Author: Press Room

Good morning. It looks like the US is in a manufacturing recession. Yesterday’s ISM manufacturing report showed the sector shrinking for the third straight month, and the ISM index has dipped below where it bottomed in recent non-recessionary downturns, such as 2015-16. The contrast with the consumer side of the economy is striking. Email us your thoughts: robert.armstrong@ft.com and ethan.wu@ft.com.Shameless plug: Armstrong is the guest on this week’s Behind the Money podcast. Listen in and subscribe!The Fed vs marketsNeither Federal Reserve chair Jay Powell’s press conference yesterday, nor the official statement that preceded it, held many surprises. Both acknowledged that…

Bitcoin and Ethereum prices have been on the rise recently, with BTC and ETH both rising 4% following the Federal Reserve’s rate hike. With more investors turning to cryptocurrencies as a safe haven asset, it is likely that the prices of Bitcoin and Ethereum will continue to increase in the near future. This article will provide an overview of the current market conditions and discuss whether or not there is more upside for BTC & ETH prices in light of recent events.Cryptocurrency: What’s The Fundamental Outlook Today?Bitcoin, the world’s largest cryptocurrency, skyrocketed after the Federal Reserve raised interest rates by 25…

Indian billionaire Gautam Adani tried to reassure investors on Thursday after he abruptly abandoned his flagship firm’s $2.5 billion share sale. “For me, the interest of my investors is paramount and everything is secondary,” the 60-year-old businessman said in a recorded video address. “Once the market stabilizes, we will review our capital market strategy.” This was the first time the tycoon has spoken about the stock market mayhem that has wiped billions off his logistics and energy business empire. A week-long meltdown in the value of Adani Group shares started when an American short seller accused the conglomerate of fraud.…

An hour before a controversial former Mount Royal University professor Frances Widdowson was planning to speak at the University of Lethbridge, students could be seen filling the U Hall atrium. But it was clear many weren’t interested in hearing her speak. They were preparing to send a message.Widdowson has sparked some controversy in recent years, making headlines with her comments about residential schools.A large, vocal group is gathered at the @UofLethbridge, mostly in opposition to a planned speech by fired @mountroyal4u professor Frances Widdowson, known for controversial comments regarding residential schools. #YQL #Lethbridge pic.twitter.com/vpsqWhXEex— Liam Nixon (@GlobalLiamNixon) February 1, 2023…

DENPASAR, Indonesia: Donning yellow “Bali” hats featuring a surfer as the last letter, Chinese tourists walked along the Indonesian backpacker hotspot’s pristine blue waters, forgetting three years of COVID-19 misery. Exploring turtle island, taking day trips to neighbouring Lombok and hitting Bali’s famed beaches, the world’s biggest-spending tourists were back after the Chinese New Year festivities kicked off and Beijing reopened to the world last month. “I am especially happy to travel because, before the pandemic, I was someone who liked to travel a lot, going all over to see the sights, experience different cultures and people,” Li Zhao-long, a…

SEOUL: North Korea’s Foreign Ministry said on Thursday (Feb 2) that joint drills by the United States and its allies have pushed the situation to an “extreme red-line” and threaten to turn the peninsula into a “huge war arsenal and a more critical war zone”. The statement, carried by state news agency KCNA, said Pyongyang was not interested in dialogue as long as Washington pursues hostile policies. “The military and political situation on the Korean peninsula and in the region has reached an extreme red-line due to the reckless military confrontational manoeuvres and hostile acts of the US and its…

Source: YouTube

Shadow Cyber Security Minister James Paterson says we already have Indigenous voices in the Federal Parliament and they are “ignored”.“It is not clear to me why, if we are ignoring the Indigenous voices that we already have who are democratically elected to represent their fellow Indigenous Australians are not being listened to – why a Voice to Parliament would change anything,” Mr Paterson told Sky News Australia. Source: Sky News

Rep. Matt Gaetz is calling on his colleagues to support a bill that would abolish the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), a law enforcement agency that operates under the Department of Justice, after its latest guidance that restricts the ownership of gun components.During a speech on the floor of the House chamber Wednesday, Gaetz, a Republican from Florida, said the bureau “cannot be trusted” and that it was ultimately seeking to strip Americans of their Second Amendment right to privately own firearms.”The ATF cannot be trusted to protect our right to keep and bear arms,” Gaetz said.…

The US Federal Reserve increased its benchmark interest rates by a quarter of a percentage point yesterday, marking a return to a slower, more orthodox pace of rate rises. But its European and British counterparts are likely to stick to a 50 basis point rise later today as underlying price pressures remain high.The Fed’s shift reflects the fact that inflation appears to have peaked while the economy is starting to slow. The increase brings the federal funds rate to between 4.5 per cent and 4.75 per cent, the highest level since September 2007.But the Fed warned that “ongoing increases in…