Author: News Room
The Federal Deposit Insurance Corporation (FDIC) has retained BlackRock Inc unit Financial Market Advisory to sell the securities portfolios it kept in receivership after the collapse of Signature Bank and Silicon Valley Bank. The face values of the two portfolios are about $27 billion and $87 billion, the regulator said in a statement on Wednesday. Reuters earlier reported that the FDIC retained advisers to sell the securities portfolios that the new owners of the two banks had rejected. On Monday, the FDIC announced the marketing process for an about $60 billion loan portfolio retained in receivership following the failure of…
Check out the companies making headlines in midday trading.Nvidia – Shares of the chipmaker slid about 3% a day after Google revealed details about its artificial intelligence supercomputer and claimed that, compared to similar systems, it’s 1.2-1.7x faster and uses 1.3-1.9x less power than the Nvidia A100.Palantir Technologies – Shares of the big data company, known for its many government contracts, fell about 5% after Palantir announced the expansion of its partnership with Microsoft to the public sector from the private sector. This development would give U.S. government customers and industry partners access to enterprise-grade capabilities by Palantir and Microsoft.Western…
U.S equity futures rose slightly Sunday evening as investors looked ahead to key inflation data and the start of first-quarter earnings season.Futures tied to the broad market S&P 500 rose 44 points, or 0.2% and Dow Jones Industrial Average futures edged up 0.1%. Nasdaq 100 futures advanced 0.2%.On Thursday, the major averages rose to end a holiday-shortened trading week. However, only the Dow notched a weekly gain of 0.6% while the S&P 500 and Nasdaq Composite posted weekly losses, ending lower by 0.1% and 1.1%, respectively.The market was volatile as economic data showed signs of a weakening labor market. The March jobs…
A home theater from a renowned designer, a wine cellar and tasting room that feel plucked from Tuscany and a solarium with a fireplace that sits in a lion’s mouth are just a few of the glamorous features of a palatial estate in Saddle River, New Jersey. The home on Fox Hedge Road is nearly 20,000 square feet and sits on 4 private, gated acres, perched at the top of a hill on one of the area’s most desirable streets, according to listing agent Vicki Gaily of Special Properties. It is listed for $7.995 million. Custom built in the mid-1990s,…
A common saying, we have heard is that “Money is the root of all evil.” Surprisingly, that is not the original quote, but like many famous sayings, it’s been misremembered and misinterpreted over time. The original quote is from a Bible verse found in First Timothy 6:10 that says, “For the love of money is a root of all kinds of evil.” The meaning behind this quote is not a denunciation of money or a prohibition against wealth. Instead, it highlights that having the wrong kind of attitude towards money is what can negatively influence your life. We have seen…
The collapse and federal takeover of Silicon Valley Bank (SVB VB ) and Signature Bank is generating worries about where the next bank failures might occur. Will they hit smaller banks with high commercial real estate (CRE) exposure, as the CRE sector faces persistent economic challenges? And why do we continue seeing periodic financial sector crises? Concerns over small bank risks gained a lot of attention recently, when Goldman Sachs’ Richard Ramsden, the firm’s leader of the Financial Group in Global Investment Research, wrote a widely quoted cautionary note. Ramsden said he expects banks to “pull back on commercial real…
Marcia S. Wagner, Esq., President/Founder of The Wagner Law Group in Boston, is one of the nation’s most notable ERISA attorneys. She founded The Wagner Law Group over 25 years ago after a decade of practicing employee benefits law. She graduated summa cum laude and Phi Beta Kappa from Cornell University and is a graduate of the Harvard Law School. Wagner is one of a handful of “go-to” lawyers for ERISA law, regulation, and litigation. Indeed, as her online bio describes, “a recent Court decision cited her expert testimony as having been pivotal to the outcome, finding her ‘experience with…
Financial technology is growing and improving every day and robo- and hybrid-advisors are creating a more accessible and affordable way to gain financial guidance. With all the advancements, many people have asked me this question: are financial advisors going to become obsolete? Naturally as a financial advisor myself, I sure hope not. But I also really don’t think it’s going to happen. Yes, things are changing. Just a few decades ago, financial advisors were mostly stockbrokers who had access to information that the average person did not. The value of the advisor was in their knowledge and understanding of publicly…
By Andrea Shalal WASHINGTON (Reuters) – International Monetary Fund chief Kristalina Georgieva said she told China’s new top economic official, Li Qiang, that China must accelerate its work to reach debt restructuring agreements for countries like Zambia, Ghana and Ethiopia. Georgieva, who met with Li and other top Chinese officials during a visit to China last month, said on Thursday that she found Li very approachable and pragmatic, and he assured her that he wants China to play a constructive role in resolving debt relief cases. “The truth is, and I was … very straightforward on that, it takes far…
By Ambar Warrick Investing.com — Most Asian currencies moved little on Friday as the dollar weakened on signs of a softening labor market, with focus now turning squarely to a reading on the Federal Reserve’s preferred inflation gauge later in the day. Still, most Asian currencies were trading higher for the first quarter of 2023, as fears of a banking crisis decimated the dollar and spurred bets that the will taper its hawkish stance. The greenback was down 1% over the past three months. Regional currencies took few cues from mixed Chinese business activity data, which showed that while activity…
