The second-largest bank failure in U.S. history might help the Federal Reserve do its job of tightening credit and slowing the economy. To be sure, the sudden collapse of the Silicon Valley Bank unit ...
Tag: financial services
Silicon Valley Bank collapse: What should you do if your bank closes down?
Silicon Valley Bank, which helps fund technology startups backed by venture-capital firms, has closed its doors. The California Department of Financial Protection and Innovation made the decision to c...
Bank Stocks Take a Beating. Why Charles Schwab Also Is Getting Slammed.
On Thursday, bank stocks got hammered, and so did shares of brokerage firm Charles Schwab, which dropped 13%. On Friday the pain continued, with Schwab suffering another 6% decline by midday. Wait, wh...
‘I don’t see another bank stepping in to help.’ Bill Ackman suggests government intervention to save Silicon Valley Bank parent.
“The failure of Silicon Valley Bank could destroy an important long-term driver of the economy as VC-backed companies rely on SVB for loans and holding their operating cash. If private capital can’t p...
I’ll be 60, have $95,000 in cash and no debts — I think I can retire, but financial seminars ‘say otherwise’
I will be 60 in September, have $95,000 in cash, work part time ($30,000 yearly) for insurance and contribute 10% plus the employer match of 8% to a small 401(k). My home and car are paid for, I don’t...
‘She made about $15K last year off my money.’ My financial adviser is making money off the $1 million I invested with her — even though I’m losing money. What’s my move?
We started with $1 million dollars, and I expected to see it grow quite a bit, but instead I’ve been losing money over the past few years. Getty Images/iStockphoto Question: I am a single mom with thr...
Banking Selloff Goes Global After SVB Trouble. HSBC, BNP Paribas, UBS Tumble.
The selloff in the banking sector spread across the globe on Friday after SVB Financial Group said it was forced to unload assets at a loss following a decline in deposits. HSBC (ticker: HSBA.UK), Eur...
Biden’s budget wants tax hikes, but expiring Trump tax cuts are the big showdown
For five years, most Americans have seen lower income-tax rates and tapped a bigger standard deduction, but without congressional action before the end of 2025, the rules could still revert to levels ...
10 banks that may face trouble in the wake of the SVB Financial Group debacle
As interest rates have risen, many banks have become more profitable because the spreads between what they earn on loans and investments and what they pay for funding has widened. But there are always...
Biden targets crypto, real estate and oil industries, as he unveils his budget
President Joe Biden on Thursday called for ending tax subsidies for cryptocurrency investors, the real estate industry and the oil and gas sector, as he formally rolled out his proposed budget for the...
Morgan Stanley, Charles Schwab, and the Recruiting Move That Went Off the Rails
Morgan Stanley lost a multimillion dollar arbitration case last week involving several parties and which centered on a recruiting move that went off the rails nearly four years ago. To understand how...
This fund has increased its dividend for 56 straight years. Now it’s snapping up GE.
Markets are nearing the end of a tough week, with one more hurdle to go after Fed Chairman Jerome Powell set investors straight on his willingness to go to the mat on inflation. Next up is Friday’s no...
Recently, I’ve been ‘over-employed,’ working two jobs to rake in $300K a year. Now I have enough saved to buy a business, but I need trustworthy advice. Where do I turn?
Having two full-time jobs doubled my annual income to $300,000 and allowed me to accumulate enough savings to purchase a few online businesses. Getty Images/iStockphoto Question: I’ve been a member of...
Medicare and HSAs don’t mix — what near-retirees need to know
Dear Ms. MoneyPeace, I am retiring this year and trying to understand Medicare. At this point I am covered fully by a company plan. I turned 65 last fall and plan to retire in August or September. Wh...
Credit Suisse Stock Is Falling. Annual Report Is Delayed After Call From SEC.
Credit Suisse shares were falling on Thursday after the Swiss lender said it is delaying the publication of its annual report. The stock was down 5.3% in Zurich trading. Credit Suisse (ticker: CS) Ame...
Credit Suisse to delay publication of 2022 annual report on SEC comments
Credit Suisse Group AG said Thursday that it will delay the publication of its 2022 report after a late call from U.S. market regulators over 2019 and 2020 cash-flow statements, adding a further heada...
Stock market could ‘take it hard’ as expectations grow for a 6% fed funds rate
U.S. stock investors are clearly not too happy with what Federal Reserve Chairman Jerome Powell has said in the past two days. And there’s reason to think they’ll get even more dissatisfied in the wee...
Fed may stutter-step at end of interest rate hiking cycle for first time since 1990
U.S. financial markets are taking a more cautious approach as they forecast future Federal Reserve interest-rate decisions after Chair Jerome Powell said policymakers will likely need to raise interes...
SoFi CEO Noto makes ‘opportunistic’ million-dollar stock purchase as SVB crisis fuels selloff
As SoFi Technologies Inc. shares fell Friday amid the fallout over Silicon Valley Bank’s collapse, the financial-technology company’s chief executive bought up stock. SoFi Chief Executive Anthony Noto...