What the push for open banking could mean for your finances

What the push for open banking could mean for your finances

When Colin Deacon started his career as an investment adviser 40 years ago, he made a point of working with some of the smallest customers – those who’d typically be passed over by the financial services industry. His clients got financial and tax planning advice, help with their small business concerns and investing assistance – … Read more

JP Morgan quant who called summer rebound in stocks says rally could continue even if corporate profits decline

JP Morgan quant who called summer rebound in stocks says rally could continue even if corporate profits decline

Investors worried about the next pullback for stocks might want to pause and consider this: the decline in equity valuations since the start of the year already has exceeded the average pullback of other recessionary periods since the early 1990s, according to JPMorgan Chase & Co.’ s equity as to Marko Kolanovic. While more Wall … Read more

Celsius customers write pleas to bankruptcy court to get crypto back: ‘This is an emergency situation, simply to keep a roof over my family and food on their table.’

Celsius customers write pleas to bankruptcy court to get crypto back: ‘This is an emergency situation, simply to keep a roof over my family and food on their table.’

Some customers of crypto lender Celsius Network, which filed for bankruptcy earlier this month, have written to the Bankruptcy Court for the Southern District of New York, with a hope of getting their funds back. As digital assets crashed, Celsius, which said it had more than 1.7 million users as of June, halted withdrawals since … Read more

Buying stocks now could bring you pain over the next few weeks. But you’ll be thanking yourself a year from now, these analysts say.

Buying stocks now could bring you pain over the next few weeks.  But you’ll be thanking yourself a year from now, these analysts say.

How bad is the mood out there right now? Try max bearish. So said Bank of America’s latest fund manager survey on Tuesday that showed expectations for profits and growth at recessionary levels. Yet Wall Street rallied and more gains are ahead for Wednesday, partly on earnings optimism but also as some see all this … Read more

Dow clings to gain as earnings season kicks off, with investors scaling back Fed rate-hike expectations

Dow clings to gain as earnings season kicks off, with investors scaling back Fed rate-hike expectations

US stocks rose, but trimmed earlier gains, as investors focused on positive elements in the quarterly results of Goldman Sachs Group Inc. and Bank of America Corp. in an attempt to build upon upside momentum ahead of the Federal Reserve’s interest rate hike next week. How stocks are trading The Dow Jones Industrial Average DJIA … Read more

Stocks week ahead: Netflix’s most consequential earnings report is coming

Stocks week ahead: Netflix’s most consequential earnings report is coming

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business — Netflix, once a darling of Wall Street, is suddenly on the ropes. … Read more

Beleaguered crypto lender Celsius files for Chapter 11 bankruptcy

Beleaguered crypto lender Celsius files for Chapter 11 bankruptcy

Calling it a “a defining moment,” embattled crypto lender Celsius Networks has filed for Chapter 11 bankruptcy protection. In a statement late Wednesday, Celsius co-founder and Chief Executive Alex Mashinsky said the filing in US Bankruptcy Court for the Southern District of New York “is the right decision for our community and company.” “I am … Read more

Expect the stock market to be driven ‘more by earnings than the macro,’ says Morgan Stanley’s Wilson

Expect the stock market to be driven ‘more by earnings than the macro,’ says Morgan Stanley’s Wilson

Earnings season will be a key test for the stock market after the S&P 500 last week closed out its worst half-year performance since 1970, said strategists from Morgan Stanley. The direction of stocks going forward will be mostly tied to second-quarter earnings as interest rate hikes and surging inflation reflect the growth slowdown more … Read more

Why we won’t see a rash of Canadians defaulting on mortgages

Why we won’t see a rash of Canadians defaulting on mortgages

Canadians will run up their credit cards, fall behind on their utilities and juggle car payments. The one thing they don’t do in significant numbers is fall behind on their mortgage payments. GTA residents rattled by rate hikes and inflation can take some comfort in mortgage delinquency numbers that show that losing a home to … Read more

Powell says no guarantee of soft landing for US economy

Powell says no guarantee of soft landing for US economy

Fed Chairman Jerome Powell on Wednesday said there was no guarantee that the central bank can engineer a soft landing for the US economy. “We think that there are pathways for us to achieve the path back to 2% inflation while still retaining a strong labor market. We believe we can do that,” Powell said, … Read more