London (CNN Business)Happy Monday. A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here. When turmoil erupted in the US overnight lending market in September, it came as a big surprise. The spike in overnight borrowing rates forced the Federal Reserve to come to the rescue, pumping in lots of cash and restarting bond purchases. This eased any panic, and appears to have helped juice the stock market as an unintended side effect. The $4 trillion force propelling US stocks to record highs But a big question has loomed: What caused the shock, unprecedented since the global financial crisis? In a new report, the Bank for International Settlements points to larger problems at play. This corner of the market relies heavily on the largest four US banks — and those banks have been holding more liquid assets in US Treasuries compared to what they store with the Federal Reserve, BIS notes. This could have … [Read more...] about A new theory on what shocked the overnight lending market
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Investigation spurred after photos show raw meat being wheeled into 99 Ranch Market with Costco cart
Images shared on Facebook by Loretta Seto show a man wheeling what appears to be a Costco cart full of raw meat into San Jose's 99 Ranch Market. Images shared on Facebook by Loretta Seto show a man wheeling what appears to be a Costco cart full of raw meat into San Jose's 99 Ranch Market. Photo: Loretta Seto Photo: Loretta Seto Image 1 of / 30 Caption Close Image 1 of 30 Images shared on Facebook by Loretta Seto show a man wheeling what appears to be a Costco cart full of raw meat into San Jose's 99 Ranch Market. Images shared on Facebook by Loretta Seto show a man wheeling what appears to be a Costco cart full of raw meat into San Jose's 99 Ranch Market. Photo: Loretta Seto Investigation spurred after photos show raw meat … [Read more...] about Investigation spurred after photos show raw meat being wheeled into 99 Ranch Market with Costco cart
USDA investigating 99 Ranch Market after outrage over viral raw meat photos
Images shared on Facebook by Loretta Seto show a man wheeling what appears to be a Costco cart full of raw meat into San Jose's 99 Ranch Market. Images shared on Facebook by Loretta Seto show a man wheeling what appears to be a Costco cart full of raw meat into San Jose's 99 Ranch Market. Photo: Loretta Seto Photo: Loretta Seto Image 1 of / 15 Caption Close Image 1 of 15 Images shared on Facebook by Loretta Seto show a man wheeling what appears to be a Costco cart full of raw meat into San Jose's 99 Ranch Market. Images shared on Facebook by Loretta Seto show a man wheeling what appears to be a Costco cart full of raw meat into San Jose's 99 Ranch Market. Photo: Loretta Seto USDA investigating 99 Ranch Market after outrage … [Read more...] about USDA investigating 99 Ranch Market after outrage over viral raw meat photos
Global weapons sales up as US manufacturers dominate world market
(CNN)The global arms industry continues to grow with total sales up 4.6% last year, according to data from the Stockholm International Peace Research Institute (SIPRI) released Monday. The top 100 weapons companies sold $420 billion in arms and military services in 2018, and the top five companies are all from the United States, said SIPRI in a statement. Lockheed Martin, Boeing, Northrop Grumman, Raytheon and General Dynamics made $148 billion in sales, equivalent to 35% of the total. Overall, US companies account for 59% of total sales. Global arms sales by companies listed in SIPRI's top 100 have grown by 47% since 2002, when the SIPRI database was started. It does not include Chinese arms companies due to a lack of reliable data. Sales by Russian companies remained stable year-on-year, with $36.2 billion total sales or 8.6% of the global total. The country's largest arms producer -- Almaz-Antey -- recorded growth of 18%. Trump should continue to follow his instincts on arms … [Read more...] about Global weapons sales up as US manufacturers dominate world market
Drunk raccoon stumbles around German Christmas market, then shot by local hunter
close Video Fox News Flash top headlines for Dec. 9 Fox News Flash top headlines for Dec. 9 are here. Check out what's clicking on Foxnews.com A drunk raccoon stumbled around a Christmas market in Germany on Saturday, according to police, who said the furry creature tripped around until it eventually fell asleep — before it was shot by a local hunter. The "obviously intoxicated" raccoon startled shoppers as it scurried around the market in Erfurt, in the state of Thuringia, after it apparently drank some mulled wine that was left over in glasses. 'DRUNK' RACCOONS SPOTTED STUMBLING AROUND IN CANADIAN NEIGHBORHOOD Despite its drunken state, "a breathalyzer test on the animal was not carried out," a police spokesperson told DW News. A raccoon who apparently drank some mulled (iStock) MINNESOTA CITY SEES INFLUX OF 'DRUNK' BIRDS FLYING INTO CARS, WINDOWS, OFFICIALS SAY Videos that circulated of the trash panda reportedly showed it "wandering … [Read more...] about Drunk raccoon stumbles around German Christmas market, then shot by local hunter