Stocks close out tough quarter on economic fears

LONDON ― European markets nudged higher on Friday, gaining some respite from a torrid week as the third quarter drew to a close. The pan-European Stoxx 600 added 0.8% in early trade, with oil and gas stocks climbing 1.9% to lead gains as most sectors and major bourses entered positive territory. Household goods dropped 0.3%. … Read more

Morgan Stanley’s CEO isn’t worried about its stock price. Neither are we

Morgan Stanley (MS) CEO James Gorman said Thursday he’s not worried about the bank’s beleaguered stock price — and that’s a view we share due to our long-term belief in the Club holding’s revenue diversification strategy. “I’m not concerned about it all, where the stock is trading in this environment. Obviously, I feel very good … Read more

5 Expenses Contributing Most To Credit Card Debt In 2022

Racking up credit card debt feels easy but getting out of it can be a much harder feat. A recent survey from CreditCards.com found that almost half (48%) of respondents continue to carry credit card debt on a month-to-month basis. Of course, if you don’t pay off your credit card balance in full each month, … Read more

Pension fund panic led to Bank of England’s emergency intervention

The Bank of England on Wednesday launched a historic intervention in the U.K. bond market in order to shore up financial stability, with markets in disarray following the new government’s fiscal policy announcements. Bloomberg | Bloomberg | Getty Images LONDON – The Bank of England launched a historic intervention to stabilize the U.K. economy, announcing … Read more

El-Erian says Bank of England’s latest rescue move shows we are still in central bank ‘la-la land’

The Bank of England’s Wednesday reversal where it announced it would start buying bonds to ease market stress shows the bind central banks find themselves in today, and the markets may end up with a rougher landing anyway, Mohamed El-Erian said Wednesday. “The longer you stay in this la-la land of QE (quantitative easing), floored … Read more

Goldman Sachs predicts stock market bottom for Europe; says how to position

Goldman Sachs has predicted further pain for a raft of European indices over the short term, with one expected to be firmly in a bear market by the end of the year. The Euro Stoxx 600 is expected to fall by nearly 8% by the end of this year, the investment bank said in a … Read more

Where to get the best return on your cash amid rising interest rates

When the Federal Reserve hiked the target federal funds rate by another 0.75 percentage points this month, it opened some new opportunities for savers to earn better returns on their cash. The Fed’s move is aimed at combating high inflation, which has sent costs for housing, food and energy soaring. The bad news for consumers … Read more

Stock market IPOs went from boom to bust in 2022

From the best of times, to the worst of times: The market for initial public offerings has fallen off a cliff in 2022. Investors faced with high inflation and rising interest rates have ditched high-flying growth stocks and turned to safer, more profitable alternatives. The decline has been striking given the record level of proceeds … Read more

London Banks Prepare For Possible Blackouts

Banking and financial firms in London are closely studying and updating contingency electricity supply plans to protect themselves and their customers in case power outages hit the UK this winter. Some banks are discussing the idea of again encouraging the work-from-home policies from previous Covid lockdowns or using offsite locations, representatives of the trade association … Read more

European stocks slide 2.8% after weak euro zone data, new UK economic plan

European stocks were sharply lower on Friday, as investors digested a raft of central bank decisions and a new economic plan from the U.K. The Stoxx 600 was down 2.8% in early afternoon trading, with all sectors and major bourses trading in the red. Oil and gas stocks and basic resources were the biggest fallers, … Read more