Cann appoints Brian Hanna as acting director of the Michigan Cannabis Regulatory Agency
After Andrew Brisbo left the Michigan Cannabis Regulatory Agency, a new director was created after serving in that position since the launch of the state's commercial and recreational market in 2019. After Andrew Brisbo left the Michigan Cannabis Regulatory Agency, a new director ...
Updated: 09/17/2022
Credit Suisse agrees to settle $32.5 million lawsuit
... it reduces risk-taking, and hired the restructuring expert Ulrich Koerner as chief executive. The collapse of Archegos caused about $10 billion of losses at banks and wiped out more than $100 billion of shareholder value. The lawsuit was led by a Michigan pension fund, the City of St. Clair Shores Police Fire Retirement System. Its lawyers plan to seek up to 27.5% of the settlement amount, or about $8.9 million, for legal fees. The case is City of St. Clair Shores Police Fire Retirement System ...
Updated: 09/16/2022
S&P 500 hits June's lows as consumer sentiment falls
... remain uncertain about the direction of inflation as Bloomberg s economists estimate a headline CPI of 8%. What Happened to Consumers: Consumer sentiment and consumer expectations rose by 2.2% and 3.3% month over month, according to the University of Michigan Surveys of Consumers . The decline in the energy index has attributed to the decline in consumer sentiment, as the gasoline index has fallen by 18.3% over the past two months. As the next Fed meeting is scheduled for Sept. 20 and 21, many investors ...
Updated: 09/16/2022
US Inflation Expects Lowest Since July 2021
... sign for the Federal Reserve Federal Reserve as it tries to keep its views anchored. Consumers expect prices to climb at an annual rate of 2.8% over the next five to 10 years, the lowest since July 2021, according to a survey from the University of Michigan . The cost of the next year is expected to go up by 4.6%, the lowest since September, according to data released Friday. While fewer consumers stated that supply shortages and gas prices are falling, other measures of inflation are still accelerating ...
Updated: 09/16/2022
Biden showcases electric vehicles at Detroit Auto Show
... Mustang Mach-E was also included in the new electric vehicle. He said that it's amazing the speed. Biden also looked at Ford 's all-electric E-Transit van and F-150 pickup truck. The president drove the Ford F-150 during a factory visit in Dearborn, Michigan last year. Biden was due to announce the approval of the first $900 million in infrastructure funds to build EV chargers in 35 states. In August, he signed the Inflation Reduction Act, which provides $5 billion over five years to help states ...
Updated: 09/16/2022
Consumer sentiment improves in September, but outlook remains low
... near a record low. U.S. consumer sentiment improved modestly in early September, as gas prices continued to decline, but Americans' confidence in the economy remains near a record low. In September, the Consumer Sentiment Index of the University of Michigan rose to 59.5 from August reading of 58.2 but was less than the economists' forecast for a reading of 60.0. That is still more than an 18% drop from just one year ago, when the gauge was at 72.8. Consumer sentiment was essentially unchanged in ...
Updated: 09/16/2022
Stocks and FedEx issued worst warning in 20 years
In the final hour, stocks fell, and FedEx issued the worst warning that one Deutsche Bank analyst has seen in 20 years.712 Buffett Bank investor has seen In the final. In the final hour, stocks fell, and FedEx issued the worst warning that one Deutsche Bank analyst has seen in 20 years. It is not exactly TGIF this Friday. The sellside is slowly realizing that the Fed is going to be aggressive in September after the latest shocking inflation figure, but that the central bank will have to keep rates...
Updated: 09/16/2022
Here are the latest FedEx office closures and earnings report
... a drop-off. The company warned that it won't meet Wall Street's profit target for the first quarter. It said it expects business conditions to weaken further in the current quarter due to weaker global volume. CONSUMER SENTIMENT: The University of Michigan will release its preliminary index in September. It is expected to rise nearly 2 points to 60.0, the third straight month increase after tumbling to an all-time low of 50.0 in June when record-high gasoline prices caused inflation fears. BOEING: ...
Updated: 09/16/2022
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