McDonald’s cuts pay packages, closes offices alongside layoffs across chain
McDonald’s says its brand is strong, but its business has grown increasingly complex in recent years, it hired McKinsey to help streamline it's management structure.
Charles Schwab nets $53B in assets, second highest March in history
In a company announcement on Thursday, Charles Schwab, a financial services and brokerage firm, said it netted $53B in assets in March to reach the second-highest mark in company history.
Jamie Dimon warns banking crisis has raised odds of recession
JPMorgan Chase CEO Jamie Dimon said that turmoil within the banking system has raised the odds that the U.S. economy tumbles into a recession this year.
Investor Bill Miller takes on S&P 500 with new ETF
According to SEC filing, advisers of the Miller Value Partners Appreciation ETF say the fund has an above-average probability to outperform the S&P 500 over a multi-year time horizon.
Dollar bull market to end as Fed tempers rate hikes: strategists
Amid a banking crisis and the hawkish Fed strategy to raise interest rates and cool inflation, the U.S. dollar is predicted to weaken further in 2023.
Banks could begin canceling lines of business credit soon
Small businesses could soon see lines of credit canceled from banks as the global banking crises, inflationary pressures and rising interest rates slow commercial lending.
Final fourth quarter GDP estimate confirms slowdown in economic growth
GDP increased at an annual rate of 2.6% in the fourth quarter of 2022 after rising 3.2% in the third quarter, according to the final estimate from the BEA.
Wall Street bonuses fall 26% on inflation, rising rates
After rising interest rates and fear of a recession mounted in 2022, Wall Street bonuses fell 26%.
Home prices could drop through 2023: Zillow
Home prices and mortgage rates could drop through 2023, according to a survey of economists by Zillow. But economic uncertainty and recession fears remain.
Consumer confidence rebounds amid inflation, bank crisis
A survey from the Conference Board on Tuesday showed the Consumer Confidence Index went up in March, rising to 104.2 from 103.4 in February.
Investors add $117B to money market funds amid banking turmoil
Data compiled by Investment Company Institute shows market fund assets ballooned to $5.13 trillion for the week ending on Wednesday, March 22, amid the banking crisis.
PacWest shares sink despite liquidity lift
Shares are down for PacWest after subsidiary Pacific Western Bank said deposits are stable after receiving 1.4 billion from investment firm Atlas SP Partners.
Home Depot founder shares 'brutal' truth about Fed, urges entire board to resign
Home Depot co-founder and billionaire entrepreneur Ken Langone goes on a rampage over the Federal Reserve's "painful" inflation response, and explains why the board should resign.
A tick-tock of the US banking crisis
The Federal Reserve’s interest rate hike strategy has inadvertently caused a banking crisis as elevated interest rates slow bank loans.
Fed rate hikes will trigger a downturn of greater 'speed and magnitude' than the Great Recession: Economist
The market's bubble has now "burst," and will impact "everything everywhere all at once" in the U.S. economy, economists Stephanie Pomboy and Art Laffer argue.
Gold rush still on for 2023, precious metals outperforming market last 6 months
Amid inflationary pressures and a weakened U.S. dollar, experts predict Wall Street will gravitate towards material wealth in precious metals like gold and silver, sending both to record highs in 2023.
Recession fears rise: More than half of Americans say they'd lose everything
More than half of Americans fear a recession is coming in 2023. Here’s how to manage your finances in any economy.
Americans may deplete more than half their pandemic era savings by end of 2023: Goldman Sachs
Americans amassed major savings during the height of the pandemic, but they may deplete more than half of it by the end of 2023, a Goldman Sachs estimate forecasted.
Billionaire Bill Ackman on SVB collapse: Government has 48 hours to fix 'irreversible mistake'
Billionaire investor Bill Ackman said that the U.S. government needs to take serious action to prevent the financial ruin of other banks amid the failure of Silicon Valley Bank.
Half of Americans say they're financially worse than last year: survey
Half of Americans say they are worse off financially than they were a year ago, according to a new poll. Here’s how to manage your budget in any economy.