Author: News Room

Last updated: May 10, 2024 14:46 EDT | 2 min read The White House is reportedly set to nominate Kristin Johnson, a commissioner at the Commodity Futures Trading Commission (CFTC), to fill a top role at the US Treasury Department overseeing banks, according to a May 9 report by Bloomberg.According to the report, Commissioner Johnson is endorsed to become the Assistant Secretary of the Treasury for Financial Institutions, with the announcement expected to be made public soon.CFTC Commissioner Expected to Coordinate with the US SECIf confirmed, Johnson will lead financial policies on credit unions, insurance, and consumer protection. She will…

Buckle up: An unusual amount of solar activity this week could disrupt some of the most important technologies society relies on. On Thursday, the US government issued its first severe geomagnetic storm watch in nearly 20 years, advising the public of “at least five earth-directed coronal mass ejections” as well as sunspots covering an area 16 times wider than the earth itself. A severe geomagnetic storm, or G4, is the second-highest grade in the US government’s classification system. Radiation from this activity will begin to hit Earth’s magnetic field on Friday and last through the weekend, said the National Oceanic and…

Jim Simons, a mathematician who founded the most successful quantitative hedge fund of all time, passed away on Friday in New York City, his foundation announced on its website.Pioneering mathematical models and algorithms to make investment decisions, Simons left behind a track record at Renaissance Technologies that rivaled that of legends such as Warren Buffett and George Soros. His flagship Medallion Fund enjoyed annual returns of 66% between 1988 to 2018, according to Gregory Zuckerman’s book “The Man Who Solved the Market.”During the Vietnam War, he worked as a codebreaker for U.S. intelligence, monitoring the Soviet Union and successfully cracking a Russian…

McDonald’s is working to introduce a value meal in U.S. stores to help offset an increasingly challenging environment for consumers, two people familiar with the matter told CNBC.The people said the $5 meal could include four items: a McChicken or McDouble, four-piece chicken nuggets, fries and a drink. The value meal was first reported by Bloomberg News.The potential new offering comes at a time when low-income consumers are beginning to pull back on spending, particularly at fast-food brands. Mentions of low-income consumers on company earnings calls are at their highest levels in nearly two years, according to data from Bank…

Federal officials announced Thursday that they are investigating “bait and switch” schemes associated with credit card rewards and travel programs.    The Consumer Financial Protection Bureau (CFPB) analyzed “several hundred consumer complaints” that are related to the administration of credit card rewards programs. In its analysis, the agency said it identified four recurring issues that resulted in consumers either not receiving the rewards they were promised, facing unexpected promotional conditions, seeing a devaluation in their points, having redemption problems and even revocation.”Credit card companies promise upfront benefits for signing up and using their rewards card, but often bury complex terms…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 30-year fixed-rate mortgage is 7.125% as of May 1, which is 0.375 percentage points lower than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.625%, which is 0.125 percentage points higher than yesterday. With mortgage rates changing daily, it’s a good idea to…

Our elders love their independence, for the most part. Perhaps over time, their chronic health conditions start to erode their abilities to do some things independently. In the absence of a sudden event, like a fall, the slow decline in physical ability may not be obvious when family visit their loved ones. And at some point, the activity your elder has always done on their own becomes dangerous. But how can we tell when they reach that point? The “Activities of Daily Living” and Safety The medical community and home care providers often refer to how well a person can…

Jake Tapper explains how the jury reacted to Stormy Daniels’ testimony CNN’s Jake Tapper details the scene inside former President Donald Trump’s hush money trial. Stormy Daniels took the stand for a second day to be cross-examined by Trump’s attorney Susan Necheles. Read the full article here

Stay informed with free updatesSimply sign up to the Private equity myFT Digest — delivered directly to your inbox.US financier Todd Boehly’s investment house is in advanced talks to buy European private credit firm Hayfin Capital Management, according to people familiar with the matter. A deal would give Boehly’s Eldridge Industries a foothold in the fast-growing market for lending to private European companies, building on its investments spanning insurance, asset management, technology, media and real estate. Hayfin has more than €30bn in assets under management, across direct lending, special opportunities and high-yield credit. The proposed deal values Hayfin at more than €1bn,…

Black Hills Corporation (NYSE:BKH) Q1 2024 Results Conference Call May 9, 2024 11:00 AM ET Company Participants Dave Soderquist – Investor Relations ManagerLinden Evans – President and CEOKimberly Nooney – SVP and CFOMarne Jones – SVP, UtilitiesTodd Jacobs – SVP, Growth and Strategy Conference Call Participants Andrew Weisel – ScotiabankBrandon Lee – Mizuho Operator Good day, and thank you for standing by. Welcome to the Black Hills Corporation’s First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that…