President Joe Biden said he was committed to closing the racial wealth gap at a campaign fundraiser hosted by prominent Black business leaders in New York on Monday, seeking to highlight the economic gains for Americans under his administration. “Black Americans play a critical role in the economy, and disparities exist in every dimension in […]

NEW YORK, Aug 18 (Reuters) – Several indicators that pointed to upside for U.S. stocks this year have shifted to a more neutral outlook, potentially leaving equities vulnerable to turbulence from a recent surge in bond yields and

Warren Buffett, chairman and CEO of Berkshire Hathaway. Daniel Zuchnik/WireImage Warren Buffett can’t find bargains the way he used to. On Saturday, his Berkshire Hathaway reported its cash pile reached $147 billion while operating profits jumped 7% year-on-year to $10 billion in the second quarter. That’s a solid performance, but the growing hoard of cash, […]

An anonymous reader quotes a report from the Associated Press: Austria’s leader is proposing to enshrine in the country’s constitution a right to use cash, which remains more popular in the Alpine nation than in many other places. Chancellor Karl Nehammer said in a statement on Friday that “more and more people are concerned that […]

NEW YORK, July 11 (Reuters) – ByteDance, the Chinese owner of short video app TikTok, will allow shares of U.S. employees to vest without waiting for the company to list in the stock market, thereby allowing them to cash out, according to people familiar with the matter. The move is aimed at appeasing restless employees […]

A San Francisco committee has released its final set of recommendations to provide reparations to the city’s Black community, including potential $5 million payments meant to rectify some of the harm caused by generations of systemic racism.  But it is far from clear whether the possible payments — or any of the other most ambitious […]

NEW YORK, June 2 (Reuters) – As the U.S. stock market continues its climb, investors holding shares of the massive tech and growth companies leading the charge are debating whether to cash out or stay on for the ride. A record $8.5 billion flowed into tech stocks in the latest week, data from BofA Global […]

New York CNN  —  Cash levels at the US Treasury are tumbling toward a dangerously low level as Washington waits until the last minute to raise the debt ceiling. As of the close of business on May 25, Treasury had just

Just how empty is the Treasury cash coffer? For comparison, $38.8 billion is on par with the gross domestic product of Bahrain and Paraguay and lower than the net worth of more than two dozen of the wealthiest people in the world. Of course, much of the assets of those billionaires are tied up in […]

Treasury Secretary Janet L. Yellen said on Friday that the United States will run out of money to pay its bills on time by June 5, moving the goal post slightly while maintaining the urgency for congressional leaders to reach a deal to raise or suspend the debt limit. The letter provided the most precise […]

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