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☆ The class of 2023 wants jobs that match their personal values and interests, even if it means less money
▼ + stars: | 2023-04-29 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

Today's college grads want work that speaks to their values and interests. Today's availability of jobs mean Gen Z can afford work that pays less. Not to mention, the rise of remote work means "you're not forced to live in the most expensive city," Krembs said. Companies are struggling to appeal to Gen ZJust after Gen Z started graduating from college and entering the workforce, large companies started making progressive commitments. Perhaps unsatisfied with the big companies on offer, Gen Z is taking on side hustles and freelancing to work towards their values and interests.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Quotes: Fed plans broad revamp of bank oversight in wake of SVB collapse
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +11 min

The assertion in the introduction that the Fed should focus on large bank capital requirements is disconnected from the report's conclusions. AMERICAN BANK ASSOCIATION PRESIDENT AND CEO ROB NICOLS"We take any bank failure seriously, and we will review the findings and proposed policy changes in these reports carefully, including where the conclusions may differ. JONATHAN MONDILLO, HEAD OF NORTH AMERICAN FIXED INCOME AT ABRDN"We're likely to see higher capital requirements. What that means for the overall markets is that the devil is in the details: how stringent those capital requirements will be. A potential First Republic Bank failure could similarly present a risk to the long-term investment strategy of high net-worth individuals."

☆ U.S. financial regulators to tighten rules on non-banks, systemic risks
▼ + stars: | 2023-04-21 | by ( David Lawder | ) www.reuters.com time to read: +4 min

WASHINGTON, April 21 (Reuters) - Top U.S. regulators on Friday proposed new rules to speed the assessment of financial stability risks and make it easier to designate non-bank institutions as systemically important, subjecting them to Federal Reserve supervision. The multi-regulator Financial Stability Oversight Council released the proposals for public comment just over a month after two regional bank failures sparked the biggest financial system contagion threat since the 2008 financial crisis. U.S. Treasury Secretary Janet Yellen has raised concerns about non-bank financial institutions, including hedge funds, because of their lack of supervision and the potential for systemic spillovers from firms in distress. NOT USHedge fund, mutual fund and asset manager trade groups responded by saying that regulators should look elsewhere for threats to financial stability. The new framework also specifies vulnerabilities that FSOC and member regulators would consider when evaluating potential stability risks.

☆ China keeps lending benchmarks unchanged amid signs of recovery
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI/SINGAPORE, April 20 (Reuters) - China kept its benchmark lending rates unchanged for the eighth straight month on Thursday in line with expectations, as the economic recovery reduced the need for any immediate monetary support. The one-year loan prime rate (LPR) was kept at 3.65%, while the five-year LPR was unchanged at 4.30%. The medium-term lending facility (MLF) rate now serves as a guide to the LPR. Markets mostly use the medium-term policy rate as a indication of likely changes to the lending benchmarks. "There might be cuts to deposit rate and 5-year LPR, so as to lower funding costs and support long-term business loans."

☆ Citi says it's time to reconsider ESG, naming 3 stocks that could soar by 30%
▼ + stars: | 2023-04-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

ESG investing underperformed the broader market in 2022, but strategists at Citi think the segment could be about to rebound. Last year, the MSCI Europe Socially Responsible Investing index declined by 13.4% compared to the 8.9% fall in the broader MSCI Europe index. But Citi said ESG stocks — or those which take environmental, social, and governance factors into account — have historically shown resilience, with profit growth outpacing the broader market during earnings slowdowns. In line with this renewed focus, Citi has identified a number of stocks that it expects to rebound this year. To identify ESG stocks with "resilient" earnings per share, Citi screened the Stoxx Europe 600 index for large-cap stocks meeting several proprietary criteria, including ranking in the top 50 percentile of Truvalue Labs ESG index.

☆ How to avoid the next crisis? Banks may have to hold more cash
▼ + stars: | 2023-04-12 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —Regulators must learn “important lessons” from this year’s banking turmoil, the world’s top financial watchdog has said. Requiring banks to hold more cash to pay out depositors may be one of them. External shocks that have roiled global markets in recent years include the coronavirus pandemic and Russia’s invasion of Ukraine. In other words, banks could be told to hold more assets that can be easily converted into cash to pay back creditors in times of crisis. In the United States, the Federal Deposit Insurance Corporation said it would guarantee all deposits held within Silicon Valley Bank, including those above $250,000 per person.

☆ These 7 global stocks are bucking the bearish trend, with analysts hiking price targets
▼ + stars: | 2023-04-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

"I think the analysts are a bit too optimistic. Despite this gloomy outlook, there are a handful of stocks that appear to be bucking the bearish trend. For investors with an appetite for U.S. stocks , the following table shows stocks that meet the same criteria in the S & P 500 . Delta Air Lines , also included on this list, stood out for having a 50% upside potential from its current share price. The stock, up 3.38% so far this year, is rated as buy or overweight by all 21 analysts covering it.

Media coverage of BDO's warning on March 1 prompted immediate questions from financial regulators, a March 6 letter to Reuters from Revolut shows. The letter did not address the banking licence application nor its status. "I would be astonished if the regulators go ahead with the banking licence," he added. Revolut applied for a banking licence about two years ago. With a banking licence, Revolut would become a more established player in the U.K. banking market and be able to draw more customers.

Etsy — The e-commerce company's shares rose 3.9% after Piper Sandler upgraded them to overweight from neutral. Virgin Orbit — The satellite launch company sank 14% in the premarket after filing for Chapter 11 bankruptcy protection. Tesla — Shares of the electric vehicle maker ticked up nearly 1% in premarket trading. Tesla stock declined 6.1% a day earlier, with investors seemingly responding to the company's vehicle delivery report from the weekend. The media company's shares have jumped 7.8% year to date.

☆ Here are Tuesday's biggest analyst calls: Apple, Amazon, Boeing, Chipotle, Rivian, Etsy, Exxon & more
▼ + stars: | 2023-04-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Piper Sandler reiterates Apple as overweight Piper said iPhone share remains at near record levels for Apple. Bank of America reiterates Endeavor as buy Bank of America said it's bullish on Endeavor's plan to merge WWE and UFC. Piper Sandler upgrades Etsy to overweight from neutral Piper said it sees "continued share gains" for the e-commerce company. Deutsche Bank reiterates Citizens Financial and PNC as buy Deutsche said it's cautious on bank stocks overall, but that it likes Citizens and PNC as top picks. Bank of America reiterates Analog Devices as buy Bank of America said Analog Devices has "best-in-class" free-cash flow returns.

Vahia is one among India’s young and aspirational 1.4 billion population, whose propensity for online spending has attracted global companies and digital platforms. And as private consumption underpins economic growth in India, financial investors are targetting new ways to tap into it. India's per capita consumption of food was at $314 in 2020 compared to $884 for China, while that of clothing stood at $53.9 versus $212.9 for China, data from CLSA showed. FOREIGN INVESTORS JUMP INWith private consumption accounting for 60% of India's $3.5 trillion GDP, foreign portfolio investors have been quick to latch on. To be sure, it has not been all smooth sailing for investors as they chased India's consumption boom.

☆ 'SVB's failure could and should have been prevented': Experts argue for better regulation and supervision by the Fed
▼ + stars: | 2023-04-03 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

Like any other trusted institutions, banks are capable of failing. "Silicon Valley Bank's failure could and should have been prevented by better regulation and supervision by the Federal Reserve," said Aaron Klein, a senior fellow of economic studies at the Brookings Institution. "What happened in Dodd-Frank was they said that all banks over $50 billion would be subject to enhanced prudential standards," explained Klein. "The rollback said nobody's subject to that between $50 billion and $100 billion, and between $100 billion and $250 billion, it is optional." "SVB happened to fall in that category of between $50 billion and $250 billion so when they raised that, they weren't subject to this great scrutiny," said Chittenden.

“I have argued for years that the biggest banks in the world are still too big to fail. In practice, however, the economic damage would be considerable.”Keller-Sutter was at the center of a government-orchestrated rescue of Credit Suisse by its larger rival UBS (UBS) earlier this month. They were designed to make it possible to wind down a big bank without destabilizing the financial system or exposing taxpayers to the risk of losses. Although some investors in Credit Suisse bonds lost everything, Swiss taxpayers are still on the hook for up to 9 billion Swiss francs ($9.8 billion) of potential losses arising from certain Credit Suisse assets. The rest is lent out at higher interest rates or invested, because that’s how big banks make most of their profit.

“I have argued for years that the biggest banks in the world are still too big to fail. In practice, however, the economic damage would be considerable.”Keller-Sutter was at the center of a government-orchestrated rescue of Credit Suisse by its larger rival UBS (UBS) earlier this month. Global standards for dealing with teetering “too big to fail” banks were key a part of the package of rules introduced after the global financial crisis. They were designed to make it possible to wind down a big bank without destabilizing the financial system or exposing taxpayers to the risk of losses. The rest is lent out at higher interest rates or invested, because that’s how big banks make most of their profit.

☆ Yellen says US bank rules may be too loose, need to be re-examined
▼ + stars: | 2023-03-30 | by ( David Lawder | ) www.reuters.com time to read: +5 min

REUTERS/Mary F. CalvertWASHINGTON, March 30 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Thursday that banking regulation and supervisory rules need to be re-examined in the wake of the Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O) failures to ensure current banking system risks are addressed. Yellen said a 2018 roll-back of bank capital requirements and stronger supervision for smaller and mid-size banks with assets below $250 billion should be re-examined. She added that regulatory reforms put in place after the 2008 financial crisis have helped the U.S. financial system weather shocks, including the COVID-19 pandemic. adding that the financial system was significantly stronger than it was 15 years ago. The multi-regulator Financial Stability Oversight Council's restored Hedge Fund Working Group will continue to monitor risks and develop policy recommendations, Yellen said.

☆ What to expect from the Senate hearings on recent bank failures
▼ + stars: | 2023-03-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +4 min

New York CNN —Silicon Valley Bank’s liquidity crisis and subsequent downfall sent waves of panic through the financial system in early March, setting off a chain reaction of chaos with which regional banks are still grappling. On Wednesday, the House Financial Services Committee will continue with their own line of questioning. Sen. Brown has called for the executives of Silicon Valley Bank to be held accountable for the bank’s failure. “Our banking system is sound and resilient, with strong capital and liquidity,” Barr said. The failures of SVB and Signature Bank, he wrote, “demonstrate the implications that banks with assets over $100 billion can have for financial stability.

☆ Andrew Bailey says Bank of England on high alert as investors 'test' banks
▼ + stars: | 2023-03-28 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

On Monday, European bank shares rose, boosted by news that First Citizens Bank in the United States would buy most of the assets of Silicon Valley Bank, which collapsed earlier this month. “I think there are moves in markets to, if you like, test out firms,” Bailey told a UK parliamentary committee Tuesday. José Manuel Campa, the head of the European Banking Authority, told Germany’s Handelsblatt Monday that European lenders remained vulnerable. The Swiss heavyweight was rescued by UBS, while SVB UK was bought by HSBC (HBCYF) for £1 after its US parent was shut by regulators. Despite being well-capitalized, SVB UK would not have survived the demise of its US parent, according to Bailey.

☆ Premarket stocks: Banking chaos could break the strong job market
▼ + stars: | 2023-03-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The job market has remained strong even as the Federal Reserve has spent a full year attempting to cool off the economy by raising interest rates. But economists think that the recent banking turmoil may be what finally raises unemployment. Even with those big job cuts, the labor market in the United States remains white hot. Since the pandemic, regional banks “have provided a vast majority of lending to small firms, underwriting local small business formation,” said Philip Wool, an analyst with asset manager Rayliant. AI will likely lead to job loss, they wrote, but technological innovation that initially displaces workers has historically created employment growth over long haul.

☆ Australia's key financial regulators to review global banking turmoil
▼ + stars: | 2023-03-28 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

SYDNEY, March 28 (Reuters) - Australian Treasurer Jim Chalmers will convene a meeting of the country's top financial regulators to check how the latest volatility in global financial markets could affect the country, an official in the treasurer's office said on Tuesday. Australia's Council of Financial Regulators (CFR) will meet on Thursday after Chalmers discussed the latest market turmoil in phone calls with U.S. Treasury Secretary Janet Yellen on Tuesday and European Central Bank President Christine Lagarde overnight. "It's clear from my conversations that international authorities are prepared to do what's necessary to reassure markets at a time of uncertainty and volatility," Chalmers said in a statement. The discussions with key global financial officials come ahead of meetings of the World Bank and the International Monetary Fund in Washington, D.C. from April 10 to 16, which Chalmers is expected to attend. Coordinated action by global central banks and international financial authorities have helped ease some concerns but the volatility is contributing to uncertainty more generally in the global economic outlook, Chalmers said.

Both Goldman and Fitch did not specify which small lenders were most vulnerable. The total exposure of the U.S. banking system to CRE loans was $2.5 trillion at the end of December, Fitch said. HEADWINDSThe CRE market faces headwinds that could hobble small banks. Rising interest rates have also depressed demand for CRE loans, while weighing on real estate investment trusts (REITs). Goldman's Viswanathan cited several indicators that reflected a weakening market for office real estate: declining occupancy rates, falling appraisal values and rising defaults.

The Fed's relentless rate hikes to rein in inflation have been partly blamed for sparking the biggest meltdown in the banking sector since the 2008 financial crisis. For now, Credit Suisse's rescue appears to have assuaged the worst fears of systemic contagion, boosting shares of European banks (.SX7P) and U.S. regional lenders. The S&P 500 banks index (.SPXBK) rallied 3.6%, its largest one-day gain since November. Still, Australia's prudential regulator has started asking the country's banks to declare their exposure to startups and crypto-focused ventures following the collapse of Silicon Valley Bank, according to the Australian Financial Review. Market cap of US regional banks included in the S&P 500 regional bank indexDeputy Treasury Secretary Wally Adeyemo said a review of the failures of Silicon Valley Bank and rival Signature Bank was in order.

☆ Australia regulator seeks risk reports from banks on startups, crypto -report
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, March 22 (Reuters) - Australia's prudential regulator has started asking the country's banks to declare their exposure to startups and crypto-focused ventures following the collapse of Silicon Valley Bank, according to the Australian Financial Review (AFR). The APRA declined to comment on the report but referred to its statement last week that it would intensify supervision of the local banking industry and seek more information on any potential impact from Silicon Valley Bank's collapse. ANZ Group Holdings (ANZ.AX) declined to comment, while Commonwealth Bank of Australia (CBA.AX), Westpac Banking Corp (WBC.AX) and National Australia Bank (NAB.AX) did not immediately respond to requests seeking comment. Treasurer Jim Chalmers last week said Australia was in a good position to withstand some of the market volatility because the country's banks were well capitalised, well regulated and had strong liquidity. Reporting by Renju Jose in Sydney; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Lightning Round: Reliance is good, Nucor's better
▼ + stars: | 2023-03-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Reliance is good, Nucor's betterMad Money host Jim Cramer weighs in on all manner of stocks, including Reliance Steel, Taiwan Semi, World Wrestling Entertainment, Blackstone, Prudential Financial, Catalent and Amazon.

☆ Elizabeth Warren demands Fed crackdown on large regional banks
▼ + stars: | 2023-03-22 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Senator Elizabeth Warren is cranking up the pressure on the Federal Reserve following the collapse of Silicon Valley Bank. Both Silicon Valley Bank and Signature Bank fit into that asset threshold when they failed earlier this month. The bipartisan 2018 rollback of Dodd-Frank freed large regional banks in that range of assets from the toughest oversight. Notably, the letter was signed by Senator Angus King, the Maine independent who voted in favor of the 2018 rollback. Days after the bank failures, the Federal Reserve launched a review of the regulation and oversight of Silicon Valley Bank.

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