By Chris Taylor NEW YORK (Reuters) – Patti Black remembers it like it was yesterday: The conversation no adult child ever wants to have. The financial planner from Birmingham, Alabama, was worried that her elderly father Mack was becoming a danger behind the wheel, thanks to his growing memory problems. So when she and her …
How to talk to your aging parents about safe driving Read More »
By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – Bank of America Corp’s digital personal finance tool, Life Plan, has attracted more than $55 billion in new money since its launch in late 2020, as customers use technology to set financial goals. Life Plan, which has more than 10 million users, enables customers to …
Bank of America’s financial planning app draws $55 billion over two-plus years Read More »
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Bullish bitcoin has been a surprise winner of the banking blowout. Yet investors aiming to amp up their bets face an ominous obstacle: a lack of liquidity that could trigger wild price swings. The price of the No.1 cryptocurrency has jumped 40% to around $27,700 since …
Cryptoverse: Buoyant bitcoin’s losing its liquidity Read More »
By Jamie McGeever ORLANDO, Florida (Reuters) -The most extraordinary outcome of the March banking shock would be if the problem dissipated quickly. Many people hope the crisis of confidence infecting global banking this month can be repelled almost as quickly as it appeared. After all, regulators and policymakers are faster and more comprehensive in their …
Don’t hold your breath – banking crises last years: McGeever Read More »
(Reuters) – Bank of America Corp is redeploying employees in wealth management and lending to other roles within the company, a source familiar with the matter said on Friday, as higher interest rates continue to weigh on the businesses. Less than 200 employees are being moved to product specialist positions within the company’s global operations …
Bank of America to redeploy wealth management, banking employees – source Read More »
LONDON (Reuters) – Financial markets have been thrown a fresh curve ball by the decision to write down 16 billion Swiss francs ($17.5 billion) of Credit Suisse bonds, known as Additional Tier 1 or AT1 debt, to zero as part of a forced rescue merger with UBS. Under the deal, holders of Credit Suisse AT1 …
Explainer-Why markets are in uproar over a risky bank bond known as AT1 Read More »
By Manya Saini (Reuters) – Shares of Twitter co-founder Jack Dorsey’s Block Inc fell 3% in afternoon trading on Friday, a day after the payments firm’s Cash App business became the latest target of U.S. short seller Hindenburg Research. In a report, Hindenburg alleged that Block overstated its user numbers and understated its customer acquisition …
Block shares extend losses as Hindenburg report weighs Read More »
LONDON (Reuters) – Short sellers have made a profit of over $100 million on paper betting against Deutsche Bank stock over the last two weeks, financial data company Ortex said on Friday. Ortex said short interest in Deutsche Bank’s European and U.S.-listed shares has doubled over that period to $360 million. Deutsche’s German shares were …
Short sellers make $100 million betting against Deutsche Bank in two weeks-Ortex Read More »
By Samuel Indyk LONDON (Reuters) -The Swiss franc hasn’t lived up to its safe-haven reputation during the Credit Suisse collapse, as investors have sought shelter elsewhere, bringing more of a boost to the value of the gold in Switzerland’s bullion vaults than to its currency. Money managers ditched the Swiss franc at the fastest rate …
Swiss franc grapples with safe-haven identity crisis after Credit Suisse Read More »
By Lewis Krauskopf NEW YORK (Reuters) – The end of the Federal Reserve’s bruising rate hiking cycle may be in sight, yet investors are finding plenty to worry about when it comes to the U.S. stock market. In its first meeting since the collapse of two U.S. banks this month and the downfall of ailing …
Analysis-Investors cautious on U.S. stocks, even though Fed hikes may soon end Read More »
