Business

US stocks jump at the start of the new quarter as bond yields fall

US stocks jump at the start of the new quarter as bond yields fall

US equities rose on the first day of the fourth quarter, posting their biggest daily gain since August after the UK government on Monday abandoned its plans for an unfunded tax cut that had deterred investors and rocked bond markets. Wall Street’s benchmark S&P 500 stock index closed 2.6 percent higher, while the tech-heavy Nasdaq …

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Construction spending soars, record non-residential hits, residential parking after blistering

Construction spending soars, record non-residential hits, residential parking after blistering

At much lower levels, office construction totters on, amid a plethora of vacant offices. By Wolf Richter for WOLF STREET. Construction spending — residential and non-residential — soared to a record $165.5 billion (not seasonally adjusted) in August, according to estimates from the Census Bureau today. Seasonal construction spending peaks around this time of year. …

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Chinese billionaire Richard Liu settles sexual assault lawsuit filed by Minnesota student

Chinese billionaire Richard Liu settles sexual assault lawsuit filed by Minnesota student

Chinese billionaire Liu Qiandong has settled a case with Liu Jingyao, a University of Minnesota graduate who accused him of raping her in Minneapolis in 2018. The settlement, which was announced by lawyers for both sides on Saturday, two days before the civil trial was due to start on Monday, has not been disclosed, according …

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Treasury's financial stability watchdog warns that cryptocurrencies could threaten the security of the US economy

Treasury’s financial stability watchdog warns that cryptocurrencies could threaten the security of the US economy

The Treasury Department warned Monday that unregulated cryptocurrencies could pose a risk to the US financial system. The warning was part of the first major public report released by the Treasury’s Financial Stability Oversight Council on digital assets. The council identified digital or “crypto” assets, such as stablecoins, as well as lending and borrowing on …

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Treasury's financial stability watchdog warns that cryptocurrencies could threaten the security of the US economy

Treasury’s financial stability watchdog warns that cryptocurrencies could threaten the security of the US economy

The Treasury Department warned Monday that unregulated cryptocurrencies could pose a risk to the US financial system. The warning was part of the first major public report released by the Treasury’s Financial Stability Oversight Council on digital assets. The council identified digital or “crypto” assets, such as stablecoins, as well as lending and borrowing on …

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UN urges Fed to pause rate hikes over global recession fears

UN urges Fed to pause rate hikes over global recession fears

Wilmington Trust chief economist Luke Tilley and Fitz-Gerald Group director Keith Fitz-Gerald debate how the stock market will perform in the fourth quarter and whether the Fed will continue to raise interest rates on ‘The Claman Countdown’. The Federal Reserve and other major central banks risk triggering a painful global recession followed by a period …

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UN urges Fed to pause rate hikes over global recession fears

UN urges Fed to pause rate hikes over global recession fears

Wilmington Trust chief economist Luke Tilley and Fitz-Gerald Group director Keith Fitz-Gerald debate how the stock market will perform in the fourth quarter and whether the Fed will continue to raise interest rates on ‘The Claman Countdown’. The Federal Reserve and other major central banks risk triggering a painful global recession followed by a period …

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Zelle fraud on the rise, according to Massachusetts senator

Zelle fraud on the rise, according to Massachusetts senator

See what’s clicking on FoxBusiness.com A report from the office of Democratic Massachusetts Senator Elizabeth Warren, alleged fraud and scam incidents at the Zelle payment service are on the rise. The report, released Monday, cites data from four banks that counted 192,878 cases worth a combined $213.8 million in 2021 and the first half of …

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Wall Street closes with strong gains at the start of the last quarter

Wall Street closes with strong gains at the start of the last quarter

US factory activity slows in ~2.5 years in September -ISM Credit Suisse and Citi lower year-end 2022 target for S&P 500 Dow, S&P 500, Nasdaq up Oct. 3 (Reuters) – Wall Street stocks closed sharp gains Monday as the start of the final quarter of a tumultuous year of rate hikes amid historically high inflation …

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Kim Kardashian sued by SEC, agrees to pay $1.3 million fine |  CNN Business

Kim Kardashian sued by SEC, agrees to pay $1.3 million fine | CNN Business

New York CNN Business — Kim Kardashian agreed to pay a $1.26 million fine to the Securities and Exchange Commission to settle civil charges after the reality TV star touted a crypto asset, EthereumMax, on Instagram. The SEC accused Kardashian of failing to disclose that she was paid $250,000 to publish her Instagram post. In …

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