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Retail investors are pouring record amounts into US stocks, potentially giving small traders even greater sway over markets than at the height of the “meme-stock” mania two years ago. Then, an army of bored amateur traders trapped at home during the pandemic drove up the share prices of several small, struggling consumer companies such as
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The persistent scarcity of foreign exchange may force the Nigerian central bank to delay repaying the $10.4 billion owed to local banks, analysts at Moody’s Investors Service have concluded. The central bank’s failure to pay its debts on time will likely force the affected financial institutions to similarly delay paying back their own forex-denominated debts.
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It’s not easy being a contrarian. Generally, it is one of the most reliable tricks in the book: when risky markets are euphoric, sell. When they are in the depths of despair, buy. That is always a subjective process. Right now, though, measures of the mood are throwing off so many conflicting signals that this
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New York City is heading to market with the biggest municipal bond deal of the holiday-shortened week, a $677.45 million tax-exempt general obligation bond offering that will refund some outstanding debt.   Lead managers Siebert Williams Shank, BofA Securities and RBC Capital Markets are set to price the fiscal 2023 GOs for institutions on Wednesday
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Colombian courts held one of the first judicial hearings using metaverse tech. María Victoria Quiñones Triana, the magistrate of the Magdalena court, approved the realization of this hearing, using Horizon Worlds technology provided by Meta and virtual avatars to represent participants in the process. Colombian Court Holds Metaversal Judicial Hearings A Colombian court has ostensibly
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Antony Ressler, co-founder of Ares Management, takes photos with students of the AltFinance Fellowship. Marcus Shaw, AltFinance The search for bigger profits and top talent is nothing new on Wall Street, but some firms are turning to an almost untapped resource: historically Black colleges and universities, or HBCUs. The AltFinance Fellowship is the brainchild of
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The Chinese balloon that flew over North America and loitered over nuclear missile silos in Montana before it was shot down over the Atlantic inspired a range of emotions among Americans: fear, anger, but also humour. Comedians on Twitter made light of the craft for what to the untrained eye seemed like a lack of
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“I literally know when I walk in the front door,” says Adrienne Arsht, discussing how she knows when she wants to buy a property and the multiple high-profile transactions she has been involved in over several decades. Arsht spoke from her home in Chevy Chase, Maryland which she purchased for $10 million in 2020, down
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Tax-exempt bonds for sports stadiums are once again in the crosshairs under a bill introduced this week by Oregon Democrat Rep. Earl Blumenauer. The bill would amend the tax code – or “close a loophole,” as Blumenauer said – to eliminate the federal tax exemption for bonds that finance or refinance capital expenditures for a
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The US military has wrapped up the salvage operation off the coast of South Carolina to retrieve debris from the suspected Chinese spy balloon that was shot down over the Atlantic two weeks ago. US Northern Command, which is responsible for the defending the American homeland, said the mission was concluded on Thursday after the
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