Economy
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The 2023 Porsche Taycan: an electrifying drive in more ways than one
The 2023 Porsche Taycan luxury car is an electrifying drive in more ways than one. Pricing starts at $86,700. Available as a sedan or wagon-like Sport Turismo/Cross Turismo versions, the 2023 Taycan blends Porsche POAHY, +0.72% prestige and dynamics with all-electric, zero-emissions drivetrains. It’s the company’s first all-electric car, having made its debut for the…
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On ‘hush trips,’ employees sneak off to vacation spots to work remotely. Is that so bad?
Emily Smith was working two jobs — at a hotel and at a retail store — when she realized she was in dire need of a break. Smith, based in Vancouver, B.C., says her employers didn’t usually approve of her vacation days, so she invented a fake family emergency, claiming she’d need to work from…
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Dow ends 530 points lower after Fed delivers quarter-point rate hike despite banking system stress
U.S. stocks finished sharply lower in volatile trade on Wednesday after the Federal Reserve raised interest rates by another 25 basis points, while noting that policymakers weren’t penciling in rate cuts this year. The decisions came despite recent stress in the banking industry following the collapse of two U.S. regional banks. How stock indexes traded…
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Quarter-point Bank of England rate hike seen as virtual lock after surprise acceleration in inflation
What was an uncertain Bank of England decision became almost a lock after U.K. inflation data came in unexpectedly hot. The odds of a quarter-point hike, to 4.25% from 4%, moved to 97% after the data from the Office for National Statistics on Wednesday showing inflation accelerating to 10.4% year-over-year in February. The yield on…
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2-year Treasury yield dives to one of lowest levels of year after Fed decision
Most Treasury yields dived on Wednesday after Federal Reserve policy makers signaled just one additional interest rate hike will be appropriate this year and Chairman Jerome Powell addressed banking-system concerns during his press conference. Meanwhile, Treasury Secretary Janet Yellen weighed in separately, by saying her agency hasn’t looked at expanding FDIC deposit insurance. What happened…
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Lagarde sees no evidence that underlying inflation is moving down
President of the European Central Bank Christine Lagarde says inflation is still too high. “Since July last year we have raised interest rates by 350 basis points. However, inflation is still high, and uncertainty around its path ahead has increased. This makes a robust strategy going forward essential,” she said a speech made on Wednesday…
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Insured losses from natural catastrophes topped $100 billion for second year in a row, reinsurer says
Insured losses from natural catastrophes topped $100 billion for the second year in a row, reinsurer Swiss Re said on Wednesday. Swiss Re SREN, +0.75% said insurance covered $132 billion worth of the $284 billion in economic damage caused by catastrophes including Hurricane Ian, hailstorms in France and floods in Australia and South Africa. That’s…
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‘Rushed action leads to more pain’: Where should I put my cash amid this banking crisis? Is my money safe?
Rising interest rates and stock-market volatility over the past year have added extra allure to the high-yield savings accounts and certificates of deposit that banks offer. Then came the stunning failure of Silicon Valley Bank, the closure of Signature Bank and the array of regional banks under pressure — all in a matter of days.…
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The 5 biggest investor mistakes of 2013
CHAPEL HILL, N.C. (MarketWatch) — The biggest mistake investors will make in 2013 will be to reduce their equity positions in favor of either cash or bonds. That, at least, was the consensus of a panel of top-performing advisers assembled Thursday at the World Money Show in Orlando. The show’s sponsor, InterShow, had asked me…
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S&P 500, Dow open higher as banking jitters ease after UBS-Credit Suisse deal
The S&P 500 and Dow opened higher on Monday after UBS Group agreed to buy its beleaguered Swiss peer, Credit Suisse, in a deal that was aided by Swiss authorities. The S&P 500 SPX, +1.30% gained 5 points, or 0.1%, to 3,921. The Dow Jones Industrial Average DJIA, +0.98% advanced 90 points, or 0.3%, to…