Business Times

China's central bank, the People's Bank of China (PBOC), maintained its key policy rates unchanged on Monday, signaling a likely hold on the benchmark lending rate later this month. This decision comes as the nation grapples with mounting pressures on its currency and a slowing economy.

China's Central Bank Holds Rates Steady Amid Yuan Pressure and Economic Slowdown

(Reuters) - U.S. banks have reaped a windfall from higher interest payments on loans, but commentary from some top executives suggests they could face an uncertain path ahead. Waning demand from borrowers and slowing consumer spending could weigh on bank earnings in the coming months. Here are some comments from...

US Bank Executives Discuss Consumer Outlook

Reuters

SHANGHAI (Reuters) - Financial institutions snapping up Chinese government bonds are basically shorting the Chinese economy, China's central bank-backed Financial News reported on Saturday, citing what it said were the views of industry sources and experts.

Institutions snapping up Chinese treasury bonds are shorting the economy, state media says

The dollar index (DXY00) Friday fell by -0.33% and posted a 5-week low. Friday’s rally in the S&P 500 to a new all-time high curbed liquidity demand for the dollar. The dollar was also undercut after the University of Michigan’s US consumer sentiment index unexpectedly fell to an 8-month low, which improves the prospects for Fed rate cuts. The dollar has carryover pressure from Thursday’s weaker-than-expected US CPI report, which boosted the chances for a Fed rate cut at the September FOMC meeting. A supportive factor for the dollar was Friday’s stronger-than-expected US PPI report, a hawkish factor for Fed policy.

Dollar Slides on Improved Fed Rate Cut Prospects

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NewSantaAna

The FBI has seen a rise in scams targeting timeshare owners. In this kind of scam, criminals con these part-time property owners into shelling out hefty sums of cash, all under false pretenses related to their timeshare properties.

FBI warns that Mexican cartels are targeting Americans with timeshare scams

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Markets Insider

The S&P 500's record-setting rally this year has sparked a wave of price target increases from Wall Street. The most bullish S&P 500 price target is 6,000 from Evercore ISI, which represents a gain of about 7%. Key bullish drivers includes AI benefits, consumer resilience, and imminent Fed rate cuts.

Wall Street is bullish on stocks for the 2nd half of the year. Here are each firm's exact forecasts.

California State

Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

Anika Jindal

Affluent people can splurge their money on the most luxurious possessions and lifestyles. However, most rich people are wise with money, refrain from making unnecessary purchases, and instead put their money to profitable use. Check out the list of 12 such things.

12 Things People Who Are Good With Money Will Never Spend On

NEW YORK/LONDON (Reuters) - World stock indexes mostly rose and the U.S. dollar strengthened on Tuesday after solid U.S. retail sales signalled resilience in the economy. Data released on Tuesday showed retail sales unchanged in June from a May reading that was higher than initially estimated.

Stocks, dollar gain after US retail sales data; focus still on Trump

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The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

Butler, PA

BETHEL PARK, Pennsylvania (Reuters) -The portrait pieced together so far of the 20-year-old nursing home aide who allegedly tried to assassinate Donald Trump at an election rally reveals frustratingly little about why he would make such an attempt - or how he managed to come so close to killing the former president.

Suspect Came Within Inches of Killing Trump, but Left Few Clues as to Why

(Reuters) -Misinformation and conspiracy theories were spreading online after an assassination attempt on former U.S. President Donald Trump at a campaign rally on Saturday. Thomas Matthew Crooks, 20, was alleged to have shot at the Republican presidential candidate from a rooftop during the rally in Butler, Pennsylvania, wounding Trump's right ear. One spectator died and two others were injured.

We Fact-Checked Some of the Rumors Spreading Online About the Trump Assassination Attempt

The Independent

 Shoppers paused their spending June from May as they wrestle with moderating inflation but still high interest rates that have made buying anything on credit more expensive.Retail sales were unchanged in June from May, which was better than economists expected, after being revised at up 0.3% in May, according to the Commerce Department. Last month, April sales were revised downward — a 0.2% decline, from unchanged. Sales rose 0.6% in March and 0.9% in February. That comes after sales fell 1.1% in January, dragged down in part by inclement weather.Excluding gas prices and auto sales, retail sales rose 0.8%.Online...

Retail sales unchanged in June from May as inflation moderates

LONDON (Reuters) - China's copper scrap imports have soared due to shortages of concentrate that is processed into refined metal used in the power and construction industries, but record high prices mean U.S. shipments are likely to pause.

Record copper prices likely to pause U.S. scrap shipments to China

HONG KONG (Reuters) - The attempted assassination of Donald Trump has spawned a frenzy of online merchandise featuring a picture of the U.S. presidential candidate just after he was shot, with slogans such as "Bulletproof", "Legends Never Die", "Grazed but not Dazed", "Shooting Makes Me Stronger." With prices ranging anywhere...

Trump T-Shirts Go Viral: 'Grazed, but Not Dazed,' 'Legends Never Die'

Gold prices gained on Monday, hovering near a more than one-month high hit last week, aided by hopes for interest rate cuts from the Federal Reserve as traders await for more comments from Fed officials to gauge the timing of those cuts. Spot gold rose nearly 0.5% at $2,422.79 per...

Gold hovers near one-month peak as Fed cut rate hopes lend support

Yields and prices move in opposite directions and one basis point equals 0.01%. On Monday, Federal Reserve Chair Jerome Powell said the central bank will not wait until inflation has reached its 2% target rate before cutting interest rates. Waiting to cut rates until the target has been reached would...

10-year U.S. Treasury yield edges lower following Powell commentary

Fortune

Get ready for a bonanza of rate cuts from the Federal Reserve that starts in a few months and extends all the way into next summer, according to analysts at Citi Research. In a note on Friday, the bank cited fresh signs of a slowing economy for its view that the Fed will trim rates by 25 basis points eight times, starting in September and extending to July 2025.

The Fed could slash rates by 200 points over 8 straight meetings as the economy heads for a sharper downtrend, Citi says

(Reuters) -The dollar dropped on Thursday after data showed headline consumer prices unexpectedly fell in June, while a sharp gain in the Japanese yen sparked speculation of a possible intervention in the currency.

Dollar drops, yen surges as consumer prices fall in June

NewsBreak

China Central Bank Leaves Medium-Term Rate Unchanged as Expected

SHANGHAI (Reuters) -China's central bank left a medium-term rate unchanged as expected on Monday when rolling over maturing medium-term loans. The steady medium-term lending facility (MLF)...

China Central Bank Leaves Medium-Term Rate Unchanged as Expected

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