logo
Abby Joseph Cohen Says Fed Likely on Hold, May Cut in 2H

Abby Joseph Cohen Says Fed Likely on Hold, May Cut in 2H

Bloomberg30-07-2025
Abby Joseph Cohen, a Columbia Business School professor, says she's concerned about the potentially disruptive economic impact of President Donald Trump's tariffs in the second half of the year. She speaks on "Bloomberg Open Interest." (Source: Bloomberg)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

BNY appointed investment manager for OpenEden's tokenised US Treasury fund
BNY appointed investment manager for OpenEden's tokenised US Treasury fund

Yahoo

time9 minutes ago

  • Yahoo

BNY appointed investment manager for OpenEden's tokenised US Treasury fund

SINGAPORE (Reuters) -Singapore-based fintech firm OpenEden said on Wednesday it has appointed U.S. financial firm BNY as the investment manager and primary custodian for assets backing its tokenised U.S. Treasury fund. The fund, launched in 2023, provides investors with direct exposure to a pool of short-dated U.S. Treasury bills and overnight reverse repurchase agreements through the minting of Treasury bill tokens. It has nearly $300 million of assets under management. Doni Shamsuddin, head of Asia Pacific at BNY Investments, said this arrangement is the first time BNY is offering both investments and custody services to tokenised funds. BNY, or the Bank of New York Mellon Corporation, will manage the fund and invest in Treasury bills, money market funds and similar assets that will back the tokens issued by OpenEden. The move comes at a time of rising demand for tokenised money market funds and as big U.S. banks debate expanding into cryptocurrencies following strong endorsements from regulators. Tokenisation generally refers to the process of turning financial assets such as bank deposits, stocks, bonds, funds and even real estate into cryptocurrency assets listed on the blockchain. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Spirit Airlines Admits It Might Not Survive Another Year
Spirit Airlines Admits It Might Not Survive Another Year

Gizmodo

time10 minutes ago

  • Gizmodo

Spirit Airlines Admits It Might Not Survive Another Year

Spirit Airlines has just admitted what many suspected: its future is in serious doubt. The news, delivered in a filing with the Securities and Exchange Commission on August 11, sent the company's stock into a freefall, plummeting 41% in a single trading session on Tuesday. Spirit's total market value now sits at a paltry $54.3 million. In the filing, the ultra-low-cost carrier said there is 'substantial doubt' about its ability to continue operating for more than 12 months from the date of its financial statements. Translation: Spirit could disappear by August 2026. The company used the expression 'going concern,' which is an official accounting term that a company is forced to use when it is in severe financial distress and may not have enough money to stay in business. It is one of the gravest signals a public company can send to its investors. The airline — famous for its bright yellow planes and no-frills service — only emerged from Chapter 11 bankruptcy in March after a failed merger with JetBlue. The regulators blocked the merger between the two airlines, arguing that the deal would eliminate a key competitor and drive up fares for consumers. Without the merger, a weakened Spirit was forced to file for Chapter 11 bankruptcy, which it only emerged from in March. But just months later, Spirit says it's still in a deep financial crisis. Spirit blames a brutal mix of factors: too much domestic airline capacity, weak demand for leisure travel, and a tough pricing environment that has dragged down revenue. The company reported a $246 million net loss in the second quarter of 2025. In its SEC filing, Spirit said the downturn is expected to last at least through the rest of the year, even after cost-cutting moves like selling spare engines in sale-leaseback deals, reducing discretionary spending, and furloughing pilots in July. But it hasn't been enough. The company admitted that its financial results are not improving fast enough to meet the minimum cash requirements of its debt agreements and, crucially, its credit card processing agreement, which expires at the end of the year. The airline is now in a last-ditch race for liquidity. It is considering selling off planes, real estate, and excess airport gate capacity. It is also in urgent discussions with its credit card processor, which has requested additional collateral to renew their contract, a deal Spirit cannot afford to lose. Time is running short. Without a dramatic turnaround or a new source of cash, one of America's best-known budget airlines could soon be grounded for good.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store