The Federal Reserve’s interest rate cuts aimed to lower borrowing costs but are facing resistance from bond markets. The yield on the benchmark 10-year Treasury surged above 4.8% last week, its highest level since November 2023, while the 30-year counterpart is close to hitting 5%. Rising rates will impact mortgage and loan costs. A strong … Read more
The US oil price rally has continued into the new week after the Biden administration imposed harsh sanctions on Russian oil exports. WTI crude for February delivery jumped 3.0% to $78.77 per barrel, while Brent crude for March delivery rose 1.8% to $81.18 per barrel. The sanctions target 180 vessels, senior Russian oil executives, and … Read more
Two related broker-dealers of Robinhood have agreed to pay $45 million combined in penalties to settle administrative charges brought by the Securities and Exchange Commission (SEC) over various regulatory violations. The SEC alleged that Robinhood’s subsidiaries, Robinhood Securities LLC and Robinhood Financial LLC, failed to report suspicious trading activity, implement adequate identity theft protections, and … Read more
The Laken Riley Act has advanced in the Senate, clearing a second procedural hurdle with an 82-10 vote to proceed to debate. The bill would mandate federal detention of immigrants accused of theft and burglary, pending trial. Democratic senators have expressed support for amendments, with some arguing that the bill needs “fixing” due to concerns … Read more
Insurance companies have stopped renewing policies for residents in areas prone to wildfires in California, citing rising fire risks as the reason. The decision has left many homeowners concerned about their financial security. According to Rick Dinger, president of Crescenta Valley Insurance, the company made the choice due to increasing costs associated with firefighting efforts … Read more
US President-elect Donald Trump is using his influence to bully US allies, threatening military action against them unless they meet certain demands. His ally Elon Musk is also taking a keen interest in European politics, often publicly supporting far-right groups. Trump has several key asks from Canada, including increased defense spending and tighter border controls. … Read more
The Los Angeles Lakers will host a donation drive at their upcoming games at Crypto.com Arena starting Monday, January 13. Fans attending the games are encouraged to bring new, in-the-package items to support the Los Angeles Regional Food Bank’s relief efforts. The collection bins will be located outside Crypto.com Arena and will be available from … Read more
Frogs have long fascinated scientists with their ability to seemingly “walk” on water. Researchers studying the cricket frog, native to Virginia and North Carolina, have made a groundbreaking discovery about this unique behavior. In a study published in the Journal of Experimental Biology, researchers found that frogs do not actually walk on water, but rather … Read more
California firefighters can use ocean salt water to put out fires, but it’s not as simple as just transporting water from the beach. The state has over 60 aircraft capable of scooping up water from the Pacific Ocean, known as “Super Scooper” CL-415 planes. These planes are designed for hauling heavy loads of water and … Read more
South Korea’s suspended president, Yoon Suk Yeol, has failed to appear at the constitutional court hearing in his impeachment trial. The hearing was adjourned after just a few minutes due to Yoon’s absence. The court will consider whether Yoon’s declaration of martial law on December 3 was constitutional and if it constitutes insurrection. The justices … Read more