News

JPMorgan creates new role overseeing junior bankers as Wall Street wrestles with workload concerns

The move shows how JPMorgan Chase, the biggest American investment bank by revenue, is responding to the latest untimely death on Wall Street.

Point72's Steve Cohen is stepping back from trading his own book

The prominent hedge fund investor, who also owns the New York Mets, will continue his role as the co-chief investment officer at Point72.

The Fed's biggest interest rate call in years happens Wednesday. Here's what to expect

While markets have made up their mind that the Fed is going to cut, there's a vigorous debate over how far policymakers will go.

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.
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