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UBS sells its 50% stake in Swisscard to American Express
  + stars: | 2024-10-21 | by ( ) www.cnbc.com   time to read: +1 min
UBS is offloading part of the Credit Suisse business it acquired last year with a deal to sell the fallen bank's 50% stake in credit card provider Swisscard. UBS will sell its 50% holding in the company to its joint venture partner American Express , Swisscard said in a statement. After the deal, Amex will become the sole owner of Swisscard, with Credit Suisse customers transferring to the existing UBS credit card platform. Swisscard said it would continue to issue all other cards it issues under the American Express, Mastercard and Visa licenses and will continue to operate the American Express business in Switzerland. Following its emergency takeover last year, UBS is now divesting parts of the Credit Suisse business.
Persons: Swisscard, Amex Organizations: UBS, Credit Suisse, American Express, Mastercard, Visa, Credit Suisse Securities Locations: Krakow, Poland, Switzerland, China, Swisscard
Investors might consider Treasury bills over CDs for better liquidity and tax benefits: Jason BrowneTreasury bills offer higher yields in some cases and are exempt from state taxes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Another reason is that Treasurys are exempt from state taxes, which vary, while CDs are not. Perhaps a third reason, depending on where you bank, is that in many cases the shortest duration Treasurys are paying better rates than CDs. Yields on 3-month bills are 4.6%, and while some banks are offering similar or slightly higher rates still, many have much less attractive yields.
Persons: Jason Browne, Browne, , DepositAccounts Organizations: Service, Alexis Investment Partners, LendingTree, Fed
The Tax Cuts and Jobs Act (TCJA), which took effect in the beginning of 2018, overhauled the federal tax code. It roughly doubled the standard deduction, adjusted individual income tax brackets , lowered most of the rates and applied a $10,000 cap on the state and local tax deduction. Mutual funds tend to have higher turnover – that is, buying and selling of underlying securities – and by law they must distribute capital gains. Meanwhile, income from Treasurys are subject to federal income tax, but exempt from state and local tax. Seek tax-efficient opportunities for your holdings Take a look at your portfolio and see whether there are opportunities for tax-advantaged yield, Woodard said.
Persons: Jared Woodard, Woodard, MLPA Organizations: Bank of America, Mutual, Bloomberg, ETF, SEC, Muni, MLP & Energy Infrastructure, Global, MLP, MLPX, & $ Locations: U.S
Chris Arjoon/AFP/Getty ImagesIt was Messi’s second hat-trick in four days, after scoring a treble and registering two assists for world champion Argentina against Bolivia on Wednesday. The Bahamian-born center was awarded the WNBA Finals MVP after averaging 17.8 points, 7.6 rebounds and 2.2 assists across the closely contested series. This year, the 2021 MVP managed to break both ducks and finally claim that elusive WNBA ring alongside the Finals MVP trophy. Jones now joins Australian Lauren Jackson and Belgian Emma Meesseman as the only non-American players to win a Finals MVP. Jones hoists the Finals MVP trophy postgame.
Persons: Lionel Messi, Harry Kane, Bayern Munich’s ‘, Jonquel Jones, Saquon Barkley, Lionel Messi Lionel Messi, Ballon d’Or, Messi, Luis Suárez, Xavier Arreaga, Suárez, Messi volleyed, Jordi Alba, Chris Arjoon, Jonquel Jones Jonquel Jones, Sabrina Ionescu, Jones, Lauren Jackson, Belgian Emma Meesseman, Wendell Cruz, Reuters Saquon Barkley Saquon Barkley, Barkley acrimoniously, Barkley, Al Bello, Bayern hadn’t, Vincent Kompany, Kane, Angelika Warmuth, Reuters Kane, Daria Kasatkina, Mirra, Kasatkina, Andreeva Organizations: CNN, Bayern Munich’s, WNBA, Giants, MetLife, Inter Miami, England, New, Barcelona, Messi, MLS, Argentina, Bolivia, New York Liberty, Liberty, Reuters, New York Giants, NFC East, Philadelphia Eagles, Bayern Munich, Stuttgart, Bundesliga, Leipzig, Bayern, Tottenham, Premier League, Ningbo, Kasatkina, Andreeva, Getty Locations: AFP, Brooklyn, New York, Belgian, Germany
Bitcoin at 3-month high as Trump odds drive currencies
  + stars: | 2024-10-21 | by ( ) www.cnbc.com   time to read: +3 min
Cryptocurrency bitcoin hit a three-month high in early Asia trading on Monday and the dollar looked set to extend its gains in markets counting down to the U.S. presidential election in two weeks. Bitcoin got a lift from Trump's improving prospects since his administration is seen as taking a softer line on cryptocurrency regulation. The clearest way to express the Trump tariff risk was to be long dollars versus the euro, Swiss franc and Mexican peso , he said. Brad Bechtel, global head of FX at Jefferies, also noted that rising real interest rates were helping the dollar along, particularly against those three currencies. "We expect this trend to continue straight into the election and if Trump wins, likely well after the election as well," Bechtel wrote.
Persons: Cryptocurrency bitcoin, Donald Trump, Bitcoin, Chris Weston, Pepperstone, Weston, Brad Bechtel, Bechtel Organizations: U.S, Trump, China, BTC, Swiss, FX, Jefferies Locations: Asia, U.S
The interjection came as King Charles and Queen Camilla visited the Australian capital Canberra to meet the nation’s leaders, including Prime Minister Anthony Albanese. Australian Senator Lidia Thorpe stages a protest as Britain's King Charles and Queen Camilla attend a Parliamentary reception in Canberra, Australia on October 21, 2024. “Throughout my life, Australia’s First Nations people have done me the great honor of sharing so generously their stories and cultures,” King Charles said. Before she yelled at the King, Thorpe turned her back during a recital of “God Save the King,” Australian media reported. King Charles III and Queen Camilla take part in a tree planting at Government House in Yarralumla on October 21, 2024 in Canberra, Australia.
Persons: Australia CNN — Britain’s King Charles III, , , Lidia Thorpe, King Charles, Queen Camilla, Anthony Albanese, Victoria Jones, Australia’s, ” King Charles said, King Charles III, Ngunnawal Elder, Serena Williams, Saeed Khan, Thorpe, Queen Elizabeth II, Dorinda Cox, Thorpe’s, Hephner, Brook Mitchell, Chloe Pailthorpe, Albanese, King, CNN’s Angus Watson Organizations: Australia CNN, Reuters, Nations, House, Defence, Fairbairn, Canberra Airport, British Crown, State, CNN, Greens, , Australian Monarchist League, Getty, Agence France, Presse, Botanic, Sydney, Opera, Government Locations: Brisbane, Australia, Canberra, British, Commonwealth, Sydney, Yarralumla, AFP, Samoa
A month after retiring from his 26-year career in law enforcement, Fred Jones moved from Florida to Thailand. Fred Jones and his wife left Florida and moved to Chiang Mai, Thailand, last year. Fred Jones. Fred Jones. Fred Jones.
Persons: Fred Jones, Chiang Mai, , " Jones, Chiang, Jones, familiarizing, They've, aren't, Johnny Ward, James Bond, John Walker, he's, you've Organizations: Service, Facebook, Google, Florida —, Registration Administration Locations: Florida, Thailand, Chiang Mai, Ecuador, Vietnam, Southeast Asia, Lake County , Florida, Bangkok, Thai, Doi Saket, Chiang Mai province, Italian, France , New Zealand, America, United States, Chiang, Asia
Ives: SAP will be a foundational player in the AI market.
  + stars: | 2024-10-21 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIves: SAP will be a foundational player in the AI market. Daniel Ives, Managing Director of Equity Research at Wedbush Securities, anticipates strong SAP growth in AI as 45% of workloads shift to the cloud, viewing SAP's earnings as a key indicator for Amazon and Google amid rising enterprise spending on AI.
Persons: Daniel Ives Organizations: Ives, SAP, Equity Research, Wedbush Securities, Google
The launch of margin trading follows the recent approval of the product, after Robinhood held conversations with Britain's financial regulator, the Financial Conduct Authority (FCA). Margin trading is a rarity in the U.K., where regulators see it as more controversial because of the risks involved to users. Some platforms in the country limit margin trading for only high-net-worth individuals or businesses. In the case of margin trading, investors can use borrowed money to increase the size of their trades. At the time of launch, Robinhood was unable to offer U.K. users the option of margin trading, pending discussions with the FCA.
Persons: Rafael Henrique, Robinhood, Jordan Sinclair, Goldman Sachs, Morgan Stanley, Sinclair, we've, Robinhood's Sinclair, that's Organizations: Getty, Financial, Authority, Interactive, IG, CMC Markets, Robinhood, JPMorgan Chase, UBS, CNBC, FCA, U.S ., Federal Deposit Insurance Corporation Locations: U.S, Britain, Tesla
First, higher interest rates will reward savers, making it more expensive to take risks. And with interest rates so low, companies could suddenly load up on debt: From 2007 to 2017, global nonfinancial corporate debt doubled, to $66 trillion. Now, with the arrival of a new supercycle, money managers are once again being forced to adapt to a changing set of economic realities. Normally, when the Fed hikes interest rates rapidly, the stock market tanks. Rising interest rates will make loans more expensive, forcing businesses to make more-thoughtful decisions about debt.
Persons: Josh Hirt, Silas Myers, Myers, Hirt, you've, Joe Quinlan, they'll, Quinlan Organizations: Investors, Vanguard, Mar Vista Investments, Federal Reserve, Capital, . Venture, Nasdaq, Bank of America, Big Tech, Federal Trade Commission, Treasury, European Union, Aerospace Locations: Washington, China, Unemployment, Europe, America, Japan, United States
30-Year Mortgage RatesAverage 30-year mortgage rates are close to 6.20%, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.
Persons: they've, Fannie Mae, you'll, Freddie Mac, it's Organizations: Federal, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: homebuyers, Chevron
LONDON — King Charles III has expressed “deep love and affection” for Australia, a former part of the British Empire. Charles, 75, is Britain’s first reigning monarch to visit Australia in 13 years. The royal visit to Australia includes a Monday reception at Parliament House in Canberra, the capital, where the king will meet with Albanese. King Charles and Queen Camilla are greeted upon their arrival at Sydney International Airport on Friday. King Charles is projected on the Sydney Opera House ahead of his official visit on Friday.
Persons: Charles III, , Charles, Queen Camilla, Queen Elizabeth II, Charles ’, Anthony Albanese, Albanese, King Charles, Saeed Khan, Queensland Premier Steven Miles, Western Australia Premier Roger Cook, South Australia Premier Peter Malinauskas, Chris Minns, Jeremy Rockliff, Bev McArthur, , , ” Nathan Hansford, Nathan Ross, Queen Camilla “, ” Charles, Daisy McAndrew, David Gray, Eric Abetz, ” McArthur Organizations: Commonwealth, House, Tasmania —, Sydney International Airport, Getty, Queensland Premier, Western Australia Premier, South Australia Premier, New South Wales, Tasmania, Australian Monarchist League, Australian Republic Movement, ARM, NBC News, Sydney Opera House, Sydney Opera Locations: Australia, British, Sydney, Samoa, Britain, Canada, Canberra, South Wales, Victoria, Queensland, Western Australia, South Australia, Tasmania, AFP, New, U.S, Commonwealth, Tasmanian, Caribbean, Barbados
Sydney Reuters —Britain’s King Charles and Queen Camilla met large, cheering crowds in Sydney after attending a church service on Sunday, the first event of their Australia tour. The royal couple were greeted at St Thomas’ Anglican Church by the archbishop of Sydney, Kanishka Raffel, and children from the church’s Sunday school who waved Australian flags. Traveling across Sydney Harbour, Charles visited the New South Wales parliament, marking the 200th anniversary of Australia’s oldest legislature. He will attend the Commonwealth Heads of Government Meeting in Samoa after the six-day Australia tour. King Charles III, Queen Camilla and Anglican Archbishop of Sydney Reverend Kanishka Raffel attend a church service at St. Thomas's Anglican Church on October 20, 2024 in Sydney, Australia.
Persons: Sydney Reuters — Britain’s King Charles, Queen Camilla, Kanishka Raffel, Camilla, Anna Valentine, Ellie Mantle, ” Camilla, Charles, Australia’s, , King Charles III , Queen Camilla, Sydney, Dean Lewins Organizations: Sydney Reuters —, St Thomas ’ Anglican, New South, Church, Association of Commonwealth Universities Locations: Sydney, Australia, Britain, Australia’s, Sydney Harbour, New South Wales, Samoa, St, Thomas's, Pacific, Commonwealth
Former President Donald Trump on Saturday railed against fellow billionaire Mark Cuban, who has been vigorously campaigning for his Democratic opponent, Vice President Kamala Harris. "Mark Cuban is a Loser," Trump wrote in a Saturday Truth Social post. Trump's insults come several days after Cuban mocked the Republican presidential nominee's tariff proposals at a Harris campaign rally. This election cycle, Cuban has become a regular Harris campaign surrogate as the vice president works to frame herself as a pro-growth capitalist. Meanwhile, Trump has enlisted Elon Musk as his own mega-billionaire campaign surrogate, fueling another rivalry with Cuban.
Persons: Donald Trump, Mark Cuban, Kamala Harris, Trump, he's, Cuban, Hillary Clinton, Harris, Gary Gensler, Elon Musk, Bill Maher Organizations: Democratic, White, Republican, Cuban, Fox, Securities, Exchange Locations: China, Wisconsin
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix is a company on a decelerating trajectory, says Rosenblatt's Barton CrockettBarton Crockett, Rosenblatt Securities senior analyst, joins 'Squawk Box' to break down Netflix's quarterly earnings results, growth outlook, and more.
Persons: Rosenblatt's Barton Crockett Barton Crockett Organizations: Netflix, Rosenblatt Securities
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA's Vivek Arya makes the bullish case for Nvidia, says generative AI is a long-term playVivek Arya, BofA Securities senior semiconductor analyst, joins 'Power Lunch' to discuss the bull case for Nvidia.
Persons: Vivek Arya Organizations: Nvidia, BofA Securities
The healthcare market looks nearly ready for the next wave of IPOs. But the next wave of public healthcare companies looks to be on the horizon. At least two healthcare companies are considering public-market debuts in the not-so-distant future. SVB SecuritiesI spoke with him about what the next wave of healthcare IPOs could bring — and which healthcare startups are in the best position to test the public markets. What models do you expect the healthcare market to favor in this next round of IPOs?
Persons: Jon Swope, , It's, Health confidentially, haven't, there's, Waystar, healthtech Organizations: Barclays, Service, Health, healthtech, SVB Securities, Accolade, Healthcare, Walmart, Big Tech Locations: IPOs, healthtech, Waystar
See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Refinance Rates? Current 30-Year Mortgage RatesAverage 30-year mortgage rates are around 6.15%, according to Zillow data. In September, 30-year refinance rates averaged 5.89%, while 15-year refinance rates were around 5.19%. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Now that the Fed has cut rates, mortgage rates may not drop much in October.
Persons: you'll, Freddie Mac, it's, they've Organizations: Traders, Zillow, Fed Locations: Chevron
Red Bull is no longer dominantMax Verstappen and Red Bull Racing haven't been as dominant this season. Dan Istitene/Getty ImagesIn a surprising midseason driver swap, Daniel Ricciardo was cut from RB F1, Red Bull Racing's sister team. Audi / Getty ImagesLast week, Toyota announced it would return to Formula 1, joining forces with the Haas F1 team. Audi is poised to join Formula 1 in 2026, taking over the Stake F1 Team Kick Sauber. The American manufacturer Ford also plans to partner with Red Bull in 2026 to provide the team with power units.
Persons: It's, Lewis Hamilton, Bryn Lennon, Mercedes, , Red Bull, Max Verstappen, haven't, Mark Thompson, McLaren's Lando Norris, Verstappen, Verstappen hasn't, Red, Christian Horner, Adrian Newey, McLaren, Andrea Stella, Lando Norris, Song, Oscar Piastri, Bull, Aston Martin, Adrian Newey Adrian Newey, Bradley Collyer, he'd, Lawrence, Fernando Alonso, Daniel Ricciardo, Daniel Ricciardo's, Dan Istitene, Ricciardo, Yuki Tsunoda, Andrea Kimi Antonelli, Oliver Bearman, Joe Portlock, Liam Lawson, Ferrari's Carlos Sainz, Jack Doohan, they're, Ford Organizations: Ferrari, Mercedes, Red, Miami Grand Prix, Miami Grand, McLaren, Aston, Red Bull, RB F1, Netflix, NASCAR, Alpine, Audi, Getty, Toyota, Haas F1, Haas, Formula, Stake Locations: British, Hamilton, Red, New Zealand
But there has been a surge in actively managed ETFs as investors seek lower costs and more precision, experts say. Active ETFs represented just more than 2% of the U.S. ETF market at the beginning of 2019. There are a few reasons for the active ETF growth, experts say. Still, only a fraction of issuers have been successful in the active ETF market. Active ETFs allow 'tactical adjustments'While passive ETFs replicate an index, such as the S&P 500 , active managers aim to outperform a specific benchmark.
Persons: Morningstar, Stephen Welch, Welch, Jon Ulin Organizations: Getty, Exchange, U.S, Morningstar, U.S . Securities, Exchange Commission, Ulin, Wealth Management Locations: Boca Raton , Florida
"It was for the ETF wrapper," she told CNBC on stage at the Permissionless Conference in Utah. The total market cap of all eleven spot bitcoin ETFs now tops $63 billion, with total flows of nearly $20 billion. Of the 80% of direct investors, Cohen told CNBC that 75% had never before owned an iShare, one of the best-known and largest ETF providers on the planet. "As it turns out, we have done a lot of education of crypto investors on the benefits of the ETP wrapper." Before the U.S. Securities and Exchange Commission green-lit spot bitcoin funds in January, investors had a few ways to buy and custody cryptocurrencies.
Persons: Samara Cohen, Cohen, Bitcoin, Coinbase, bitcoin ETPs Organizations: BlackRock, CNBC, Permissionless Conference, U.S . Securities, Exchange Commission Locations: U.S, Utah, Wall
The onshore yuan ticked 0.06% higher to 7.1199 per dollar, while its offshore counterpart rose 0.12% to 7.1282. Data on Thursday showed U.S. retail sales growth was higher than expected and the ECB cut interest rates by 25 basis points. "All of that has played in to a stronger dollar," said Jason Wong, senior strategist at BNZ in Wellington. The New Zealand dollar was similarly eyeing a 0.75% fall for the week and was little changed at $0.6063 in the Asia session. The U.S. dollar index hit a 2-1/2 month high of 103.87 on Thursday and is up nearly 0.8% forthe week thus far.
Persons: Donald Trump, Ho Woei Chen, Jason Wong, There's, Yahya Sinwar, Israel's, Benjamin Netanyahu, Sterling Organizations: European Central Bank, People's Bank of China, Securities, Fund, Insurance, ECB, Reuters, Trump, New Zealand, Bank of England, U.S Locations: Asia, China, Wellington, U.S, Israel, Gaza
Lesley Kerl met King Charles in Sydney during his last trip to Australia in April 2018. Pool via Nine NewsAfter Australia, King Charles will head to Samoa to join world leaders at the biennial Commonwealth Heads of Government Meeting (CHOGM), his first as head of the organization. “We’d love to wave goodbye to royal reign,” Nathan Hansford, co-chair of the Australian Republic Movement, told Reuters. The Australian Republic Movement launched a "farewell Oz tour" for King Charles ahead of his visit. He seems to have put that on hold to come out to Australia, as part of the Commonwealth,” McArthur said.
Persons: Australia CNN —, Charles, Camilla, Lesley Kerl, Kerl, King, , , King Charles, there’ll, , ” Nathan Hansford, Bev McArthur, ” McArthur, She’s, McArthur, Anthony Albanese, lauding, Queen Elizabeth II, Duke, Edinburgh, George Gross, Charles III, Thibaud Moritz, They’ll, Albanese –, Georgina Long, Richard Scolyer –, They’re, Scolyer, King George VI, I’ve, Anne Organizations: CNN’s Royal, Australia CNN, Government, Republicans, Australian Republic Movement, Reuters, The Australian Republic Movement, Commonwealth, Aboriginal, Torres Strait, Sports, Fox, King’s College London, Getty, Canberra, Australian, Torres, Opera, New Locations: Brisbane, Australia, Sydney, Commonwealth, Samoa, Windsor, Normandy, , Germany, France, Kenya, United Kingdom, New Zealand, Charles, Torres Strait, New South Wales
9 Danielle Collins has postponed her retirement from the sport and will be back competing on the WTA Tour in 2025. I will be back on tour in 2025. While there are no guarantees in life, I hope to build on my 2024 momentum and keep playing until there is more certainty around my personal fertility journey. Collins has lost in the opening round of the three tournaments she has played since losing in the quarterfinals of the Paris Olympics, including her home US Open. Collins last played at the Guadalajara Open in September but has been named in the USA’s United Cup team starting on December 27.
Persons: Danielle Collins, Collins, , I’ve, ” Collins, Iga, , Caroline Dolehide, Ben Stiller’s ‘, Gaylord ‘ Greg ’ Focker Organizations: CNN, WTA, American, Miami, Charleston, Paris, United Locations: Flushing Meadows, Guadalajara
Price of gold is proving an unstoppable force lately
  + stars: | 2024-10-18 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Gold recently regained momentum after the Federal Reserve began its easing cycle with a half-percentage point rate cut last month. However, the latest upturn comes despite rebounds in Treasury yields and the U.S. dollar too, which might be expected to take the wind from gold's sails. Higher yields typically make gold less attractive, as the metal doesn't offer any yield. The 10-year Treasury yield has soared to 4.08% from around 3.7% over the past month. The dollar index, which tracks the U.S. currency's performance against the euro, Japanese yen and others, is up nearly 3% over the past month.
Persons: Gold, Andrew Brenner, Tim Hayes, Ned Davis, Hayes Organizations: Federal Reserve, U.S, NatAlliance Securities, Ned, Ned Davis Research, Treasury Locations: NatAlliance
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