The former Treasury official and University of Michigan administrator’s confirmation gives the Federal Reserve Board a full complement of seven governors for the first time in nearly a decade. Michael Barr, a former Treasury official and university administrator, has been confirmed as the next vice chair for supervision for the Federal Reserve. The Senate confirmed
The “social” part of environmental, social, and governance evaluations poses the most downside risk to governmental and not-for-profit issuers in the Midwest and Central regions, S&P Global Ratings said in an ESG report published Tuesday. Analysts put an “elevated” risk label on its social scorecard, and “neutral” labels on environmental and governance factors in a
Municipals were little changed in secondary trading, as eyes turned toward the primary market’s large revenue deals from the New York State Thruway Authority and the Colorado Health Facilities Authority. The 2/10 U.S. Treasury curve significantly inverted after the June consumer price index report came in hotter than expected at 9.1%, further stoking recession fears
Federal Reserve Bank of Atlanta President Raphael Bostic said “everything is in play” for policy action after data showed that U.S. inflation accelerated again to a fresh four-decade high last month. “The top-line number is a source of concern,” Bostic told reporters Wednesday in St. Petersburg, Florida. “Everything is in play.” Asked if that included
You can enable subtitles (captions) in the video player This is a story of finance gone wrong. The Credit Suisse story is the story of one of Switzerland’s most important institutions, one of the most important banking institutions in Europe. The bank which ignored risks, ignored red flags. We are in a very challenging situation.
When tech giant PayPal acquired Honey, a browser extension that aggregates and applies online coupons, for $4 billion in 2019, the sale made co-founders George Raun and Ryan Hudson worth a combined $1.5 billion. And what to do with that kind of money? A lot, apparently. Raun first purchased this Bel-Air home in 2020 for
British manufacturers have warned that a proposal to lift anti-dumping measures on a type of Chinese steel risks a flood of cheap imports and threatens hundreds of jobs in the sector. The Trade Remedies Authority, an arms-length body set up last year to make recommendations to ministers, has advised revoking existing duties on Chinese high-fatigue
Miami is fast becoming one of the major hubs in the crypto world with more and more blockchain companies moving to the city each year. Miami famously plays host to the Bitcoin Conference each year, and digital assets have been embraced by the mayor and the wider population. Here’s your ultimate guide to the crypto
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. According to the National Association of Realtors, sales of existing homes dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units. Sales were 8.6% lower than in May 2021. As existing-home sales declined, the median price
Source: Getty Images June’s headline consumer price index is expected to have been even hotter than May’s report, but consumer inflation may have finally peaked given the decline in oil and gasoline prices in July. Headline CPI is expected to rise by 1.1%, compared with 1% in May, according to Dow Jones. On a year-over-year
David Ryder | Getty Images After staggering growth during the pandemic, the U.S. housing Boismarket is starting to cool — and it’s happening fastest along the West Coast. The quickest-cooling real estate market is San Jose, California, according to a new Redfin analysis, which ranked U.S. metropolitan markets based on median sales prices, year-over-year inventory
Britain’s leading role in providing weapons to Ukraine in its fight against Russia’s invasion will endure, whoever replaces Boris Johnson as prime minister, the country’s ambassador to Nato has said, amid concerns in Kyiv that a successor could fail to match his focus on the war. Johnson’s enthusiastic support for Ukraine was one of the
A real estate agent stands in the doorway as Giovani and Nicole Quiroz of Brooklyn, New York visit an open house in West Hempstead, New York. Raychel Brightman | Newsday LLC | Newsday | Getty Images After dropping to record lows in 2020 and 2021, mortgage rates are back up. Way up. While the past
EU-UK relations have become so gridlocked that the ministerial body that governs Britain’s trade deal with Brussels has not met for over 13 months, the Financial Times has learned. The stasis has frustrated companies battling post-Brexit bureaucracy on both sides of the English Channel, with business groups calling on London and Brussels not to leave
Massachusetts plans to bring $2.7 billion of taxable business-tax backed special obligation revenue bonds with a social designation, marking the largest environmental, social and governance deal to date in the municipal market. The deal is also one of the larger taxable deals in 2022 in a year that has seen a significant drop in taxable
Two former health secretaries, Sajid Javid and Jeremy Hunt, on Sunday announced bids to stand as Conservative party leader with pledges to slash taxes in an effort to win support from MPs. A total of nine candidates have now announced they will stand to replace Boris Johnson as UK prime minister, with more expected to
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Rene Reinsberg, a co-founder of Celo, an open platform that makes financial tools accessible to anyone with a mobile
In this article NTRS SNX MU GOOGL Sanjay Mehrotra, CEO, Micron Technology Scott Mlyn | CNBC Volatility in the stock market appears to be far from over. Market churn is still very high amid hot inflation and a worrisome economic outlook. Although the near-term perspective may be blurry, investors may scoop up healthy returns in
In this article TSLA XPO WDFC COCO UPST The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 3, 2022. Brendan Mcdermid | Reuters Check out the companies making headlines in midday trading. Upstart — The consumer
Villa Ada, situated above Lake Maggiore, was built in 1866 by the Trubetskoy family. The family descends from Dmitry of Bryansk, who was the son of Algirdas, ruler of medieval Lithuania. Pyotr Trubetskoy, a Russian diplomat, moved to Italy in 1865 on a diplomatic mission. There he met Ada Winans, an American lyric singer. The