Reported about 1 month ago
Refinancing a mortgage can temporarily lower your credit score due to hard credit inquiries and the potential change in the length of your credit history. While the initial hit may only be a few points, missed payments during the refinancing process are a bigger risk to watch for. Homeowners should ensure timely payments throughout the refinancing to safeguard their credit scores.
Source: YAHOO
Reported about 1 month ago
Balbec Capital Management has acquired a portfolio of over €4 billion ($4.4 billion) worth of soured loans from LX Partners, marking one of the largest transactions of its kind in recent years. The portfolio includes more than 300,000 restructured and non-performing loans, primarily consisting of unsecured debt from small and medium-sized businesses. Balbec sees this acquisition as a re-entry into the Portuguese market due to the availability of ample non-performing loans and reduced competition.
Source: YAHOO
Reported about 1 month ago
Tropical Storm Francine has intensified in the Gulf of Mexico, leading to the evacuation of oil rigs and temporary halts in offshore production by major companies like Chevron, ExxonMobil, and Shell. Expected to hit the Gulf Coast by Wednesday as a Category 1 hurricane, Francine is forecasted to bring powerful winds and heavy rainfall, potentially causing life-threatening storm surges along the Texas and Louisiana coastlines.
Source: YAHOO
Reported about 1 month ago
Former NFL player Brandon Copeland discusses effective financial planning strategies for significant life transitions, from career changes to long-term relationships. He emphasizes the importance of saving ahead of job pivots and ensuring financial alignment in relationships. Couples should develop clear financial goals together and create a structured plan that aligns with a five-year vision, while also setting intermediate milestones.
Source: YAHOO
Reported about 1 month ago
According to an FBI report, Americans lost over $5.6 billion to cryptocurrency fraud schemes in 2023, marking a 45% increase from the previous year. Almost 70,000 complaints were received, primarily related to investment fraud, which accounted for around $3.96 billion of the losses. Scammers often build trust through dating apps and social media before directing victims to fake investment platforms. The FBI warns that anyone can be a target and advises extreme caution with unfamiliar investment opportunities.
Source: YAHOO
Reported about 1 month ago
Google faces a significant antitrust trial initiated by the US Justice Department and a coalition of states, which accuse the tech giant of monopolizing the $677 billion display advertising market. The case highlights allegations of anti-competitive practices, including the acquisition of rival firms and the manipulation of advertising prices to benefit its own products. As the trial unfolds, Google argues that it competes vigorously with other leading companies and that its technology enhances efficiency and security in the advertising space.
Source: YAHOO
Reported about 1 month ago
As the Federal Reserve prepares for a potential interest rate cut, it's advised not to postpone taking out long-term loans. Yale's finance professor Kelly Shue emphasizes that long-term loan rates already incorporate market expectations regarding Fed actions, meaning waiting could yield no significant benefits. Thus, homebuyers shouldn't wait for a rate cut before securing a mortgage.
Source: YAHOO
Reported about 1 month ago
Apple has unveiled the iPhone 16, emphasizing its groundbreaking artificial intelligence capabilities integrated into the device. The new models, including the iPhone 16 and 16 Plus, feature customizable buttons, enhanced camera controls, and improved processors that cater to AI tasks. The presentation also introduced a redesigned Apple Watch with new health features, although the full potential of Apple's AI offerings, termed Apple Intelligence, is not expected to be realized until later due to developmental delays. Preorders start Friday, with devices launching on September 20.
Source: YAHOO
Reported about 1 month ago
A recent study indicates that Brazil's instant payment system, Pix, is predicted to overtake credit cards as the dominant payment method in the country's online shopping sector by 2025. Launched in 2020, Pix has quickly gained popularity due to its free and instant transactions, and is expected to capture 44% of the online payment market, while credit cards are projected to hold 41%. Increased financial inclusion and new features being introduced could further boost Pix's usage.
Source: YAHOO
Reported about 1 month ago
At its 'It's Glowtime' event, Apple unveiled the updated Apple Watch Series 10, featuring a larger screen starting at $399, and introduced the new iPhone 16 with expected AI enhancements. Meanwhile, major stock market indices are rebounding from last week's losses, with prominent tickers like AT&T, Summit Therapeutics, and Relay Therapeutics gaining traction.
Source: YAHOO
Reported about 1 month ago
Apple has unveiled a refreshed AirPods lineup, including the AirPods 4 with active noise cancellation and the upgraded AirPods Pro 2 featuring hearing aid functions. During its annual iPhone event, the company highlighted the new hearing protection features and a clinically validated hearing test provided with the AirPods Pro 2. The AirPods 4 now include Apple's H2 chip, spatial audio, and a more compact charging case with extended battery life. New colors for the AirPods Max were also introduced, continuing Apple's growth in the audio accessories market.
Source: YAHOO
Reported about 1 month ago
The FBI's Internet Crime Complaint Center revealed that losses from cryptocurrency scams soared by 45% in 2023, totaling over $5.6 billion. The report highlighted that investment scams accounted for 71% of these losses, while older adults, particularly those over 60, were the most affected demographic.
Source: YAHOO
Reported about 1 month ago
Bank of America has recruited Tim Carpenter from JPMorgan Chase to co-lead its software investment banking division, as the investment banking sector improves in 2024. Carpenter has a robust background in technology investment banking and will join Bank of America in December, partnering with current software co-head Edward Liu.
Source: YAHOO
Reported about 1 month ago
Huntington Bancshares is set to expand its presence in the Carolinas by building 55 new branches over the next five years, aiming to capture an estimated $8 billion deposit opportunity. The bank plans to hire over 350 employees and leverage its recent expansion strategies from other markets to support growth in consumer lending and wealth management, amidst increasing competition from other financial institutions in the region.
Source: YAHOO
Reported about 1 month ago
The Securities and Exchange Commission (SEC) has settled with seven companies, imposing over $3 million in civil penalties for violating whistleblower protection rules. The charges included requiring employees to waive their rights to monetary awards for reporting misconduct. Notable companies involved include Acadia Healthcare, with penalties of approximately $1.4 million, and TransUnion, which stated it is making changes to better inform employees about their rights.
Source: YAHOO
Reported about 1 month ago
Norfolk Southern's CEO, Alan Shaw, is under investigation for possible ethical lapses, confirmed the railroad on Monday. The specifics of the allegations remain undisclosed. Shaw, who has faced significant pressure following a major derailment in early 2023 and challenges to his position from investors, was promoted to CEO in spring 2022. An external law firm has been engaged to look into these allegations which are considered potentially inconsistent with the company's code of ethics.
Source: YAHOO
Reported about 1 month ago
Swedish pension fund Alecta has rejected most of the preliminary findings from the Financial Supervisory Authority regarding over $3.2 billion in losses due to investment missteps. The authority is investigating Alecta's investments in failed banks, including Silicon Valley Bank, and a stake in Swedish property firm Heimstaden Bostad AB. Alecta, which manages around $115 billion, stated in a response that it does not agree with the regulator's assessments, emphasizing its role as a mutual pension company owned by policyholders.
Source: YAHOO
Reported about 1 month ago
Apple has unveiled the Apple Watch Series 10 at its latest product event, featuring larger displays with up to 30% more screen area, a new S10 chip for improved functionalities, and health tracking enhancements including sleep apnea detection. The Series 10, priced at $399, offers increased battery efficiency and new design elements, while also introducing advanced fitness tracking features. Additionally, the Apple Watch Ultra 2 received a minor update with a new finish, catering to sports enthusiasts.
Source: YAHOO
Reported about 1 month ago
After a recent sell-off triggered by mixed economic data, expert Jeremy Bryan from Gradient Investments emphasizes that stocks are not yet at bargain levels despite a slight pullback. He advises cautious investors to consider reasonable valuations in sectors like defense, highlighting companies such as Northrop Grumman and RTX Corporation, while also suggesting a reevaluation of overexposed chip stocks, including Nvidia and Apple.
Source: YAHOO
Reported about 1 month ago
The U.S. Securities and Exchange Commission (SEC) has voted 3-2 to approve new accounting standards aimed at improving audit quality, despite opposition from Republican members who criticized the process and potential burdens on smaller firms. The standards, adopted by the Public Company Accounting Oversight Board (PCAOB), will require firms to enhance their risk management and accountability in audits. The new measures, prompted by findings that nearly half of audit engagements reviewed in 2023 were inadequate, are set to be implemented in December next year.
Source: YAHOO
Reported about 1 month ago
US employers are currently hesitant to hire more workers due to economic uncertainty surrounding the upcoming presidential election and fluctuating interest rates. Despite a slight decrease in the unemployment rate, hiring has significantly slowed, with job openings at a low not seen since January 2021. Many businesses are holding off on hiring until the economic landscape becomes clearer, and there's anticipation of interest rate cuts that may influence hiring trends in the future.
Source: YAHOO
Reported about 1 month ago
Google is back in court on September 9, facing an antitrust lawsuit from the Department of Justice, focusing on its advertising business following a previous ruling that labeled its search engine as 'monopolistic.' Legal expert George Alan Hay discusses the implications, suggesting that existing contracts benefiting Google may need to be revised or dissolved to enhance competition.
Source: YAHOO
Reported about 1 month ago
As the Federal Reserve prepares for a potential rate cut, credit card holders should not expect significant relief. With credit card debt exceeding $1 trillion and average interest rates around 21%, experts suggest taking proactive steps to reduce balances now. Recommendations include utilizing balance transfer cards for lower initial rates, considering personal loans for consolidation, and monitoring spending habits to curb further debt accumulation.
Source: YAHOO
Reported about 1 month ago
Investors are left uncertain about the Federal Reserve's next moves on interest rates following the August jobs report. Brian McCarthy, Chief Strategist at Macrolens, warns that a modest 25 basis-point cut might not meet market expectations, potentially leading to heightened volatility. He highlights disguised weaknesses in the job market, particularly as recent government and healthcare hiring trends mask broader employment struggles. Watch for insights on future market movements in the full episode of Catalysts.
Source: YAHOO
Reported about 1 month ago
Market volatility in the US is not necessarily a signal of disaster, according to Jeremy Bryan, senior portfolio manager at Gradient Investments. He believes that while fluctuations will continue, they do not indicate a sustainable trend in either direction. Investors should prepare for a choppy market, especially ahead of the Federal Reserve's anticipated interest rate cut, where a moderate 25-basis-point reduction is expected. In the months to come, trading will heavily rely on economic data as earnings reports won't be available until mid-October.
Source: YAHOO