News

Apple is in talks with JPMorgan for bank to take over card from Goldman Sachs

While the talks are early and could falter, the move could mean that the country's largest credit card issuer may be about to grow even larger.

Lawmakers are 'demeaning their role' by trying to influence the Fed, House finance chair says

The chair of the House Financial Services Committee said it was an 'outrage' that some politicians are trying to direct the central bank's rate cuts.

Planning to delay retirement may not rescue you from poor savings

Many people retire earlier than expected due to unforeseen factors like a layoff or poor health.

Latinas contributed $1.3 trillion to U.S. economy, new report says. That number could be even bigger

A recent report funded by Bank of America revealed that Latinas contributed $1.3 trillion to U.S. GDP in 2021, and some economists think it could be more.

FDIC unveils rule forcing banks to keep fintech customer data in aftermath of Synapse debacle

The rule, aimed at accounts opened by fintech firms that partner with banks, makes the institution maintain records of who owns the account and daily balances.

This is the 'billion-dollar blind spot' of 401(k)-to-IRA rollovers, Vanguard finds

Many investors are unaware their rollover from a workplace retirement plan to an individual retirement account sits in cash as a default.

China's local government debt problems are a hidden drag on economic growth

China's persistent consumption slowdown traces back to the country's real estate slump, and its deep ties to local government finances — and debt.

China’s retail sales and industrial data miss expectations in August

Growth in the world's second-largest economy has slowed after a disappointing recovery from Covid-19.

Stocks often drop in September — but many investors shouldn’t care

September is historically the worst month for the stocks of large U.S. companies. But that doesn't mean investors should sell out of the market.

Hedge fund billionaire and Trump donor John Paulson says market would 'crash' under Harris tax plans

John Paulson, a prominent supporter of Trump, said there could be a collapse in the financial markets if Kamala Harris' proposed tax plans become a reality.

Harris' rise in polls sparks wave of wealth transfers to kids

Currently, individuals can send up to $13.61 million (and up to $27.22 million for couples) to beneficiaries without owing estate or gift taxes.

Federal Reserve will opt for slow policy easing as there's 'still work to do' on inflation, Fitch says

Fitch also gave some predictions on Asian central banks, such as the People's Bank of China and the Bank of Japan
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