Author: News Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.HSBC unveiled a goal of saving $300mn this year and cutting $1.5bn from its cost base by the end of next year as it reported a rise in profits in the fourth quarter.The bank said on Wednesday it made a pre-tax profit of $2.3bn in the final three months of last year, in a full-year earnings report that shed light on the impact of chief executive Georges Elhedery’s sweeping overhaul since he took the top job in September.The changes include redrawing HSBC’s operations…

Americans’ household debt levels, including credit card debt, rose to new all-time highs in the fourth quarter of 2024, according to a report by the Federal Reserve Bank of New York. The report showed that overall household debt increased by $93 billion to $18.04 trillion at the end of 2024, an all-time high. Credit card balances rose by $45 billion from the prior quarter to reach $1.21 trillion at the end of December, which is also a record high.Delinquency rates ticked higher by 0.1 percentage points from the prior quarter to 3.6% of outstanding debt in some stage of delinquency, with…

For those of you that have been affected by the Windfall Elimination Provision or the Government Pension Offset, this may be the most important article you read. The Social Security Agency at this point does not have a specific timeframe as to when benefits will be adjusted. The WEP reduces your own Social Security benefit. The GPO reduces spousal, ex-spousal and survivor benefits. On Jan. 5, 2025, President Joe Biden signed the Social Security Fairness Act that eliminated these two provisions that reduce Social Security benefits for people with a “non-covered” pension. A “non-covered” pension is a pension from your…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Australia’s central bank on Tuesday cut interest rates for the first time in more than four years, as inflation pressures began to show signs of easing more quickly than expected.  The Reserve Bank of Australia cut its cash rate by 0.25 basis points to 4.10 per cent.The move, the RBA’s first since November 2020, came as Australia prepares for a nationwide election against a backdrop of elevated costs of living.The central bank said in a statement, however, that it would retain a…

This article was written byFollowMy passion for financial markets started at a young age, and I have been investing since 2006.Later on, I studied Economics and started as a buy-side equity research analyst. After studying for a Master’s Degree in Economic Analysis and working as an accountant, I assumed the position of CFO for a holding company that operates in pharma, medical devices, textiles, food industry, and real estate.My experience as CFO has helped me to understand the ins and outs of a company from the management perspective and some accounting tricks that are not taught at university, which now…

Burnout isn’t just an issue in the workplace. In fact, it may be even more common in our financial lives. Sure, we’ve all heard about the notoriously low savings rates in the U.S. and the paltry average savings in most households, but regardless of income, more than half of the country reports that they are living paycheck-to-paycheck. Furthermore, in my experience working with predominantly wealthy families for the better part of the last 30 years, there’s no net worth number that results in the elimination of financial stress. There may, however, be a method for doing so, and as we…

Stay informed with free updatesSimply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox.Chinese President Xi Jinping met some of the country’s top entrepreneurs on Monday as Beijing looks to reinvigorate private business and pep up the economy. Xi gave an “important speech” at the forum in the Chinese capital after listening to comments from the business community, according to Xinhua, China’s official news agency.Xinhua published a photo showing Lei Jun, founder of tech group Xiaomi, Robin Zeng, founder and chair of leading battery maker CATL, and Wang Xing, founder of food delivery…

This article was written byFollowI am a growth-oriented investor, conducting fundamental research. Long-term focus, independent thinking. I prefer companies with deep moats and high recurring sales growth.Disclosure: Hunter Wolf and I are working in the same investment team. I am writing here independently.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship…

Bad: stubborn price increases. Surprisingly good these days: Your ability to outrun them. By William Baldwin, Senior Contributor Ugly truth about inflation: Once it gets started, it’s hard to stop. But there’s an auspicious element of what’s going on in the financial markets: Investors are much better equipped than they used to be to combat the erosion of their savings. The 3% gain reported February 12 in consumer prices over the past 12 months came in a bit higher than expected and contrasts with the Federal Reserve’s 2% inflation target. On February 13 the Producer Price Index, a measure of…

Beijing is tightening its grip on cutting-edge Chinese technology, aiming to keep critical knowhow within its borders as trade tensions with the US and Europe escalate.Chinese authorities in recent months have made it more difficult for some engineers and equipment to leave the country, proposed new export controls to retain key battery technologies, and moved to restrict technologies for processing critical minerals, according to multiple industry figures and ministry notices. The country’s safeguarding of leading technologies comes amid added tariffs from US President Donald Trump and a trade row with Europe over cars, which threaten to spur more local and foreign…