Latest Financial services News
Coinbase targeted by SEC in latest shot at crypto firms for allegedly skirting securities laws
NEW YORK (AP) — Coinbase has been targeted by U.S. regulators in a new lawsuit Tuesday that alleges the cryptocurrency platform is operating as an unregistered securities platform and brokerage service. The lawsuit from the Securities and Exchange Commission comes only a day after...
World Bank offers dim outlook for the global economy in face of higher interest rates
WASHINGTON (AP) — The global economy is likely slowing sharply this year, hobbled by high interest rates, the repercussions of Russia's invasion of Ukraine and the lingering effects of the coronavirus pandemic. That's the latest outlook of the World Bank, a 189-country anti-poverty...
Millennial Money: Does ESG actually do any good?
ESG, or environmental, social and corporate governance criteria, has become a lightning rod for contention. The right says it’s woke hogwash, and the left says it can save the planet. But few can say what ESG has actually done. WHY CAN’T WE MEASURE IN POLAR BEARS? ...
Australian central bank boosts cash rate to 4.1% with 12th hike
CANBERRA, Australia: (AP) — Australia’s central bank on Tuesday lifted its benchmark interest rate for a 12th consecutive time, to 4.1%, and warned further rises could follow. The Reserve Bank of Australia boosted the cash rate by a quarter of a percentage point at its latest...
California insurance market rattled by withdrawal of major companies
LOS ANGELES (AP) — Two insurance industry giants have pulled back from California's home insurance marketplace, saying that increasing wildfire risk and soaring construction costs have prompted them to stop writing new policies in the nation's most populous state. State Farm...
Ohio Senate will nix House projects from budget, clears path for new $1 billion fund
COLUMBUS, Ohio (AP) — Ohio senators plan to remove earmarks for $1 billion in one-time spending from the state operating budget and place the money into a new fund for community projects to be doled out next spring, a high-level Ohio Senate source told The Associated Press. ...
Kimberly Palmer: Financial tips for new college grads
For new college graduates, receiving that first post-degree paycheck can be almost as exciting as getting the diploma itself. But it also presents a challenge: Given the many demands on a young person’s budget, how should those funds be managed? We asked five money experts to share...
Money stored in Venmo and other payment apps could be vulnerable, financial watchdog warns
NEW YORK (AP) — Customers of Venmo, PayPal and CashApp should not store their money with those apps for the long term because the funds might not be safe during a crisis, the Consumer Financial Protection Bureau warned Thursday. The alert comes several weeks after the failure of...
Stony Brook University gets $500 million from hedge fund founder who taught math there
NEW YORK (AP) — Stony Brook University, a part of the public State University of New York system, will receive $500 million from a philanthropic foundation started by a hedge fund billionaire who once taught math there, the foundation announced Thursday. The gift from the Simons...
Twitter may be worth one-third what Musk paid for it last fall as Fidelity fund marks down value
Twitter may now be worth one-third of what Elon Musk paid for the social media platform just seven months ago. The Fidelity Blue Chip Growth Fund has reduced the market value of its equity stake in Twitter for a third time, now putting it at $6.55 million. That's down from the nearly...
