Banking-as-a-service startup Synapse confirmed today that it has laid off 86 people, or about 40% of the company. The San Francisco-based company, which operates a platform enabling banks and fintech companies to easily develop financial services, has been open about past layoffs. In June, CEO Sankaet Pathak wrote in a...
Lucy Chua and John Byrnes didn’t just lose their Finra arbitration claim against several financial firms and advisors for allegedly fraudulent sales of private corporate bonds — they’re on the hook for more than $2 million in attorneys’ fees and costs incurred by the winning side. Chua and Byrnes are...
Companies based in the U.S. are on track to halve the amount of ESG-labeled debt they issue this year, marking a clear departure from the trend on the other side of the Atlantic, according to an analysis by Goldman Sachs Group Inc. The U.S. slump reflects the different regulatory set-ups...
There’s a difference in the investing world between thinking you know something and actually knowing it, with the former linked to paying higher investment fees, according to a study published Friday by the Finra Foundation. The research, based on data from the group’s 2018 and 2021 National Financial Capability studies,...
A Goldman Sachs Group Inc. logo hangs on the floor of the New York Stock Exchange in New York, U.S., on Wednesday, May 19, 2010.Daniel Acker | Bloomberg | Getty ImagesInvestors have piled into short-term U.S. government bonds in a bid to wait out the upheaval caused by a...
The Powerball jackpot soared to an estimated $1.4 billion as of Oct. 6, 2023, according to the Multi-State Lottery Association.Justin Sullivan | GettyThe Powerball jackpot has soared to an estimated $1.4 billion ahead of Saturday night's drawing — and financial experts have tips for the lucky winner.As the third-largest...
Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan September 29, 2023.Rebecca Cook | ReutersDETROIT – The United Auto Workers will not expand strikes against the Detroit automakers this week amid progress in the talks, including General Motors agreeing to...
An advisor who was managing $350 million of client assets at Merrill Lynch has affiliated with UBS Wealth Management, the firm announced Friday. Matt Burton will join UBS as a managing director and financial advisor in the firm’s Indianapolis office. Client service associate Joanna Franz is also making the move. Burton...
We all know that bulls make money and pigs get slaughtered. But bears make money too. The question often faced by financial advisors is whether they should join them. As a rule, the trajectory of the market is upwards over time. Those who buy and hold long enough will inevitably...