Mortgage rates shoot higher after Fed Chairman Powell’s comments – CNBC

People look at a home for sale during an open house on April 16, 2019 in San Francisco, California. Justin Sullivan | Getty Images The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since mid-April. The move was a reaction to comments made Wednesday by Federal Reserve Chairman Jerome Powell following the central bank’s meeting this week. Fed officials indicated that rate hikes could come in 2023, although they didn’t mention when they would…

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Major Australian banks, U.S. airlines briefly hit by widespread internet outages – Reuters

Central bank cancels govt bond auction after web outage Many affected websites back online late on Thursday June 17 (Reuters) – Websites of dozens of financial institutions and airlines in Australia and the United States were briefly down on Thursday, in the second major blackout in just over a week caused by a glitch in an important piece of internet infrastructure. Server-related glitches at content delivery network (CDN) provider Akamai (AKAM.O) had hampered services at Australian banks, while many U.S. airlines, including American Airlines (AAL.O) and Southwest Airlines (LUV.N), also…

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World Bank slams bitcoin, declines to help El Salvador’s cryptocurrency plan – Ars Technica

Aurich Lawson | Getty Images reader comments 79 with 46 posters participating, including story author Share this story Last week, El Salvador’s government passed a law to accept bitcoin as legal tender alongside the US dollar. The country receives $6 billion in remittances per year—nearly a quarter of its gross domestic product—and the hope is that bitcoin’s lower transaction costs could boost that amount by a few percentage points. The move was first proposed by the country’s president, Nayib Bukele, who said he hoped that in addition to facilitating lower…

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Joe Biden appoints Lina Khan to head the Federal Trade Commission – The Economist

Jun 19th 2021 DALLAS THE EARLY motto of Mark Zuckerberg, Facebook’s boss, was “Move fast and break things”. Bruce Mehlman, a former assistant secretary of commerce for technology policy, predicts the same maxim may now guide the Federal Trade Commission (FTC), a consumer-protection agency. On June 15th news leaked that Lina Khan, a prominent critic of large tech firms, whom the Senate had just confirmed to be one of the FTC‘s five commissioners, would chair the agency. Her appointment shows that taking on tech has become a rare bipartisan concern…

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Why the Approval of That Alzheimer’s Drug Is So Disturbing – Slate

Last week, the Food and Drug Administration ignored the advice of its own expert advisory committee and approved the first new treatment for Alzheimer’s in 18 years. Called Aduhelm, it carries a substantial risk of painful brain swelling and bleeding, requires monthly infusions, and comes with an eye-popping list price of $56,000 per year. These caveats might be fine if the drug, which is manufactured by Biogen, miraculously restored the memories lost by the 6 million Americans with Alzheimer’s—or at least measurably improved the lives of patients in some meaningful…

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Germany’s CureVac COVID-19 vaccine flops in clinical trial – Fox News

Preliminary data behind German biopharmaceutical company CureVac’s COVID-19 mRNA vaccine candidate revealed a disappointing 47% efficacy against COVID-19 disease of any severity, and failed to meet statistical success criteria in a late-stage trial, sending stocks tanking. “In the unprecedented context of at least 13 variants circulating within the study population subset assessed at this interim analysis, CVnCoV demonstrated an interim vaccine efficacy of 47% against COVID-19 disease of any severity and did not meet prespecified statistical success criteria,” the company wrote in a statement posted Wednesday. The low efficacy comes…

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2 Top Dividend Stocks You Can Buy and Hold Forever – Motley Fool

Dividend stocks can be a great source of passive income, and fortunately, there is no shortage of dividend-paying companies in the stock market. However, finding those whose businesses — and payouts — will remain intact through bull and bear markets can be a bit of a challenge. After all, many companies slash, or outright suspend, their dividends once the economy stops working in their favor. If you are looking for dividend stocks that can pay you for the rest of your life, rest assured: They exist. Two that I think…

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What is Polkadot and how it’s catching up to Ethereum – Yahoo Finance

Motley Fool The Trade Desk Stock Split Is Imminent; Here’s What Investors Need to Know Shares of The Trade Desk (NASDAQ: TTD) are about to get a whole heck of a lot cheaper, but it isn’t because the company is in any sort of trouble. In a press release announcing the move, management said that the “goal of the split is to make The Trade Desk stock more accessible to our employees and a broader base of investors.” Since The Trade Desk debuted on Sept. 21, 2016, at $28.75 a…

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CA power grid operator issues Flex Alert, asks residents to cut back on power usage – Fox News

California’s main power grid operator has issued a statewide Flex Alert, requesting that residents work to conserve electricity amid record-breaking heat. The California Independent System Operator (ISO) said Wednesday that the alert would extend between 5 p.m. and 10 p.m. PT due to “operational needs” and was set in order to “reduce stress on the grid and avoid power outages.”  “The public’s help is essential when extreme weather or other factors beyond our control put undue stress on the electric grid,” Elliot Mainzer, president and chief executive officer of the…

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Supreme Court: Former child slaves can’t sue U.S. chocolate companies over child labor in West Africa – USA TODAY

Show Caption Hide Caption Supreme Court to weigh rollback of abortion rights The U.S. Supreme Court agreed to consider a major rollback of abortion rights that could reverse nearly 50 years of rulings, saying it will decide later this year whether states can ban abortions before a fetus can survive outside the womb. (May 17) AP WASHINGTON – The Supreme Court ruled against several former child slaves from West Africa who sued two giant U.S. food companies for what they described as deplorable and illegal working conditions in the global chocolate industry. The…

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