Oleg Nayandin’s international flower shop hit a chin after Russia invaded Ukraine. American Express Co. AXP -2.80% wire service he had used for years to pay sellers in Ukraine had suddenly stopped working. He contacted AmEx for an explanation. A representative told him the company had suspended service in the country. “I understand Russia, but … Read more
China’s anti-corruption watchdog said it had placed the former president and CEO of China Merchants Bank Co. during an investigation, a few days after he was suddenly removed from the helm of the state-subsidized lender. The country’s Central Commission for Discipline Inspection said in a brief statement Friday that Tian Huiyu is “suspected of seriously … Read more
The consumer life of American consumers is working hard for card companies right now. American Express AXP -2.80% Friday reported that spending on its travel and entertainment card nearly matched the 2019 pre-pandemic level in March. While large business travel expenses and international consumers are still not back at these levels, US consumers are not … Read more
Credit Suisse Group AG is preparing for another management reshuffle after a year of crisis, said people with knowledge of the matter. The Swiss bank said on Sunday that its board has not made any decisions, but that it is reviewing senior appointments and succession plans. Many years of leadership in roles, including the chief … Read more
Cathie Woods ARK Innovation exchange traded fund continues to decline, but investors are not jumping off. The shares of the popular ETF, known under its ticker ARKK, have fallen by 45% so far in 2022 – including 21% in April alone – as rising interest rates penalize stocks valued on the prospect of robust future … Read more
Businesses face stricter environmental, social and managerial requirements leading into the proxy season. The Securities and Exchange Commission recently proposed new rules that would require public companies to provide investors with information about their exposure to risks arising from greenhouse gas emissions and other climate change-related issues. Institutional investors are now asking for more information, … Read more
I am a 39 year old single father of a 16 year old son. I have $ 70,000 in cash savings, $ 530,000 invested in individual retirement accounts and owe $ 210,000 on a $ 500,000 home. I also owe about $ 20,000 on my car. My home income is $ 7,200 a month, and … Read more
Federal Reserve Chairman Jerome Powell Photo: Tom Williams / Associated Press Does Wall Street finally believe in the Federal Reserve? Officials have warned for weeks that the central bank would tighten policy faster than many expected to break inflation. So the tumult among bond and stock traders, after President Jerome Powell repeated the promise on … Read more