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US banking groups have urged the country’s banking watchdog to postpone its decision on crypto companies’ bank licenses until more details about their plans are public, claiming that allowing the bids would be “a fundamental departure” from current policy.The American Bankers Association and other bank and credit union trade groups said in a letter to the Office of the Comptroller of the Currency (OCC) on Thursday that its approval of national bank charters for the likes of stablecoin issuers Circle Internet Group and Ripple Labs “would raise significant policy and process concerns.”“There are significant policy and legal questions as to…
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Gold price posts modest gains around $3,350 in Monday’s early Asian session. Economic uncertainty and lower interest rates boost safe-haven flows, supporting the Gold price. The upbear UoM survey might help limit the Gold’s losses. The Gold price ( XAU/USD) trades with mild gains near $3,350 during the early Asian session on Monday. Uncertainty around trade talks is likely to support Gold’s safe-haven demand as a tariff deadline with the US looms. Traders will take more cues from the speech from Federal Reserve (Fed) Chair Jerome Powell later on Tuesday. US Commerce Secretary Howard Lutnick said on Sunday that August 1 is the deadline for…
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Weekly US Dollar Index (DXY) The U.S. Dollar Index (DXY) gained 0.61% over the week, closing near 98.46. However, gains were modest in the context of soft inflation data and firm rate-cut pricing. With further policy easing expected, upside in the dollar appears limited—an environment that typically supports dollar-denominated assets like silver. Inflation and Trade Risks Support the Bullish Case Consumer price data came in as expected, with headline CPI rising 0.3% month-over-month and core CPI up 0.2%. Producer prices were unchanged, offering no fresh pushback to dovish market expectations. The absence of inflation surprises has strengthened the case for easing,…
It’s been about two weeks since President Donald Trump’s “big beautiful bill” became law, and financial advisors and tax professionals are still digesting what the sweeping legislation means for clients.Meanwhile, several changes are effective for 2025, which will impact tax returns filed in 2026.While the Trump administration has been promoting “working family tax cuts,” the legislation’s impact depends on your unique situation — and some updates are complex, experts say. “There are just so many moving pieces,” said certified financial planner Jim Guarino, managing director at Baker Newman Noyes in Woburn, Massachusetts. He is also a certified public accountant.Currently, many…
Speaker of the House Mike Johnson (R-LA) (C) signs the One Big Beautiful Bill Act during an enrollment ceremony with fellow Republicans in the Rayburn Room at the U.S. Capitol on July 03, 2025 in Washington, DC.Chip Somodevilla | Getty Images News | Getty ImagesIt’s been about two weeks since President Donald Trump’s “big beautiful bill” became law, and financial advisors and tax professionals are still digesting what the sweeping legislation means for clients.Meanwhile, several changes are effective for 2025, which will impact tax returns filed in 2026.While the Trump administration has been promoting “working family tax cuts,” the legislation’s…
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Park City School District’s former COO Michael Tanner filed a defamation lawsuit against local freelance journalist Michelle Deininger in 3rd District Court July 17.Deininger’s Nov. 19, 2024, story published in The Park Record raised concerns about Tanner’s compensation package and remote work agreement. The report alleged Tanner lived and worked part-time in Chicago during his tenure with the district.Tanner contends the story contributed to the elimination of his COO position months later and has made it difficult for him to find another job.He is seeking a jury trial and monetary damages in excess of $300,000. No date for a hearing…
LONDON, July 20 — HSBC has relaunched its global search for a new chair after failing to finalise a shortlist from an initial pool of more than 100 candidates.The bank, which is Europe’s largest lender, is trying to replace Sir Mark Tucker, who will step down in October to chair AIA, with people familiar saying the recruitment process had been slow, the Financial Times reported.Executives considered by HSBC include Zurich Insurance Group CEO Mario Greco, Goldman Sachs’ Kevin Sneader and Richard Gnodde, and former Lloyd’s of London chair Bruce Carnegie-Brown.However, several candidates approached were either unavailable or declined the role,…
