The ongoing banking crisis could trigger a credit crunch and an economic crash, Allianz has warned. Nikolas Liepins/Anadolu Agency via Getty Images The US economy is going to crash-land into a recession in the second half of 2023, according to ...
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‘Dr. Doom’ Nouriel Roubini says Fed rate hikes are a ‘megathreat’ to the US economy
BrightNouriel Roubini AP Images Nouriel Roubini says the economy is headed for a crash. The “Dr. Doom” economist says interest rate hikes and a mountain of debt will lead the US into a recession. In an interview with Bloomberg, Roubini ...
The Nasdaq just entered a bull market as the Fed fuels tech stocks toward their 2nd-best quarter in a decade
BrightTraders work on the floor of the New York Stock Exchange (NYSE) on October 27, 2022 in New York City. Spencer Platt/Getty Images The Nasdaq 100 entered a bull market on Wednesday, rallying more than 20% from its December low. ...
‘Shark Tank’ investor Kevin O’Leary says the demise of regional banks has begun after the US set a bad precedent in protecting ‘incompetent’ SVB management
BrightInvestor Kevin O’Leary on ABC’s “Shark Tank”. “Shark Tank”/ABC “Shark Tank” investor Kevin O’Leary said the start of the demise of regional banks is underway. Eventually, the banking sector will become an “oligopoly” of very large institutions. “I have come ...
The 30-year fixed mortgage rate drops to a 6-week low as banking turmoil sent bond yields tumbling in March
BrightA man walks past open house signs in front of condominiums for sale in Santa Monica, California. Reuters/Lucy Nicholson The 30-year fixed mortgage rate fell to its lowest in six weeks, tracking falling bond yields. The rate fell to 6.45%, ...
Mike Novogratz challenges Steve Hanke after the top economist bashes bitcoin as a ‘fool’s game’
BrightMike Novogratz is one of the most high-profile bitcoin and crypto investors. John Lamparski/Getty Images Galaxy Digital CEO Mike Novogratz has pushed back against economist Steve Hanke’s Twitter criticism of bitcoin. Novogratz defended the cryptocurrency after Hanke slammed it as ...
Bitcoin and Ether are down 3% after CFTC sued Binance and its CEO over US regulatory violations
BrightThe CFTC has sued Binance and its CEO Changpeng Zhao, or CZ. Ben McShane/Sportsfile for Web Summit via Getty Images Cryptocurrencies are trading lower after CFTC sued major exchange Binance for regulatory violations. Bitcoin and Ether are trading around $27,000 ...
Coinbase is encouraging developers to work on ‘flatcoins’ that will keep pace with inflation
BrightCoinbase Global watch as their listing is displayed on the Nasdaq MarketSite at Times Square in New York on April 14, 2021. Shannon Stapleton/Reuters In a recent blog post, Coinbase encouraged developers to work on “flatcoins” that keep pace with ...
Warren Buffett missed out on a monster return by not investing in Tesla early on, Elon Musk says
BrightWarren Buffett. REUTERS/Rebecca Cook Warren Buffett missed out on a monster return by not betting on Tesla early on, Elon Musk says. The investor could have bought into the EV Maker at less than 0.1% of its current market value. ...
First Citizens just bought Silicon Valley Bank – here’s everything you need to know about the latest twist in the banking turmoil
BrightFirst Citizens BancShares agreed to take over collapsed lender Silicon Valley Bank on Sunday. Getty Images First Citizens Bank agreed to buy most of Silicon Valley Bank on Sunday. The Raleigh, NC-based bank now owns 17 branches of SVB and ...