A holiday-shortened week is looking like it will get off to a lower start, as China landed some weak growth numbers and more earnings roll out. That’s after two positive weeks to start 2023. But there...
Tag: Credit
Alameda Reported to Had 65BN USD Worth Line of Credit from FTX Customers’ Funds
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‘It feels like way too much to lose.’ We had $550K invested and told our adviser we wanted a ‘conservative approach.’ Since then we’ve lost $88K. I know the market is bad, but should we fire him?
Question: Two years ago my husband took an early retirement when offered by his company. At that time we had a 401(k) with about $550,000 that we gave to a big financial services firm rep to handle. ...
What JPMorgan and Other Banking Giants Are Saying About a Possible Recession
America’s banking giants are looking into their economic crystal balls, and not all of them like what they see. JPMorgan , Bank of America , and other top U.S. banks recently offered economic outlooks...
Brazil’s Bradesco Tokenizes First Batch of Bank Credit Notes
10 hours ago | 2 mins read Blockchain News The bank has tokenized the first batch of bank credit notes, worth about $2 million. The operation was carried out in collaboration with Bolsa OTC. As one of...
Netflix, Goldman Sachs, United Airlines, Morgan Stanley, and More Stocks to Watch This Week
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Bradesco, One of Brazil’s Largest Banks, Launches Tokenized Credit Notes in Blockchain Pilot – Finance Bitcoin News
Bradesco, one of the largest banks in Brazil and the third biggest in all of Latam, has entered the cryptocurrency world by issuing its first tokenized credit notes. The operation, carried out in part...
Netflix, Goldman Sachs, United Airlines, Morgan Stanley, and More Stocks for Investors to Watch This Week
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China’s Junk Bonds Are Suddenly the World’s Hottest Credit Trade
(Bloomberg) — Editor’s Note: Welcome to Credit Weekly, where Bloomberg’s global team of reporters will catch you up on the hottest stories of the past week while also offering you a peek into wh...
Credit Suisse Set to Cut 10% of European Investment Bankers: FT
(Bloomberg) — Most Read from Bloomberg Credit Suisse is planning to cut more than 10% of its European investment bankers this year, adding to hundreds of job losses in London and Zurich, the Fin...
Former FTX US head denies participation in fraud involving the company
Brett Harrison, former head of the U.S. arm of FTX, distanced himself from the crypto exchange co-founded by Sam Bankman-Fried, which filed for bankruptcy back in November. Harrison, who resigned as F...
$65B Secret Line of Credit: Alameda with FTX
SBF ordered Gary Wang to code a secret line of credit for Alameda Research. This created a backdoor, allowing Alameda to borrow customers’ funds without permission. Without their consent, Alameda too...
Alameda Research had a $65B secret line of credit with FTX: Report
Former FTX CEO Sam Bankman-Fried (SBF) reportedly ordered Gary Wang, co-founder of the crypto exchange, to open a $65 billion “secret backdoor line of credit” for Alameda Research, accordi...
Bank of America’s Subramanian says S&P 500 earnings risk a 10% drop in 2023
“ ‘We are likely to see some downward revisions [to earnings] and our forecast for profits growth for 2023 is $200 for the S&P 500. That would mean about a 10% decline in earnings peak to trough.’...
JPMorgan, Wells Fargo, Bank of America and Citi beat earnings expectations, but worries about headwinds remain
JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. managed to beat Wall Street’s reduced expectations for their fourth-quarter profits as higher interest rates b...
Bitcoin spikes above $21,000: is the crypto bear market over ?
Bitcoin, the largest cryptocurrency by market capitalization, spiked above the $21,000 mark on Saturday. The move has encouraged crypto investors who have been shaken by the collapse of several high-p...
As U.S. dollar stumbles, Japanese yen is ‘hottest story in town’. Here’s why.
It’s the comeback currency. The Japanese yen, among the world’s worst-performing major currencies in 2022, roared back to a seven-month high versus a now-reeling U.S. dollar on Friday, as traders bet ...
JPMorgan Chase, Bank of America and Wells Fargo earnings show the good, the bad and the ugly of people’s finances. So how are they holding up?
Friday’s wave of big-bank earnings gives an important glimpse into Americans’ finances amid high prices, rising interest rates and recession worries. At first glance, most consumers appear to be keepi...
Citigroup’s fourth-quarter profit declines by 21% as bank sets aside more money for credit losses
Citigroup said it had identified the cause of the flash crash and corrected the error “within minutes.” Jim Dyson | Getty Images News | Getty Images Citigroup said fourth-quarter net incom...
JPMorgan Reports Earnings Friday. Here’s What to Expect.
JPMorgan Chase will be one of the first big banks to report fourth-quarter 2022 financial results on Friday, and Wall Street expects a mixed bag. Revenue at the bank is forecast to swell to $34.5 bill...
Citigroup Reports Earnings Friday. Here’s What Wall Street Expects.
Citigroup is in the midst of a yearslong turnaround. On Friday, Wall Street will see how successful the bank’s efforts have been. Like most of its peers, Citigroup (ticker: C) is expected to post a dr...
Bank of America Posts Earnings Friday. What Wall Street Expects.
Higher interest rates are expected to drive up Bank of America ‘s fourth-quarter revenue, even as the bank is projected to see a drop in profits. Bank of America (ticker: BAC) is forecast to post reve...
IRS says ‘Tax Day’ will be different this year — put these important tax dates on your calendar
It’s not too early to start thinking about your 2022 income-tax return, if you can bear the thought. That’s because the tax-filing season is scheduled to start on Monday, Jan. 23, the Internal Revenue...
JPMorgan says it was duped by founder who made up 4 million customers
JPMorgan Chase has alleged in a lawsuit that it was duped by a start-up founder who made up 4 million customers for an app designed to help students through the college financial aid process. In a law...
Home prices to tumble over 25% from peak levels in ‘overheated’ markets, says Goldman
Credit researchers at Goldman Sachs now expect home prices in several “overheated” metro areas to fall over 25% from peak levels. Metro areas included in their forecast were San Jose, Austin, Phoenix ...
Fed’s Powell won’t stop rate hikes until he ‘terrifies’ the wealthiest of investors, says this CIO
Investors are waking up to a whiff of positivity where stocks are concerned for Monday, after last week’s first gain in five that was prompted by weak wage growth Alongside a bleak Institute for Suppl...
‘Our kids say our small house is embarrassing’: My husband and I earn $160K, have $1 million in retirement savings, cook at home and drive an old Honda. Are we missing out?
I’m a pretty fortunate person who lives a pretty fortunate life, and our annual household income at $160,000 is high compared to the rest of the world. However, we are still pretty frugal — we cook at...