It’s the peak stretch of second-quarter earnings season, with roughly 150 S&P 500 firms scheduled to report this week. The highlights on the economic calendar will be a pair of purchasing managers...
Tag: Banking
I want to refinance my mortgage, but I’m about to turn 70. Is it wise to refinance at my time of life?
I hope you can help me figure this out. I am 69 years old and will turn 70 at the end of the month. I’ve been offered a cash out refinance loan and need to decide whether to take a 15- or 30-year loan...
China Home Sales Plunge in July, as Mortgage Revolt Deters Buyers
A nascent two-month recovery in China’s home sales ended in July, as a widespread mortgage revolt over concerns that ailing property developers wouldn’t be able to deliver still-unfinished apartments ...
Housing affordability plunges to lowest level since 2006. The property market’s ‘great slowdown’ is here, Bank of America says
A “great slowdown” is happening in the U.S. housing market, a new report from Bank of America says, as mortgage originations shrink and spending on household items softens. Amid weak home sales number...
U.S. Banking Regulators Order Voyager to Remove Misleading Insurance Statements – crypto.news
Amid the troubles surrounding cryptocurrency lender Voyager Digital, United States banking regulatory bodies have ordered the company to correct misleading statements suggesting that customers’ funds ...
Is the crypto bear market over? Here’s what to watch.
Bitcoin and ether are on track to record their best month since last October, prompting some investors to ask if the crypto bear market is over. The No.1 cryptocurrency BTCUSD, -0.90% on Friday reache...
‘Savings are gonna run out’: Already battered by high inflation, Fed’s rate hike will hit lower-income and rural Americans hard
The Federal Reserve hiked its benchmark rate by 0.75 percentage points on Wednesday in an effort to temper the rising costs of consumer goods and services. While economists say raising the interest r...
U.S. banking regulator instructs banks to curb confusing crypto claims on deposit insurance
The United States banking regulator, Federal Deposit Insurance Corporation (FDIC), has issued a new advisory to banks in a bid to curb customer confusion regarding cryptocurrencies. In the advisory pu...
What possible credit-card legislation could mean for Visa, Mastercard — and you
Credit-card companies look to be under a political microscope once again as senators announced a new bill that would target Visa Inc. and Mastercard Inc. Sen. Dick Durbin, an Illinois Democrat, and Se...
EU Banking Regulatory Fear About “Lack Of Crypto Specialists”
The European Banking Authority (EBA) reveals that they lack “Crypto Specialists.” The president of EBA Jose Manuel Campa raises his concern in his recent interview on July 27. As per the interview, Ca...
When will the Fed stop raising interest rates? The ‘terminal rate’ may still be far off
The U.S. economy is somewhere in the middle of the Federal Reserve’s interest rate hiking saga to tame inflation, but people already want to know where the story ends. That’s what’s getting discussed ...
U.S. Bank workers opened fake accounts to meet sales goals, feds say
NEW YORK — For more than a decade, U.S. Bank pressured its employees to open fake accounts in their customers’ names in order to meet unrealistic sales goals, the Consumer Financial Protection Bureau ...
15 quality dividend stocks that you can buy on sale right now
John Buckingham, editor of the Prudent Speculator newsletter, paraphrases Warren Buffett when he says “whether it is socks or stocks, we like to buy quality merchandise that is marked down.” And 2022 ...
European banking regulator sees ‘major concern’ in retaining staff to handle crypto: Report
The chair of the European Banking Authority, or EBA, a European Union agency that regulates banking activities, has reportedly expressed concern that a dearth of talent experienced in the crypto space...
The Fed will cut rates next year, says BofA. Here’s what will happen to Treasurys.
All eyes will be on the Federal Reserve on Wednesday. The central bank is widely expected to continue the fast pace of monetary tightening with another 75 basis-point hike in borrowing costs. But even...
PayPal Is Being Targeted by Activist Elliott. Here’s Why.
Text size PayPal shares have slid this year as people have returned to their prepandemic spending habits. Courtesy of PayPal Payments giant PayPal finally has attracted an activist. PayPal (ticker: PY...
Visa tops earnings expectations as CFO sees ‘no evidence of a pullback’ in spending
Visa Inc. topped expectations with its latest results Tuesday and gave an upbeat signal to investors about the resilience of spending volumes in the current macroeconomic climate. Amid increasing unea...
‘We get hundreds of thousands of dollars in royalties’: My late father left his investments to me and my sister, but gave me more than 50%. My sister wants half. What should I do?
Dear Quentin, My sister is two years older than me. We both are married and have incomes in the low six figures, and our husbands have similar earnings. When she was in her 20s, my sister and her husb...
Japan: banking giant SMBC will develop NFT projects
Japan’s banking giant Sumitomo Mitsui Financial Group (SMBC Group) said it will partner with blockchain startup HashPort to develop NFTs and Web3 projects. Japan in Web3 and NFTs with SMBC Group In Ja...
Do not leave any paper trail: how a group of sovereign citizens used a phony credit repair business to amass a real estate empire
Bad credit? No problem. A group of alleged scam artists have been charged with running a fraudulent credit repair business and then using their clients’ identities to get mortgages on millions of doll...
Celsius customers write pleas to bankruptcy court to get crypto back: ‘This is an emergency situation, simply to keep a roof over my family and food on their table.’
Some customers of crypto lender Celsius Network, which filed for bankruptcy earlier this month, have written to the Bankruptcy Court for the Southern District of New York, with a hope of getting their...
$2,200,000,000,000 Banking Giant Citi Says Crypto Contagion Has Likely Passed: Report
An analyst from banking titan Citigroup is reportedly saying that the crypto contagion that has impacted the industry over the last several months is likely over. In a recent note to clients as cited ...
Opinion: Fidelity’s bitcoin move getting all the wrong publicity
What would Ned Johnson do? The late, great Fidelity Investments honcho built his family’s Boston-based money management firm into one of the biggest in the world over the course of a long career. John...