Global Finance

Overdraft fees have long been a lucrative revenue stream for American retail banks, but recent regulatory pressure and changing consumer demands have significantly impacted this source of income. The three biggest American retail banks, JPMorgan Chase, Wells Fargo, and Bank of America, reported a combined 25% decrease in overdraft revenue in 2023 compared to the

China is taking significant steps to enhance the experience of foreign tourists and business people by encouraging banks and local businesses to accept foreign bank cards and making mobile payments more accessible. These efforts aim to improve convenience and promote financial inclusion for international visitors. Zhang Qingsong, the deputy governor of the People’s Bank of

Chinese stocks are expected to experience a significant increase of at least 10% in the coming days, according to Marko Papic, partner and chief strategist at Clocktower Group. The Chinese securities regulator has been making efforts to bolster investor confidence through various public statements, including state-backed purchases. A recent report from Bloomberg revealed that Chinese

Swiss banking giant UBS reported a net loss for the fourth quarter of the previous year but narrowly beat analysts’ expectations. Despite posting a loss for the second consecutive quarter due to integration costs related to fallen rival Credit Suisse, UBS plans to recommence share buybacks worth up to $1 billion in the second half

Federal Reserve Chair Jerome Powell, in an interview with “60 Minutes,” revealed that the central bank plans to proceed cautiously with interest rate cuts this year, moving at a slower pace than what the market expects. Despite the strength of the economy, Powell emphasized the need for more evidence that inflation is moving toward the

Investors are becoming increasingly wary of the market dominance of Big Tech companies, leading them to seek alternative investment strategies. This sentiment is driven by the fear that too much money is concentrated in a handful of stocks within popular exchange-traded funds (ETFs) tied to major indices such as the S&P 500 or the Nasdaq

In the realm of estate planning, there exists a document that goes beyond the traditional will and serves to ease the burden on loved ones when you pass away. This document, referred to by certified financial planner Doug Boneparth as a “death note,” provides immediate access to vital information that is often overlooked in traditional

Deutsche Bank, the largest bank in Germany, has announced its impressive fourth-quarter earnings, surpassing expectations and solidifying its place as a strong player in the banking industry. Despite a nearly 30% decline in net profit compared to the same quarter the previous year, the bank reported a net profit of 1.3 billion euros ($1.4 billion),

The notion of a “Goldilocks” economic scenario, where the economy is neither too hot nor too cold, has been shattered by recent developments in the financial world. In a recent interview with CNBC’s “Closing Bell,” DoubleLine Capital CEO Jeffrey Gundlach expressed his belief that the Federal Reserve’s actions have derailed the hopes for such an

The International Monetary Fund (IMF) recently raised its global growth forecast, pointing to the unexpected strength of the U.S. economy and fiscal support measures in China. With global growth projected at 3.1% in 2024, an increase of 0.2 percentage points from its previous forecast, the IMF suggests that the risk of a hard landing has

Despite the overall strength of the job market, workers’ confidence in their employers’ business outlook has reached its lowest level since 2016, according to the Glassdoor Employee Confidence Index. The decline in the index suggests that job security is a major worry for employees heading into 2024. Layoff announcements by big technology firms like Amazon,

Small cap stocks have been struggling this year, with the Russell 2000 underperforming and declining by two percent. While the S&P 500, Dow, and Nasdaq 100 have been reaching new all-time highs, small caps have been left behind. However, market technician Katie Stockton from Fairlead Strategies believes that this underperformance is just a temporary setback.