Has Brexit boosted London’s financial center?

Sep 22, 2021
British financial services exports to the EU rose in the first few months after the U.K. left the bloc.
The City of London financial district. Data from the first quarter after Brexit took effect shows a small increase in the U.K.'s financial exports to the European Union.
Justin Tallis/AFP via Getty Images

Banks are rethinking their premium credit card offerings

Aug 15, 2017
Bank of America plans to launch a new premium rewards credit card next month. The bank is entering a crowded field of similar products from American Express and Chase, whose Sapphire Reserve card made headlines for its initial 100,000-point sign-up bonus and $450 annual fee. As a result, banks are changing the way they try […]

When did the financial crisis begin? Some say August 9, 2007 — in France

Aug 9, 2017
The French bank BNP Paribas was a key figure in the crisis.
A view of the French bank BNP Paribas back in early 2008.

While the Dow spikes, the dollar falls

Aug 2, 2017
The Dow Jones Industrial Average hit 22,000 for the first time today, thanks in part to strong corporate profits. But while all eyes are on the Dow, less attention is being paid to another measure of the U.S. economy: the strength of the dollar. The greenback has dropped 10 percent since January. Why? And what […]

Wells Fargo scandals could mean sweeping consequences

Aug 1, 2017
First, there was a scandal over millions of fake Wells Fargo accounts that broke last year. Then, accusations of changes to mortgages without notifying customers. Now, Wells Fargo faces a class-action lawsuit over selling car insurance policies to hundreds of thousands of customers who did not need it from 2012 to 2017. All this could […]

Keep an eye on bonds, not the stock market

Aug 1, 2017
Alan Greenspan is warning in an interview with Bloomberg that we are in a bubble, a bond market bubble. The former Fed Chairman is concerned that inflation might surprise us and bond prices might fall sharply at some point in the near future. Here’s why that would be a disruptive thing. Click the audio player […]

LIBOR interest rate to be phased out

Jul 27, 2017
Britain’s main financial regulator said today that a key benchmark interest rate will be phased out by the end of 2021. LIBOR, the London Interbank Offered Rate, was badly damaged a few years ago in a multibillion dollar rate-rigging scandal. The Brits hope a new benchmark, called SONIA — the Sterling Over Night Index Average — will take […]

For public good, not for profit.

For short sellers, a record stock market is troublesome

Jul 21, 2017
Stocks have posted steady gains, which means traders betting against them aren’t happy.
A trader works on the floor of the New York Stock Exchange.
Andrew Burton/Getty Images

Will corporate tax reform boost President Trump’s promise of more manufacturing jobs?

Jul 18, 2017
We’re in the middle of another theme week at the White House. This time it’s “Made in America Week.” President Trump is expected to issue a declaration tomorrow highlighting the importance of American manufacturing. He’s promised to help U.S. companies by lowering corporate taxes from their current 35 percent to 15 percent. But will reduced […]

Why aren't more bankers in jail after the financial crisis?

Jul 11, 2017
A look at why the Department of Justice pursues settlements instead of indictments.
Two employees of Christie's auction house maneuver the Lehman Brothers corporate logo on September 24, 2010 in London, England. Lehman Brothers, a financial services firm, was a key entity in the financial crisis that was not deemed too big to fail.
Oli Scarff/Getty Images