Arthur Cashin, the esteemed director of floor operations at the New York Stock Exchange (NYSE), was a prominent figure in the financial world for many years. His presence was a comforting constant for those navigating the tumultuous waters of Wall Street. Known not only for his exceptional insight into the market but also for his
Global Finance
In an evolving landscape of corporate compliance and regulation, the recent suspension of the enforcement deadline for beneficial ownership information (BOI) reporting presents a complex legal scenario for small business owners. The latest developments surrounding the Corporate Transparency Act and its reporting requirements have caused significant uncertainty among countless entrepreneurs, forcing them to navigate a
As retirement planning gains importance in the financial landscape, employers are increasingly recognizing the value of offering diverse savings options. The Roth 401(k) is becoming a prominent choice, with approximately 93% of 401(k) plans now incorporating this option as of 2023. This trend signifies a substantial leap from just 62% a decade ago, based on
The economic landscape has taken a turn that leaves many individuals grappling with the implications of the Federal Reserve’s recent decisions. As the central bank indicates a slower pace of interest rate cuts than anticipated, the dual nature of financing appears more pronounced than ever. While individuals burdened by debt may view these developments with
The recent announcement by the U.S. Treasury Department regarding the extension of the deadline for submitting the Beneficial Ownership Information (BOI) report has sparked significant discussion among small business owners and legal experts alike. Initially slated for a January 1, 2024 deadline, the new date—January 13, 2025—was determined amid growing confusion and legal challenges surrounding
In an unprecedented move that could reshape the landscape of banking regulation, major financial institutions are gearing up to challenge the Federal Reserve’s annual stress tests through legal action. This conflict highlights an ongoing struggle between the banking sector and regulators over the standards and requirements that govern capital buffers, lending capabilities, and overall financial
The U.S. job market has recently experienced profound changes, signaling a notable shift in employment dynamics. This transformation can be traced back to the upheaval caused by the COVID-19 pandemic, which not only altered how people work but also reshaped their attitudes toward employment. Termed the “great resignation,” the period of high turnover in 2021
In 2024, the Federal Reserve made headlines by cutting its interest rate target three times, leading many Americans to wonder if mortgage rates would follow suit. However, the reality is more complex than mere correlations between Fed policies and mortgage pricing. Jordan Jackson, a global market strategist at J.P. Morgan Asset Management, believes that prospective
In a significant legal move, the Consumer Financial Protection Bureau (CFPB) has initiated a lawsuit against the operators of the Zelle payments network, asserting that the platform’s parent company, along with three dominant banks—JPMorgan Chase, Bank of America, and Wells Fargo—have inadequately addressed fraud complaints and failed to reimburse affected customers effectively. This lawsuit emerges
On Wednesday, the financial markets experienced a significant jolt as the CBOE Volatility Index (VIX), often referred to as Wall Street’s fear gauge, surged dramatically by 74%. This spike marked the second-largest percentage increase in the index’s history, closing at 27.62 after beginning the day at around 15. This unexpected movement in the VIX sent
In an era where the self-driving industry faces significant hurdles, TuSimple, an autonomous trucking company, has taken a bold step by rebranding itself as CreateAI. This transformation marks the company’s decisive pivot from self-driving technology to the realms of video games and animation. The timing of this change is particularly curious, coming shortly after General
On Wednesday, UniCredit, Italy’s second largest bank, announced a noteworthy expansion of its stake in Commerzbank, a significant player in the German banking sector. The financial institution revealed that it has raised its potential ownership from 21% to 28%, utilizing a combination of direct shares and derivatives. This incremental investment includes a 9.5% direct stake