MINNEAPOLIS – Feb. 24, 2021 – As Americans continue to grapple with many aspects of COVID-19, the vast majority believe…
Read more—Shares fell Wednesday in Asia as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies, despite reassurances from the chair of the Federal Reserve. Tokyo's Nikkei 225 shed 1.6% to 29,671.70. Hong Kong's government announced pandemic relief measures worth $15.4 billion to help the…
Black-owned businesses have been shuttered at a higher rate during the pandemic. AP Photo/ Mark Lennihan. The pandemic has taken a heavy toll on Main Street, with small businesses across the U.S. closing by the thousands. It comes on the back of a report by the Federal Reserve of Cleveland that suggested that the impact of the coronavirus could be over two times…
New York, February 23, 2021 – Wealthspire Advisors unveiled today a suite of impact investing solutions for clients seeking to…
Caring.com, a leading senior living referral service and the nation's top site for senior care reviews, has published a comprehensive report from its annual Wills and Estate Planning Study. The 2021 study highlights the pandemic's impact on estate planning and the shift in attitudes among specific groups. “In comparison to previous years, the 2021 study…
Forty- eight percent of retirees with retirement accounts say that their savings have not recovered pre-pandemic levels, according to a new survey by The Senior Citizens League. “There's no doubt about it, the Coronavirus- caused recession is forcing many older adults to rethink retirement plans,” says Mary Johnson, Social Security and Medicare policy analyst…
Women are bearing a tremendous financial burden during the pandemic, primarily because of leaving the workforce, by choice or by force. The Associated Press spoke with Suze Orman, personal finance expert and author of the podcast Women& Money, about how women can survive and emerge from this period. Responses were edited for length and clarity.
The recent GameStop frenzy provided what parents and educators call a teachable moment— an opportunity that presents itself to lend a little insight. So what is the best way for parents to teach kids about investing, particularly when the market behaves oddly?
Former White House National Economic Council Director, Larry Kudlow, is joining The Bahnsen Group, a $2.6 billion national wealth management firm with offices in New York City and Newport Beach, Calif., as an economic advisor.
—Global stock markets and U.S. futures were mostly higher Friday after disappointing American jobs and economic data. London and Frankfurt rose in early trading while Shanghai, Hong Kong and Seoul closed higher. In early trading, the FTSE 100 in London was up less than 0.1% at 6,621.20 while Germany's DAX gained 0.2% to 13,912.29.
Keith Gill went from YouTube and Reddit fame as the investor who helped inspire the runup in GameStop stock to a star witness in a congressional hearing this morning. And he did it all from his big, red gamer chair.
Feb. 18— Elizabeth Warren wants President Biden to follow in former President Donald Trump's footsteps— in canceling student loan debt. The Massachusetts senator called on her constituents to “send a note to President Biden” to wipe out $50,000 per borrower during a virtual town hall on Tuesday. Biden rejected calls to erase up to $50,000 in federal student loan…
Bernie Sanders and Elizabeth Warren. It's enormously expensive– the version sponsored by Warren and Senate Majority Leader Chuck Schumer to waive up to $50,000 in student loan debt per person– would cost upwards of $1 trillion. It's unclear if the narrow Democratic Senate majority would approve anything like the Warren-Schumer plan, or even President Joe…
Feb. 17— Billionaire investor Warren Buffett and his Berkshire Hathaway business sold its entire $800 million stake in M&T Bank Corp. in recent months, eliminating an investment it had held since 1991.. It came about a year after Berkshire sold its other Buffalo- based holding, The Buffalo News, along with other newspapers to Lee Enterprises.
DENVER—Nearly seven in 10 U.S. adults (68 percent) say they experienced unexpected financial setbacks in 2020, according to a survey…
“My sense is that the regulation has evolved to such an extent that many people think it should be part of the portfolio,” says Rick Rieder, chief investment officer of global fixed income at BlackRock.
Consumer priorities have changed significantly as a result of the COVID-19 pandemic, with nearly half (45%) of consumers surveyed planning to save more and those most impacted financially seeking to mitigate future financial uncertainty.
Laura Klauser sometimes finds herself looking at home listings online and can’ t help but laugh. Up from 12% a year ago, 18% of U.S. renters ages 24 to 39 said they expect they will always rent, and 74% of those renters said it’ s because they cannot afford to buy a home. “I don’ t want to be financially tied to something, just in case,” said South Shore resident Kelly Williams, 36.“…
—Amy Cooper, the white woman arrested last year for calling 911 on a Black birdwatcher in New York’ s Central Park, had her criminal case thrown out Tuesday after completing a diversionary counseling program that prosecutors said was meant to educate her on the harm of her actions. There is no relation between Christian Cooper and Amy Cooper.
BitIRA– pioneer of the first insured cold storage solution for cryptocurrency retirement accounts– has engaged a panel of London insurance companies to offer dollar-for-dollar insurance on customers' digital currencies. In several cases, $0 insurance $100 million $50 million. When presented with these figures, Warner was quick to point out that even a $100…
Gig work – Uber driving, Instacart shopping, Amazon Flex delivery and so on – is on-demand, freelance work that’s typically taxed as self-employment. Instead of having an employer withhold money from your paycheck, you’re an independent contractor who is expected to pay taxes on your gig income as you earn it.
Being asked to be an executor is an honor you might want to pass up. Settling an estate typically involves tracking down and appraising assets, paying bills and creditors, filing final tax returns and distributing whatever’ s left to the heirs. Robert Braglia of New York, a certified financial planner, was executor of an estate where the woman disowned three of her…
The recent round of $600 stimulus checks was intended to help fuel the economy through consumer spending and discretionary spending. But many Americans who qualified for the second round of stimulus checks are using – or plan to use – the money for savings, to pay down debt or to handle everyday expenses.
KING OF PRUSSIA, PA – February 11, 2020 – George Nichols III, President and CEO at The American College of…
Radnor, Pa., Feb. 9, 2021 – The pandemic continues to create financial challenges for all Americans, but research from Lincoln…
Nearly three-quarters (70%) of Americans are considering adding another source of income after witnessing the economic damage caused by the COVID-19 pandemic, according to a survey released today from the National Association of Personal Financial Advisors (NAPFA).
Another wobbly day on Wall Street ended with the major stock indexes mostly lower, though the Dow Jones Industrial Average inched up to another all-time high. Treasury yields fell after a government report showed that inflation remained tame last month. The Labor Department said Wednesday that U.S. consumer prices rose 0.3% in January, led by a surge in energy.
WASHINGTON— If you have been following the news about the meteoric rise of GameStop stock shares, you may think investing is exciting— a chance for anyone and everyone to make fast money. What has followed are tales of regular investors scoring big on the rising price of GameStop stocks. In gambling parlance, the GameStop windfall is something closer to…
DENVER (February 10, 2021) – The COVID-19 pandemic made the delivery of in-person pro bono financial planning services difficult in…
—Global stock markets and U.S. futures rose Wednesday after Wall Street broke a six-day winning streak. London and Frankfurt opened higher, while Shanghai, Tokyo and Hong Kong also advanced. On Tuesday, Wall Street's benchmark S&P 500 index ended down 0.1% as investors watched Washington, where President Joe Biden’ s Democrats planned to move ahead without…
HARTFORD, CT – February 9, 2021 – According to Conning, high dividend equity strategies can serve institutional investors in this…
Fewer consumers report consulting financial professionals in 2020 vs. 2019, according to research from Hearts & Wallets. Bank and insurance reps show the biggest decline, a 10-point drop, in consumers turning to them as sources for investment information and advice.
Hope Enterprise Corporation, which runs a Jackson, Mississippi- based credit union that specializes in lending and other financial services to underserved communities in the Deep South, is partnering with seven cities and nine historically Black colleges and universities to launch the“ Deep South Economic Mobility Collaborative. “Goldman Sachs 10,000…
By the end of last week, you could buy a share of GameStop— successor to Philadelphia’ s old Electronics Boutique digital-games store chain— for $64, a fat discount from the $300- plus you would have needed on Jan. 27. Alexandria Ocasio Cortez, D- N.Y., were bashing“ Wall Street” and demanding the federal government investigate why small investors weren’ t all able to buy…
–In the fourth quarter of 2020, the WCI fell by 17.0 points to 97.2 from last year, the largest year-over-year decrease since the inception of the study in 2014. The index, a survey of U.S. workers from HRO Today Magazine and Yoh, the leading international talent and outsourcing company owned by Day& Zimmermann, gauges full-time workers’ perceptions of the four key…
The Legacy IRA Act gives middle-income seniors more flexibility to make gifts to charities through their individual retirement accounts (IRAs). It would expand the IRA Charitable Rollover by enabling seniors age 65 and over to give up to $400,000 annually tax free to an annuity held by the charity of their choice.
IRS Gig Economy Tax Center: https://www.irs.gov/businesses/gig-economy-tax-center ” target=”– blank “> https://www.irs.gov/businesses/gig-economy-tax-center. But that simple act makes you a small business in the eyes of the IRS. “Basically, you're considered an independent contractor,” says Garrett Watson, a senior policy analyst with the Tax Foundation, a…
A singular crisis has led to extraordinary relief options for borrowers. Still, many Americans say they took on more debt last year because of the pandemic, according to NerdWallet's household debt survey. President Joe Biden extended federal student loan forbearance until October and during his campaign proposed canceling $10,000 in federal student loan…
A singular crisis has led to extraordinary relief options for borrowers. Still, many Americans say they took on more debt last year because of the pandemic, according to NerdWallet's household debt survey. President Joe Biden extended federal student loan forbearance until October and during his campaign proposed canceling $10,000 in federal student loan…
In the midst of a raging COVID-19 pandemic, with millions of Americans still out of work and facing the possibility of eviction and foreclosure, the United States is experiencing a real estate boom the likes of which it hasn't seen in 15 years. From Augusta, Maine, to Phoenix and from Sarasota, Florida, to Aberdeen, Washington, prices are up by double digits.
Treasury Secretary Janet Yellen will meet with top government fiscal experts to examine the impact on U.S. markets stemming from the GameStop stock frenzy that took share prices for a ride on Wall Street last week. A Treasury official said the meeting, which could happen as soon as Thursday, will include Yellen and leadership of the Securities and Exchange Commission.
Maybe it is because I am watching more television these days due to the COVID surge, and feel like I am seeing more cash-back commercials, because I can hear Kevin Hart in my sleep yelling about Chase Freedom cash back credit cards— or because Samuel Jackson, who can be pretty scary, keeps telling me I need a Capital One cash back card— but I feel like we need to revisit…
Japan's Nikkei 225 slipped 1.0% to 28,360.42, while South Korea's Kospi dropped 1.4% to 3,086.72. Also on market players’ minds is the global vaccine rollout, which is becoming more organized in the U.S., but has yet to play out in much of Asia, except for China, where the pandemic started. “As the rally waned for the U.S. market, Asia markets can be seen left to their own…
_ MetLife Inc. on Wednesday reported fourth-quarter profit of $124 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share. This story was generated by Automated Insights using data from Zacks Investment Research.
The Super Bowl Indicator suggests stocks rise for the full year when the Super Bowl winner has come from the original National Football League (now the NFC), but when an original American Football League (now the AFC) team has won, stocks fall. What does that mean for Sunday’s game?
—Now, even the pros on Wall Street are asking if the stock market has shot too high. But Wall Street kept justifying the gains by pointing to massive support from the Federal Reserve, lifesaving deliverance from COVID-19 vaccines and efforts by Congress to pump more stimulus into the economy.
Markets rose in Paris, London, Tokyo and Hong Kong but shares fell in Shanghai. With Democrats and Republicans remaining far apart on support for President Joe Biden's $1.9 trillion stimulus package, investors are betting that the administration will opt for a reconciliation process to get the legislation through Congress. “Positive earnings reports as well…
Spotlight PA is an independent, nonpartisan newsroom powered by The Philadelphia Inquirer in partnership with PennLive/The Patriot-News, TribLIVE/Pittsburgh Tribune-Review, and WITF Public Media. Sign up for our free newsletters. Sandra Huffman was cleaning St. Luke's hospital in Quakertown, gloved and maskless, when she got sick last March.
Operating cash flow increased 72% to $66.1 billion for the trailing twelve months, compared with $38.5 billion for the trailing twelve months ended December 31, 2019. Free cash flow increased to $31.0 billion for the trailing twelve months, compared with $25.8 billion for the trailing twelve months ended December 31, 2019.
A new research report reveals that while nearly half of mid-size bank and credit union executives are more optimistic about 2021 relative to 2020, they remain especially concerned about the interest rate environment and a weak economy.
—Asian stocks followed Wall Street higher Tuesday after President Joe Biden invited Republicans to a meeting to discuss economic aid, while silver eased off an eight-year high. Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul all advanced. In Washington, Biden invited 10 moderate Republicans to the White House to discuss his proposed $1.9 trillion…
Since the inception of HEMAP, over 50,000 Pennsylvania families have been helped by this program to avoid foreclosure. For all the payments that have been disbursed to these families, PHFA has recovered $328 million through loan repayments. Since the beginning of the pandemic, policymakers who govern the collection of mortgage payments, whether they were…
—Companies that are part of HNA Group, a Chinese conglomerate that says creditors want it declared bankrupt after a global acquisition spree, want to recover as much as $15 billion that might have been paid out improperly to major shareholders. HNA, founded in 1993 as Hainan Airlines with one plane, was among companies including Anbang Insurance, Wanda Group and…
It's a fable for our times: Smalltime investors band together to take down greedy Wall Street hedge funds using the stock of a troubled video-game store. And the same tools that empower the little guy- allowing people to organize quickly and seemingly out of nowhere, troll powerful institutions and unleash chaos- can also give rise to extremist mobs waging…
Minnesota companies attracted a record $1.86 billion in venture capital in 2020, up from $1.27 billion in 2019, in a year that also set a national record for investments in young growth companies, according to PitchBook and the National Venture Capital Association. “Last year Minnesota ranked 12th among states, a level achieved only once over the past 25 years,”…
WASHINGTON- They've endured a financial crisis. Nearly a decade after the Occupy protest movement left Wall Street more or less unscathed, the citadel of financial might faces a new assault. Day traders, mobilized on a Reddit chatroom, have poured about all the money they can find into the stocks of a struggling video game retailer called GameStop and a few other…
Four years ago, voters supported a red sweep, handing both houses of Congress and the presidency to Republicans. Suddenly, energy stocks moved out of the regulatory cross hairs and the U.S. became energy independent. Now, energy regulations already have been tightened as the result of a blue sweep of Congress and the election of Joe Biden to the presidency.
The resurgence came after brokers, notably upstart Robinhood, reversed course and allowed buys of GameStop and other heavily shorted shares to restart on Friday. It was such individual players conversing on Reddit who banded together to drive up shares of GameStop and other firms in a bid to hurt big investors who were betting on their decline.
While Financial Advisor Robert Donlan recommends investors steer clear of GameStop and other stocks like it, economics professor Dr. GameStop has made headlines all week. “Basically, you're hoping it goes down,” Donlan, of Donlan and Barcomb Investment Services, explained.
When it shorts a stock, it must borrow the stock from someone else and sell it. Its goal is then to buy it back at a lower price in the future and return it to whoever it borrowed from. Now, the universe of investable stocks is not infinite. There may be 3,000 or so stocks that are big enough for hedge funds to really invest in.
