News

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

China's plan to boost consumption by encouraging trade-ins has yet to show results

Several major cities and provinces have only in the last few weeks announced details on how the trade-in program would work for residents.

Stocks making the biggest moves after hours: Adobe, RH, Oracle and more

These are the stocks posting the largest moves in extended trading.

Here's the deflation breakdown for August 2024 — in one chart

Consumer prices are falling in pockets of the U.S. economy, in categories like cars, household furniture and certain groceries.

Ajit Jain, Buffett's insurance leader for nearly 40 years, dumps more than half of Berkshire stake

The 73-year-old vice chairman of insurance operations sold 200 Berkshire Class A shares on Monday for roughly $139 million. 
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