Mega Millions jackpot tops $1B: What to know if you win
Wells Fargo Advice & Planning managing director Emily Irwin’s do’s and don’ts if you win the billion-dollar Mega Millions drawing Tuesday night.
FTC orders Mastercard to stop blocking competitor debit payments
The Federal Trade Commission has ordered Mastercard to cease business practices it claims are designed to bar vendors from routing payments through third parties.
Crypto giant Binance offers little transparency after FTX collapse
Binances internal finances still remain opaque to investors after the collapse of Sam Bankman-Fried's cryptocurrency trading firm FTX caused increase scrutiny.
Goldman Sachs considering cutting bonuses by 40%: report
Goldman Sachs may cut the bonus pools for 3,000 investment bankers by at least 40%, the highest cut since the 2008 financial crisis, according to a new report.
Binance CEO tweets ‘business as usual’ after pausing USDC coin withdrawal Tuesday
Binance CEO Changpeng "CZ" Zhao said on Wednesday things have normalized after the crypto exchange paused withdrawals of its USDC coin
Juul Labs will pay $1.2B for role in youth-vaping epidemic
Juul Labs gets equity investment to pay $1.2 billion in settlements for contributing to America’s youth vaping epidemic.
Accounting red flags are common among public crypto companies
Accounting issues that brought down major crypto firms like FTX and Celsius, exist in firms weathering the crypto contagion such as Marathon and Riot Blockchain.
Bank regulator’s anti-racism efforts go too far, witnesses tell Senate: ‘Disparity is not discrimination’
Witnesses told the Senate Banking Committee that only those policies that are explicitly discriminatory should be rooted out to make the financial system fair.
JPMorgan, other banks in talks to reimburse scammed Zelle customers
The pandemic supercharged money-transfer services. Zelle recorded some 1.8 billion transactions in 2021 totaling $490 billion, more than double prepandemic levels.
Crypto firm FTX raised red flags long before collapse: experts
Bitcoin venture investor Marty Bent of Ten31 saw red flags with the FTX cryptocurrency exchange long before its historic collapse under founder Sam Bankman-Fried.
Crypto exchange Binance plans to buy rival FTX
Crypto exchange Binance said Tuesday it plans to purchase rival FTX, which acknowledged it is experiencing a "liquidity crunch" and asked for the deal.
Stripe slashes 14% of workforce
Stripe's cuts will reduce its headcount to a total of almost 7,000 people and impact multiple divisions. Recruiting will be heavily impacted as the financial services giant plans to hire fewer people next year.
Bank of England makes biggest interest rate hike in 30 years
The bank boosted its key rate by three-quarters of a percentage point Thursday, to 3%, after consumer price inflation returned to a 40-year high in September.
Accounting errors to cost executives their bonuses under SEC rule
The SEC passed a rule required by the Dodd-Frank Act to force public companies whose financial statements contain errors to recoup their executives’ bonuses and other incentive pay.
Chipmaker UMC cuts capex in readiness for prolonged downturn
Chipmaker from Taiwan, UMC, has cut CapEx as it worries about a global economic recession, lead by energy insecurity, the war in Ukraine, and inflation.
Bank of America profit drops on loan-loss reserve build
The second-largest U.S. bank, led by Brian Moynihan, earned 81 cents a share vs. analysts' expectations of 77 cents per share in the third quarter of the year.
JPMorgan profit down 17% as dealmaking slumps
The bank set aside $808 million in reserves, as the U.S. Federal Reserve's efforts to cool the economy through interest rate hikes have stoked fears of an economic downturn.
Credit Suisse to buy back $3B in debt, sell Hotel Savoy
The Swiss bank's debt buyback plans come in an effort to calm market jitters related to its financial health. Credit Suisse shares jumped more than 10% on Friday.
Market turbulence, inflation, geopolitical uncertainty prompt dip in fintech investment: KPMG
Global fintech investment fell from $111.2 billion in the second half of 2021 to $107.8 billion in the first half of 2022, according to KPMG's Pulse of Fintech report
Janet Yellen says economic recovery hinges on supply chain, green agenda and end of Ukraine war
Treasury Secretary Janet Yellen sees inflation coming under control next year due to a variety of factors. Those factors include investments in clean energy.