World shares fall on fears over China, U.S. taxes, central bank policy
The U.S. 10-year treasury note yield rose to touch a two-month high in early U.S. trade, and the dollar touched a three-week high. MSCI’s gauge of stocks across the globe shed 0.58%, the pan-European STOXX 600 index lost 0.82%, while MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.13% higher. “Historically, the Fed waits for data to take a course of action,” Wade Guenther, partner at Wilshire Phoenix said. The dollar index, a gauge of the greenback’s value against six major currencies, rose to 93.094, its highest since late August. [GOL/]U.S. crude recently fell 1.32% to $71.65 per barrel and Brent was at $74.89, down 1.03% on the day.
Source:MetroXpress
September 17, 2021 04:31 UTC
Shares fall on fears over China, U.S. taxes, central bank policy
The U.S. 10-year treasury note yield rose to touch a two-month high, and the dollar touched a three-week high. MSCI’s gauge of stocks across the globe shed 0.82%, while the pan-European STOXX 600 index closed down 0.9% for a third-straight week of losses. Shares in embattled property developer China Evergrande, which has two trillion yuan ($310 billion) in liabilities and faces an $80 million bond coupon payment next week, dropped 30% this week. The dollar index, a gauge of the greenback’s value against six major currencies, rose to 93.206, its highest since late August. [GOL/]U.S. crude recently fell 64 cents to $71.97 per barrel, and Brent settled at $75.34 a barrel, down 33 cents on the day.
Source:MetroXpress
September 17, 2021 04:31 UTC
World shares fall as markets await Fed meeting, taper timeline
The 10-year U.S. Treasury note yield briefly touched 1.3855%, its highest level since July 14, while the dollar hit a three-week high. Investors hope the Fed’s meeting next week will yield more clarity on its plan to slow down asset purchases, and when it might raise interest rates. Shares in embattled property developer China Evergrande, which has two trillion yuan ($310 billion) in liabilities and faces an $80 million bond coupon payment next week, dropped 30% this week. The 10-year Treasury note yield rose 3.9 basis points to 1.3702%. The dollar index, a gauge of the greenback’s value against six major currencies, rose 0.387%, its highest since late August.
Source:MetroXpress
September 17, 2021 04:31 UTC
Dollar hits three-week high, boosted by recent upbeat data, Fed taper view
Speculation about a Fed taper this year gathered pace after U.S. retail sales unexpectedly increased in August, data showed on Thursday, rising 0.7% from the previous month despite expectations of a 0.8% fall. The dollar was up 0.2% against the Swiss franc at 0.9299 francs, after earlier hitting a five-month high. The dollar rose 0.3% to 110.025 yen. The dollar also rose to a two-week high against the offshore yuan and was last up 0.1% at 6.4642. The British pound fell 0.2% to $1.3758 as UK retail sales undershot expectations.
Source:MetroXpress
September 17, 2021 04:20 UTC
Letter: Newton should reconsider ban on nips in favor of solutions that keep businesses strong
MetroWest Daily NewsAs a proud member of the Newton small business community for 10-plus years, I am committed to doing my part to keep Newton the idyllic city that I call home. In August, Newton’s Board of License Commissioners agreed to consider a ban on the sale of alcohol nips (50 or 100 ml bottles) citing littering and public safety concerns. I urge the board to consider alternatives that help address all kinds of litter, while supporting small businesses after a challenging year. Banning nips will remove an important revenue source and could affect our ability to keep our doors open for business. I hope you join me in urging the board to reconsider a ban on nips in favor of solutions that will keep our businesses and community strong.
Source:MetroXpress
September 17, 2021 04:17 UTC
Letter: Framingham is lucky to have Mayor Yvonne Spicer
MetroWest Daily NewsAt a recent event, Sen. Elizabeth Warren applauded the good work of Mayor Yvonne Spicer, expressing great respect for her leadership, achievements and courage as Framingham’s first mayor: “I cannot tell you how much I look forward to your re-election. You are a beacon of light to everyone in Massachusetts. And it shows every day.”Several Massachusetts mayors agreed: Mayor Spicer “is the definition of what it means to be the mayor of a new city”; “inspiring, strong and determined. Framingham is lucky.” She “put Framingham on the map.”Refreshing words from those who know. Maureen and Harold MoranFramingham
Source:MetroXpress
September 17, 2021 04:07 UTC
Letter: Race should not be an issue in mayoral election
MetroWest Daily NewsWith regards to Ms. Greeley’s letter to the editor on Sunday, Sept. 12, I agree with the mayoral candidate who wasn’t named. Race should not be an issue or a factor. We need someone to do the job and work well with others. I think Ms. Greeley may be misinterpreting the candidates meaning. We have had a city government of conflict, overspending and a mayor who does not listen to the people who voted for her.
Source:MetroXpress
September 17, 2021 04:07 UTC
China Evergrande is not ‘too big to fail’, says Global Times editor
HONG KONG (Reuters) -The editor-in-chief of state-backed Chinese newspaper Global Times warned debt-ridden property giant Evergrande Group that it should not bet on a government bailout on the assumption that it is “too big to fail”. Global Times’ editor-in-chief Hu Xijin said on his WeChat social media account on Thursday that Evergrande should turn to the market for salvation, not the government. Evergrande is due to pay $83.5 million interest on Sept. 23 for its March 2022 bond. The bonds would default if Evergrande fails to pay the interest within 30 days. Evergrande shares fell another 13% to HK$2.28 on Friday, the lowest level since Oct 2011.
Source:MetroXpress
September 17, 2021 02:37 UTC
China, growth jitters weigh on global stocks, dollar buoyant
LONDON/HONG KONG (Reuters) – World shares steadied on Friday above three-week lows set in the previous session though they were heading for a weekly loss on China jitters and global growth concerns, while strong U.S. retail sales data buoyed the dollar. The index hit a record high of 749.16 on Sept 7. The pan-European STOXX 600 index rose by 0.7% and UK stocks gained 0.4%. The data also boosted the dollar, which held steady near the previous day’s three-week high against an index of currencies. Hong Kong’s Hang Seng Index rose 0.47%, with traders looking for oversold stocks after the benchmark posted its lowest close in 10 months the day before.
Source:MetroXpress
September 17, 2021 02:26 UTC
Dollar stays near 3-week high after retail sales boost
U.S. retail sales unexpectedly increased in August, rising 0.7% from the previous month despite expectations of a 0.8% fall, while a business sentiment survey by the Philadelphia Fed also showed a big improvement. The dollar index stood at 92.865, near Thursday’s three-week high of 92.965. The euro hit a three-week low of $1.17505 overnight and last traded at $1.1769. The common currency also hit a three-week low of 128.61 yen and one-month low of 0.8501 British pound, before recovering some losses. Elsewhere, sterling eased to $1.3795 while the Australian dollar traded at $0.7294 after touching a three-week low of $0.7274 in the previous session.
Source:MetroXpress
September 17, 2021 00:56 UTC
Courting startups: Singapore lines up funding to boost IPOs
SINGAPORE (Reuters) -The Singapore government on Friday unveiled a S$1.5 billion ($1.1 billion) fund as part of a package to attract listings to the city-state’s stock exchange, aiming to boost its exposure to the region’s booming tech sector. The co-investment fund of the government and state investor Temasek will provide late-stage private finance and investment for initial public offerings (IPOs) on Singapore Exchange. While Singapore is considered one of Asia’s leading financial and business hubs, its bourse has struggled to capture big regional IPOs and has seen a wave of delistings. “As more of our start-ups mature into regional and global companies, having a vibrant home equity market becomes more pertinent,” he said. “The timing is right for this,” said Vinnie Lauria, a founding partner at Singapore-based Golden Gate Ventures, about the new funding.
Source:MetroXpress
September 17, 2021 00:45 UTC
Bob Stacey announces Oct. 15 resignation from the Metro Council
Metro Councilor Bob Stacey announced Thursday that he will resign his seat Oct. 15. Shortly after being elected to the Metro Council in 2012, Stacey was diagnosed with meningioma, which causes tumors to grow in and around the skull. “Bob is a titan of Oregon’s land conservation movement,” said Metro Council President Lynn Peterson. In 2010, he ran for Metro Council President, losing by 0.25 percent – 1,003 votes out of 397,033 cast – to Tom Hughes. “He is wicked smart, articulate, and passionate about finding ways of doing the right thing.”The Metro Council will have until Jan. 13, 2022 to appoint Stacey’s successor.
Source:MetroXpress
September 16, 2021 21:22 UTC
MetroWest Nonprofit Network announces Nonprofit Management Certification class of 2021
Community ContentFRAMINGHAM — MetroWest Nonprofit Network, in partnership with Framingham State University, recently announced that 25 participants have been selected for the inaugural Nonprofit Management Certificate for Practitioners program, with the 12-week online program set to launch on Sept. 24. “This certificate program is an important step towards meeting MWNN’s goal of creating a robust pipeline of next generation leaders who will be charged with leading MetroWest nonprofit organizations,” said Anna Cross, Executive Director of MWNN. “We were humbled by the enthusiasm applicants, funders and leaders of the nonprofit community expressed for the program. We hope this program will give future leaders not only the skills and information needed to lead organizations successfully, but also connect them to a network of colleagues and supporters who they can count on long after they complete the program.”Generous support from the TJX Charitable Foundation, the Middlesex Savings Charitable Foundation, Digital Federal Credit Union Charitable Foundation, Main Street Group Foundation, the Rusche Epperly Family Trust, and individual donors, provided program support and scholarship funds that were critical in providing access for applicants who would have otherwise been unable to participate. The larger than anticipated pool included a diverse group of applicants from a number of MetroWest communities and organizations.
Source:MetroXpress
September 16, 2021 21:11 UTC
Fantastic Five high school players from Wednesday, September 15, plus all the scores
Emma Ballard, Blackstone Valley TechThe senior scored four goals and had an assist for BVT (2-0) in a 5-0 win over Bay Path. Emma Guadagnoli, Blackstone Valley TechGuadagnoli scored three goals as BVT improved to 3-0 with a 4-1 win over Monty Tech. DOVER-SHERBORN 218, Hopkinton 240: Curtis Bowman and Ben Schroeder each shot a 2-over 34 as D-S (2-0, 1-0 TVL) knocked off TVL foe Hopkinton at Natick’s Sassamon Trace Golf Course. Girls Cross CountryHOLLISTON 16, Medfield 39: Holliston sophomore Carmen Luisi won in 18:47 as the Panthers (2-0 overall, TVL) ran by Medfield. HOPKINTON 15, Norwood 50: Junior Autumn Tumbleton ran Norwood’s 5K course in 20:20 as Hopkinton swept in its season-opening meet.
Source:MetroXpress
September 16, 2021 18:45 UTC
Australia agrees to increased U.S. air deployments after sub deal
WASHINGTON (Reuters) – Australia and the United States announced expanded military cooperation on Thursday, including rotational deployments of all types of U.S. military aircraft to Australia, a day after announcing a submarine deal denounced by China as intensifying a regional arms race. The United States, Britain and Australia were “severely damaging regional peace and stability, intensifying an arms race, and damaging international nuclear non-proliferation efforts,” Chinese Foreign Ministry spokesman Zhao Lijian said. The White House defended the U.S. decision to provide Australia with advanced technology for nuclear-powered submarines, rejecting criticism from both China and France. Blinken said the United States had been in touch with French counterparts in the last 24-48 hours to discuss the new partnership with Australia. Dutton said the nuclear-powered option France had was “not superior” to that operated by Britain and the United States.
Source:MetroXpress
September 16, 2021 18:33 UTC