By Chris Taylor NEW YORK (Reuters) – The feeling of driving a new car off the lot is hard to beat. What comes next is not so nice: the first monthly payment. That bill packs an extra punch these days. New car buyers with a monthly payment over $1,000 rose to an all-time high of …
Four ways for car buyers to survive the interest-rate crunch Read More »
Sydney (Reuters) – Credit Suisse said on Thursday it has hired private banker Kwong Kin Mun as its new vice chairman for Southeast Asia wealth management. The embattled bank is being bought by rival UBS Group for 3 billion Swiss francs ($3.27 billion) in a deal engineered by Swiss authorities to avoid more market-shaking turmoil …
Credit Suisse hires Southeast Asia wealth vice chairman Read More »
By David Lawder and Douglas Gillison WASHINGTON (Reuters) -The brewing U.S. banking crisis seems far removed from the northeastern Vermont town of St. Johnsbury, but local Passumpsic Bank executive Daniel Kimbell grew concerned when he heard U.S. Treasury Secretary Janet Yellen’s congressional testimony last week. Yellen told a U.S. Senate hearing on March 16 that …
Yellen promise on community bank deposits sparks relief in small-town America Read More »
By Medha Singh (Reuters) -Meme stock GameStop Corp surged nearly 41% on Wednesday as the video game retailer’s first profitable quarter in two years squeezed bearish investors and sparked off a rally in other stocks popular among retail traders. GameStop, AMC Entertainment Holdings Inc and several other names were at the heart of a meme-stock …
GameStop’s surprise profit triggers short squeeze, meme stocks rally Read More »
By John Revill ZURICH (Reuters) – The fall of Credit Suisse has dealt a serious blow to Switzerland’s credentials as the world’s leading wealth management centre, experts warn, calling into question its reputation for stability, regulation and corporate governance. Battered by years of scandals and losses, Credit Suisse had been fighting a crisis of confidence …
Analysis-Credit Suisse collapse threatens Switzerland’s wealth management crown Read More »
By Lisa Pauline Mattackal and Medha Singh (Reuters) – As crisis stalks the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven. The infamously volatile cryptocurrency seems positively hale and hearty, just as a banking meltdown drives markets into the arms of a recession. Bitcoin has risen 21% this …
Cryptoverse: Bitcoin passes the bank stress test Read More »
By Andrea Shalal WASHINGTON (Reuters) -The U.S. Treasury is continuing to monitor the health of mid-sized and regional banks and is considering what steps can be taken to further strengthen the country’s financial stability, Deputy Treasury Secretary Wally Adeyemo said on Tuesday. Adeyemo said “decisive action” taken by the Treasury, Federal Reserve and the Federal …
US Treasury looks to strengthen financial stability; big focus on smaller banks Read More »
(Reuters) – BlackRock Investment Institute said on Monday it was downgrading credit and preferred short-term bonds for income, with strategists pointing to financial cracks from rapid interest rate hikes. “We stay risk-off: underweight developed market (DM) stocks and trim credit to neutral. But we are ready to seize opportunities as macro damage gets priced in. …
BlackRock Investment Institute downgrades credit, favors short-term bonds for income Read More »
NEW YORK (Reuters) – A former top executive at proxy solicitor Kingsdale Advisors on Monday said he launched a new firm amid growing demand for advice on engaging with shareholders as corporate agitators push for more changes at companies. Michael Fein, who headed Canadian firm Kingsdale’s U.S. operations as president, U.S., until the start of …
Former Kingsdale executive Fein launches new proxy solicitation firm Read More »
By Chris Taylor NEW YORK (Reuters) – There are a lot of guilty pleasures out there, but here is one common to plenty of movers and shakers on Wall Street: Watching “Succession.” The fourth season of the popular HBO series premieres on March 26, tracking the dysfunctional Roy family as they continue to gobble up …
Succession 101: Money lessons from TV’s dysfunctional empire Read More »
