Editor’s Choice, economic news 6:39am.2024-05-04
West Texas Crude (WTI) futures in New York closed lower on Friday (May 3), posting their biggest weekly decline in three months, as investors weighed the release of oil price data and the possible timing of Weak US Employment when the Federal Reserve (Fed) will cut interest rates.
The WTI crude oil contract will be delivered in June. it fell 84 cents, or 1.06%, to close at $78.11/barrel and was down 6.8% this week.
The Brent crude oil contract (BRENT) will be delivered in July. fell 71 cents, or 0.85%, to close at $82.96 a barrel. and fell more than 7% this week.
Investors worry that prolonged high interest rates will affect the growth of the US economy, the world’s largest oil consumer. After the Fed decided to freeze interest rates this week.
Data released on Friday indicated that employment expansion in the United States slowed more than expected in April. and the annual increase in wages has slowed. This has caused traders to speculate that the Fed will cut interest rates for the first time this year in September.
The US Department of Labor revealed that non-agricultural employment figures increased by only 175,000 jobs in April.
An Unprecedented Rise In Gold Prices In Sulaymaniyah…
2024-04-01T14:00:03+00:00
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/ The representative of the Goldsmiths Market in Sulaymaniyah announced, on Monday, an unprecedented rise in the prices of the yellow metal, revealing the reasons behind this rise.
Deler Taher told Agency, “The price of gold recorded a historic rise due to international conflicts and wars and the decline in the value of the US dollar in global markets, as well as the rise in the prices of all other metals, in addition to the advent of Christian holidays in Iraq and the Kurdistan Region.”
He stated that “the price of a 21-karat gold mithqal, excluding goldsmith fees, reached $315 (about 463 thousand dinars), and the price of an 18-karat gold weight has now reached $270 (about 370 thousand dinars).”
He continued, “The price of a kilogram of gold a year ago was 37 thousand dollars, while now it has reached 72 thousand dollars per kilogram.”
Regarding the market movement, Taher confirmed, “It is now halted for many reasons, including the delay in the distribution of salaries, as well as the fact that gold is a luxury item and not the main and essential one,
Unleashing The Tesla Fury: Inside The Wild Email…
Elon Musk’s Chaotic Decision to Fire Tesla’s Supercharger Team
Following the abrupt firing of its entire Supercharger team, Tesla’s email to suppliers reveals the chaotic decision-making process that led to the layoffs.
When the firings were announced, there was uncertainty about how they would impact Tesla’s plans. CEO Elon Musk later clarified that while the Supercharger network will still grow, the pace will be slower with a focus on uptime and existing locations.
Despite Musk’s reassurances, reports of canceled Supercharger projects, like the halt in Australia, have surfaced. This sudden change has left many in the industry puzzled.
Tesla’s Email to Suppliers
Tesla’s email to suppliers acknowledges the restructuring of the Supercharger organization and emphasizes the need for patience during this transition. The lack of a clear communication strategy and the sudden leadership changes raise concerns about the company’s decision-making process.
Furthermore, the email hints at potential payment delays, adding to the uncertainty for suppliers. The request to continue construction on active projects while halting new ones adds to the confusion surrounding Tesla’s Supercharger strategy.
Industry Response
Competitors like Revel are eyeing opportunities in the wake of Tesla’s Supercharger setbacks,
Monthly Payment Starts Today 2024-05-03 23:09:06
From 2025, fines for late payment of vehicle registration fees will be escalating.
The aim is not to double the amount of fees owed from the very first day of delay in paying them, with the addition of a fine equal to 100% of the fees, as is done today, but to increase the fees, due to delay, to escalate according to time which passes after the payment deadline and reaches the level of 100% after 3 months of delay.
The Minister of National Economy and Finances, K. Hatzidakis, pointed out that from 2025 the fine for late payment of traffic fees will not be double from the very first day of late payment, but will be escalating, depending on the time of the delay their payment.
More specifically, as every year, it is possible to lift the immobility of a passenger car or motorcycle for private use for 2024 as well, with a proportional payment of the annual traffic fees corresponding to the months of traffic of the vehicle. For example, if a car owner with an annual road tax of 300 euros immobilizes his vehicle for a period of 4 months, he will pay 100 euros.
REGIONAL INTEGRATION The Private Sector Is Interested In…
Representatives of Afreximbank and the private sector held their meeting yesterday in Antaninarenina.
A delegation from the African Export-Import Bank is currently within our walls. It began its mission with the private sector and its branches with the aim of promoting two digital tools.
A shooting window. “Malagasy entities could fully benefit from the advantages of international trade and finance.” This is the observation that emerged from the first day of the roadshow carried out by a delegation from the African Export-Import Bank (Afreximbank). This pan-African financial institution announces that digital tools can be put at the service of private sector players. In any case, those who want to turn to the African market. These are two digital platforms, the Africa Trade Gateway (ATG) and “Mansa”, which facilitate access to the African market for the various economic entities of the Big Island.
Business opportunities
Maureen Nneka Mba, head of the “Mansa” initiative at Afreximbank explains that “ATG is a platform integrated by Afreximbank, offering tools for e-commerce and market intelligence and many other areas . It aims to support intra-African trade.” “Mansa, for its part, is a platform offering free profiles for African entities and aims to eliminate information asymmetries in African trade.” Yesterday,
Realme GT5 5G: Camera And Battery Are Amazing,…
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Huge Fraud Accountant Who Checked Trump Media Figures
#Huge #fraud #accountant #checked #Trump #Media #figures
The accounting firm that, among other things, audits the figures of Donald Trump’s social media company Trump Media, is suspected of “large-scale fraud”. According to the American stock exchange watchdog SEC, accountant Benjamin Borgers and his firm did not comply with the quality requirements for good book audits during audits at numerous listed companies.
Borgers and his company BF Borgers CPA have now reached a settlement with the SEC for a total of 14 million euros. Borgers and the firm also promise to no longer act as accountants.
According to the regulator, audits in more than 1,500 documents submitted to the SEC did not meet the minimum quality requirements. In more than five hundred documents submitted to the SEC, the company also allegedly lied by stating that the audit met all quality requirements.
According to the SEC, this is one of the “largest failures among gatekeepers of our financial markets” ever, with which Borgers put investors at risk and undermined “confidence in our markets”.
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US Stock Exchange Watchdog Charges Auditor Of Trumps…
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The US stock exchange watchdog has charged the auditor of Donald Trump’s social media company with fraud in more than 1,500 investigations.
“Ben Borgers and his accounting firm BF Borgers are responsible for one of the biggest breaches of the integrity of financial markets defenders ever.” Investors rely on the reliability of financial studies to make investment decisions. Auditors therefore play a vital role in our financial system. Borgers has completely abdicated that role,” he said.
The SEC was hard on the auditor who also examines the books of Truth Social, Donald Trump’s social media company. He accuses BF Borgers of submitting incomplete, false and fabricated surveys. The auditor’s office was permanently suspended and fined $14 million.
The stock exchange watchdog did not specifically say that BF Borgers also committed fraud in the Trump Media investigations. The investigator had worked for the former president’s media company since 2022. Since going public as Trump Media & Technology Group (TMTG), he has been the largest customer of BF Borgers in terms of market value. A spokesperson for Trump Media said the company will now be looking for a new auditor. (l.s.)
2024-05-03 18:08:17
#Americas #stock #market #watchdog #uncovers #massive #fraud #investigator #Trump #Media
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Social Media Ensures A Sharper Political Profile
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