1) The $9 trillion dollar business of financing global trade has become vulnerable to forgers who are so adept at faking documents used by banks that it has become necessary to go paperless. This means going digital which will also make the financing process more efficient.
2) The just purchased newspaper, the New Orleans Times-Picayune, has laid off its entire staff of 161 workers including 65 reporters and editors. Their competitor, the New Orleans Advocate who purchased them, will publish a daily paper using the names of both brands.
3) Two Federal Reserve policymakers have voice concerns about weak inflation. Some bankers see weak inflation as a growing case for a future interest rate cut, even though others are pushing for continued patience.
4) 3 MAY 19 Stock market closings:
Dow 26,504.95 up 197.16 Nasdaq 8,164.00 up 127.22 S&P 500 2,945.64 up 28.12
1) FedEx stock dropped as it missed it estimates for quarterly profit for the second time. FedEx is considered by many to be a bellwether for the global economy and their forecast for global trade growth proved to overly optimistic.
2) Newark New Jersey plans to implement a Basic Universal Income despite other countries who have tried this social plan and have abandoned it. Canada and Finland have found it unworkable and does not have any apparent benefits. Newark has not proposed any means to fund the program.
3) The on going college admission scandal is building resentment among the Z-generation over the special standing and access given to fellow kids because their parents have exceptional monetary means. Their parents are buying entry to ivy league colleges thereby denying access by other students who have actual qualifications for entry.
4) 19 MAR 19 Stock market closings:
Dow 25,887.38 down 26.72 Nasdaq 7,723.95 up 9.47 S&P 500 2,832.57 down 0.37