Desperate times call for desperate measures, and times are, arguably, increasingly desperate. The persistence of high inflation might force the Federal Reserve to resort to the biggest increase in a k...
Tag: Banking
Any doubt Fed will raise rates by 75 basis points next week is gone after hot U.S. inflation data
Any doubt that the Federal Reserve will raise its its benchmark interest rate by 0.75 percentage point next week is gone, economists said, following the hot U.S. consumer price inflation data for Augu...
Gen Z trusts this man more than Warren Buffett for financial advice — and he says this is the single best habit to adopt if you want to save money
Humphrey Yang Uncredited When asked which social media financial influencers they follow and trust, more Baby Boomers and Gen Xers chose Warren Buffett than anyone else. But for Gen Z, he only came in...
Thailand banking giants join in $5M funding for Forward DeFi company
Join Our Telegram channel to stay up to date on breaking news coverage The venture capital divisions of the leading banking giants in Thailand have invested in a decentralized finance platform known a...
Most investors think the next big move for the S&P 500 will involve a near 20% drop, says Deutsche Bank survey
Last week’s first gain in four for stocks has likely emboldened some bulls out there, but investor wariness remains, according to a new survey from Deutsche Bank. Observe the chart below that shows ho...
Another sign of a looming recession? Americans’ ‘financial health’ fell for the first time in five years
Are you late paying for your utilities? Do you have enough set aside for a rainy day? Less than one-third (31%) of Americans are “financially healthy” in 2022, down 3% from a year ago, according to th...
When can I apply for student loan cancellation? How much will I get? Here are answers to some of the big questions.
President Biden’s highly anticipated federal student loan cancellation announcement last month created as many questions as it answered, prompting at least one major loan servicer’s website to crash a...
Thai banking giants back DeFi startup Forward in $5 million seed round
The venture capital arms of some of Thailand’s biggest banks have backed DeFi platform Forward in a $5 million seed funding round. According to a news release, venture capital firms associated ...
These three potential ‘naked swimmers’ threaten stocks and financial markets
Following a hat trick for all three major indexes last week, both optimism and trepidation are in the air as a new trading stretch begins. But some, like the Kobeissi Letter’s editor in chief and foun...
He’s won 18 Grammys and is worth an estimated $320 million, but Foo Fighters frontman Dave Grohl does this ‘smelly’ thing with his money (and psst: pros say you should too, with a twist)
It’s a simple way to save money, too. Getty Images/iStockphoto It’s times like these you learn to save again. That’s certainly what pros are telling Americans: Suze Orman, for example, recently upped ...
WazirX Claims ED Lifted Banking Restrictions After Probe
WazirX, one of the largest Indian crypto exchanges on Monday announced that they had received relief from the Enforcement Directorate (ED). After cooperating with the anti money laundering agency, cry...
Singapore Hits the Brakes on Crypto Ads at F1 Grand Prix
Crypto.com has paid millions to sponsor Formula One. When the event comes to Singapore later this month, that could mean a lot of empty space. The company has been part of a drive by cryptocurrency fi...
These are the 10 major housing markets that just saw the biggest declines in home equity
Plus, what to know if you’re thinking about taking out a HELOC. Getty Images/iStockphoto As home prices soared in recent years, homeowners enjoyed record levels of tappable home equity, which is the a...
Quantitative Tightening Is About to Ramp Up. What It Means for Markets.
The Federal Reserve now owns about a third of both the Treasury and mortgage-backed-securities markets as a result of its emergency asset-buying to prop up the U.S. economy during the Covid-19 pandemi...
Ethereum’s ‘Merge’ Is Disrupting Crypto Trading and Lending
Text size Ethereum’s “Merge” is a hotly anticipated and long-awaited upgrade. Dreamstime Crypto markets linked to Ether are facing disruption as the blockchain network behind the wor...
Can you avoid that 6% mortgage rate? Here’s what pros think will happen next with mortgage rates
What might mortgage rates look like this month? Getty Images This past week, average 30-year mortgage rates crossed the 6% mark — though many borrowers can still snag lower lower rates than that — aft...
Scions of Singapore Banking Family Announce Expansion Into Crypto
Members of the Singapore dynasty that founded the Oversea-Chinese Banking Corp plan on expanding their asset-management business into digital investments. The Whampoa Group intends to raise $50 millio...
Senators introduce the next retirement savings proposal – the EARN Act
The EARN Act is the latest addition to the lineup of proposals legislators have put forth to bolster retirement savings. Senators Ron Wyden, a Democrat from Oregon, and Mike Crapo, a Republican from ...
Why Guggenheim’s Scott Minerd Sees Stocks Falling Another 20% by Mid-October
Text size Scott Minerd says ‘we should see a really sharp adjustment in prices very fast.’ Patrick T. Fallon/AFP via Getty Images Guggenheim Securities Chief Investment Officer Scott Miner...
‘These are not laundromat tokens.’ SEC chief sends warning to crypto industry
Gary Gensler had strong words for the crypto industry in a Thursday speech, telling an audience of lawyers that the “vast majority” of the nearly 10,000 existing crypto tokens are securities, being is...
Professor of Economics warns ‘Europe is on the brink of another banking crisis’
One of the most consequential ripple effects of the war in Ukraine was the energy crisis that developed and that has had much of Europe in its grip since Russia invaded. The continent’s dependence on...
She called herself the Mother Teresa of Florida small-business lending, but investigators say she was really running a $194 million Ponzi scheme
Johanna Garcia claimed her merchant cash-advance business was so helpful to small businesses in Florida that she was like the Catholic saint Mother Teresa. But to the 15,400 investors who sank $194.1 ...
These five stocks in the S&P 500 lost almost half a trillion dollars in value in one day amid widespread wipeout
A decline in gasoline prices couldn’t mask the problem that spooked investors on Sept. 13: Core consumer prices resumed their rapid increase during August. Fear of the Federal Reserve’s ongoing tighte...