Ecb S Lagarde Insists Banks Much Stronger Than in 2008 after Raising Interest Rates Despite Credit Suisse Turmoil – Business Live
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UBS makes Ermotti best-paid European bank boss
Swiss lender awards returning chief executive $15.9mn for steering integration of Credit SuisseFinancial Times - Business -
Bank of England Holds Interest Rates After U.K. Inflation Slows
Britain’s central bank held its key interest rate at the highest level in 16 years for the fifth straight meeting.The New York Times - Business - United Kingdom -
UBS CEO Ermotti to Steer Credit Suisse Integration
UBS said said Sergio Ermotti is set to stay as chief executive officer to see through the integration of Credit Suisse, and sought to address concerns about its size and potential needs for tighter regulation.The Wall Street Journal - World -
S&P Global Cuts Paramount Credit Rating Into Junk Territory
The ratings company cut Paramount Global to BB-plus from BBB-minus, citing continuing cord cutting and elevated investments required to support the buildout of streaming services.The Wall Street Journal - World -
Bank of England policymaker says markets pricing in too many rate cuts; Co-op Bank to cut 400 jobs – business live
Catherine Mann says market pricing is helping the central bank do its work in bringing borrowing rates down. The pound has risen since her comments, up 0.2% to $1.2661.. Bank of England policymaker Catherine Mann said financial markets are pricing ...The Guardian - World -
Janet Yellen warns China against clean energy dumping
US Treasury secretary tells Beijing its trade practices will distort markets and harm workersFinancial Times - Business - China -
Top Fed official says ‘no rush’ on rates after ‘disappointing’ data
Progress on taming price rises ‘has slowed and may have stalled’, according to Christopher WallerFinancial Times - Business - Federal Reserve -
$75,000 for a baby? South Korean businesses float incentives as demographic crisis looms
Companies and politicians try new strategies to encourage workers to start familiesFinancial Times - Business -
The WSJ Dollar Index Rises 0.1% to 98.95
The WSJ Dollar Index was up 0.1% to 98.95 — up nine of the past 12 trading days.The Wall Street Journal - World -
Lowe’s credit card now has a 31.99% interest rate. Customers call it ‘loan sharking.’
“These interest charges could be astronomical on a big purchase,” says one credit-card expert.MarketWatch - Business -
Newest ECB board member says it can cut rates ‘swiftly’ despite rising wages
Piero Cipollone’s comments indicate he may argue for loosening monetary policy at bank’s April meetingFinancial Times - World -
UBS CEO Ermotti to Steer Credit Suisse Integration
UBS said said Sergio Ermotti is set to stay as chief executive officer to see through the integration of Credit Suisse, and sought to address concerns about its size and potential needs for tighter regulation.The Wall Street Journal - Business -
Nigeria's central bank hikes interest rate to 24.75% as it battles sky-high inflation, currency crisis
The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa's largest economy looks to recover from a historic currency crisis and soaring inflation.CNBC - Business -
Three Fed interest-rate cuts this year? Yes, top banking economists say.
Top economists at big U.S. banks predict the Federal Reserve will cut interest rates three times this year — with the first reduction in June — even though inflation is unlikely to slow much further in 2024.MarketWatch - Business - Federal Reserve -
China’s property turmoil hits midsized bank Everbright
Regional lender’s shares fall after profits miss estimates due to investment losses and increase in cash set aside for bad debtsFinancial Times - World - China -
A U.K. court upheld the conviction of Tom Hayes, the alleged ringleader of a conspiracy among big banks and brokers to rig interest rates during the global financial crisis.
A U.K. court upheld the conviction of Tom Hayes, the alleged ringleader of a conspiracy among big banks and brokers to rig interest rates during the global financial crisis.The Wall Street Journal - World -
Chinese ‘state-affiliated’ organisations behind cyber-attacks on MPs and Electoral Commission, Dowden says – UK politics live
Deputy PM says international partners, including the US, will also be making statements today about similar Chinese cyber-attacks . Andrew Bowie, the energy minister, said the government should have revived investment in nuclear energy “years ago” ...The Guardian - World - United Kingdom -
GDP in fourth-quarter raised to 3.4% due to stronger consumer spending
The final reading of U.S. growth in the 2023 fourth quarter was raised to a 3.4% annual pace, reflecting a surprisingly resilient U.S. economy.MarketWatch - Business -
UBS said Sergio Ermotti would stay on as chief executive officer to see through the integration of Credit Suisse.
UBS said Sergio Ermotti would stay on as chief executive officer to see through the integration of Credit Suisse.The Wall Street Journal - World -
Momentum stocks are outperforming S&P 500 by widest margin since 2008. Investors should be concerned.
Momentum stocks are coming off their best stretch of outperformance in years — since just before the financial crisis, in fact. That’s making some investors nervous.MarketWatch - Business -
An interesting disconnect in US rate-cut expectations
Economists and the Fed think similar things on what will happen to the US economy. So why is there a big gap in their expectations for interest rates?Financial Times - World -
Bankers jailed for interest rate rigging lose appeal
Tom Hayes and Carlo Palombo, convicted for manipulating a key interest rate, have had their appeals dismissed.BBC News - Top stories -
Mortgage demand stalls, even as interest rates moderate
The usually busy spring housing market is underway, but mortgage demand isn't moving.CNBC - Business - Mortgage -
How do interest rates affect me?
Bank of England interest rates have an impact on the mortgage, loan and savings rates for millions of people.BBC News - Top stories -
BoE rate-setter warns against rushing to cut interest rates
Comments come after governor Andrew Bailey last week said interest rate cuts were ‘in play’Financial Times - World -
Fed Rate Outlook Looks Just Right for Banks
Banks look forward to relief on deposit costs but have no desire to go back to zero rates.The Wall Street Journal - World - Federal Reserve -
Here’s how much money Americans in their 30s have in their 401(k)s
Americans in their 30s are around halfway to retirement age, but many don't have much saved in their 401(k)s.CNBC - Business -
How much money Americans in their 50s have in their 401(k)s
Retirement is in view for Americans in their 50s. However, many have less saved than they may want. A retirement expert's tips to get on track.CNBC - Business -
Lands’ End’s stock rallies as retailer posts stronger-than-expected sales
Shares of Lands’ End surpassed the $10 mark for the first time since August 2023.MarketWatch - Business -
Canada GDP Grows Stronger-Than-Expected 0.6% in January
Canada’s economy made a solid start to the new year with growth in the first two months tracking well ahead of the BOC’s forecast, reinforcing expectations the central bank will once again stick to the sidelines at its coming policy meeting.The Wall Street Journal - World -
Latin American immigrants are starting businesses at more than twice the rate of the U.S. population as a whole, an analysis of Census Bureau data shows.
Latin American immigrants are starting businesses at more than twice the rate of the U.S. population as a whole, an analysis of Census Bureau data shows.The Wall Street Journal - World -
Sculpture Doesn’t Get Much Smaller Than This
Lyndon J. Barrois Sr., whose day job is high-tech animation, uses gum wrappers to create detailed portraits of historical figures and athletes in flight.The New York Times - Lifestyle -
Biden, Fighting for Credit and Raising Cash, Gets Help From Clinton and Obama
A fund-raiser on Thursday intends to raise $25 million to help re-elect the president, who has amassed a roster of achievements, but whose approval ratings are the lowest of the three.The New York Times - Top stories - Joe Biden -
Here's how much credit card debt Americans have by age—and which generation owes the most
Collectively, Americans owe over $1 trillion on their credit cards. However, when you break down the numbers by age, one generation owes far more than the rest.CNBC - Business -
Visa, Mastercard and the largest U.S. credit-card issuing banks agreed to a settlement with merchants over the fees charged for swiping credit cards.
Visa, Mastercard and the largest U.S. credit-card issuing banks agreed to a settlement with merchants over the fees charged for swiping credit cards.The Wall Street Journal - World -
Cook says Fed has to move carefully before cutting interest rates
Federal Reserve Gov. Lisa Cook on Monday said the central bank needs to take a “careful approach” in deciding when to cut interest rates, but she gave few clues on the timing or size of any reductions.MarketWatch - Business - Federal Reserve -
4 times you should buy a home with interest rates high
Even with mortgage interest rates high, there are some times when it may make sense to buy. Here are four of them.CBS News - Top stories -
‘Lagging’ housing market, high interest rates drag on MillerKnoll’s sales
The furniture maker said that a “lagging” housing market, rising interest rates, and other headwinds contributed to lower sales.MarketWatch - Business -
Fed’s Waller says there’s ‘no rush’ to cut U.S. interest rates
Federal Reserve Gov. Chris Waller said high inflation readings and strong job gains in early 2024 reinforce his view that “there is no rush” to cut U.S. interest rates.MarketWatch - Business -
Global inflation and interest rates tracker: see how your country compares
Inflationary pressures are beginning to wane but not all central banks have taken action yet. See how this affects youFinancial Times - World