Finance

Man City was accused of misleading the Premier League over finances

September 20, 2024

LONDON – Manchester City was accused by the Premier League on Monday of providing misleading information about its finances over a nine-year period when the club was attempting to establish itself as a force in English and European soccer following its takeover by Abu Dhabi’s ruling family.

The explosive development came after a four-year investigation by the world’s most popular soccer league in the wake of leaked club emails and documents from City officials, published by German magazine Der Spiegel in 2018. The documents showed the extent of the schemes to allegedly cover up the true source of income in

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Finance

DeFi should complement TradFi, not attack it: Finance Redefined

July 22, 2024

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.

Following FTX’s demise, the DeFi space is up for a complete remodel as crypto users demand better security and compliance practices.

SushiSwap’s roadmap for the coming year includes the development of a decentralized exchange (DEX) aggregator, a decentralized incubator and “several stealth projects.” All these projects combined can grow their market share 10x, said the CEO.

The co-founder and CEO of Ava Labs spoke with Cointelegraph at the World Economic Forum in Davos, Switzerland,

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Jerry
Finance

Nasdaq jumps 2.7% as tech leads Friday inventory rally

July 10, 2024

US shares rallied on Friday, closing out the week on an upbeat be aware, led by robust positive factors within the tech sector.

The S&P 500 (^GSPC) completed Friday up 1.9%, although it nonetheless closed the week down 0.7%. The Dow Jones Industrial Common (^DJI) elevated 1.0% on Friday. The technology-heavy Nasdaq Composite (^IXIC) closed up 2.9%, its largest one-day acquire for the reason that finish of November.

The yield on the benchmark 10-year US Treasury be aware rose to three.482% from 3.397% Thursday. The greenback index was little modified.

The strikes up Friday closed out what had been a

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Jerry
Finance

“No discussion” of exchange rates at G7 -Kyodo

July 16, 2023

By Kevin Buckland

TOKYO (Reuters) – There was “no discussion” about exchange rates at a meeting of Group of Seven (G7) finance ministers and central bank chiefs, Japanese Finance Minister Shunichi Suzuki said on Sunday, according to Kyodo News.

Suzuki was speaking after a meeting in India of the G7 – the US, Japan, Germany, Britain, France, Italy and Canada.

The yen weakened as far as 145 per dollar at the end of last month, the level that last fall spurred the finance ministry to intervene in the market to support the currency. However the yen has rebounded strongly this

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Finance

GOLDSTEIN: Finance Minister Chrystia Freeland’s politics of the absurd

May 22, 2023

Published May 17, 2023 • Last updated 4 days ago • 3 minute read

Deputy Prime Minister and Minister of Finance Chrystia Freeland speaks to the media after presenting the federal budget on Parliament Hill in Ottawa, March 28, 2023.
Deputy Prime Minister and Minister of Finance Chrystia Freeland speaks to the media after presenting the federal budget on Parliament Hill in Ottawa, March 28, 2023. Photo by Blair Gable /REUTERS

It was the $43.9-billion question Finance Minister Chrystia Freeland refused to answer.

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Finance

Should Jordan, 58, and Joy, 57, leave their cottage to their children?

May 14, 2023
Open this photo in gallery:

Jordan and Joy are looking to retire from work as soon as possible. Luckily they’ve accumulated more than enough to do so.Blair Gable/The Globe and Mail

Jordan and Joy have raised two children, paid off the family home and cottage, and amass substantial savings and investments. Jordan, who is age 58, runs his own successful technical business while Jill, 57, is a self-employed consultant. Neither has a company pension.

Jordan’s business grosses about $400,000 a year, from which he draws a salary of $75,000 a year and more if needed. Joy bills about $50,000

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Finance

Americans lost financial ground last year. Here’s how much.

April 8, 2023

Americans have been falling behind financially over the last year. Two reports released Thursday show just how much.

The share of Americans who feel financially healthy decreased by a whopping nine percentage points in March from a year ago, according to a JD Power 2023 US Retail Banking Satisfaction Study, while the percentage of consumers who feel financially vulnerable increased by eight percentage points.

Add to that a chart from Evercore ISI Research and the picture is even grimmer.

It (below) shows how the excess savings Americans built up during the pandemic continues to shrink, falling to levels similar to

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Finance

Depositors yank another $126 billion from US banks

April 1, 2023

Depositors drained another $126 billion from US banks during the week ending March 22, according to new Federal Reserve data. This time the outflow came from the nation’s largest institutions.

The biggest 25 banks lost $90 billion on a seasonally adjusted basis, according to the Fed. The smaller banks, which suffered massive withdrawals the previous week as regulators seized regional lenders Silicon Valley Bank and Signature Bank, were able to stabilize their outflows. They actually gained back $6 billion on a seasonally adjusted basis.

Total industry deposits fell to $17.3 trillion, down 4.4% from the same week a year ago.

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