Federal Reserve Bank of Dallas President Lorie Logan said that skipping an interest-rate hike at the US central bank’s upcoming policy meeting may be appropriate, while also signaling rates may have to rise further to get inflation back to 2%. The Federal Open Market Committee, the group of Fed policymakers...
Goldman Sachs Group Inc. plans to dismiss underperformers as soon as next month, as part of the Wall Street firm’s annual evaluation of staff, the Financial Times reported. Reductions this year will be at the lower end of the bank’s usual range of 1% to 5% of its workforce, the...
Former FTX executive Ryan Salame pleaded guilty to criminal charges stemming from the collapse of the cryptocurrency exchange. Salame, who was the co-chief executive of FTX’s Bahamas subsidiary before the exchange imploded last November, appeared in Manhattan federal court on Thursday afternoon. Flanked by lawyers and wearing a blue suit and Bitcoin...
HSBC Holdings Plc has made a u-turn on its dollar forecast, predicting the world’s reserve currency will now strengthen well into next year given weaker global economic prospects. The greenback should gain as faltering growth in Europe and China weigh on risk sentiment and drive demand for assets linked to...
Global food prices resumed declines to the lowest in more than two years amid ample supplies of cooking oils and dairy, even as worries persist over flows of key staples from some regions. An index of food-commodity costs fell 2.1% last month on subdued demand and good output of vegetable...
The financial services industry has a history of furthering inequality — both within the business and the wider public — and that’s something that consumers want it to address. That’s according to a report Thursday from Veris Wealth Partners that highlighted ways for advisors to evaluate asset managers on their...
Two digitally native wealth management firms are merging into a digital family office serving entrepreneurs, professionals and retirees. Compound, a financial and tax advisory service for technology executives, is joining Alternativ Wealth, a digital registered investment advisor, to form Compound Planning. The new entity manages $1.2 billion in assets and...
The newly rebranded Osaic Inc. said Thursday that it nabbed a team of financial advisors formerly with Wells Fargo Advisors Financial Network that manages $600 million in client assets. Based in Birmingham in suburban Detroit, the Investment Consulting Group consists of managing partners and co-founders Christopher DeWolfe and Jason...
No matter how they may be portrayed in movies and on television, the majority of ultra-high-net-worth investors are not single-mindedly focused on lowering their taxes. They are actually more concerned about their kids becoming rich little creeps, a new study shows. Estate planning solutions provider Vanilla Thursday announced the...
The investment industry is being reshaped by several factors which can leave industry professionals feeling uncertain of how they can keep up with the developing trends. But a new report from the CFA Institute aims to help along with the establishment of a new center focused on addressing the most...