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White House criticizes proposed GOP commission as 'death panel' for Social Security
RETIREMENT RETIREMENT PLANNING FEB 07, 2023
White House criticizes proposed GOP commission as 'death panel' for Social Security

House Republicans had suggested negotiations on the debt limit could include an agreement to set up a commission to negotiate later changes to Social Security and Medicare to extend the programs' solvency.

Pimco's Daniel Ivascyn closes in on his next big trade
INVESTING MUTUAL FUNDS FEB 06, 2023
Pimco's Daniel Ivascyn closes in on his next big trade

After making a killing by scooping up speculative mortgage debt on the cheap in the wake of the financial crisis, Ivascyn expects the next big opportunity to come in corporate debt.

JPMorgan asks judge to throw out lawsuit over Jeffrey Epstein
NEWS REGULATION AND LEGISLATION FEB 02, 2023
JPMorgan asks judge to throw out lawsuit over Jeffrey Epstein

U.S. Virgin Islands claims the bank turned a blind eye to Epstein sex-trafficking, calling the allegation a 'masterclass in deflection.'

Federal Reserve raises rates by a quarter point
NEWS INDUSTRY NEWS FEB 01, 2023
Federal Reserve raises rates by a quarter point

Chair Jerome Powell and fellow policymakers lifted the Fed’s target for its benchmark rate to a range of 4.5% to 4.75%.

Blackstone's BREIT hit monthly redemption limit in January
INVESTING ALTERNATIVES FEB 01, 2023
Blackstone's BREIT hit monthly redemption limit in January

Blackstone Real Estate Income Trust told investors that it fulfilled repurchase requests for 2% of its net asset value.

BNY Mellon plans to launch ETF focusing on innovation space
INVESTING ETFS JAN 31, 2023
BNY Mellon plans to launch ETF focusing on innovation space

The BNY Mellon Innovators ETF will invest in innovation-driven companies, which are considered to be ‘leading-edge’ firms.

AIG interim CFO Lyons fired over confidentiality breach
RETIREMENT LIFE INSURANCE AND ANNUITIES JAN 31, 2023
AIG interim CFO Lyons fired over confidentiality breach

Sabra Purtill succeeds Lyons as the insurer's interim CFO, while Turab Hussain was named interim chief actuary.

BNY Mellon, Wall Street firms find the lure of crypto too strong to resist
INVESTING ALTERNATIVES JAN 30, 2023
BNY Mellon, Wall Street firms find the lure of crypto too strong to resist

Despite all that’s gone wrong in the industry, the world’s largest custodian bank and other financial giants are hoping to expand in crypto.

Goldman cuts CEO Solomon's pay about 30%, to $25 million
YOUR PRACTICE PRACTICE MANAGEMENT JAN 30, 2023
Goldman cuts CEO Solomon's pay about 30%, to $25 million

The CEO's package includes $2 million in base salary and $23 million in variable compensation, with $16.1 million of that in the form of restricted stock units.

ChatGPT’s ability to make a market-beating ETF is put to the test
YOUR PRACTICE FINTECH JAN 27, 2023
ChatGPT’s ability to make a market-beating ETF is put to the test

The AI tool explains that the market is too unpredictable to design such a fund, while warning about the need to pick investments that align with goals and risk tolerance.