Author: IA PressRoom

WASHINGTON, DC – MAY 12: Student loan borrowers gather near The White House to tell President Biden … [+] to cancel student debt on May 12, 2020 in Washington, DC. Student loan default rates are down significantly from 2010, but a recession could easily send them back up.Getty Images for We, The 45 Million While the pandemic threw the American economy for a loop and rising interest rates from 2022 to 2023 have proved detrimental to several sectors, one area of finance that shows some positive signs is student loan defaults. As of the latest data available on student loan…

© Reuters. FILE PHOTO: The Rio Tinto logo is displayed above the global mining group’s booth at the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada March 7, 2023. REUTERS/Chris Helgren (Reuters) -Rio Tinto will invest $1.1 billion to expand its “low-carbon” aluminum smelter at Complexe Jonquière in Quebec, Canada, the Anglo-Australian mining giant said on Monday. The investment will boost annual capacity by about 160,000 metric tonnes of primary aluminum, the global miner said, adding it was sufficient to power 400,000 electric cars. The total investment includes up to $113 million of support from…

© Reuters Kerrisdale releases Carvana (CVNA) short report, claims ‘equity is worthless’ Carvana Co. (NYSE:) shares initially opened lower Monday before surging over 6% after Kerrisdale Capital said it is short the company’s shares. The firm claimed “Carvana is insolvent,” and its “equity is worthless,” in a tweet thread linking to its short report. Carvana is “nothing more than a poorly run auto retailer,” they added, stating that it will never generate sustainable positive cash flow until its debt is equitized. Kerrisdale also attacked Carvana’s ability to be profitable, arguing that it “has never produced profitable growth,” and even during…

© Reuters Investing.com — Oil prices traded sharply lower Monday amid persistent concerns around the global demand outlook ahead of a crucial policy-setting meeting of the U.S. Federal Reserve. By 09:35 ET (13:35 GMT), futures traded 3.3% lower at $67.78 a barrel, while the contract fell 2.9% to $72.61 a barrel. The Brent contract posted a 1.8% decline last week, the biggest weekly decline since early May, prompting Goldman Sachs, normally one of the more bullish banks in terms of the oil outlook, to make its third downward price revision for the global benchmark in six months. The influential investment…

Image Source: PixabayAs Turkey’s economic woes continue to deteriorate with lira spiraling downwards, investors are turning to cryptocurrency as a safe haven. Local demand for Tether, the largest dollar-backed stablecoin, surged in early May ahead of the election and has remained high since, according to a recent report from Bloomberg.Tether’s share of trading volumes on one of the biggest Turkish crypto exchanges, BTCTurk, stands at 20% compared to 1% on Binance, highlighting how strong the demand for stablecoin in Turkish markets is and its immense popularity as a way of protecting capital. Turkey’s President Erdogan is known for his unorthodox economic policies since…

Fox News has demanded that Tucker Carlson stop posting videos to Twitter, escalating the dispute between the network and its former star host over how — and if — he can continue to speak publicly since his prime-time show was canceled in late April.In a letter sent to Mr. Carlson from Fox lawyers, the network accused him of violating the terms of his contract, which runs until early 2025 and limits his ability to appear in media other than Fox. The letter is labeled “not for publication,” in all caps.Since Mr. Carlson was ousted by Fox News, he has begun…

bodnarchuk/iStock via Getty Images Royal Gold (NASDAQ:RGLD) said Monday it agreed to acquire new royalty interests on the producing Serrote and Santa Rita mines in Brazil from ACG Acquisition Company for $250M in cash. The royalty interests consist of a gold royalty on the Serrote mine; a gold, platinum and palladium royalty on the Santa Rita mine; and a copper and nickel royalty on both the Serrote and Santa Rita mines. “This proposed acquisition meets our strategic criteria for investment, as the royalties will provide predominantly precious metals revenue on producing mines that we believe have excellent long-term potential, are…

The wealthiest taxpayers have many tools at their disposal to pay less to Uncle Sam. Some tactics, like donating to charity via trusts, might seem far-fetched but are perfectly legal. Lawyers and bankers to the ultra-rich told Insider how these rarified techniques work. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Thanks to tax cuts made during the Trump administration, Americans can give or hand down nearly $13 million in assets without paying federal estate tax. Only 0.2% of taxpayers have to worry about this…

This article is an on-site version of our Swamp Notes newsletter. Sign up here to get the newsletter sent straight to your inbox every Monday and FridayLet me start this note with a disclosure: I’m an economic analyst for the network, and so not unbiased. What’s more, I’ve never met Chris Licht, who recently stepped down as head of the network after a damning piece in The Atlantic. That said, I think the network is getting a bit too much negative press these days for recent efforts to move into the political mid-ground between MSNBC and Fox.Licht was clearly an…

© Reuters. FILE PHOTO: A general view of the ThyssenKrupp headquarters in Essen, Germany, November 17, 2022. REUTERS/Thilo Schmuelgen By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Thyssenkrupp launched on Monday the long-awaited listing of its hydrogen division Nucera, suggesting its new chief executive intends to waste no time in reviving the fortunes of the embattled conglomerate. Thyssenkrupp (ETR:) Nucera, a 66:34 joint venture with Italy’s De Nora, is targeting proceeds of up to 600 million euros ($647 million) via the sale of new shares, confirming initial listing plans first outlined in early 2022. The initial public offering (IPO), which…