Syrian banks remove deposits from their branches in “hot spot” areas and transport the cash to their head offices in Damascus. However, a lot of money is going missing on the way due to robbery, theft and payoff to gangs. Moreover, Syria also faces fuel shortage and a power outage in Damascus after an attack on the main power line.
- In One Chart: Households pounce on $25 trillion Treasury market as yields jumpHigher yields in the $25 trillion U.S. Treasury market are a hit with households since the Federal Reserve began aggressively raising interest rates.
- The Margin: The restaurant behind David Brooks’s viral $78 Newark Airport meal is serving the same burger dish for just $17.78The New Jersey restaurant operator is now offering the 'D Brooks Special' at its Trenton location. Yes, the booze is included.
- Top Ten: How to protect your portfolio if you expect the 10-year U.S. Treasury yield to jump to 6%Also, housing costs and a possible mistake by the Fed, how long high CD rates might last, an interview with Palantir's CEO and an investment case for Micron.
- Key Words: Record-low poverty was fleeting, PPP was a ‘waste of money,’ and more lessons from the U.S. pandemic response"In the long run, we’re building evidence about which policies work and which policies don't" to help alleviate poverty, one expert says.
- Brett Arends's ROI: This quiet crisis, unfolding now, is the future of Social Security and MedicareTeachers, firefighters, cops and other public employees are retiring. They need the money they were promised.
- The Fed: Bowman says Fed needs to raise interest rates higher to curb inflationFederal Reserve Gov. Michelle Bowman said it "will likely be appropriate" to raise interest rates further "because inflation is still too high."
- : ‘If we do nothing, Social Security will be bankrupt in 10 years,’ Republican presidential candidate Nikki Haley saysRepublican candidate Nikki Haley wants to raise retirement age, limit benefits for some, to save Social Security
- : UAW to expand strike to 38 GM and Stellantis auto-parts distribution centers in 20 statesUAW President Shawn Fain said Friday that union members will strike next at 38 auto-parts distribution centers at GM and Stellantis if no progress is made. Ford has made concessions.
- : The new obstacle to climate innovation: activistsClimate activists' increasingly aggressive and public criticisms of climate-conscious businesses are having the opposite intended effect.
- : More than 236,000 global tech workers have been laid off so far this yearNetworking giant Cisco Systems Inc. will lay off 350 employees in Silicon Valley next month