The Economy Survived 2025, But Many Americans Are Reeling
A feared recession didn’t materialize, but unemployment rose, wage growth slowed and affordability challenges are mounting. Source link
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James Crown, Chicago Businessman and Avid Philanthropist, Dies at 70
In 1983, he became a vice president at Salomon, where he met Paula Hannaway, an investment banker. They married in 1985 and moved to Chicago, where Mr. Crown joined his family’s investment firm. In addition to his wife and his parents, Mr. Crown is survived by two brothers, Steve and Daniel; four sisters, Patricia (known …
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Fed Pauses Interest Rate Increases but Suggests More Are Ahead
Federal Reserve officials left interest rates unchanged on Wednesday, skipping an increase after raising rates 10 times in a row since March 2022. Still, policymakers predicted that they might need to raise rates two more times this year as inflation, while moderating, remains stubborn. Fed officials, in their policy statement, said that they were giving …
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European Central Bank Raises Interest Rates to Highest Level Since 2001
The European Central Bank raised interest rates to their highest level in more than two decades on Thursday and warned that there was further to go in order to stamp out inflation. Unlike the Federal Reserve, which left interest rates unchanged on Wednesday, policymakers who set rates for the 20 countries that use the euro …
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Overdraft Fees Are Dwindling, Study Finds
Are the days of overdraft fees almost over? The dreaded bank fees are shrinking, even as the share of households paying them remains the same, new financial research shows. And banks are increasingly offering their customers alternatives like small installment loans. Banks charge overdraft fees to cover shortfalls when customers spend more than the amount …
Crispin Odey and His Hedge Fund Rocked by Sexual Assault Allegations
For three decades, Crispin Odey stood above London’s financial community, a larger-than-life financial mogul who was known for taking huge bets — and raking in big profits when they proved right. But in a little more than a week, his hedge fund is suddenly on the brink of dissolution, felled by the latest accusations of …
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