A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. CNN — Moody’s downgraded 10 US banks Monday night and put the credit ratings of six others under … Read more
A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. CNN — Stocks and consumer sentiment are rising in tandem after falling last year, another sign of growing … Read more
Hong Kong CNN — For international travelers, visiting China is now much easier. From Friday, Visitors can link their Visa (V) and Mastercard (MA) accounts to China’s most popular mobile payment platforms, allowing them to book taxis, ride the subway and pay for goods and services at millions of outlets across the nearly cashless country. … Read more
Hong Kong CNN — Ant Group has announced a $78.5 billion share buyback, down about $230 billion, or 75%, from the valuation it reached almost three years ago before its IPO was blocked by Chinese regulators became. The company was co-founded by Jack Ma, as was e-commerce giant Alibaba Group (BABA). Ant and Alibaba’s combined … Read more
new York CNN — When the Federal Reserve launched its rate hike campaign in March last year, the housing market reacted predictably – mortgage rates rose, which eventually caused house prices to fall. But after ten rate hikes, the real estate market – traditionally one of the most interest-rate sensitive parts of the economy – … Read more
London CNN — Financial difficulties at the company, which supplies water to more than a fifth of Britain’s population, have raised concerns about the dire state of an industry that provides a resource people cannot live without. The problems are most acute at Thames Water, the London water company, but the entire industry in England … Read more
CNN — It’s age-old questions: How much does it take to feel financially secure? How much would you need to feel rich? According to a new Bankrate survey, more than 2,500 US adults said they needed to earn an average of $233,000 a year to feel financially secure and $483,000 a year to feel wealthy … Read more
new York CNN — Home contents insurance is becoming more and more expensive and difficult to find in many places. There are no signs that the situation will improve any time soon. The culprits: climate change, rising costs for conversions or repairs and a sharp increase in premiums from reinsurance companies, which insurers use to … Read more
A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. new York CNN — The stock market has made incredible strides since its downturn last year — so … Read more
new York CNN — The average balance of employer-sponsored savings plans last year was $112,572, well below the $141,542 in 2021. That’s according to the latest annual report, How America Saves, from investment firm Vanguard, which acts as bookkeeper for defined contribution plans that collectively have nearly 5 million participants with an average age of … Read more