SEC obtains Wall Street firms’ private chats in probe of WhatsApp, Signal use
SEC suspicions — Execs' "messages discussing business have been handed to the SEC," report says. Jon Brodkin - Sep 25, 2023 9:03 pm UTC Getty Images | NurPhoto The US…
McCarthy Puts Off Spending Votes, Stymied in Efforts to Avert a Shutdown
AdvertisementSKIP ADVERTISEMENTSpeaker Kevin McCarthy, grasping for G.O.P. votes to bring spending bills up for debate, proposed a new measure with deeper cuts to appease the hard right, paving the way…
Top Democrat says House Republicans are in a ‘civil war’ as government shutdown looms
House Minority Leader Hakeem Jeffries, D-N.Y., said Sunday that Republicans are “in the middle of a civil war” as both parties wrestle for an agreement to avert a government shutdown…
House G.O.P. Considers Stopgap Spending Bill to Avert a Shutdown
AdvertisementSKIP ADVERTISEMENTRepublicans were presented a plan on Sunday night to cut spending, impose strict border restrictions and keep federal agencies open for another month to allow more time to pass…
US consumer spending surges; weekly jobless claims fall
In July, consumer spending in the U.S. exceeded expectations, increasing by 0.8%. This was mainly due to spending on goods and services. The economy is benefitting from this as well…
Average long-term US mortgage rate climbs to 7.09% this week to highest level in more than 20 years
The rise in US mortgage rates has been a cause for concern for many homeowners. In addition to the 30-year fixed-rate mortgage hitting a 21-year high of 7.09%, other types…
The U.S. economy added 187,000 jobs in July, fewer than expected
In July, the US economy gained 187,000 jobs, which is less than previous months and suggests a slowdown in the labor market. Despite this, the unemployment rate decreased to 3.5%,…
U.S. Economic Growth Accelerates, Defying Slowdown Expectations
In the second quarter, the economy of the United States grew faster than what was initially predicted, with its Gross Domestic Product (GDP) increasing at an annualized rate of 2.4%.…
Consumer price growth falls for 12th-consecutive month to 3%
Consumer prices continued their decline in June for the 12th month in a row, falling to 3%. While forecasts predicted that consumer price increases would slow to 3.1% in June,…
3 tax prep firms shared ‘extraordinarily sensitive’ data about taxpayers with Meta, lawmakers say
Sen. Elizabeth Warren and other Congressional Democrats are urging federal agencies to investigate H&R Block, TaxAct, and TaxSlayer for sharing sensitive taxpayer data with Facebook's parent company, Meta. The lawmakers'…
US job market added 209,000 jobs in June
The US job market experienced a slight slowdown in June, with nonfarm payrolls rising by 209,000, which fell short of the expected growth of 240,000. However, the unemployment rate remained…
Inflation slowed in April to lowest rate since 2021
Consumer prices rose 0.4 percent in April to hit an annual increase of 4.9 percent, according to inflation data released Wednesday by the Labor Department. That’s the lowest annual inflation…
UPS faces Q1 earnings decline with high-stakes Teamsters negotiations underway
By Dave Van Zandt The global package delivery and supply chain management company, UPS, has disclosed its first-quarter results, reporting a decline in revenue and earnings for Q1 2023 compared…
Consumer prices up 5 percent annually as inflation cools
Prices across the economy fell to an annual increase of 5 percent, down from 6 percent annually in February, according to data from the Labor Department. On a monthly basis,…
IMF warns deeper financial turmoil would slam global growth
The International Monetary Fund on Tuesday trimmed its 2023 global growth outlook slightly as higher interest rates cool activity but warned that a severe flare-up of financial system turmoil could…
The job market is cooling as higher interest rates and a slowing economy take a toll
The U.S. job market is showing signs of softening as rising interest rates and slowing economic growth begin to take their toll on hiring. Employers added 236,000 jobs in March,…
IMF’s Georgieva sees global growth below 3% in 2023, says robust recovery remains ‘elusive’
The International Monetary Fund expects global economic growth to dip below 3% in 2023 and to remain around 3% for the next five years, IMF Managing Director Kristalina Georgieva said…
White House pushing banking rule changes that don’t need congressional action
The White House is urging independent financial regulators to institute a number of banking rule changes in the wake of two recent bank collapses, including reinstating regulations that were rolled…
First Citizens Bank to buy SVB’s deposits, loans from FDIC
First Citizens will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this month, setting off a chain reaction that caused a second bank to fail and tested…
Analyzing the Recent Banking Crisis: Insights from Top Financial Media Outlets
By McKenzie Huitsing Introduction: The recent banking crisis has made headlines across various news outlets, highlighting the importance of staying informed with accurate and reliable information. This article will analyze…