Tag: Financial Services
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Fed no longer foresees a U.S. recession — and other things we learned from Powell’s press conference
[ad_1] The Federal Reserve on Wednesday raised its benchmark interest rate to a range of 5.25% to 5.5%, the highest level in 22 years, in order to combat “elevated” inflation. With financial markets and economists widely expecting that rate move, the focus was on Fed Chair Jerome Powell’s one-hour session with reporters, which followed. Here…
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Netflix attacked for posting AI jobs that pay $900K while writers, actors strike
[ad_1] Among the many reasons why Hollywood actors have joined screenwriters in a historic industry-stopping strike are calls for better pay, plus greater protections against the rise of artificial intelligence in developing scripts or using artist’s likenesses in movie and TV productions. So it shouldn’t come as a surprise that Netflix NFLX, -1.18% is catching…
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I’m a single parent with 2 kids, and owe $27,000 after being scammed. What now?
[ad_1] I’m a single parent with two kids, and fell victim to an online dating scam. I have no legal recourse as I did this on my own, thinking I was helping someone. My credit has now tanked. I owe $17,000 on one credit card, and I have two loans of $5,000 each. I have my…
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Regional-bank stocks move up after PacWest deal suggests stabilization in sector
[ad_1] Regional-bank stocks rose Wednesday as hard-hit PacWest Bancorp agreed to be acquired by Banc of California in a sign that the hangover from bank failures earlier this year may be receding. “The implied take out price of $9.60 is higher than many estimated, with ‘[PacWest] resolution’ a net positive for the banking sector,” KBW…
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NatWest CEO resigns after admitting to be source for inaccurate story on Nigel Farage
[ad_1] The chief executive of NatWest resigned on Wednesday, leaving after admitting to leaking banking information on a conservative politician to the BBC. Alison Rose will step down “by mutual consent,” just a day after she said she was the source of a story from the BBC that Nigel Farage had his account closed because…
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Visa earnings benefit from ‘resilient’ spending, though stock dips as growth slows
[ad_1] Visa Inc. called out robust spending trends as the payment-technology giant topped earnings and revenue expectations for its latest quarter, though its shares ticked lower after Tuesday’s report. The company logged a 9% increase in payments volume during the June quarter, along with a 10% increase in processed transactions. “The consumer is resilient and…
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Billionaire owner of Tottenham football club charged with insider trading
[ad_1] U.S. prosecutors have called an offsides on the British billionaire owner of Tottenham Hotspur soccer team, charging him with a “brazen insider-trading scheme,” in which he passed secret stock tips worth millions to his girlfriends, private pilots and assistants for years. Joe Lewis, 86, who is one of the richest people in the United…