Cybersecurity is a growing concern in all areas of life. Businesses and political entities were put on high alert when the SolarWinds hack took place back in 2019. Individuals have also suffered from countless numbers of data breaches in recent years, including big-wig names like Yahoo and Target. Even the rise of supposedly safe cryptocurrency…
Fed Rate Hike Could Be Half-Point If Needed, Says Raphael Bostic: FT
The Federal Reserve could supersize an interest rate increase to half a percentage point if inflation remains stubbornly high, Atlanta Fed President Raphael Bostic told the Financial Times in an interview. Bostic stuck to his call for three quarter-point interest rate increases in 2022, with the first in March, but a more aggressive approach was…
Hong Kong’s Financial Sector Faces Talent Crunch as Expats Head for the Exit
HONG KONG—Late last year, Tania Sibree quit her well-paid job as a financial services lawyer in Hong Kong and returned to Australia rather than live a moment longer with the city’s strict coronavirus restrictions. Sibree, who said she had enjoyed the previous five years in Hong Kong, is one of hundreds—possibly thousands—of foreign expatriate professionals…
Don’t Fight the Fed
January 20, 2022
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Commentary Don’t Fight The Fed. That mantra has remained a call to arms of the financial markets and the bullish media over the last decade. Armed with its zero interest rate policy and the most aggressive monetary campaign in history, investors elevated the financial markets to heights only rarely seen in human history. Yet, despite…
Americans Are Doing “Very Well” When Saving for Retirement
Is retirement saving reaching a crisis? Doomsayers would have you believe so. So let’s look at the facts closely and thoroughly. We are not facing a retirement crisis right now. The recent study claims that “painting an image of a catastrophe is false and leads to unwarranted government action.” According to the survey, less than…
Digital Pound Could Hit Financial Stability and Erode Privacy, UK Lawmakers Warn
LONDON—A digital pound used by consumers could harm financial stability, raise the cost of credit and erode privacy, though a version for wholesale use in the financial sector demands greater appraisal, British lawmakers said on Thursday. Britain’s central bank and finance ministry said in November they would hold a consultation this year on whether to…
Wall Street Investors Find New Opportunities in China as CCP Infighting Spreads to Financial Sector
December 9, 2021
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News Analysis Investment giants of Wall Street, although with some uncertainty over China’s complex and unstable policies, are lining up to enter the Chinese market with full control over their companies. The move comes as Chinese leader Xi Jinping uproots the status quo for local financial markets in an attempt to squeeze out a rival…
JPMorgan Named Most Important Bank to Health of Financial System
November 23, 2021
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LONDON—JPMorgan Chase has once again been named the world’s most important bank to the health of the wider financial system, according to the latest annual ranking of top lenders by global regulators. The Financial Stability Board (FSB), made up of regulators from G20 countries, published its latest table of the world’s 30 most systemic banks…
Closing Pennsylvania Hospital Gives 293 Employees Layoff Notice
November 3, 2021
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Tower Health, a regional Pennsylvania health care system, issued a Worker Adjustment and Retraining Notification (WARN) notice this week in anticipation of closing one of its hospitals. It is one of many financial moves the system is making. “Early in the pandemic, the government mandated the shutdown of all nonessential health care services,” Richard Wells,…
Emerging Market ‘Cryptoization’ Threatens Financial Stability: IMF
October 7, 2021
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LONDON—The advent of digital currencies in emerging markets could spark “cryptoization” of local economies, potentially undermining exchange and capital controls and upsetting financial stability, the International Monetary Fund said on Friday. Bitcoin and its kin have in the last year soared in price and popularity, with emerging and developing market economies such as Vietnam, India,…
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