Financial

Subscribe

St. Louis Fed names Alberto Musalem as its new president

Latino economist Alberto Musalem has been named as the next president and CEO of the Federal Reserve Bank of St. Louis, the bank announced Thursday.

Fidelity fund again trims Elon Musk’s X valuation

Investment giant Fidelity believes the shares it holds of X, the platform formerly known as Twitter, are worth 71.5% less than when Musk first purchased the social media company in October 2022, according to a new securities filing.

Macy's Stock Surges Amidst Buyout Buzz

Shares of Macy’s soared more than 17% early Monday on a Wall Street Journal report that the iconic 165-year old retailer closely associated with the holiday season might itself be bought.

Elon Musk says conspiracy theorist Alex Jones may be restored on X

Elon Musk says he may restore conspiracy theorist Alex Jones’ account on X, the platform formerly known as Twitter, pending the results of an unscientific poll of his followers. The move comes after Musk previously said he would not lift ...

Ransomware attack on China’s biggest bank may have hit US Treasury market

A US unit of the Industrial and Commercial Bank of China (ICBC) was hit by a ransomware attack this week that disrupted some of its systems, reportedly hitting liquidity in US Treasuries which may have contributed to a brief market ...

House GOP subpoenas Citibank over alleged Jan. 6 ‘back-channel’ cooperation with the FBI

House Judiciary Committee Chairman Jim Jordan has issued a subpoena to Citibank as part of a hunt for information on whether banks shared private customer data with the FBI after the January 6 insurrection.

Comerica Bank Promotes Brandon Jones to Senior Vice President, External Affairs

Comerica Bank has promoted Brandon Jones, Vice President of External Affairs, to Senior Vice President, External Affairs, reporting to Executive Vice President of Corporate Responsibility Wendy Bridges.

Female soccer players earn 25 cents to the dollar of men at World Cup, new CNN analysis finds

Soccer players at the 2023 Women’s World Cup will on average earn just 25 cents for every dollar earned by men at their World Cup last year, a new CNN analysis found.

For Members Only: Alpha Kappa Alpha Sorority Launches Historic Credit Union

Alpha Kappa Alpha Sorority, Inc. has made history with the grand opening of its groundbreaking financial institution, the "For Members Only" (FMO) Credit Union. The ribbon-cutting ceremony took place at the organization's headquarters in Chicago, prior to the 2023 Leadership ...

Bank of America CEO: Inflation could hit Fed’s 2% target by 2025

US inflation could hit the Federal Reserve’s 2% target in 2025, Bank of America CEO Brian Moynihan told CNN in an exclusive interview Tuesday

The US economy grew faster in the first quarter than previously reported

US economic growth in the first three months of the year was faster than previously estimated, the Commerce Department reported on Thursday.

GOP megadonor Harlan Crow declines to answer Democrats’ questions about financial ties to Clarence Thomas

A lawyer for GOP megadonor Harlan Crow told Senate Judiciary Chairman Dick Durbin that his committee did not have “the authority to investigate Mr. Crow’s personal friendship with Justice Clarence Thomas,” in a letter Monday night obtained by CNN.

IRS Free Tax Filing Service Could Further Harm Black, Low-Income Taxpayers

The IRS is exploring a direct e-file system for tax returns. However, some believe the system would bring undue harm to historically marginalized communities – including Black and low-income taxpayers - based on recent reports concerning IRS enforcement actions.

How you can prepare for a debt default

Treasury Secretary Janet Yellen reaffirmed June 1 as the hard deadline to raise the debt ceiling on Monday, saying she expects the United States will be unable to pay all of its bills in a little over a week.

Regional bank stocks soar after Western Alliance says deposits are growing

Regional bank stocks surged on Wednesday after Western Alliance reported that customer deposits are growing.