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Opinion The scientific community celebrated April 14 as World Quantum Day to raise awareness of quantum science’s impact across diverse fields The world of science is on the cusp of a transformative era driven by the burgeoning field of quantum technology. Quantum science is founded on several key principles that underpin the behaviour of particles and systems at the quantum scale. The term “quantum scale” refers to the realm of physics that deals with phenomena occurring at very small scales, typically at the level of atoms, subatomic particles and fundamental particles. It encompasses the principles of quantum mechanics, which govern...

-A year after Silicon Valley Bank's failure, less than half of U.S. banks have established borrowing capacity by pledging collateral at the Federal Reserve's emergency lending facility, according to Fed data released on Friday. That's despite a crescendo of calls from financial regulators for banks to make sure they can access the Fed's discount window quickly if trouble arises. But the data also showed some real progress, with an increase in the number of banks signing up and a jump in the amount of total collateral pledged. SVB's inability to access the window in March of last year in the...

Three years ago, 28-year-old Blaisey Arnold entered a local auto dealership and came away with the keys to an $84,000 Chevy Tahoe. But this month, the wedding photographer and mother shared a video to TikTok describing how she was forced to sell her dream car.

If you plan to deposit $10,000 or more into your checking account, there are a few things you should consider first. By law, banks have to report deposits that exceed a certain amount. Not only that, but many bank accounts come with maximum deposit restrictions. You may also be subject to certain fees when making such a large deposit. If you frequently make large deposits, you should also watch out for any potential scams or fraudulent activity. But even if this is a one-time thing, it’s still important to know about these factors and how they might affect you. Banks...

The combined net worth of the 10 richest people in finance reached $446.9 billion in 2024.Here, Visual Capitalist's Niccolo Conte ranks them based on Forbes data as of Feb. 1, 2024.The Oracle of Omaha93-year-old Warren Buffett heads the list. The chairman and CEO of Berkshire Hathaway has a net worth of $128.7 billion.Buffett’s Berkshire Hathaway portfolio is 62% invested in only three stocks: Apple (42.9%), Bank of America (10.2%) and American Express (9.1%).Based in Omaha, Nebraska, where he has spent much of his life and where Berkshire Hathaway is headquartered, Buffett is also the 6th richest person in the world.In...

Conservative commentator Ben Shapiro announced last week to the more than 15 million monthly listeners of his eponymous podcast that he wouldn’t just vote for Donald Trump, he would also co-host a fundraiser for the former president.Because the choices for president are identical to 2020, Shapiro said he would “walk over broken glass” to support Trump. Almost immediately, he had an opportunity. Trump said Monday that “any Jewish person that votes for Democrats hates their religion,” comments that the White House quickly condemned as “vile and unhinged antisemitic rhetoric.”Shapiro, an Orthodox Jew and outspoken ally of Israel, provided a quick...

The financial landscape for many Americans is far from secure, as recent studies shed light on the alarming state of savings at life’s end. According to a report from the National Bureau of Economic Research, a significant portion of Americans – 46% to be exact – exit life with a sobering financial snapshot: $10,000 or less in their savings accounts. This revelation strikes at the heart of the retirement crisis narrative, contrasting the security of pension plans and Social Security benefits with the harsh truth of inadequate personal savings. The study followed seniors from 1993 to 2008, revealing a complex...

....A California Democratic assemblymember's new bill states that an individual's immigration status can't disqualify an applicant from the program.... ...The bill is set to expand eligibility criteria for a state loan program to expand these loans to include undocumented migrants that are first-time buyers.... ....The bill focuses on the California Dream for All Shared Appreciation Loans program, which launched spring of 2023 to give qualifying first-time home buyers a loan that covers up to 20% of a property’s purchase price that will not accumulate interest or have required monthly payments .... ..."Folks, the bipartisan border security bill is a win...

A majority of America's largest cities are broke and unable to meet their liabilities, according to a new analysis. In its eighth annual Financial State of the Cities report, the right-leaning think tank Truth in Account determined that as of 2022, 53 of the country's 75 largest cities have fewer assets than liabilities. The report notes:At the end of the fiscal year 2022, 53 cities did not have enough money to pay all of their bills. This means that to claim their budgets were balanced—as is required by law in the 75 cities—elected officials have not included the actual costs...

The Biden Administration has admitted to surveilling the private financial transactions of Americans for words including 'MAGA', 'Trump' and 'Kamala' following the January 6 riots. Federal investigators in the Treasury's Financial Crimes Enforcement Network (FinCEN) instructed banks to comb through records to look for 'extremists'. A letter from the Treasury Department, seen by Fox News, was sent to Senator Tim Scott on Friday which states 'Exchange events' began 'shortly after January 6 under the prior Administration'. It said it 'included terms such as "antifa," "MAGA," "Trump," "Biden," "Kamala," "Schumer," and "Pelosi."' The federal government was specifically 'watching' Trump supporters and...

Taking steps to manage your privacy settings and data is an important part of emergency preparedness actions we all should take.Why Data Privacy Matters Take Control During Data Privacy Week [It's a matter of personal responsibility]

For the first time since 2012, Sam Dogen is getting a day job. That’s the year that Dogen quit his job as an investment banker, having spent 13 years working, saving, investing and generally burning himself out. At age 34, his portfolio and real estate investments were generating about $80,000 a year — enough for he and his wife to live on in perpetuity. So, he took his severance and left. His wife did the same in 2015. ...Over the years, Dogen built his passive income streams to about $380,000 annually — $288,000 net of taxes. That was enough to...

The Dow Jones Industrial Average closed above 38,000 for the first time on Monday, setting a record high and capping a steady rise that stretches back to last week. The S&P 500 also reached a record high, closing at about 4,850. The tech-heavy Nasdaq inched up to 15,360 by the end of trading on Monday. The major stock indexes kicked off the year with sluggish performance but began to turn upward in the middle of last week. The recent surge follows a stellar showing for markets in 2023, driven in large part by optimism about the prospects for a "soft...

It may not seem unusual that a corporate CEO would want to focus on increasing shareholder value, but in October this was treated as big news. A Financial Times headline announced that "Unilever's new chief says corporate purpose can be 'unwelcome distraction.'" That new CEO, Hein Schumacher, went on to explain that he rejected the idea that "every brand should have a social or environmental purpose." He intended, he said, to build a "performance culture" instead. Why would it be newsworthy for a CEO to be focused on corporate performance? Not long ago, that was simply assumed. What changed? The...

"China's state-owned banks are tightening curbs on funding to Russian clients as they fear being subjected to secondary sanctions from the U.S., according to a Tuesday report by Bloomberg... "...Chris Weafer, chief executive officer of strategic consultants Macro-Advisory Ltd., which focuses on Russia and the Eurasia region, previously told Newsweek that Russia should be wary of this increased reliance on China. "While China is eagerly buying energy and materials and selling Chinese-made goods to the Russia market, all of which suits Beijing, there is very little investment coming into Russia, certainly nothing like enough to replace the lost investment from...

American civilization has been turned upside down, and we have a rendezvous soon with the once unthinkable and unimaginable. In the last six months, we have borne witness to many iconic moments evidencing the collapse of American culture. The signs are everywhere and cover the gamut of politics, the economy, education, social life, popular culture, foreign policy, and the military. These symptoms of decay share common themes. Our descent is self-induced; it is not a symptom of a foreign attack or subterfuge. Our erosion is not the result of poverty and want, but of leisure and excess. We are not...

Trump Predicts the Fed Will Lower Rates to Help Democrats We also were keen to ask Trump if he thinks the Federal Reserve and Chairman Jerome Powell will cut interest rates specifically to help Joe Biden (or another Democrat) win the general election. The former President said he does think that is how things will play out. "Yeah, I think they will,” he said, before taking a light dig at Powell. “I was never a big fan of this guy,” Trump told us, before casually pointing the finger at his own Treasury Secretary. “Steve Mnuchin recommended him, but I was...

If, and when, a recession ever occurs again in any of our lifetimes - certainly not in the golden age of Bidonomics, pain will be felt disproportionately as usual.Sectors which fare better will typically exhibit;Less cyclical exposureLower rate sensitivityHigher cash levelsLower capital expendituresAs such, Visual Capitalist's Dorothy Neufeld takes a look at the sectors most resilient to recession risk and rising costs, using data from Allianz Trade. Recession Risk, by SectorAs slower growth and rising rates put pressure on corporate margins and the cost of capital, we can see in the table below that this has impacted some sectors more...

Has anyone considered the impact of Biden/Mayorkas’s open southern border with Mexico? Other than the crime, stress on existing services like healthcare, schools and Social Security. But where will the 8 million illegal immigrants reside? Well. the Biden Administration has an answer: throw money at it! This time, $45 billion to convert empty office space to homes. Not just for illegals, but for anyone. Conversion from office space to apartments is getting harder. Let’s discuss why, and also what the effort is really all about. Only 3,575 apartment units were converted from office space last year. The already fraught process...

[…]Small banks, the underdogs of the financial ecosystem, have been hit particularly hard. Rising interest rates, which should spell prosperity for these institutions, have instead become harbingers of doom. Take the sad tale of Iowa-based Citizens Bank. Once a pillar of its community, now the fifth to fall this year, it has been declared insolvent.Regulators from the Iowa Division of Banking have unearthed significant loan losses, ones that had slithered undetected beneath the bank’s watch. Triggered by a spate of bankruptcies in the trucking sector, amidst a nationwide freight recession, the bank’s collapse is but a symptom of a much...