Gold bullion has become the chief reserve asset now held by the world’s central banks, replacing U.S. treasury securities, which have been the main reserve for more than a half-century, according to a new report from the European Central Bank (ECB).
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WORLD OIL RESERVES ARE DEPLETED, SETTING UP NEXT PRICE SPIKE
The world’s oil reserves are almost exhausted, analysts warn, and an agreement to reopen the Strait of Hormuz remains out of reach.
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GOING OUT OF BUSINESS TRENDS
Business conditions continue to deteriorate as economic pressure, high borrowing costs, and weakening consumer demand drive a growing number of companies toward closure and bankruptcy.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
U.S.-based employers announced 97,006 job cuts in May, up 16 percent from the 83,387 job cuts recorded in April, according to outplacement firm Challenger, Gray, and Christmas.
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IRAN SAYS ISRAEL MUST WITHDRAW FROM LEBANON TO END WAR WITH U.S.
Abbas Aragchi, Iran’s top diplomat, said any deal between the U.S and Tehran to end the war must include Israel agreeing to withdraw IDF troops out of Lebanon that have been occupying.
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IRAN REJECTS CEASEFIRE THAT DOES NOT END WAR ON ALL FRONTS
The Islamic Revolution Guards Corps (IRGC) said Thursday that any permanent end to the war against Israel and the U.S. would need to end the fighting on all fronts, which includes Lebanon.
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IRANIANS SAY FU TRUMP, NUCLEAR ENRICHMENT IS THEIR RIGHT
The right for Iran to enrich uranium is inalienable, and there will be no deal with Washington that includes a promise to end the country’s civilian nuclear program, a top Iranian official said in an interview last week.
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ECONOMIC UPDATE
There are two major forces driving the equity markets, the Iran War and the AI boom.
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SPOTLIGHT: PRIVATE CREDIT FUNDS’ PROBLEMS MOUNT
Like high-flying special-purpose acquisition companies, which were a fad in 2021 and 2022, the private credit industry’s heyday is over for the near future.
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NEARLY 70 PERCENT OF AMERICANS WANT THE IRAN WAR TO END AS SOON AS POSSIBLE, SURVEY FINDS
A newly released The Economist/YouGov poll found that 68 percent of Americans believe that the Trump administration should end the Iran War as soon as possible, and that 60 percent of those polled say they oppose the war.