Business

The Federal Reserve's "smooth transition" from Janet Yellen to Jay Powell is set for a major speedbump.

Just two short days after Donald Trump confirmed what weekly trial balloons had reported for weeks, namely that Janet Yellen is being replaced with most "dovish" alternative possible in the face of former Carlyle partner and 5 year Fed governor Jerome Powell, the person who according to some is even more instrumental to Fed policy than Janet Yellen, NY Fed president Bill Dudley is reportedly leaving.

Traditionally, if you have a great business idea but lack the finances to get the project started, you would pursue funding through a venture capital outlet. There are hundreds of venture capital firms that spend tens of billions of dollars helping businesses get off the ground. However, not all startups attain venture capital funding, and some estimates on venture capital rejections are as high as 99%.

Submitted by Ronan Manly, BullionStar.com

On 29 August, the London Metal Exchange (LME) began publication of a set of daily reference prices for gold and silver. These reference prices aim to capture and reflect paper gold and silver market prices as at 10:30 am, 12:00 midday, and 3:00 pm London time.

October is historically the most volatile month of the year, but in 2017 - the average volatility of US equity markets dropped to an all-time record low...

... And you know something's wrong when, just like in early 2007 when the crash in vol killed the swaptions industry - just before all hell broke loose - Goldman Sachs is pulling back from U.S. options market-making on exchanges.

Authored by Danny Vinik via TheAgenda,

If you’re rich enough, some of your income is taxed at a rate unseen since the ‘80s.

House Republicans claim the tax plan they introduced Thursday keeps the top individual rate unchanged at 39.6 percent - the level at which it’s been capped for much of the past quarter-century. But a little-noticed provision effectively creates a new band in which income is taxed at over 45 percent.