According to the Royal Bank of Canada, it is now more difficult for Canadians to buy a home than ever before. This is because the cost of mortgages has increased significantly, offsetting any benefits that lower prices may have had.
According to Bloomberg Economics, the average monthly cost of a two-year fixed-rate mortgage will increase by 70% by March from January this year.
According to Citadel Founder and CEO Ken Griffin, a recession will occur in the U.S., but when and how hard it will be is unknown. "We're very focused on the possibility of a recession," he said Wednesday at an investment conference in New York City.
A lawyer representing a conservative legal group has filed the first legal challenge to President Joe Biden's plan to cancel up to $20,000 in student debt for millions of Americans. The lawyer argues that the president does not have the authority to cancel student debt without congressional approval.
The recent drop in the value of the British pound is having mixed effects on higher education. Some institutions are seeing an increase in applications from overseas students, while others are struggling with budget cuts.
Ahmet Arinc, the former head of foreign exchange trading at Deutsche Bank AG, is shutting down his hedge fund after four years to join bigger rival ExodusPoint Capital Management. Arinc and his team will be responsible for managing ExodusPoint's foreign exchange trading operations.