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Harry Markowitz, Nobel Prize-winning economist, dies at 95 
NEWS INDUSTRY NEWS JUN 26, 2023
Harry Markowitz, Nobel Prize-winning economist, dies at 95 

Markowitz was best known as the father of modern portfolio theory, which he introduced in 1952.

Supreme Court backs arbitration, in win for Coinbase
NEWS REGULATION AND LEGISLATION JUN 23, 2023
Supreme Court backs arbitration, in win for Coinbase

The court's ruling reinforces the ability of companies to channel customer and employee disputes into arbitration.

UBS may see $150 billion drop in wealth management client assets
NEWS INDUSTRY NEWS JUN 22, 2023
UBS may see $150 billion drop in wealth management client assets

The decline would be due to the acquisition of Credit Suisse which would come as a result of client outflows, the overlap between the two banks and ongoing cost savings, says bank analysts.

Powell sees more rate hikes ahead
NEWS INDUSTRY NEWS JUN 21, 2023
Powell sees more rate hikes ahead

The timing of additional increases will be based on incoming data, Powell said in his opening statement.

Execs call for mandatory reporting of employee well-being metrics
NEWS RIAS JUN 21, 2023
Execs call for mandatory reporting of employee well-being metrics

Some 85% of C-suite executives believe that organizations should require mandatory reporting of well-being metrics, according to a study.

Crypto exchange backed by Citadel Securities, Fidelity, Schwab starts up
INVESTING ALTERNATIVES JUN 20, 2023
Crypto exchange backed by Citadel Securities, Fidelity, Schwab starts up

EDX Markets offers a ‘noncustodial’ model, meaning that it doesn’t hold clients’ digital assets during trading.

UBS could get hit with hefty fines over Credit Suisse's dealings with Archegos
NEWS WIREHOUSES JUN 20, 2023
UBS could get hit with hefty fines over Credit Suisse's dealings with Archegos

The Federal Reserve’s fine over Archegos may be as high as $300 million, while the UK’s Prudential Regulation Authority could impose a penalty of up to $128 million.

Justice Department and SEC probe Goldman role in SVB
NEWS REGULATION AND LEGISLATION JUN 16, 2023
Justice Department and SEC probe Goldman role in SVB

Regulators are looking at Goldman Sachs' role in Silicon Valley Bank's efforts to raise funds shortly before it collapsed in March.

Social Security benefits targeted for cuts by House conservatives
RETIREMENT RETIREMENT PLANNING JUN 15, 2023
Social Security benefits targeted for cuts by House conservatives

A proposal by the House Republican Study Committee would gradually increase the retirement age until it hit 69 for those turning 62 in 2033.

Schwab says Q2 revenue could decline as much as 11%
NEWS INDUSTRY NEWS JUN 14, 2023
Schwab says Q2 revenue could decline as much as 11%

The company's shares have lost more than one-third of their value this year as higher rates led customers to yank cash out of Schwab's low-yielding sweep accounts,