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Goldman Sachs has pushed back against claims of a significant risk from Chinese companies converting their foreign dollar reserves into yuan. The bank’s analysts, including Xinquan Chen, argue that the actual amount of dollar hoarding by Chinese exporters since mid-2022 is around $400 billion, which is lower than some

In New Orleans, nonprofits are experiencing a transformative shift thanks to a significant boost from the NBA Foundation. The National Basketball Association’s newly established $300 million grantmaking arm has been instrumental in supporting organizations dedicated to enhancing economic opportunities for Black youth. One of the most notable impacts has

Zakia Khudadadi has made history at the Paris 2024 Paralympics by becoming the first athlete from the Refugee Paralympic Team to earn a medal. Khudadadi claimed bronze in the women’s 47kg taekwondo category, defeating Turkey’s Ekinci Nurcihan. Her victory was met with immense joy, as she celebrated by

Newcastle defender Kieran Trippier has announced his retirement from international football, ending a distinguished career with 54 caps for England. The 33-year-old, who has been a key figure in England’s recent success, played pivotal roles in major tournaments over the past six years. Trippier’s international career highlights include

Scottie Scheffler has surged to a commanding lead in the Tour Championship, posting a remarkable 6-under 65 in the first round. Starting with a two-shot advantage, Scheffler extended his lead to seven shots, a record margin after 18 holes in the tournament’s history. On a sweltering day at the

Carlos Alcaraz’s impressive 15-match Grand Slam winning streak came to an unexpected halt at the US Open, as he suffered a surprising defeat to Botic van de Zandschulp. The 6-1, 7-5, 6-4 loss in the second round on Thursday night marks Alcaraz’s earliest exit at a major tournament

As the Federal Reserve prepares to cut interest rates, the era of high cash yields may be nearing its end. Despite this anticipated shift, investors continue to flock to money markets, maintaining record-high assets in this traditionally stable investment class. In August, assets in U.S. money markets reached an