Workers are miserable these days Getty Images/iStockphoto Nearly 1 in 5 workers reports being miserable at work, according to Gallup’s recent “State of the Global Workplace: 2022.” And a global study ...
Tag: Banking
This trader sees a 43% drop for the S&P 500 and says to take shelter in these ETFs instead.
A day after the Dow DJIA, -0.11% climbed out of bear territory on hopeful comments by Fed Chairman Jerome Powell, stocks look ready to rethink on that optimsim, even after fresh inflation data showed ...
‘Somehow we live check to check.’ We make over $200K a year, but owe $100K on HELOC loans, never learned to save money and feel like we’ll never be able to retire. Do we need professional help?
Do you need a financial adviser? Getty Images Question: My wife and I are looking for help. We have never really learned how to save money, and we are really terrible at it. We both come from poor fam...
Indonesia Wants to Counter ‘Shadow Central Banking’ With CBDC
In Indonesia, the central bank has formally laid out plans for a central bank digital currency (CBDC), pitched to combat what it calls rising “cryptoization” of the country’s digital economy. Bank Ind...
Senate Banking Committee chair calls for coordination with Treasury on crypto
Sherrod Brown, chair of the United States Senate Banking Committee, has called on Treasury Secretary Janet Yellen to work with financial regulators and lawmakers on comprehensive crypto legislation “i...
Hardship withdrawals from 401(k)s reach ‘concerning’ all-time high, Vanguard says
Amid stubbornly high inflation, a record-breaking share of Americans are turning their 401(k) accounts into emergency piggy banks, according to Vanguard. Dissecting data from a sample of the approxima...
Sam Bankman-Fried’s FTX roadshow goes on: 10 crazy things he’s just said
Sam Bankman-Fried sure isn’t going quietly into the night. With his crypto empire in ruins, numerous federal probes and years of litigation hanging over his head, the FTX founder has counter-intuitive...
Dow ends over 700 points higher to exit bear market after Powell signals smaller interest-rate hikes ahead
U.S. stocks finished sharply higher on Wednesday, with the Dow Jones Industrial Average rising over 700 points to technically exit a bear market, after Federal Reserve Chairman Powell said the central...
Alameda bought this obscure OTC desk to handle FTX banking
HiveEx, an Australian over-the-counter (OTC) trading desk, was purchased by Alameda Research in 2020 and subsequently used to accept deposits for FTX. What was HiveEx? HiveEx was an OTC desk in Austra...
Suze Orman says, ‘We’re heading downhill very fast,’ unless employers start providing this lucrative benefit to their workers
Americans trying to save some cash for unforeseen expenses are up against a lot — months of red-hot inflation, wages that don’t keep up, the sheer difficulty of delayed gratification in a time when pe...
‘Wealth effect on steroids’: Here’s the potential fallout from $22 trillion lost by investors this year, according to BofA
Bank of America says a “wealth effect on steroids” may impact the U.S. economy as a result of the fall in the value of stocks and bonds and other assets worth trillions of dollars in 2022. “The $22 tr...
20 dividend stocks with high yields that have become more attractive right now
Income-seeking investors are looking at an opportunity to scoop up shares of real estate investment trusts. Stocks in that asset class have become more attractive as prices have fallen and cash flow i...
Crypto lender BlockFi is suing Sam Bankman-Fried over his shares in Robinhood: report
Just hours after filing for Chapter 11 bankruptcy in New Jersey on Monday, cryptocurrency lender BlockFi filed a lawsuit against a holding company by FTX founder Sam Bankman-Fried over his shares in t...
In mid-November, mortgage rates saw their biggest decline since 1981. Here’s what 6 pros say will what happen next
The latest mortgage rates Getty Images/iStockphoto For most of 2022, the trend of mortgage rates was generally up and then up some more. But in mid-November something big happened: Thanks to better-th...
Fed’s shrinking of balance sheet via quantitative tightening is ‘a complete mistake,’ says Mizuho
The Federal Reserve’s attempt at shrinking its balance sheet through so-called quantitative tightening, or QT, is “a complete mistake,” according to Mizuho’s chief economist for the U.S. “There is a ...
‘We see major stock markets plunging 25%,’ says Deutsche Bank
A U.S. recession induced by central-bank efforts to curb inflation is likely to arrive by mid-2023 and trigger a sharp and “temporarily painful” decline in equities, according to Deutsche Bank researc...
Stock Hits New Record Low After Banking Giant Warns Of ‘Substantial’ Losses
Topline Shares of Swiss banking giant Credit Suisse tumbled to a new record low Monday after the company warned last week it faces a billion-dollar profit shortfall this quarter—intensifying a weeks-l...
Chia Network Chief Legal Officer Thomas Chow to Speak at FT Global Banking Summit
Leading cryptocurrency legal expert to discuss how digital banking transformation, compliance, and regulation are changing the cryptocurrency game LONDON & SAN FRANCISCO–(BUSINESS WIRE)–Chia Netwo...
India Banking Regulator Asks Paytm Unit to Reapply for License
(Bloomberg) — India’s banking regulator asked a unit of Paytm to resubmit its application for approval required to provide payment aggregator services, a potentially lucrative business the compa...
Shinhan Financial’s U.S. Unit Ordered to Beef Up Money Laundering Oversight
A U.S. unit of South Korea’s Shinhan Financial Group has agreed to bolster the oversight of its anti-money-laundering program as part of a settlement with the Federal Deposit Insurance Corp. Shinhan B...
Binance launched a proof-of-reserves system for bitcoin holdings. What are proof of reserves?
Crypto exchange Binance launched a new website that explains its proof of reserves system. But why did the company do it and what does it mean? Here’s a breakdown of why the term has been making its r...
More people use ‘buy now, pay later’ for holiday shopping, but experts say that’s a double-edged sword
Online purchases using the BNPL rose by 13% year-on-year in November, according to Adobe Analytics. That figure does not take into account Thanksgiving or Black Friday spending. “In an uncertain econo...
Where to Get Yields of 10% and Up, if You Can Stomach a Little Risk
The $280 billion convertibles sector is replete with 10%-plus yields on many issues. There is a risk in these high-yielders, but they can offer nice appreciation potential and a good alternative to th...
Investors Have Lost Faith in Crypto Exchanges. JPMorgan Sees an Opportunity.
A string of crypto business failures has stranded millions of dollars in customer funds this year, underscoring the level of trust needed for groups that are custodians of digital assets. JPMorgan Cha...
Binance U.S. Arm to Bid for Bankrupt Voyager Digital’s Assets After FTX Collapse
The U.S. arm of Binance, the world’s largest cryptocurrency exchange, will make a bid for bankrupt lender Voyager Digital following the collapse of FTX, which in September won an auction for the comp...
Why Deutsche Bank Told Clients to Stay Away From American Banks
It’s always fascinating to observe how Americans are perceived by people from other places — depending on the country and the circumstances, common stereotypes range from unhealthy food t...
Can You Buy Bitcoin Without an Exchange Like FTX? We Tried.
Bitcoin is supposed to be a “trustless” token, but you’ll still need to place your trust in someone or something. Illustration by Barron’s Staff FTX’s bankruptcy got us wondering: Can you buy Bitcoin ...
FTX stake in US bank raises concerns about banking loopholes
The bankruptcy proceedings of cryptocurrency exchange FTX have revealed many new aspects of its unethical practices. The latest revelation around its stake in one of the smallest United States banks f...
How to Put Together an All-Cash Home Purchase
As home-financing costs have skyrocketed, cash is king once again. Nearly one in 10 new homes in the third quarter were purchased with cash, according to Census Bureau data—the largest share since 201...
Genesis meltdown: Why investors are worried about bigger problems for crypto
Investors are worried that liquidity problems for crypto financial-services firm Genesis could spill over to its parent company, Digital Currency Group, and damage the already battered crypto market e...
Binance CEO Changpeng Zhao: ‘No amount of other people’s tweets would cause problems’ if an exchange holds customer assets
Perhaps it’s one last dagger, but Binance CEO Changpeng Zhou just could not resist a little dig at the fallen FTX chief executive Sam Bankman-Fried. That’s a reference to the role the cryptocurrency t...
Banks are short more than $1 trillion in capital, says this analyst, who fears the shortfall will only get worse
The new year is nearly upon us, and one idea for where to invest is the banking sector, whose margins benefit from the high interest rates, at not terribly demanding valuations. That claim may surpris...