Economy & Policy

South Dakota Outed as Switzerland-Like Tax Haven

Every time he’s on the tail of a clandestine organization with seemingly endless financial resources, James Bond gets a trip to a swank destination where the world’s super-rich stash their cash, like Zurich or the Cayman Islands. His next destination…

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Markets Stumble Amid Rate-Hike Worries, US Gov’t Warns It’s Running Out of Money

The party will soon be over. On Tuesday, investors came to terms with the fact that the days of record-low interest rates are coming to an end. And that was just one part of a wild day on global markets….

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Toast and Freshworks Soar in Their Public Market Debuts

Technology investors are having their cake and eating it too. Shares of Toast — which provides payment systems and software for the restaurant industry — popped 56% on Wednesday after a triumphant IPO. Freshworks — which sells customer service software…

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Markets Tumble As China Faces a Lehman Brothers Moment

Chinese President Xi Jinping has unloaded more drama than is fit for an over-the-top Mexican soap opera on markets this year. But while previous clampdowns have left investors reeling, Xi’s latest flex is making many outright terrified. On Monday, China’s…

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Wall Street’s Sudden Fear of Market Turmoil is Good News, Say Investment Analysts

Analysts at several of Wall Street’s top banks are worried about the U.S. stock market — six major institutions sent out warnings last week that a storm is on the way. But new research says Wall Street’s fear is actually…

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Dems Put Suite of Tax Increase Proposals in Front of Congress

Trillions of dollars in new tax revenue could come from hikes on corporations and high earners, if House Democrats have their way. On Monday, Democrats revealed proposals to increase the U.S. corporate tax rate, add a surtax on the country’s…

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European Central Bank Slows Bond Buying Amid White-Hot Inflation

The European Union’s central bank said Thursday that it’s slowing down the bond-buying program launched to keep the economy afloat during the Covid-19 pandemic. Now, the bank has a delicate balancing act on its hands between inflation, which is climbing…

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Bus Drivers, Trash Collectors, and Firefighters Score Signing Bonuses As Desperate Cities Try to Keep Services Running

A couple of extra “Help Wanted” signs aren’t going to solve this one. The current nationwide labor shortage includes 780,000 more unfilled government jobs than before the pandemic, meaning that cities are missing trash pick-ups and mail delivery remains at…

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Afghanistan Faces Financial Turmoil With Taliban Cut Off From Reserves

The overthrow of Afghanistan’s government by the Taliban this week has heightened concerns about regional stability in the Middle East and the safety of refugees. Now, the economic fallout is beginning. Afghanistan’s former central banker Ajmal Ahmady — who fled…

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The Federal Reserve Explores Halting Asset Purchases

As part of its efforts to steward the economy through the Covid pandemic, the U.S. Federal Reserve has been on a bit of a spending spree. The central bank is currently purchasing $80 billion in Treasury securities and $40 billion…

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Extra Credit: The Shifting World of Private Credit Markets

Tale of the Tape: Warren Buffett and Cathie Wood

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