Last week, recently-elected Long Island congressman George Santos was indicted on 13 felony charges, which including fraud, money laundering, and theft of public funds. Santos, if convicted of some of the most serious charges, faces up to 20 years in prison. These charges stem from revelations of alleged widespread fabrication the recently-elected congressman made leading up to his election as […]

The number of ultra-high net worth individuals (UHNWIs) in India is expected to rise 58.4 per cent in the next five years from 12,069 in 2022 to 19,119 in 2027, a report by property consultancy Knight Frank said on Wednesday. In its “The Wealth Report 2023”, Knight Frank said that the number of Indian UHNWIs, with a net worth of […]

New-age tech tools and ‘mystery shoppers’ are helping the country’s top bourse stay ahead of the curve against dabba trading platforms and entities dolling out unsolicited investment tips. In the past one month, the National Stock Exchange (NSE) has issued close to two dozen warnings and advisories against such activities. “We saw a rise of dabba trading or illegal trading […]

Asian stocks ended Thursday’s session mostly lower as investors reacted to a mixed bag of corporate earnings from Japan and signs of growing deflationary pressures in China. The impasse over the U.S. debt ceiling overshadowed softer-than-expected U.S. inflation data. A measure of Chinese consumer price inflation reached its lowest level in more than two years in April and factory gate […]

Deutsche Bank has agreed to pay $75 million to sexual abuse victims of Jeffrey Epstein to settle a lawsuit filed last year in Manhattan, according to the lawyers for the victims. The settlement, which must be approved by a federal judge, would resolve a proposed class-action suit that alleged the bank had helped enable the disgraced financier’s sex trafficking of […]

Home prices soared during the worst of the pandemic and continued to do so until less than a year ago. As the Federal Reserve raised interest rates, mortgage rates jumped with them. These rates rose from about 3% a year and a half ago to 6%. People who might have bought a home not long ago cannot afford one anymore. […]

New residential construction in the U.S. unexpectedly saw a significant rebound in the month of April, according to a report released by the Commerce Department on Wednesday. The report said housing starts jumped by 2.2 percent to an annual rate of 1.401 million in April after plunging by 4.5 percent to a revised rate of 1.371 million in March. Economists […]

The recent headline job numbers would appear to be positive. The economy added 253,000 jobs in April, and the unemployment rate fell from 3.5% in March to 3.4% – same as the 53-year low hit in January. The longer-term outlook, however, tells a gloomier story. Globalization and technological advancements such as artificial intelligence continue to disrupt the workplace, causing what […]

The U.S. Postal Service (USPS) wants to raise the price of a First-Class stamp to 66 cents. That is a 32% increase in less than four years. It is another sign that the USPS is bloated and needs more money to underwrite a business that America does not need anymore–at least at its current scale. (These companies control over half […]