Chinese plans to save hit a record high in Q2; job concerns rise

Education remained the most popular category for Chinese consumer’s planned spending, according to a People’s Bank of China survey in the second quarter of 2022. China News Service | China News Service | Getty Images BEIJING — Chinese consumers’ inclination to save is at its highest in two decades, the People’s Bank of China found … Read more

How to save money on summer cooling bills as energy prices rise

A pedestrian uses an umbrella to get some relief from the sun as she walks past a sign displaying the temperature on June 20, 2017 in Phoenix, Arizona. Ralph Freso | Getty Images Tips for efficient energy use Most cooling systems use electricity, so making sure your home is running as efficiently as possible can … Read more

First phase of market downturn over. Two left: Billionaire Jim Coulter

Jim Coulter, the founding partner and executive chairman of TPG, which manages $120 billion in investments, has been through seven or eight major market resets and that experience has led him to a form of pattern recognition in how downturns progress. He says there are “three chapters” in these difficult periods for investors, and the … Read more

Fed’s Mester backs 75 basis point hike in July if conditions remain the same

Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the US economy in New York November 18, 2015. Lucas Jackson | Reuters Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday that if economic conditions remain the same when the US central bank meets to decide … Read more

Dow falls 400 points as momentum from bear market bounce fizzles

US stocks fell on Tuesday, erasing earlier gains as the market failed to keep its rebound from the bear-market lows going. The blue-chip Dow Jones Industrial Average fell 417 points, or 1.3%. The S&P 500 dropped 1.8%, and the Nasdaq Composite was the laggard, down 2.6%. Major averages cut gains after disappointing economic data. The … Read more

Credit Suisse to overhaul its risk management after Archegos and other scandals

A sign above the entrance to the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Monday, Nov. 1, 2021. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse has vowed to forge ahead with its risk management and compliance overhaul in light of a string of scandals, despite what its CEO called … Read more

SPACs wipe out half of their value as investors lose appetite for risky growth stocks

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, June 16, 2022. Brendan McDermid | Reuters SPACs, once Wall Street’s hottest tickets, have become one of the most hated trades this year. The proprietary CNBC SPAC Post Deal Index, which is comprised of SPACs that have completed their … Read more

Russia slides into historic debt default as payment period expires

Russian Finance Minister Anton Siluanov (seen here with Russian President Vladimir Putin in 2019) reportedly told Russian newspaper Vedomosti that Moscow will continue to service external debts in rubles, but foreign Eurobond holders will need to open ruble and hard currency accounts with Russian banks in order to receive payments. Mikhail Svetlov | Getty Images … Read more

Stock futures rise slightly following a major comeback week for stocks

Traders on the floor of the NYSE, June 15, 2022. Source: NYSE US stock futures rose slightly on Sunday night following a major rebound last week from this year’s steep declines. Despite the bounce, Wall Street is preparing to wrap up the worst first half for stocks in decades. Dow Jones Industrial Average futures rose … Read more

Next week will be a bellwether for the upcoming earnings season

CNBC’s Jim Cramer on Friday said that next week will be a crucial moment for determining what the upcoming earnings season will look like. “It’s been ages since we’ve been on pre-announcement watch, where companies have to admit that things aren’t going well. Things like higher labor costs, supply chain woes and the Russia-Ukraine war. … Read more