Hub News

SEC ends insider trading probe of ex-Sen. Richard Burr and brother-in-law without taking action, lawyers say

The Securities and Exchange Commission has ended its insider trading investigation of former U.S. Sen. Richard Burr of North Carolina and his brother-in-law without

Markets Fully Price in Quarter-Point Interest Rate Hike in February as Inflation Slows

Markets are nearly certain the Federal Reserve next month will take another step down in the pace of its interest rate increases. According to CME Group data, prices Wednesday

Wells Fargo shares rise even as the bank’s profits are cut in half by higher reserves

On Friday, Wells Fargo reported shrinking profits due to a recent settlement and the need to build reserves in light of a deteriorating economy. During Friday’s trading session, the stock erased

How Bank of America achieved a massive comeback from the brink of collapse

Bank of America was severely affected by the 2008 financial crisis. The bank’s shares traded as low as $2.53 in 2009, and its net income dropped from a high of $21 billion in 2006 to just $4 billion in 2008.

Cramer warns investors not to repeat this year’s mistakes in tech stocks.

On Friday, a CNBC host warned investors against investing in mega-cap tech stocks that have been hammered this year. “If we see these stocks creeping back up to their old levels. … Let’s remember that

The Fed projects raising rates as high as 5.1% before ending inflation battle

The Federal Reserve will raise interest rates to 5.1% by 2023, equivalent to a target range of 5%-5.25%. The forecast is higher than the 4.6% projected by the Fed in September. The Fed announced

Morgan Stanley cut about 2% of global staff on Tuesday, sources say

According to people with knowledge of the layoffs, Morgan Stanley laid off approximately 2% of its staff on Tuesday. A CNBC report first reported that the measures affected 1,600 of the 81,567 employees

Binance offers to purchase FTX’s non-U.S. operations to fix ‘liquidity crunch’

A deal has been reached between Binance and Sam Bankman-Fried’s FTX to acquire the rival crypto exchange for an undisclosed sum, rescuing the company from liquidity problems. Binance CEO

Fed Chair Powell says smaller interest rate hikes could start in December.

Jerome Powell, chairman of the Federal Reserve, confirmed Wednesday that a smaller rate increase is likely ahead even though he believes progress in the fight against inflation remains

Credit Suisse sells most of its securitized products business to Apollo as it speeds up restructuring.

On Tuesday, Credit Suisse announced that it would accelerate restructuring its investment bank by selling a significant portion of its securitized products group (SPG)

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