Household incomes fell in a third of all states nationwide last year, while just five saw median income levels improve, according US Census Bureau data. Household incomes fell in 17 states, mostly in the upper Midwest, one-year estimates from the American Community Survey found. Michigan, Pennsylvania, and Ohio — widely...
Citi has announced a significant change to its organizational model and its management structure. The move will see Andy Sieg, the firm’s new wealth business leader, take a seat on the executive management team along with the leaders of the firm’s other interconnected businesses. Sieg joins the firm on Sept....
A financial advisor who began her career as a branch office administrator at Edward Jones is returning to the firm in Winchester, Virginia. Julie Wise rejoins the firm after eight years with Wells Fargo Advisors, where she was part of a team managing $300 million in client assets. Wise spent three...
Investcorp’s Jeremy Ghose is a popular man. Ever since the $50 billion firm snapped up alternative-credit manager Marble Point late last year, he’s been juggling calls from bankers and firms pitching similar deals. “People know we’re in acquisition mode and they know we have the ability to write checks,” says...
Bridgewater Associates LP founder Ray Dalio said he doesn’t want to own bonds and prefers cash, highlighting difficulties investors face as global central banks try to manage inflation. “I don’t want to own debt, you know, bonds and those kinds of things,” the billionaire said Thursday at the 10th Milken...
Apple made history as the world’s first $3 trillion company but how have the big cap firms changed over the past 40+ years? A new report from City Index looks back at the top 10 firms by market cap in 2000 and 1980 to highlight how the stock market has...
Al Gore, the former U.S. vice president turned climate crusader, says Big Oil and the banks backing it still have huge financial incentives to stick with fossil fuels, even though their decision to do so is the leading cause of the climate crisis. Bankers “are profiting hugely” from their role...
A.P. Moller-Maersk, is one of the world's biggest container shippers with a market share of around 17%, and is widely seen as a barometer of global trade.Andia | UIG via Getty ImagesCopenhagen, DENMARK — Shipping giant Maersk on Thursday presented its first container vessel moved with green methanol, a...
By Richard McCall, the CEO of Armalytix. In the face of the current cost of living crisis, consumers find themselves grappling with economic challenges unseen since the 2008 financial crisis. One difference from that time is the significant transformation of the personal finance landscape. That is due largely to advancements in...