(Reuters) -Wells Fargo & Co has cut hundreds of jobs in its mortgage business across the country, Bloomberg News reported on Thursday citing people familiar with the bank’s plans. Higher inflation and rapidly rising mortgage rates have started to weigh on the housing market as buying homes becomes costlier, hitting what was until last year …
Wells Fargo cuts hundreds of jobs in mortgage business – Bloomberg News Read More »
By Howard Schneider and Ann Saphir (Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said it was time to slow the pace of coming interest rate hikes while also signaling a protracted economic adjustment to a world where borrowing costs will remain high, inflation comes down slowly and the United States remains chronically short …
Fed’s Powell: Rate hikes to slow, but adjustment just beginning Read More »
By Carolina Mandl NEW YORK (Reuters) – BlackRock Inc Chief Executive Larry Fink said on Wednesday that there appear to have been “misbehaviors” by the now-bankrupt FTX crypto exchange, but that the technology behind crypto is relevant for the future. “We’re going to have to wait to see how this all plays out (with FTX),” …
BlackRock’s Fink says crypto technology still relevant despite FTX Read More »
By Hannah Lang (Reuters) -A Democratic senator and chair of a key committee on Wednesday pressed U.S. Treasury Secretary Janet Yellen for help in securing legislation to better regulate cryptocurrency, the latest sign of pressure for tougher regulations following the collapse of crypto exchange FTX. Senator Sherrod Brown of Ohio also urged the Financial Stability …
Senate banking chief urges U.S. Treasury to secure new crypto rules Read More »
(Reuters) -U.S. hedge fund Engine Capital on Wednesday urged Univar Solutions Inc to consider a sale or other strategic options, days after Germany’s Brenntag SE said it was in preliminary talks to buy the chemicals distributor. Engine Capital, which owns about 1% of Univar, said in an open letter that the bid by Brenntag confirms …
Hedge fund Engine Capital urges Univar to consider sale, other options Read More »
(Reuters) -A warning from Crowdstrike Holdings Inc that clients were cutting back on spending and delaying purchases due to an economic slowdown slammed cybersecurity stocks on Wednesday, inflicting fresh pain on the battered sector. Crowdstrike’s shares sank nearly 19% in morning trading after the company forecast current-quarter revenue on Tuesday that fell short of analysts’ …
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By Chris Taylor NEW YORK (Reuters) – You might know P.J. Byrne from the movies, most likely as one of the fast-living brokers alongside Leonardo DiCaprio in “The Wolf of Wall Street.” But these days Byrne’s most important role is closer to home: that of son and caregiver. His 79-year-old father has suffered from dementia …
The Caregiver’s Lament: How to handle the costs of care Read More »
(Reuters) – Bitfront, a U.S. crypto exchange backed by Japanese social media firm Line Corp, said it has suspended new sign-ups and credit card payments and will cease operations in a few months despite efforts to overcome challenges in the rapidly evolving industry. “However, despite our efforts … we have regretfully determined that we need …
WASHINGTON (Reuters) – The U.S. Federal Housing Finance Agency (FHFA) said on Tuesday the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac in 2023 for one-unit properties will be $726,200 in most of the country. That represents an increase of $79,000 from $647,200 in 2022, FHFA said. …
FHFA raises 2023 conforming loan limits on Fannie Mae, Freddie Mac mortgages Read More »
(Reuters) – Collapsed cryptocurrency exchange FTX remains the subject of “an active and ongoing investigation” by Bahamian authorities, Bahamian Attorney General Ryan Pinder said on Sunday, as he praised the Bahamas’ regulatory regime and swiftness with which it responded to the crisis. FTX, which had been among the world’s largest cryptocurrency exchanges, is headquartered in …
FTX remains focus of ‘active’ investigation, Bahamas attorney general says Read More »
