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Bitcoin hits 3-month low as sentiment takes knock from wave of monetary tightening
INVESTING ALTERNATIVES SEP 19, 2022
Bitcoin hits 3-month low as sentiment takes knock from wave of monetary tightening

Investors are bracing for volatility from the jumbo Federal Reserve interest-rate hike expected Wednesday to fight price pressures.

Federal Reserve places Goldman’s consumer banking unit under review
NEWS INDUSTRY NEWS SEP 16, 2022
Federal Reserve places Goldman’s consumer banking unit under review

At midyear, the bank’s own internal forecast estimated the business would post a record loss of more than $1.2 billion this year.

ETFs that track stock trades of members of Congress planned
INVESTING MUTUAL FUNDS SEP 16, 2022
ETFs that track stock trades of members of Congress planned

A pair of exchange-traded funds would analyze the financial disclosure of lawmakers from both parties and their spouses and dependent children.

Ray Dalio says rates at 4.5% would sink stocks by 20%
NEWS INDUSTRY NEWS SEP 15, 2022
Ray Dalio says rates at 4.5% would sink stocks by 20%

The billionaire founder of Bridgewater Associates says private sector credit growth and spending to come down.

AllianceBernstein enters ETF arena with its first set of active ETFs
INVESTING MUTUAL FUNDS SEP 14, 2022
AllianceBernstein enters ETF arena with its first set of active ETFs

The asset manager's initial lineup includes the Ultra Short Income and Tax-Aware Short Duration Municipal ETFs.

Credit Suisse clash over tycoon's trust catches industry attention
RETIREMENT RETIREMENT PLANNING SEP 14, 2022
Credit Suisse clash over tycoon's trust catches industry attention

A win for Bidzina Ivanishvili against Credit Suisse Trust (Singapore) Ltd. may force a major rethink of how and when trust operators flag unusual transactions or other shady practices.

Wells Fargo plans third-party racial equity audit
YOUR PRACTICE PRACTICE MANAGEMENT SEP 14, 2022
Wells Fargo plans third-party racial equity audit

The announcement that the bank hired law firm Covington & Burling to do an assessment comes as CEO Scharf prepares to appear at a pair of congressional hearings.

Bank of America forms wealth management banking and lending group
YOUR PRACTICE PRACTICE MANAGEMENT SEP 13, 2022
Bank of America forms wealth management banking and lending group

The new organization, which comprises about 3,500 employees, seeks to expand the firm's offerings for affluent clients increasingly sought by rivals.

Bigger-than-expected CPI gain cements odds of big Fed hike
NEWS INDUSTRY NEWS SEP 13, 2022
Bigger-than-expected CPI gain cements odds of big Fed hike

The August consumer price index showed price pressures are still historically elevated and widespread.

Goldman plans to eliminate several hundred positions in new round of job cuts
YOUR PRACTICE PRACTICE MANAGEMENT SEP 13, 2022
Goldman plans to eliminate several hundred positions in new round of job cuts

The reductions are a resumption of Goldman’s annual culling cycle that it had largely paused during the pandemic.