Hints and tips:
Related Special Reports
...A trio of developers recently joined forces to convert 25 Water Street, a chunky 1960s office building into apartments....
...Central banks: Last week’s monetary policy moves mark a shift away from strict inflation targeting, argues Mohamed El-Erian....
...So what to make of the Federal Reserve’s proposal for new bank regulation....
...Over the following 12 months they expect the central bank to reverse course, cutting borrowing costs six times to around 3.8 per cent by November 2024....
...Federal and state governments were less likely to sell assets, fearing a political backlash....
...The Bank of England is fairly gloomy about the outlook....
...With one-year Treasuries at 5.4 per cent, Bank of America is still offering a measly 0.01 per cent on its savings accounts and the national average one-year CD pays just 1.6 per cent....
...Details are yet to be confirmed and the administration may also offer control of a state-owned bank....
...Troubled Thames Water co-chief Cathryn Ross came under fire in parliament over her former role as head of the water watchdog....
...Spanish central bank chief Pablo Hernández de Cos said higher borrowing costs from the recent bond market rout supported a pause in the European Central Bank’s programme of interest rate rises....
...Australia picked a new central bank chief after a backlash against its interest rate tightening cycle last year....
...But it’s really, it’s looking like banks are gonna be able to keep savings rates low for quite a long period of time....
...As customers deposited their savings and Covid-19 stimulus cheques on to the platform and markets climbed, Schwab automatically “swept” the money into bank accounts....
...The FCA watchdog told Britain’s largest banks that it wanted to see faster progress on improving savings rates for customers, as lenders come under fire for profiteering....
...After a 2018 law exempted banks of First Republic’s size from some of the most onerous requirements, the bank significantly reduced its federal lobbying spending....
...And the savings cushion built in Covid may be further depleted....
...Now, it’s easy to understand why interest rates matter on financial products like savings accounts....
...accounts at big banks such as JPMorgan Chase and Bank of America hover near zero....
...At this rate, that short, narrow runway will be surrounded by shark-infested waters and beset by hurricanes....
...I think banking is a utility, just like water. Nobody would think about cutting off water that goes to everybody's house....
...By agreeing to sell to Expobank, HSBC appeared to have achieved what few other foreign lenders had managed: a face-saving Russian exit....
...EM: And are you saving some money for the ETA? AS: Well, we won’t be in the business of purchasing offsets....
...As ever, get in touch with Imani (imani.moise@ft.com) or me (sid.v@ft.com) with thoughts for new articles. Happy reading!...
...Approximately 43mn Americans owe $1.6tn in federal student loans, which make up the vast majority of student loan debt, according to the Federal Reserve Bank of New York....
...He’s buying bubbly water,” Gilbert says. There was also a foundation credit card in Gold’s son’s name....
International Edition