Nearly 13,000 United Auto Workers (UAW) members have begun a strike from the the top three U.S. automakers — Ford, General Motors, and Stellantis, maker
According to Redfin, the typical homebuyer’s monthly mortgage payment is up 19% compared to a year ago. Housing payments remain historically high because mortgage rates
On Tuesday Wall Street dropped as financial stocks fell following Moody’s overnight credit rating cuts on several U.S. banks and warned it could also downgrade
Russia has taken one stop closer to introducing its central bank digital currency (CBDC) as the lower chamber of the Federal Assembly of the Russian
On Friday Kitco reported that Brazil, Russia, India, China and South Africa (BRICS) are set to launch of a new gold-backed currency and are expected
According to the minutes from the June Federal Open Market Committee (FOMC) policy meeting, Federal Reserve officials agree that more rate hikes are ahead but
The latest data compiled by the World Gold Council show that eight central banks added gold reserves in May with net purchases totaling 50 tons.
British reporter Nigel Farage, Brexit-provacateur and recent winner of the “news presenter of the year” award spoke out about his bank accounts being abruptly closed
BlackRock CEO Larry Fink admitted that his firm was hurt when Florida Governor Ron DeSantis (R) pulled $2 billion in assets managed by the firm
The Federal Deposit Insurance Corporation (FDIC) said it mistakenly released an unredacted document showing the biggest Silicon Valley Bank (SVB) customers who were bailed out
As diamond prices have been crashing for the last year and a half, diamond deflation has arrived with a bang, with levels not seen since
Debt ceiling negotiations are still under way as a possible default inches closer to the estimated deadline of June 1. Biden hopes the debt ceiling
Debt ceiling negotiations continued between President Joe Biden and House Speaker Kevin McCarthy (R-CA) on Tuesday resulting in the delegation of trusted surrogates to resolve
During debt ceiling negotiations on Tuesday, President Joe Biden rejected any changes to the Inflation Reduction Act. The White House is considering a cap on future
Italian Prime Minister Giorgia Meloni’s government is readying plans to pull the trigger on a formal exit from China’s controversial Belt and Road Initiative (BRI),
Pacific Western Bank confirmed on Thursday that it is reviewing “strategic options” and has been approached by potential investors. California-based PacWest Bancorp holding company, owner
On Wednesday the Federal Reserve, in a unanimous decision, increased interest rates by a quarter of a point putting the benchmark federal funds rate at
On Wednesday Bloomberg reported that PacWest Bancorp is considering a sale or other options. The California-based bank has not begun an official process for auction,
Managing director of the International Monetary Fund (IMF) Kristalina Georgieva warns against a widespread adoption of central bank digital currencies (CBDC) without considering potential risk
White House Press Secretary Karine Jean-Pierre has clarified that President Biden will not negotiate on the debt ceiling during a scheduled May 9 meeting with
On Monday new mortgage rules under the Biden administration went into effect which could increase fees for borrowers with good credit scores to offset costs
President Biden is set to meet with Congressional leaders on May 9 to discuss how the U.S. will avoid running out of money after Treasury
Experts say the acquisition of First Republic Bank by JPMorgan Chase is an indication of increasing consolidation in U.S. banking in which large banks become
J.P. Morgan Chase said on Monday it will buy most of First Republic Bank’s assets after regulators seized the lender over the weekend, the third
Justin Haskins, director of the Socialism Research Center at The Heartland Institute, describes what he believes is the Biden Administration’s goal of replacing America’s currency
The U.K. inflation rate remained in the double digits for the second consecutive month with annual price increases of 10.1% seen in March. Capital Economics,
In the wake of the Silicon Valley Bank (SVB) failure, America’s 25 biggest banks experienced a huge outflow of deposits last week of $90 billion.
On Tuesday in an interview with CBS News, Mark Zandi, Moody’s Analytics Chief Economist, said “things are going to start to wobble and break and
Credit Suisse Additional Tier 1 (AT1) bondholders are exploring possible legal action following the state-backed rescue by UBS which wiped out AT1 bonds according to
On Monday shares of Credit Suisse fell 60 percent, a day after rival UBS acquired the troubled bank at a lowball price of 3 billion
Credit Suisse, Switzerland’s second biggest lender, announced it would borrow up to 50 billion Swiss francs, equivalent to $53.68 billion, from the Swiss National Bank
On Wednesday Credit Suisse lost nearly 25% of its value, plunging to a new record low. The Swiss bank’s largest investor, Saudi National Bank (SNB),
Moody’s Investor Service, one of three major rating entities, has downgraded the U.S. banking system from “stable” to “negative.” Following the most significant bank failure
New York-based Signature Bank (SBNY.O) was closed by state regulators on Sunday, only two days after Silicon Valley Bank (SVB) collapsed. Signature Bank’s failure was
In just 48 hours the banking sector has experienced the collapse of two major U.S. banks — Silicon Valley Bank (SVB) and Silvergate. SVB serviced
Investigative reporter Paul Sperry, a New York Post columnist and veteran Hoover Institute media fellow, discovered a connection between Biden’s treasury secretary Janet Yellen and
The collapse of Silicon Valley Bank (SVB) has resulted in problems for Chinese funds and tech start-ups that used the bank as a funding bridge
CEO of Silicon Valley Bank (SVB) Greg Becker sold $3.6 million in shares of the bank’s parent company on February 27, just weeks before SVB
Today the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB), Santa Clara, California, and appointed the Federal Deposit Insurance Corporation (FDIC)
A large-scale push toward the digital wallet space from major U.S. banks competing with Apple Pay and PayPal is coming midyear 2023. According to the
As the annual conference of the World Economic Forum (WEF) kicked off on Monday in Davos, Switzerland, it is reported that WEF associates are discussing
Ukrainian President Volodymyr Zelenskyy announced he will continue partnership with BlackRock, the world’s largest investment management company, to rebuild war-torn Ukraine. He also announced Ukraine’s
Just days after former CEO Sam Bankman-Fried (SBF) of bankrupt FTX was released on a $250 million bond, activity was seen of outgoing funds transfers
On Thursday following his first appearance in Manhattan federal court, FTX founder Sam Bankman-Fried (SBF) is set to be released on a $250 million bond
Auditor Mazars has removed crypto exchange Binance proof-of-reserve audits from its website. This follows confirmation on December 7 by Mazars that Binance possessed control over
The Securities Exchange Commission (SEC) alleges that FTX founder Sam Bankman-Fried (SBF) “orchestrated a year-long fraud” which was intended to hide customers’ money that was
Attorney General of The Bahamas confirmed that criminal charges have been filed against FTX founder Sam Bankman-Fried (SBF); he has been arrested and taken into
FTX founder Sam Bankman-Fried was seen in the Bahamas on Saturday after the sudden collapse of his cryptocurrency empire, with up to $2 billion in
Bracing for a recession, CEOs and investors are reconsidering their business strategies as companies are becoming infiltrated with radical activism. A whopping 59% of CEOs
On Thursday the Bank of England warned the outlook for the economy is “very challenging” and raised interest rates to 3%, an increase not seen
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