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Should you sell your Affirm stock?
moneyweek62d ago

Should you sell your Affirm stock?

Affirm, a buy-now-pay-later lender, is vulnerable to a downturn. Investors are losing their enthusiasm, says Matthew Partridge

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eastvalleytribune62d ago

Mesa Council rebuffs light rail opponents

Several residents and a councilwoman last week urged the city to stop funding the light trail, calling the transit system that transported 1.8 million Mesa residents last fiscal year a boondoggle.

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Surging euro presents new headache for ECB
enca62d ago

Surging euro presents new headache for ECB

Surging euro presents new headache for ECBEstelle.BronkhorstMon, 02/02/2026 - 09:00 BRUSSELS - A surge in the euro will be in focus at the European Central Bank's meeting this week, as fears grow it could hit the eurozone's export-driven economies and weigh on inflation.The central bank for the 21-nation single currency area is widely expected to keep interest rates on hold for its fifth straight meeting, with consumer price rises currently a touch below the ECB's two-percent target.But the euro's recent gains have complicated the picture and may fuel debate about if and when the ECB should start cutting its key deposit rate from its current level of two percent.Berenberg bank economist Felix Schmidt told AFP that the "big topic" at Thursday's meeting in Frankfurt "will obviously be the euro's strength against the dollar, and what officials will have to say about it".The dollar has been weakening -- and the euro strengthening -- for some time, in particular due to worries about US President Donald Trump's erratic stewardship of the world's biggest economy.But it extended gains sharply last week due to various factors, briefly hitting a four-and-a-half year high above 1.20 against the dollar when Trump appeared to welcome the US currency's weakening.The moves are causing jitters at the ECB -- a stronger euro makes imports cheaper, potentially adding to downward pressure on inflation, at a time officials were already worried about too sharp a slowdown.While stressing recent gains were "modest", Austrian central bank governor Martin Kocher warned that the ECB might have to consider rate cuts if there were further increases in the euro.Lowering borrowing costs tends to support inflation while weakening currencies."If the euro appreciates further and further, at some stage this might create of course a certain necessity to react in terms of monetary policy," Kocher, who sits on the ECB's rate-setting Governing Council, told the Financial Times.The ECB does not target any particular exchange rate, but officials do monitor currency movements as they could impact inflation.A stronger euro is also problematic for the region's export-driven economies, particularly Germany, as it makes the cost of companies' goods pricier overseas. It could thus hit the eurozone economy at a time growth was starting to get back on track, potentially undermining efforts to close the gap with China and the United States.

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Gold, silver, bitcoin and oil slide as ‘metals meltdown’ rattles markets – business live
theguardian62d ago

Gold, silver, bitcoin and oil slide as ‘metals meltdown’ rattles markets – business live

Rolling coverage of the latest economic and financial newsBitcoin dropped to a 10-month low in early trading today, as investors piled out of riskier assets.The world’s largest crypto assset dropped to $74,546, its lowest level since 7 April last year – and further from its record high above $125,000 set last year.The movements in markets on Friday night were a once in a generation event. The mania in gold and silver came to an abrupt halt, with the former crashing by as much as 10% and the latter collapsing by as much as 30%. The move in gold was the largest since the 1920s. The move in silver was the largest in history.While technically stores of value, still with strong long term fundamentals, the total collapse in precious metals prices shows that any market can become gripped by mania, especially in the age of financialisation and gamification. Given the build up of positioning and leverage involved, the sell-off is bleeding into other markets. Continue reading...

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