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☆ Right-wing pundits and Russian state media were duped by a fake Trump press release hailing his imminent return to Twitter
▼ + stars: | 2022-10-28 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +3 min

A fake press release announcing Trump's return to Twitter began circulating online Thursday night. The fake statement also duped Russian state media and a left-leaning MSNBC show. The fake statement appeared shortly after Elon Musk sealed his $44 billion deal to buy Twitter. TASS, the Russian state-controlled news agency, reported the claim in the fake statement that Trump's blocked Twitter account would be unlocked Monday. Robby Starbuck, another right-wing commentator, said he'd been duped after a news site posted the fake statement.

☆ Here’s what a new Biden administration labor proposal would mean for independent contractors
▼ + stars: | 2022-10-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Rudi_suardi | E+ | Getty ImagesThe Biden administration will soon issue a rule that may make it easier for workers to be considered "employees" instead of "independent contractors." Misclassification of workers as independent contractors — also known as freelancers or the self-employed — instead of employees is happening across many industries, like construction, health care, restaurants, retail and transportation, Labor Department officials said Tuesday. Employers may benefit financially by classifying their workforce as contractors instead of employees. These companies often classify gig workers as independent contractors. Federal action would especially be a boon to "low-wage, vulnerable workers," Labor Department officials said.

☆ Premarket stocks: White-collar workers are feeling the brunt of the Fed's rate hikes
▼ + stars: | 2022-10-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Stocks fell sharply as investors evaluated the report, which showed more jobs than expected were added to the US economy and indicated that more pain-inflicting interest rate hikes from the Federal Reserve lie ahead. White-collar office workers appear to be feeling the brunt of the Fed’s actions: The financial and business sector saw a large decline in employment last month. What’s happening: The US economy added 263,000 jobs in September, higher than analyst estimates of 250,000. Business support services — such as telemarketing, accounting and administrative and clerical jobs — are also bleeding jobs. Meanwhile, legal services lost 5,000 jobs, and advertising services also dropped 5,000 jobs.

☆ FASB Extends Accounting Relief as Companies Switch From Libor
▼ + stars: | 2022-10-05 | by ( Mark Maurer | ) www.wsj.com time to read: +4 min

The Financial Accounting Standards Board allowed companies to continue ignoring certain rules around modifying loan contracts and accounting for hedges of interest-rate risks as they move away from the London interbank offered rate. Libor and other benchmarks underpin trillions of dollars of financial contracts, including corporate loans, mortgages and interest-rate derivatives. PREVIEWThe FASB initially gave companies relief in March 2020, in an effort to help them work through the large volumes of financial contracts they needed to update or renegotiate as part of their preparations to abandon Libor. U.S. banks stopped issuing new financial contracts using Libor at the end of last year. Companies are considering which version of SOFR to switch to from Libor.

"There will be impacts, there’s correlations ... some market volatility, and then how it weighs in the global growth picture," said Paul Malloy, head of municipals at Vanguard. The wild swings in the pound have ricocheted across currency markets, where volatility was already climbing. According to the widely watched Deutsche Bank Currency Volatility Index , volatility across currencies on Wednesday hit its highest level since the March 2020 COVID-19- induced market meltdown, jumping more than 20% from levels last week. Closely followed indicators of financial stress remain contained. U.S. stock market volatility as measured by the "fear index," the VIX (.VIX), has also climbed in recent days but remains below its 2022 highs.

☆ 3 takeaways from our daily meeting: Market stabilization, putting cash to work, Macao reopening
▼ + stars: | 2022-09-26 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. The market has a chance to stabilize Putting money to work in the oversold market China loosens some Covid rules 1. Putting money to work in the oversold market Following Friday's sell-off, the S & P Oscillator showed the market to be at its most oversold level since mid-June. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Central banks unleash 350 basis points more of rate hikes in inflation fight
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +6 min

Central banks in the 10 big developed economies have raised rates by a combined 1,965 basis points in this cycle to date, with Japan the holdout "dove", sticking on Thursday with its ultra-low rates policy. read moreThe Fed's new projections showed its policy rate rising to 4.4% by year-end, before peaking at 4.6% in 2023. read moreOn Sept. 7, the BoC hiked its policy rate to 3.25%, its highest level in 14 years. Canada was the first among the world's advanced economies in the current policy-tightening cycle to deliver a 100 bps rate. That implies at least one more 50 bps rate hike at upcoming meetings.

RAMALLAH, West Bank—Palestinian Authority security forces clashed with armed groups and gangs of young men who were hurling stones in the city of Nablus on Tuesday, as unrest intensified in the West Bank amid a series of Israeli military raids and arrests of militants. The early-morning gunbattles left at least one Palestinian dead and demonstrated how the Western-backed Palestinian Authority is losing control of northern parts of the West Bank, where officials say there is a growing but diffuse movement that is hostile to both the Israeli occupation and a Palestinian governing body seen by many of its subjects as corrupt and ineffective.

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