Top

Capital and risk, Macroeconomic

US should watch its debt pile before ‘things get out of hand,’ Fed’s Mester says

May 14, 2018

Via: CNBC

The U.S. should keep its debt-to-GDP (gross domestic product) in mind before things “get out of hand,” Federal Reserve Bank of Cleveland President Loretta Mester said Monday. Asked by CNBC’s Joumanna Bercetche if she was worried about the outlook for […]


Business banking, Products, Regulations

Why Tax Reform Changes Nothing — and Everything

May 14, 2018

Via: Strategy Business

Companies in the U.S. were already sitting on piles of cash before tax reform passed in December 2017. Now, with a strengthening global economy and a tax overhaul that lowers the corporate tax rate from 35 to 21 percent and […]


Channels

Huawei adds a bitcoin wallet to its app store even as China cracks down on trading

May 11, 2018

Via: CNBC

Huawei has released a bitcoin wallet on its app store for the first time, allowing Chinese consumers to hold virtual currencies even as Beijing steps up regulation on the nascent industry. The Shenzhen-based Chinese smartphone maker has teamed up with […]


Products, Retail banking

Apple and Goldman Sachs to unveil new credit card

May 11, 2018

Via: Banking Technology

The WSJ cited people with knowledge of the process, and says the move comes as Goldman continues to make a push into consumer banking activities such as deposit-taking and personal loans. In a major blow to Barclays, the WSJ says […]


Capital and risk, Operational

Cryptocurrencies as a payment system are ‘troubling,” Bank of America tech officer says

May 10, 2018

Via: CNBC

Cryptocurrencies are standing in the way of authorities catching “bad guys” who are using payment systems for nefarious purposes, a Bank of America official said Thursday. Addressing a key criticism of bitcoin and its growing list of competitors, Cathy Bessant, […]


Business banking, Products

Robinhood overthrows E-trade in user numbers, announces $5.6 billion valuation

May 10, 2018

Via: CNBC

Stock trading app Robinhood has beat its rival E-trade when it comes to users, doubling the number of accounts in the past year. The start-up now has 4 million brokerage accounts on its platform. On Thursday it announced a $363 […]


Activity, Insurance

Why Property & Casualty Insurance Should Not Be Optional

May 9, 2018

Via: TheStreet

The U.S. property & casualty insurance industry pays out more than $400 billion in policy benefits, according to the American Insurance Association. The industry also employs about 2.3 million people, making property & casualty (or “P&C,” as insurance insiders call […]


Capital and risk, Macroeconomic

Hot US jobs market spurs push to reach those left behind

May 9, 2018

Via: CNBC

In Cleveland, a new road meant to cut commute times between the suburbs and a downtown medical hub has been redesigned as an “Opportunity Corridor” to bring businesses and jobs to poor neighborhoods along its way. In St. Louis, development […]


Capital and risk, Macroeconomic

Fed’s Powell: Rate hikes should not upend the global economy

May 8, 2018

Via: CNBC

Moves by the Fed and other major central banks to raise interest rates after a long period of keeping them low should not be disruptive to the global economy, Federal Reserve Chairman Jerome Powell said Tuesday. In remarks prepared for […]


Capital and risk, Macroeconomic

Recession won’t come until at least 2021, Bank of America predicts

May 8, 2018

Via: CNBC

Bank of America’s investment arm has offered some soothing words to investors fretting about an imminent meltdown in global equities and a resulting slowdown. The investment community have been busy watching the recent trend in bond yields this year, with […]