Russian stock market shrugs off new US sanctions risks
The ruble-denominated Moscow stock exchange (MOEX) index, which reflects the prices of the most liquid Russian stocks of the largest companies, added 0.6% in the afternoon on the last trading day of the week.Meanwhile, the dollar-denominated RTS index rose around 1%, hitting almost the same levels as it had before Washington’s sanctions were revealed. Also on rt.com US imposes new sanctions against Russia, expels ten diplomats targets national debt in move Moscow may view as major escalation Friday’s rally also comes amid positive sentiment in the international markets, with global stocks trading at or near record highs amid positive economic data from the US and China. Both MOEX and RTS indices have gained this year, adding over … [READ MORE...]
Frank Jacobs, Mad Magazine Writer With a Lyrical Touch, Dies at 91
In his opinion, Judge Irving R. Kaufman (most famous for presiding over Julius and Ethel Rosenberg’s espionage trial) wrote, “The fact that defendants’ parodies were written in the same meter as plaintiffs’ compositions would seem inevitable if the original was to be recognized, but such a justification is not even necessary; we doubt that even so eminent a composer as plaintiff Irving Berlin should be permitted to claim a property interest in iambic pentameter.”The U.S. Supreme Court declined to review the decision.Franklin Jacobs was born on May 30, 1929, in Lincoln, Neb. His father, David, was a traveling salesman and owned a costume jewelry business with Frank’s mother, Miriam (Frosch) Jacobs, who also helped start a Jewish temple in Lincoln.“Some say that as a baby I gurgled in 4/4 … [READ MORE...]
China’s Anger at Foreign Brands Helps Local Rivals
Foreign brands are far from done in China. Its drivers helped power a jump in Tesla deliveries. IPhones remain immensely popular. Campaigns against foreign names have come and gone, and local brands that emphasize politics too much risk unwanted attention if the political winds shift quickly.Still, interest in local brands marks a significant shift. Post-Mao, the country made few consumer products. The first televisions that most families owned in the 1980s were from Japan. Pierre Cardin, the French designer, reintroduced fashion with his first show in Beijing in 1979, bringing color and flair to a nation that during the Cultural Revolution wore blue and gray.Chinese people born in the 1970s or earlier remember their first sip of Coco-Cola and their first bite of a Big Mac. We watched … [READ MORE...]
Latest News
China’s First-Quarter Growth Is Expected to Boom on Paper
Families continue to save at a higher rate than they did before the pandemic, something that worries economists like Louis Kuijs, who is head of Asian economics at Oxford Economics. Mr. Kuijs is looking at household savings as an indication of whether Chinese consumers are ready to start splurging after months of being stuck at home.Data on Friday showed that households saved more money in the first quarter of the year than in recent quarters. “Looking ahead, a convincing vaccination drive and … [Read More...]
Covid-19 Pushes India’s Middle Class Toward Poverty
Anil G. Kumar, a civil engineer, was one of them. Around this time last year, he and his family were about to buy a two-bedroom apartment. But when last year’s lockdown hit, Mr. Kumar’s employer, a construction chemicals manufacturer, slashed his salary by half.“Everything turned turtle within a few hours,” he said. Three months later, his job had been eliminated.Now Mr. Kumar spends his days in his home in a working-class neighborhood in the western part of Delhi, searching for jobs on LinkedIn … [Read More...]
What Will Happen to All the Empty Office Buildings and Hotels?
Long a Holiday Inn, the West 57th Street property was reinvented as a boutique getaway in 2017 by a new owner, BD Hotels, whose portfolio includes downtown hot spots like the Mercer, the Bowery and the Jane. But then Covid hit, and BD defaulted, despite turning much of the Watson Hotel into a homeless shelter, for which the city reimbursed it.For the 1964 building’s newest chapter, Yellowstone will turn one of the hotel’s two towers into market-rate apartments, according to sources familiar with … [Read More...]
Unemployment Is High. Why Are Businesses Struggling to Hire?
By contrast, “right now what seems to be happening is that job creation is outpacing the search effort that workers are putting forth,” said Professor Marinescu, an economist at the University of Pennsylvania. “Compared to how people reacted last spring, it’s not that long ago, but the situation has changed a bit.”That is to say, a similar decline in workers’ desire to pursue jobs matters more when there are plenty of jobs to go around, which is increasingly the case as the economy reopens.In … [Read More...]
Previous news
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- Hundreds of Companies Unite to Oppose Voting Rights Limits, but Others Abstain
- Hundreds of Companies Unite to Oppose Voting Limits, but Others Abstain
Small Business
China’s Anger at Foreign Brands Helps Local Rivals
Foreign brands are far from done in China. Its drivers helped power a jump in Tesla deliveries. IPhones remain immensely popular. Campaigns against foreign names have come and gone, and local brands that emphasize politics too much risk unwanted attention if the political winds shift quickly.Still, interest in local brands marks a significant shift. Post-Mao, the country made few consumer … [Read More...]
How a Fruit-Filled Garden Inspired a New Wellness Brand
In the meantime, the brand’s offerings continue to grow. Just over a year after Christiansen’s team started selling vegetables in a parking lot in uncertain times, Flamingo Estate is unveiling a celebratory rosé called Pink Moon. The same shade of blush as Christiansen’s house, the sustainable wine is aged in acacia barrels near San Luis Obispo by the winemaker Kamee Knutson, and has notes of … [Read More...]
Your Money
A Family Opens Up About Its Investing Mistakes
An added layer of complexity is getting a family to agree to change course. Creating a strategy from scratch isn’t easy, but scrapping the old one for a new, untried one is more challenging, said John Zimmerman, president of Ascent Private Capital Management, the high-net-worth arm of U.S. Bank.“It’s more difficult and complicated than a blank slate of paper,” Mr. Zimmerman said. “You need to get … [Read More...]
The Tax Filing Deadline Was Delayed to May 17. Here’s What to Know.
“They hear Tax Day is moved to May 17, so a lot of people will go to their preparer on April 30,” Mr. Stewart said. “Unfortunately, the first-quarter estimated payment is late.”The conference and other groups representing tax professionals had urged the government to postpone the estimated tax deadline as well. In congressional committee testimony in March, the I.R.S. commissioner, Charles P. … [Read More...]