Consumers’ guide to credit card use: balancing perks with financial health
“Kudlow” panelists Kevin Brady, Art Laffer and Sandra Smith discuss why “Bidenomics” isn’t being embraced by voters. Credit cards have become a staple in American finances as individuals look for ways to gain financial benefits for the present and future. Regardless of age or income, credit card usage is common in the United States. By […]
In European banking, Piigs can still fly – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. The countries of Portugal, Ireland, Italy, Greece and Spain were once known by the ignoble acronym Piigs when, in their collective turmoil, their government debts and bad loans in their banking systems threatened the future of […]
Penalise startups that take state aid then list abroad, says UK Finance | Financial sector
Britain’s banking industry is calling on the next government to impose penalties on government-backed start-ups that list overseas, amid concerns that start-ups will choose overseas stock exchanges over London. In a paper published this week, UK Finance suggested subsidies and tax breaks could be reversed, and argued that companies receiving government support should have a […]
Jill Biden Says She Understands Americans’ Financial Pains While Wearing $10,000 Outfit For Vogue Interview
While Americans struggle to afford groceries, First Lady Jill Biden appeared on the cover of Vogue Magazine wearing a roughly ten thousand dollar outfit. Vogue released its August issue Monday morning, a few days after President Joe Biden’s poor debate performance prompted calls for him to step down. This is Jill Biden’s third Vogue cover […]
Citi was money launderers' favourite bank, US law enforcement officials say – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. Senior U.S. law enforcement officials say drug traffickers chose to launder their money through Citigroup because they considered the bank’s less strict anti-fraud measures “preferable.” In an indictment unsealed last week, U.S. prosecutors detailed how two […]
California to Require Financial Literacy Class for High Schoolers
The California Governor’s Office has announced that future high school students in the state will soon be required to take a financial literacy class in order to graduate. a invoice The bill, introduced by state Assemblyman Kevin McCarty (D) and supported by a bipartisan group of Republicans and Democrats, aims to incorporate a semester-long personal […]
NYSE trading glitch costs Interactive Brokers $48mn – Financial Times
Get your free copy of Editor’s Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. A trading glitch on the New York Stock Exchange last month caused Interactive Brokers to lose $48 million after clients tried to buy large amounts of Berkshire Hathaway shares after they plummeted 99%. The company said […]
Threat of deposit exodus haunts Japan's regional banks – Financial Times
This month, Japanese digital lender Sony Bank began offering customers yen savings accounts with a trial interest rate of 10.52% per year, a remarkable yield in a country where savings have generated little profit for almost two decades. For many of Japan’s 62 regional banks, stiff competition from online challengers threatens to trigger deposit outflows […]
US Treasury imposes financial sanctions against 2 Mexican drug cartel leaders
Two leaders of the La Nueva Familia Michoacana drug cartel, who were indicted in 2017 on charges of conspiring to import and distribute heroin in the United States, face financial sanctions from the U.S. Treasury Department as fugitives believed to be living in Mexico, according to the Department of Justice (DOJ). Rodolfo Maldonado Bustos, 59, […]
Medical debt may come off credit reports soon, helping Americans qualify for more financial products
The CFPB wants to remove medical debt from the credit reports of millions of Americans. (iStock) Medical expenses may soon be removed from many credit reports, the Consumer Financial Protection Bureau (CFPB) said. Proposed the rule The bill aims to remove medical debt from credit reports and prevent debt collectors from using the reporting system […]