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America faces retirement savings crisis as aging population keeps growing
RETIREMENT RETIREMENT PLANNING AUG 16, 2022
America faces retirement savings crisis as aging population keeps growing

In 2019, Boston College estimated there was a $7.1 trillion retirement savings shortfall among American households. That number likely hasn’t changed much since then and the situation is getting worse.

ESG funds being probed by SEC over ceding votes on social issues
INVESTING ESG AUG 15, 2022
ESG funds being probed by SEC over ceding votes on social issues

The agency is asking companies offering ESG funds whether they lend out shares, which could impact their ability to cast ballots in corporate elections.

Wells Fargo plans retreat from mortgage business
NEWS WIREHOUSES AUG 15, 2022
Wells Fargo plans retreat from mortgage business

The bank, which once made one out of every three home loans in the U.S., plans to trim its mortgage business after years of struggles with regulatory probes.

JPMorgan, Morgan Stanley clash on direction of stock rally
NEWS INDUSTRY NEWS AUG 15, 2022
JPMorgan, Morgan Stanley clash on direction of stock rally

JP Morgan believes rally could run through end of year while Morgan Stanley sees disappointing earnings pushing stocks lower.

Investors see 60/40 mix enduring despite recent turmoil, survey shows
INVESTING FIXED INCOME AUG 15, 2022
Investors see 60/40 mix enduring despite recent turmoil, survey shows

The tactic has taken a beating this year as bonds were hit by the steepest slump in decades, compounding the stock market's losses instead of buffering against them.

Blackstone's tax-free hedge fund pitch draws scrutiny
RETIREMENT RETIREMENT PLANNING AUG 15, 2022
Blackstone's tax-free hedge fund pitch draws scrutiny

Senate Finance Committee Ron Wyden has requested information about private placement life insurance, which can be used to shelter hedge funds and other products from taxes.

JPMorgan strategist sees stocks bouncing back to record highs within next three years
NEWS INDUSTRY NEWS AUG 12, 2022
JPMorgan strategist sees stocks bouncing back to record highs within next three years

JPMorgan Asset Management’s David Kelly says rebound is 'eminently doable' as the economy cools further.

Vanguard wrests BlackRock’s spot as manager of world’s biggest bond ETF
INVESTING MUTUAL FUNDS AUG 10, 2022
Vanguard wrests BlackRock’s spot as manager of world’s biggest bond ETF

The Vanguard Total Bond Market ETF, with assets of roughly $83.8 billion, has surpassed the $83.2 billion iShares Core U.S. Aggregate Bond ETF.

House Democrats pushing for SALT say they will vote for Biden tax bill
NEWS REGULATION AND LEGISLATION AUG 08, 2022
House Democrats pushing for SALT say they will vote for Biden tax bill

Representatives Josh Gottheimer, Tom Suozzi and Mikie Sherrill, who have led efforts to include an increase to the $10,000 cap on deductions for state and local tax, will support bill.

Tax bill would empower IRS to collect hundreds of billions of dollars from wealthy Americans
NEWS REGULATION AND LEGISLATION AUG 08, 2022
Tax bill would empower IRS to collect hundreds of billions of dollars from wealthy Americans

A much better-funded Internal Revenue Service would be equipped with new auditors and technology to uncover tax avoidance.