Credit Suisse tries to calm market jitters

Listen to article (2 minutes) Swiss credit According to acquaintances, Group AG tried to allay fears for his health this weekend in a memo to employees and in a round of phone calls to investors and customers. Shares of Credit Suisse are down 21% this month and spreads on its credit default swaps, a type … Read more

Opinion: Reverse mortgages are usually misunderstood – they can offer seniors a lifeline if markets fall

If they own stocks or bonds, they may not want to sell while both markets crash at the same time. Or they’re out of options altogether and their home is their only valuable resource left. That’s when a home equity conversion mortgage comes into play. Most people think of reverse mortgages, as they’re commonly called, … Read more

UK PM defends tax cuts as market turmoil continues

LONDON—Prime Minister Liz Truss tried to reassure the British public and got investors thinking that its tax cut plan would not lead to long-term financial instability, arguing in a series of interviews on Thursday that the country had been ravaged by global shocks rather than by the reforms of its government and that its policies … Read more

Crypto Fugitive Do Kwon’s Firm Accuses Korean Prosecutors of Overreach

The company behind failed cryptocurrencies TerraUSD and Luna accused South Korean prosecutors of exceeding their authority two weeks after issuing a warrant for the chief executive’s arrest. Do Kwon. Terraform Labs Pte. Ltd. Kwon’s defense has set out in a statement sent to The Wall Street Journal on Wednesday. A spokesperson for the Singapore-based company … Read more

Fannie Mae launches pilot program to include timely rent payments in credit reports. Here’s why this can be a game changer for renters.

When renters pay their rent on time, it largely doesn’t improve their credit scores, while homeowners reap the benefits of better credit by making their mortgage payments. That lopsided situation is beginning to shift in favor of the tenants. Fannie Mae FNMA, +1.16%, the government-backed mortgage giant, announced Tuesday it is launching a pilot program … Read more

Wall Street Must Pay $1.8 Billion in Fines for Traders’ Use of Banned Messaging Apps

WASHINGTON — Eleven of the world’s largest banks and brokerages will collectively pay $1.8 billion in fines to resolve regulatory investigations into their employees’ use of messaging applications that violate record-keeping rules, regulators said Tuesday. The companies include brokerage units from bank of America Barclays Citigroup Inc., Credit Suisse Group German Bank Goldman Sachs Group … Read more

Global bonds are in first bear market in 76 years on two centuries of data, says Deutsche Bank

It’s been a terrible year for the financial markets and perhaps even more so when you weigh 2022 against more than two centuries of data. Global bonds are now in their first bear market in 76 years, having fallen 20% from their peaks, according to Deutsche Bank research from 1786. The last time global bonds … Read more

When It Pays To Have A Retirement Mortgage — And When It Doesn’t?

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Netflix’s ‘Get Smart With Money’ Brings Personal Finance To Reality TV

Font size U.S. households are known for being financially vulnerable, with 36% in 2020 saying they would struggle to cover a $400 emergency expense. A recent survey by PYMNTS and LendingClub found that 61% of Americans live paycheck to paycheck, including 36% of consumers who make $250,000 or more a year. There’s plenty of debt … Read more

Oil falls below $80 a barrel

Listen to article (2 minutes) US oil prices fell below $80 a barrel for the first time since January, swept by mounting fears of a global recession and a rapidly strengthening US dollar. West Texas Intermediate crude oil futures fell 5.7% to close at $78.74. The main oil price in the US is down about … Read more