Canadian Investment Giant’s PG&E Stake Plummets amid California Wildfires

Canadian Investment Giant’s PG&E Stake Plummets amid California Wildfires

The paper loss in PG&E amounts to millions of dollars A wealth manager picked a bottom that wasn’t. California’s wildfires could create even more havoc for the energy utility’s stock. The damage caused by California’s wildfires is now being felt beyond the United States. Canada’s state-owned wealth manager, Alberta Investment Management Corporation (AIMC), has lost…

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Federal Reserve Capitulation Continues as FOMC Slashes Interest Rates to Prop Up Sinking Economy

Federal Reserve Capitulation Continues as FOMC Slashes Interest Rates to Prop Up Sinking Economy

The Federal Reserve lowered its benchmark interest rate by 25 basis points on Wednesday. It was the Fed’s third rate cut in as many meetings. Futures traders are pricing in a fourth rate cut for December. The Federal Reserve’s capitulation to President Trump and stock traders continued Wednesday, as policymakers voted to lower the benchmark…

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