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Read previewSteven and Lauren Keys, now 33 and 34, retired at 29 and have visited every state and national park — managing to grow their wealth while doing so. They've explored much of the country, deciding their favorite national parks are in California and Alaska — while their least favorite are in the Midwest. "We've been to Yosemite a couple of times, and there are areas where you're sitting in traffic literally in a national park for an extra 45 minutes." About 41% of the total cost of attending all national parks came from traveling to Alaska, Hawaii, and other American territories. Their least favorite national park was Hot Springs in Arkansas, which was the first national park they visited.
Persons: , Steven, Lauren Keys, They've, Lauren, It's, We've, Hawaii's Haleakalā, St . Louis, St, Rushmore Organizations: Service, Business, University of Florida, Facebook, Yosemite, Hawai'i Volcanoes, Springs, Voyageurs, Kansas City Locations: California, Alaska, Tampa, Florida, New York, Hawaii, Gainesville —, Australia, Canada, Yosemite, Eureka Valley, Badwater, Hawai'i, Maui, Yellowstone, American Samoa, Carlsbad, Arkansas, St ., Minnesota, Guadalupe, Texas, Utah, Southern California, Oahu, Kansas , Missouri, South Carolina, New Jersey, Kansas, Louis, North Dakota, South Dakota , Idaho, Montana
LONDON — The boss of British financial technology giant Revolut told CNBC he is optimistic about the company's chances of being granted a U.K. banking license, as a jump in users saw the firm report record full-year pre-tax profits. Several small financial institutions have been able to win approval for a banking license with few customers, he added. "U.K. banking licenses are being approved for smaller companies," Storonsky said. A bank license would enable it to offer loans in the U.K. One conditions set by the Bank of England for granting Revolut its U.K. banking license, was to collapse its six classes of shares into ordinary shares.
Persons: Revolut, Nikolay Storonsky, we'll, Storonsky, SoftBank Organizations: CNBC, British, EMI, Prudential, Authority, Bank of England, Financial Times
The WNBA, still emerging entering its 28th season, hopes Caitlin Clark can achieve what those athletes did and turn the league into a cultural phenomenon. WNBA players’ salaries also lag behind. Turning Clark fans into WNBA fansClark is already having an impact on the WNBA. “The need by WNBA teams to invest in fan acquisition and fan engagement is really critical to maximize this moment,” she said. Bebeto Matthews/APThe league was financially connected to the NBA, and each of the first eight WNBA teams was linked to an NBA franchise.
Persons: Woods, Venus Williams, Michael Jordan, Caitlin Clark, , Boris Lelchitski, Candace Parker, Jonquel Jones, ” Clark, Angel Reese, Clark, Reese, , Phil Cook, Gregory Fisher, Nielsen, “ Caitlin Clark, Noah Henderson, Cathy Engelbert, “ We’ve, Erica Denhoff, Jessica Gelman, Gelman, David Stern, Lisa Leslie, Sheryl Swoopes, Rebecca Lobo, Bebeto Matthews, Terri Jackson, ” Donna Orender, Orender, ” Engelbert, Cameron Brink, , “ Clark, Donna Orender Organizations: New, New York CNN, NBA, WNBA, Indiana Fever, NCAA, University of Iowa, Louisiana State University, Tiger, USA, Sports, Reuters, Loyola University, CNN, LSU, WNBA's Indiana, Kraft Analytics Group, MIT Sloan Sports Analytics, Nielsen, Brands, Gatorade, State, longtime, Olympics, Basketball Players Association, Deloitte, Kraft Analytics Locations: New York, Chicago, Iowa, USA, Atlanta, San Francisco
A man described as an "experienced anti-money laundering specialist" pleaded guilty on Wednesday to illegally funneling more than $1 billion in lucrative, high-risk transactions through small financial institutions, the U.S. Department of Justice said. The man, 56-year-old Gyanendra Asre of Greenwich, Connecticut, pleaded guilty in Brooklyn federal court to one count of failing to maintain an anti-money laundering program in violation of the Bank Secrecy Act. The U.S. Department of the Treasury's Financial Crimes Enforcement Network, meanwhile, on Wednesday assessed a $100,000 civil penalty on Asre and banned him from participating in any financial institution's affairs for five years. He had previously been employed as a senior vice president at a domestic bank, and was "experienced in international banking and trained in anti-money laundering compliance and procedures," the DOJ said. Asre "represented to the NYSEFCU that he and his businesses would conduct appropriate anti-money laundering oversight as required by the Bank Secrecy Act," according to the DOJ.
Persons: Asre, Attorney Breon Peace Organizations: U.S . Department of Justice, DOJ, U.S . Department, Network, U.S, Attorney, New York, Employees Federal Credit Union, Bank Locations: Greenwich , Connecticut, Brooklyn
Financial Gift Ideas for Any Age
  + stars: | 2023-12-01 | by ( Nick Fortuna | ) www.wsj.com   time to read: 1 min
Seeding a ‘529’ college-savings plan for young children or a Roth IRA for teenagers can give your loved ones a leg up. Illustration: Alex NabaumU.S. consumers entered this holiday season planning to spend an average of $654 on gifts, with the likeliest purchases going to gift cards, vacation and travel, and toys and games, according to the Conference Board Holiday Spending Survey. Instead of giving these traditional gifts, wealth advisers say a financial-related gesture or present might be the best gift of all—the one that keeps on giving. Even small financial gifts can help to position young people for success or help seniors to enjoy their retirement, financial advisers say.
Persons: Roth, Alex Nabaum Organizations: Conference
However, I'm much happier using local banks and credit unions where I can get more personal help. Credit unions aren't always perfect, but I'm happy to deal with the occasional hurdles. Savings and loans disappeared after the S&L crisis, but credit unions are very similar, and I have always stuck with local banks and credit unions for my business and personal banking. My credit union has no branches near where I live, and I sometimes have to pay ATM fees because I can't find a compatible ATM. The credit union gave us a good rate and stability that I hope to stick with until we pay off the loan.
Persons: , I've, Wells Fargo, we've Organizations: aren't, Service, Ls, Savings Locations: San Francisco, California, East Coast
ET (14:27 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 171.91 points, or 0.9%, at 19,005.27. Yields on 10-year and 30-year <US30YT=RR > U.S. government bonds hit their highest since 2007, while the dollar climbed to a more than 10-month peak. The only sector with minor gains was the communications sector (.GSPTTTS), which rose 0.2% in early market hours. In corporate news, Lundin Mining (LUN.TO) shares dropped 4.7% as the company announced insider Jack Lundin would be the new chief executive officer. Reporting by Khushi Singh in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.
Persons: Lundin, Allan Small, Jack Lundin, Khushi Singh, Shweta Agarwal Organizations: U.S, Treasury, Toronto Stock, Allan Small Financial, Federal, Labor, Reuters, Lundin Mining, Thomson Locations: U.S, Bengaluru
Elliott Appel, a financial planner in Madison, Wis., and the founder of Kindness Financial Planning, helps families, often caregivers, navigate shifting roles and responsibilities. An introduction lets him know whom to reach out to in case of trouble. “Then it becomes: First let’s acknowledge that this is going to be a challenging conversation, because most people don’t want to give up control of their money,” Mr. Appel said. Once that hurdle is cleared, a talk about designating a trusted contact, or someone who will eventually take over, can take shape. In some cases, the trusted contact can start with a few tasks, then take on more responsibilities as time goes on, he said.
Persons: Elliott Appel, , ” Mr, Appel Organizations: American Medical Locations: Madison, Wis
Parents in Greystones, Ireland, have implemented a smartphone ban for primary school-aged kids. The hope is that the ban will help prolong childhood by lessening the anxiety and exposure to adult materials that smartphone usage often eggs on. It makes it so much easier to say no," Laura Bourne, whose child is in primary school, told The Guardian. The impacts of smartphone usage on kids is becoming an increasing concern as ongoing studies seek to analyze any lasting effects on the brain. Meanwhile, a town in India has banned smartphone usage for all under the age of 18, according to the Times of India.
Persons: Laura Bourne, Rachel Harper, Stephen Donnelly, Organizations: Guardian, Irish Times, National Institutes of Health, Times Locations: Greystones, Ireland, Dublin, India, Times of India
Elizabeth Holmes Reports to Federal Prison
  + stars: | 2023-05-30 | by ( The Associated Press | ) www.nytimes.com   time to read: 1 min
NOW PLAYINGElizabeth Holmes Reports to Federal Prison0:57Biden Confident After Debt Limit Talks: ‘America Will Not Default’1:35Senators Grill Ex-C.E.O. of Silicon Valley Bank1:17OpenAI C.E.O. Calls for Government Regulation of Artificial Intelligence1:00Federal Reserve Raises Interest Rates by Another Quarter Point0:59‘Taxpayers Are Not on the Hook’ for First Republic Collapse, Biden Says1:15Fox News Settles Defamation Lawsuit With Dominion0:25Fed Vice Chair Calls SVB a ‘Textbook Case of Bank Mismanagement’1:21Yellen Calls for Review of Financial Regulations After Bank Collapses1:09Fed Raises Interest Rates a Quarter of a Point0:55Yellen Reaffirms Support for Small Financial Institutions1:12
Persons: Elizabeth Holmes, Biden Organizations: Federal, Grill, Artificial, Taxpayers, Fox News, Dominion, Bank, Small Financial Locations: Silicon Valley
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NOW PLAYINGFederal Reserve Raises Interest Rates by Another Quarter Point0:59‘Taxpayers Are Not on the Hook’ for First Republic Collapse, Biden Says1:15Fox News Settles Defamation Lawsuit With Dominion0:25Fed Vice Chair Calls SVB a ‘Textbook Case of Bank Mismanagement’1:21Yellen Calls for Review of Financial Regulations After Bank Collapses1:09Fed Raises Interest Rates a Quarter of a Point0:55Yellen Reaffirms Support for Small Financial Institutions1:12U.S. Banking System ‘Is Sound,’ Yellen Says1:30‘The Banking System Is Safe,’ Biden Assures Americans0:51Fed Is Likely to Raise Rates Higher Than Expected, Powell Says0:59Biden Says U.S. Economy is ‘Strong’ After Jobs Report0:49
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) rose 15.42 points, or 0.1%, to 20,579.91, its highest closing level since March 3. "Good bank earnings out of the U.S. spilled over into Canada," said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth. Canadian banks had been pressured in recent weeks by the banking stress in the United States and Europe. The Toronto market's heavily-weighted financials sector added 0.2%, while energy was up 0.3% as oil added to recent gains. Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.
NOW PLAYINGFed Vice Chair Calls SVB a ‘Textbook Case of Bank Mismanagement’1:21Yellen Calls for Review of Financial Regulations After Bank Collapses1:09Fed Raises Interest Rates a Quarter of a Point0:55Yellen Reaffirms Support for Small Financial Institutions1:12U.S. Banking System ‘Is Sound,’ Yellen Says1:30‘The Banking System Is Safe,’ Biden Assures Americans0:51Fed Is Likely to Raise Rates Higher Than Expected, Powell Says0:59Biden Says U.S. Economy is ‘Strong’ After Jobs Report0:49Federal Reserve Announces Quarter-Point Interest Rate Increase1:02Biden Says Inflation Report Is ‘Proof’ His Economic Plan Is Working0:25FTX Founder Leaves Court in Handcuffs0:57
"But here it seems the market likes the deal and is giving a thumbs up with respect to the acquisition." ET (14:10 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 61.34 points, or 0.31%, at 19,686.08. Energy stocks (.SPTTEN) added 0.8%, tracking oil prices amid supply disruption risks from Iraqi Kurdistan. Still, the bourse is up for the quarter underpinned by gains from January as equities bounced back from previous year's losses. Reporting by Johann M Cherian in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
Fed Raises Interest Rates a Quarter of a Point
  + stars: | 2023-03-22 | by ( The New York Times | ) www.nytimes.com   time to read: 1 min
1:21Yellen Calls for Review of Financial Regulations After Bank CollapsesNOW PLAYINGFed Raises Interest Rates a Quarter of a Point0:55Yellen Reaffirms Support for Small Financial Institutions1:12U.S. Banking System ‘Is Sound,’ Yellen Says1:30‘The Banking System Is Safe,’ Biden Assures Americans0:51Fed Is Likely to Raise Rates Higher Than Expected, Powell Says0:59Biden Says U.S. Economy is ‘Strong’ After Jobs Report0:49Federal Reserve Announces Quarter-Point Interest Rate Increase1:02Biden Says Inflation Report Is ‘Proof’ His Economic Plan Is Working0:25FTX Founder Leaves Court in Handcuffs0:57Federal Reserve Raises Interest Rates at Slower Pace1:44
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 131.71 points, or 0.7%, at 19,519.43, preliminary data showed. The financial sector (.SPTTFS), which accounts for nearly 30% of the TSX, added 0.5%. Energy was up 2.9% as oil rebounded from a 15-month low. The materials sector, which includes precious and base metals miners and fertilizer companies, gained 0.8%. Reporting by Johann M Cherian in Bengaluru; Editing by Pooja Desai and David GregorioOur Standards: The Thomson Reuters Trust Principles.
Financial stress stemming from Silicon Valley Bank's collapse could spread, a top fund manager said. But that in itself is becoming an under-the-radar issue, he noted, as large banks' strength is now coming at the expense of regional banks — even those without issues. Since most regional banks aren't classified as "systemically important," their clients would be out of luck in the event of a bank failure, Hatfield noted. Unless the FDIC insures all deposits at all banks, Hatfield said that there will be no reason to put money in a non-protected regional bank. So they'll have a negative interest margin, they'll lose money, they'll get downgraded, and they'll go out of business."
How do I even begin to tackle this mountain of debt on a single income with minimal child support help? Costas is the vice president of EP Wealth Advisors and a certified divorce Financial Analyst. The snowball method is about using small financial achievements to fuel larger ones. The sense of victory you will feel from paying off that small debt will help you feel you've conquered a challenge, which will go a long way in helping you summit the $60,000 mountain of debt in your path. Ways to make your money go furtherKennedy also encouraged you to start saving money while you continue prioritizing paying down debt.
Billionaire investor Bill Ackman posted a lengthy tweet about the Silicon Valley Bank collapse Saturday. Ackman criticized the response of the federal government and its lack of monitoring SVB for risk. He said the government has "about 48 hours to fix a-soon-to-be-irreversible mistake" with its handling of SVB. "The gov't has about 48 hours to fix a-soon-to-be-irreversible mistake," Ackman tweeted in a lengthy post Saturday morning. In Ackman's view, this could lead to the collapse of several other smaller banks around the country.
Ritchie Brothers Auctioneers Inc's shares (RBA.TO) rose 3.1% as two leading proxy advisory firms recommended that shareholders vote against the asset management firm's planned takeover of U.S. auto retailer IAA Inc (IAA.N). ET (15:12 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 20.46 points, or 0.08%, at 20,602.04. The energy sector (.SPTTEN) and miners (.GSPTTMT) fell 0.9% each, tracking declines in commodity prices after China over the weekend set a lower-than-expected gross domestic product target of 5%. "The commodity stocks are weighing on the index because China is forecasting growth for the upcoming year not as high or as we would have anticipated," said Allan Small, senior investment advisor at Allan Small Financial Group. Reporting by Johann M Cherian in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
ET (1505 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 38.76 points, or 0.19%, at 20,398.86 - a six-week high. Investors will focus on December inflation data due on Tuesday, with economists polled by Reuters forecasting a 6.4% rise on an annual basis. "We're going to have the CPI report, so that'll be crucial, giving us an indication how the fight against inflation is going," said Allan Small, senior investment advisor at Allan Small Financial Group. The energy sector (.SPTTEN), financial (.SPTTFS) and technology stocks (.SPTTTK) gained between 0.2% and 0.4%. Investment management company Colliers International Group (CIGI.TO) gained 3.3% after Scotiabank upgraded the stock to "outperform".
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[1/2] The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 22.12 points, or 0.1%, at 19,947.07, its lowest closing level since Nov. 17. For the week, the index was down 2.6%, its biggest weekly decline since September. The Toronto market's energy sector fell 0.7% as U.S. crude oil futures settled 0.6% lower at $71.02 a barrel. Reporting by Fergal Smith; Additional reporting by Shashwat Chauhan in Bengaluru Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.
Profit from personal and commercial banking for RBC and National Bank in the quarter grew 5% and 13%, respectively. RBC earmarked C$381 million in provisions for credit losses (PCL), compared with a C$227 million release last year. National Bank reported C$87 million versus a C$41 million release a year ago. Shares of RBC, which agreed to buy HSBC's (HSBA.L) Canadian business on Tuesday, were down 1.4%, while National Bank fell nearly 4%. National Bank, on the other hand, posted an adjusted profit of C$2.08 per share, below analysts' expectation of C$2.24.
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