆ The Citi AAdvantage Platinum Select is offering 75,000 American Airlines miles (worth over $1,000 in flights), but it's your last chance to apply
▼ + stars: | 2023-04-27 | by ( Jasmin Baron | Sarah Silbert | Read More | ) www.businessinsider.com time to read: +13 min

For a limited time, the Citi® / AAdvantage® Platinum Select® World Elite Mastercard® is offering 75,000 American Airlines AAdvantage® bonus miles after spending $3,500 in purchases within the first four months of account opening. Details Rewards Earn 2 AAdvantage® miles for every $1 spent at gas stations and restaurants, and on eligible American Airlines purchases. The welcome bonus of 75,000 American Airlines AAdvantage® bonus miles after spending $3,500 in purchases within the first four months of account opening is worth around $1,050 in flights, based on Insider's valuation of American Airlines miles as worth 1.4 cents each, on average. That said, American Airlines miles aren't just good for flights on AA, and its partner award chart is intact for now. American is part of the Oneworld alliance and partners with other carriers, so you can redeem American Airlines miles for flights on over 20 airlines, including Alaska Airlines, British Airways, Cathay Pacific, and Japan Airlines.

The IHG Premier Business Card now has one of the most valuable bonuses of any hotel credit card on the market. IHG; Chase; InsiderThe IHG® Rewards Premier Business Credit Card is currently offering an increased bonus for a limited time. Here's what you need to know before jumping on the increased IHG® Rewards Premier Business Credit Card bonus. The IHG Rewards Business Card is worth keeping year after yearThe IHG® Rewards Premier Business Credit Card comes with much more than just a hefty welcome bonus. What to know about the new IHG Business credit card bonusThe IHG® Rewards Premier Business Credit Card now comes with an abnormally large bonus worth an average of $1,073 in hotel stays.

☆ Royal castles to luxury getaways: How to spend King Charles III's coronation weekend
▼ + stars: | 2023-04-26 | by ( Karen Gilchrist | Rob Goss | ) www.cnbc.com time to read: +7 min

The king has pledged a more scaled-back affair than that celebrated by his mother, the late Queen Elizabeth II, in 1953. Here's CNBC Travel's top picks for how to spend the coronation weekend. Watch the ceremonial processionThe coronation will take place at Westminster Abbey on May 6 in a service conducted by the Archbishop of Canterbury. Buckingham Palace, London residence of the reigning monarch of the United Kingdom, is open for tours outside of the coronation weekend. Picnic in the Royal ParksLondon's Royal Parks offer a more low-key way to absorb the royal atmosphere over the coronation weekend.

☆ Gold holds tight range as traders seek direction from U.S. data
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: +2 min

Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea. Gold prices moved in a tight range on Wednesday, with recessionary fears lending some support to the safe-haven asset, while investors sought more clarity on the Federal Reserve's rate-hike trajectory from U.S. economic data due this week. Recessionary fears already seem to be providing a floor for gold prices, and "Friday's personal consumption expenditures report will likely pack the biggest punch for gold," Simpson added. Market participants expect the Fed to hike interest rates by 25 basis points. Although gold is considered a hedge against inflation and economic uncertainty, higher interest rates dim the non-yielding asset's appeal.

☆ Gold holds tight range as traders seek direction from US data
▼ + stars: | 2023-04-26 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold held its ground at $1,997.40 per ounce by 0307 GMT. Investors seemed reluctant to offload their gold holdings amid weak U.S. economic data, and "trading conditions will remain choppy, and any dips towards $1,950 could be snapped up," said Matt Simpson, a senior market analyst at City Index. Recessionary fears already seem to be providing a floor for gold prices, and "Friday's personal consumption expenditures report will likely pack the biggest punch for gold," Simpson added. Although gold is considered a hedge against inflation and economic uncertainty, higher interest rates dim the non-yielding asset's appeal. Palladium gained 1.1% to $1,499.47, on track to snap two session of losses, if gains hold.

☆ Gold rises as traders hunker down for economic cues
▼ + stars: | 2023-04-25 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was up 0.35% to $1,996.12 per ounce, while U.S. gold futures settled 0.34% higher at $2,006.60. The rival safe-haven dollar rose 0.5%, making bullion more expensive for buyers holding other currencies, while benchmark 10-year Treasury yields fell by their largest amount since March. A weak U.S. consumer confidence report and lackluster manufacturing data fanned fears of economic slowdown, lowering the bets for a rate hike next week. While gold is considered a safe haven during economic uncertainties, higher interest rates dull appeal for zero-yield bullion. Traders also took stock of U.S. Treasury Secretary Janet Yellen's warning that failure by Congress to raise the government's debt ceiling would trigger an "economic catastrophe" that would send interest rates higher for years to come.

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