Singapore city skyline on September 18, 2016.Rustam Azmi | Getty Images News | Getty ImagesAsia's family offices used to have a far bigger appetite for risks compared to their global counterparts — but that could be changing, according to a recent survey.A Citi Private Bank global survey in the third...
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Fed sparking irrational market optimism over potential rate cuts, former FDIC Chair Sheila Bair warns
Market optimism over the potential for interest rate cuts next year is dangerously overdone, according to former FDIC Chair Sheila Bair.Bair, who ran the FDIC during the 2008 financial crisis, suggested Federal Reserve Chair Jerome Powell was irresponsibly dovish at last week's policy meeting by creating "irrational exuberance" among investors."The...
Powerball jackpot climbs to $535 million. The winner should weigh options if it’s better to claim their prize in 2023 or 2024
The Powerball jackpot hit $1.2 billion on Oct. 3, 2023, the third-biggest prize in the game's history.Scott Olson | GettyWhether you pick the lump sum or annuity payout, Loyd suggests a "cooling off period" after winning the lottery before making any big financial moves.If you're planning to donate money to charity,...
Cruise is in danger of becoming GM’s latest trendy venture that doesn’t pay off
Sydney BoyoDETROIT — General Motors' plans to diversify its business through trendy industries such as ridesharing and other "mobility" ventures or startups have largely fallen flat since the automaker started investing in such growth areas in 2016.Cruise, its majority-owned autonomous vehicle subsidiary, is increasingly looking like it might be next.The...
BlackRock and China-led AIIB among backers of $800 million Asia-focused infrastructure fund
Wind turbine blades rotate in the tidal flat in Yancheng city, Jiangsu province, China, November 18, 2023.Nurphoto | Nurphoto | Getty ImagesTop global asset managers including BlackRock are among investors in an Asia-focused infrastructure private equity fund that raised $800 million, underscoring growing interest in the asset class amid market...