Financial services

Crypto hedge fund Three Arrows files for US bankruptcy

Crypto hedge fund Three Arrows Capital has filed for bankruptcy under Chapter 15 of the US Bankruptcy Code, according to a court filing in the Southern District of New York on Friday. Three Arrows Capital is one of the biggest casualties of the latest so-called “crypto winter”. The digital asset ecosystem has been hit by …

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Weekend reads: What’s ahead for the stock market after that brutal first half of 2022

The first half of 2022 marked a big change for investors and consumers, as inflation reared its ugly head. It was the worst start of the year for US stocks since 1970. William Watts looks back at previous first-half bear markets and you might be surprised to see what happened afterward — every time. Meanwhile, …

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‘It could be the difference between an approval and denial’: Experian, Equifax and TransUnion remove fully-paid medical debt from credit reports on July 1. Will this help your credit score?

Paid medical debt is rolling off consumer credit reports in an overhaul that the credit bureaus say will improve people’s financial wellbeing. In a time of rising interest rates and increased costs with the pandemic’s scariest days hopefully done, for some it can’t come a moment too soon. Equifax, Experian and TransUnion are dropping the …

‘It could be the difference between an approval and denial’: Experian, Equifax and TransUnion remove fully-paid medical debt from credit reports on July 1. Will this help your credit score? Read More »

Bobby Bonilla Day: Here are other retired players who get huge annual payments

“Bobby Bonilla Day” was trending on Twitter on Friday as it does every year on July 1. That’s because it marks the annual date when the former New York Mets player receives $1.2 million from the team, despite being retired for over a decade. Bonilla’s agent, Dennis Gilbert, orchestrated a contract payout for the third …

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These 10 stocks in the S&P 500 have lost $4.1 trillion of investors’ money during the first half of 2022

The first half of 2022 is over today, and good riddance for investors: The S&P 500 Index has declined 21.4%. Below are two lists of the worst-performing stocks in the S&P 500 SPX this year. First, here are the 10 companies whose market capitalizations have dropped the most during 2022, based on early trading on …

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Raging US inflation is starting to cool, key price gauge signals

The numbers: A key gauge of US inflation rose 0.6% in May largely due to the higher cost of gas and food, but there were renewed signs that price pressures were starting to ease. The increase in the so-called personal-consumption price index was triple the 0.2% gain in April. But a narrower measure of inflation …

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Institutional investors have bought hundreds of thousands of homes, many in Black communities. Critics say it’s creating a ‘generation of renters’

Democratic lawmakers are scrutinizing whether the American dream of a suburban home and white picket fence is being seized upon by large institutional investors, costing working people a shot at property ownership. The House Financial Services Subcommittee on Oversight and Investigations held the virtual panel Tuesday, titled “Where Have All the Houses Gone? Private Equity, …

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Goldman, Wells Fargo lead dividend buffet after Fed stress test

Six of the US’s largest banks said they have enough capital to either maintain or hike their dividends to shareholders after setting enough aside to handle the most extreme economic conditions expected in the coming year. Wells Fargo & Co. WFC, -0.15% and Goldman Sachs Group Inc. GS, -0.43% both increased their payouts by 20%, …

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One of the most prominent names in crypto defaulted on $47 million USDC debt, Coinflex says

Crypto exchange CoinFlex’s chief executive Mark Lamb said Tuesday that it issued a notice of default to Roger Ver, an early crypto investor and founder of Bitcoin.com, alleging that Ver failed to meet a margin call and owes the exchange $47 million USDC. Lamb made the comments on Twitter after Ver tweeted Tuesday rumors that …

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How long will stocks stay in a bear market? It hinges on if a recession hits, says Wells Fargo Institute

When the S&P 500 officially dropped into a bear market on June 13, closing down more than 20% from its last peak, it stirred debate about whether investors should hold tight or think about buying the dip. Battered stock prices SPX, -2.01% might look tempting for investors, but analysts at the Wells Fargo Investment Institute …

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