Miami, Feb 1- The octogenarian president of a Florida commercial lending company, accused along with others of orchestrating a $250 million nationwide investor fraud scheme, was sentenced to five years in prison, the U.S. Attorney's Office for the Southern District of Florida said Thursday. Carl R. Ruderman, 82, former president of 1 Global Capital, a "payday"…
Listen to the article 4 min. –Medicare Advantage is still growing, but the popular– and lucrative– privately run insurance offering could be becoming less profitable for payers, according to a report by Moody's Investors Service.– Insurers' earnings from MA were 2% lower in 2022 compared with 2019, despite membership gains and premium growth, the credit rating…
In this way, the United States escaped recession in 2023, a scenario frequently outlined as a possibility by economists and consulting firms, in the context of the high interest rates set by the Federal Reserve to contain inflation. Biden will most likely face former Republican President Donald Trump, who has among his campaign arguments the good health of the…
U.S. financial authorities warned about the increase in investment frauds that supposedly involve artificial intelligence. The Securities and Exchange Commission's Office of Investor Education and Assistance, the North American Securities Administrators Association and the Financial Industry Regulatory Authority also called on users to…
America’s aging population faces a grim reality as Social Security trust funds teeter on the brink of depletion. Fund reserves for Social Security and Medicare will be exhausted by 2034, posing challenges to maintaining benefits for current and future beneficiaries. Retiree Financial Crisis on the Horizon Image Credit: Shutterstock / SasaStock The situation presents a dire…
Billionaire hedge fund manager Bill Ackmann predicted the Federal Reserve could cut interest rates more than three times this year, and that should start very soon. So I think they're going to have to move early,' Ackman, CEO of hedge fund Pershing Square, said during an interview on CNBC Squawk Box on Friday. Federal Reserve: projections for future cuts.
Employers are facing stronger legal requirements to ensure they aren't wasting their workers' money on overpriced health insurance, at the growing risk of financial consequences.But employers say secrecy around negotiated health care prices too often prevents them from accessing data that would help them figure out if they're getting a good deal.Why it matters: Federal rules push…
This is due to the fact that locally, since the end of 2023, the Central Reserve Bank of Peru started a downward trend in its reference interest rate. Lower interest rates generate an appreciation in the value of bonds, explained Carlos Reaño, Senior Investment Advisor at Renta4 SAB. Carlos Reaño estimates that in a scenario of low political risk in Peru, with a…
Byline: Jessica Menton, Elena Popina and Ishika Mookerjee Bloomberg. A wild 2023 for the U.S. stock market is drawing to a close, and investors are full of optimism for 2024 as the S&P 500 Index sits within striking distance of its first all-time high in nearly two years. With the Federal Reserve signaling that itâs likely done raising interest rates to tame…
Data: Federal Reserve; Chart: Axios VisualsThe wealthiest 10% of U.S. households now own nearly 93% of the stock market. Why it matters: This stat — which we first spotted in the FT — is a crucial bit of context to keep in mind amid the heavily hyped surge of smaller retail investors who flocked to the stock market during and after the COVID crisis.Details: While it's true that…
Most U.S. Federal Reserve officials want to keep borrowing costs high "for some time," raising doubts that the central bank will begin cutting interest rates in March.According to the minutes of their December meeting, which were released yesterday, officials expressed growing optimism that the Fed is succeeding in its attempt to quell inflation, but were wary…
Eleven states and Washington, D.C., together provide full health insurance coverage to more than 1 million low-income immigrants regardless of their legal status, according to state data compiled by KFF Health News. (Getty Images)A growing number of states are opening taxpayer-funded health insurance programs to immigrants, including those living in the U.S. without authorization,…
Kree Flowers had recently gotten married and decided to log into her account on the Social Security Administration's website in February to check on the status of her retirement benefits. She was shocked to see a big red number at the top of the page. According to the agency, she had been overpaid by $17,121.21.
Editor’ s Note: This story is part of our Mixed Signals: 2024 Economic Forecast for Texas. Utility and insurance rates will likely make another upward jump again in 2024 thanks to the historical winter storm that pulverized Texas nearly three years ago and the state’ s volatile climate patterns. This makes Texas one of the states with the greatest increase in that…
The pattern drawn by joining Treasury yields with a line in time progression has been on a downward trajectory since 2022, when the Federal Reserve, the US central bank, began raising interest rates sharply to control inflation. The line took the same shape in other yield curves, such as that of Germany with bunds, the most observed on this side of the Atlantic.
In an unprecedented economic context, retirement is an issue that worries Spaniards. According to the Bank of Spain, aging will cut the activity rate by up to 3.7 points in 2030 in our country, and it assures that this could weigh down the economy. Recently, the Bank of Spain published a study in which it stated that only 19% of Spaniards are able to correctly answer…
Financial markets will "take off" once investors are confident that the Federal Reserve is done raising interest rates, outgoing Morgan Stanley CEO James Gorman predicted, offering an optimistic outlook for his successor. In a wide-ranging interview with the Financial Times days before handing over as CEO to Morgan Stanley co-chairman Ted Pick, Gorman also…
Responding to consumer complaints about auto insurance coverage, the state insurance commissioner said Thursday that insurers could face penalties for creating unlawful barriers for California drivers. The bulletin also reminded companies that they must offer coverage to all motorists in California who meet the state's legal definition of "Good…
As a group, these older baby boomers have accumulated more than $14 trillion in additional net worth since the end 2019, based on Federal Reserve data. The share of adults age 65 and more in the labor force reached a historic low of 10% in the mid-1980s but has since almost doubled, according to Bureau of Labor Statistics data, even after many retired early at the…
