New Jersey Democrats Approve Bill to Punish Towns Fighting Affordable Housing By Withholding State Grants and Financial Aid
NJ lawmakers give housing-compliant towns first shot at state grants Trenton, NJ – New Jersey’s Democrat lawmakers are making their point clear to municipalities across the state: build high density affordable housing,…
IMF warns geopolitical fragmentation could raise financial stability risks
By David Lawder WASHINGTON (Reuters) – Rising geopolitical tensions and the resulting fragmentation of the global economy could increase financial stability risks, reducing cross-border investments, asset prices, payment systems and banks’ ability…
China will safeguard yuan and financial stability, central bank governor says
BEIJING (Reuters) – China will safeguard the yuan and financial stability, central bank governor Yi Gang told a financial forum on Tuesday. Yi’s remarks in the wake of the global banking crisis…
Shipbuilder Austal sinks on former U.S. executives’ indictment for financial fraud
(Reuters) – Australian shipbuilder Austal Ltd sank as much as 8.4% to its lowest level in more than four years on Monday after the United States Department of Justice indicted three of…
ECB’s De Guindos warns of broad risks in financial sector
By Giancarlo Navach CERNOBBIO, Italy (Reuters) – The European Central Bank (ECB) is monitoring broad risks across the financial sector and will act to preserve stability in the euro area, ECB vice-president…
Bank of America’s financial planning app draws $55 billion over two-plus years
By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – Bank of America Corp’s digital personal finance tool, Life Plan, has attracted more than $55 billion in new money since its launch…
Factbox: The biggest financial crises of the last four decades
(Reuters) – Markets have experienced massive upheaval in the last month, prompted in part by two of the three largest banking failures in U.S. history while Swiss lender Credit Suisse was bought…
Fed officials say sense of financial stability cleared path for rate hike
By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) – Federal Reserve officials on Friday said there was no indication financial stress was worsening as they gathered at a policy meeting this week,…
Ally Financial taps Goldman Sachs executive Hutchinson as CFO
(Reuters) – Ally Financial Inc has hired Russell Hutchinson from Goldman Sachs as its chief financial officer effective July 3, the company said on Friday. Hutchinson has spent two decades working in…
UK consumer mood hits one-year high, but financial gloom persists
(Reuters) – British consumer confidence rose this month to its highest level in a year, helped by improving sentiment around the economy and despite persistent gloom over personal finances, a survey showed…
NBA Agent and Financial Advisors Charged in $13 Million Fraud Scheme
NEW YORK, NY – Four professional basketball players were defrauded of over $13 million, resulting in charges against Darryl Cohen, Brian Gilder, Charles Briscoe, and Calvin Darden, Jr. The U.S. Attorney for…
Factbox-Warren Buffett’s investments in financial firms
NEW YORK (Reuters) – Berkshire Hathaway’s Warren Buffett has been in discussions with senior Biden administration officials about the banking crisis, leading some to speculate that Buffett would consider investing in the…
US House Financial Services chair: too early to tell if new laws needed after bank failures
By Kanishka Singh WASHINGTON (Reuters) – U.S. House of Representatives Financial Services Committee Chairman Patrick McHenry said on Wednesday it was too early to tell if new legislation is necessary after the…
California’s financial regulator to issue report on Silicon Valley Bank by May
(Reuters) – California’s financial regulator said on Monday it will issue a report on a comprehensive review of its own oversight and regulation of Silicon Valley Bank by early May. “Through this…
SVB Financial Group files ‘First Day Motions’ in bankruptcy court
(Reuters) – SVB Financial Group on Monday filed a number of “First Day Motions” to seek authorization from a bankruptcy court to support the operations of the company’s SVB Capital and SVB…
Taiwan set to stand pat on rates amid global financial woes – Reuters Poll
TAIPEI (Reuters) – Taiwan’s central bank is expected to keep its policy rate unchanged this week, according to economists polled by Reuters, as the island’s economy and inflation slow and global banking…
LatAm growth threatened if financial turbulence spreads -IDB chief economist
By Milagro Vallecillos PANAMA CITY (Reuters) – Latin America could see zero economic growth this year if the banking crisis in the U.S. and Europe “spreads across the world,” Inter-American Development Bank…
Beijing may allow foreign financial firms to list in China – ex-finance minister
SHANGHAI (Reuters) – China will encourage foreign capital to participate in its financial markets and may allow foreign-funded financial institutions to go public in the country when “conditions are ripe”, local media…
Australia ‘closely monitoring’ global financial turmoil -treasurer
SYDNEY (Reuters) – Australia is closely monitoring the current global financial turmoil, including the situation at Swiss lender Credit Suisse and some banks in the United States, Treasurer Jim Chalmers said on…
Germany’s Scholz sees no threat of new financial crisis – Handelsblatt
FRANKFURT (Reuters) – German Chancellor Olaf Scholz sought to assuage fears that the collapse of Silicon Valley Bank and problems at Credit Suisse might trigger a new financial crisis, saying a more…
S&P Global Ratings: no direct threat to Latam financial system from SVB, Credit Suisse
LONDON (Reuters) – The collapse of Silicon Valley Bank last week and the turmoil around Credit Suisse do not pose a direct threat to Latin America’s financial system, S&P Global Ratings said…
Taiwanese financial sector has low exposure to Credit Suisse -regulator
TAIPEI (Reuters) – The Taiwanese financial sector’s exposure to Credit Suisse is low and “controllable”, the island’s financial regulator said on Thursday. Taiwanese insurers – large investors on global bond markets –…
U.S. SEC has responsibility to protect for financial stability- Chair Gensler
By Douglas Gillison (Reuters) – The top U.S. markets regulator on Wednesday renewed a vow to prosecute any misconduct threatening global markets, saying it had a responsibility to protect market resiliency. The…
Financial Ratings Giant Issues Chilling Prediction For Entire Banking Industry
Financial Ratings Giant Issues Chilling Prediction For Entire Banking Industry Laurel Duggan on March 14, 2023 Moody’s Investor Service changed its view on the entire banking system from stable to negative Monday…
CBP Phone Scam Continues to Target Citizens Callers seek information to bypass financial protocols
HOUSTON – Telephone scammers are targeting residents nationwide to gain personal information that would bypass financial security protocols. U.S. Customs and Border Protection employees are continuing to receive numerous calls from people…
Former Rep Behind Landmark Financial Reform Law Is On The Board Of NY Bank That Biden Is Bailing Out
Former Dem Rep Behind Landmark Financial Reform Law Is On The Board Of NY Bank That Biden Is Bailing Out Jason Cohen on March 13, 2023 Former Democratic Rep. Barney Frank of…
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