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The Best 2% Cash Back Credit Cards of March 2023In terms of versatility, cash back is the most flexible credit card reward. The Best 2% Cash Back Credit CardsBest all-around 2% cash rewards credit card Wells Fargo Active Cash® Card 4.3 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.3 out of 5 Stars Intro offer $200 cash rewards bonus after spending $1,000 in purchases in the first three months from account opening Rewards Earn unlimited 2% cash rewards on purchases. Best All-around 2% Cash Rewards Credit CardThe Wells Fargo Active Cash® Card has no annual fee and earns a flat 2% cash rewards on purchases. Wells Fargo Active Cash card reviewBest 2% Cash Back Card for Balance TransfersLong considered the best cash back credit card, the Citi® Double Cash Card still holds its own despite new offerings from other issuers. How to Choose a 2% Cash Back Credit Card2% cash back credit cards offer some of the simplest credit card rewards around, and they're great for people who don't want to deal with bonus categories, transferring points, or shuffling several cards to get the best return on spending.

☆ Explainer: What caused Silicon Valley Bank's failure?
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +2 min

Here is the sequence of events that led to Silicon Valley Bank's failure:FEDERAL RESERVE RAISES RATESThe Federal Reserve has been raising interest rates from their record-low levels since last year in its bid to fight inflation. This weighed on technology startups - the primary clients of Silicon Valley Bank - because it made their investors more risk-averse. SOME SILICON VALLEY BANK CLIENTS FACE CASH CRUNCHAs higher interest rates caused the market for initial public offerings to shut down for many startups and made private fundraising more costly, some Silicon Valley Bank clients started pulling money out to meet their liquidity needs. This culminated in Silicon Valley Bank looking for ways this week to meet its customers' withdrawals. SILICON VALLEY BANK SELLS BOND PORTFOLIO AT A LOSSTo fund the redemptions, Silicon Valley Bank sold on Wednesday a $21 billion bond portfolio consisting mostly of U.S. Treasuries.

☆ Blackstone blocked investor withdrawals from $71 billion REIT in February
▼ + stars: | 2023-03-01 | by ( Chibuike Oguh | ) www.reuters.com time to read: +1 min

NEW YORK, March 1 (Reuters) - Blackstone Inc (BX.N) said on Wednesday it had blocked investors from cashing out their investments at its $71 billion real estate income trust (BREIT), as the private equity firm continues to grapple with a flurry of redemption requests. BREIT said it fulfilled redemption requests of $1.4 billion in February, which represents only 35% of the approximately $3.9 billion in total withdrawal requests for the month, the firm said in a letter to investors. Total BREIT redemption requests had reached approximately $5.3 billion in January, which is 26% lower than the amount received in February, the firm said. Blackstone expects to continue dealing with investor redemptions because some BREIT investors are making larger withdrawal requests in anticipation of a reduction in its size, its President Jonathan Gray told an earnings call last month. Reporting by Chibuike Oguh in New York; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Man Group shares surge on bumper performance fees
▼ + stars: | 2023-02-28 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

A September rout in British gilt markets drove many UK pension funds to scour for cash, after investments into liability-driven investment (LDI) funds resulted in billions of pounds worth of collateral calls. Many pension funds reached for profitable investments they had elsewhere, like hedge funds as well as investments into collateralised loan obligations. Some of the strategies from which investors withdrew money were posting double digit returns at the time, he added. He declined to say how much money he'd seen back from pension schemes this quarter. Separately, Man said its chairman John Cryan had decided to retire from the board towards the end of 2023.

☆ Man Group beats AUM expectations, posts higher performance fees
▼ + stars: | 2023-02-28 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

The company posted full year core pretax profit of $779 million, up 18% on the previous year. It recorded a core net management fee growth of 6% collecting $779 million of core performance fees. "An increase in volatility and higher dispersion meant higher alpha generation. The firm recorded net inflows of $3.1 billion for 2022, down 77% against a year earlier, although this was 5.3% higher than the average posted by the UK hedge fund industry. Many pension funds reached for profitable investments they had elsewhere, like hedge funds as well as investments into collateralised loan obligations.

☆ Brazil's public sector gross debt down to 73.1% of GDP in January
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

BRASILIA, Feb 28 (Reuters) - Brazil's gross debt continued its downward trajectory in January, while the consolidated public sector recorded a strong primary surplus, showed central bank data on Tuesday. In January, the Brazilian public sector recorded a primary surplus of 99 billion reais ($19 billion), surpassing the 90 billion reais surplus expected by economists polled by Reuters. However, the figure was lower than the 101.8 billion reais surplus in the same month last year. The performance was mainly driven by the 79.4 billion reais surplus from the central government, helped by record revenues for the month. States and municipalities recorded a primary surplus of 21.8 billion reais, while state-owned companies had a deficit of 2.2 billion reais, said the central bank.

Feb 25 (Reuters) - Blackstone Inc (BX.N) Chief Executive Officer Steve Schwarzman took home about $1.26 billion in pay and dividends for 2022, a regulatory filing showed. Schwarzman received more than $1 billion in dividends from his Blackstone shares and $253.1 million in compensation, filing showed on Friday. Goldman Sachs Group Inc (GS.N) slashed compensation for CEO David Solomon by 29% to $25 million for 2022, while JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon's total compensation was unchanged at $34.5 million. Schwarzman owns about 230 million shares in Blackstone according to a filing from February, and the company paid $4.40 in annual dividend, filings showed. Blackstone ended the quarter with $974.7 billion of total assets under management and declared a quarterly dividend of 91 cents per share.

☆ U.S. Bank unveils Business Altitude Connect card with a 60,000-point bonus, lounge access and more
▼ + stars: | 2023-02-23 | by ( Jason Stauffer | Elizabeth Gravier | ) www.cnbc.com time to read: +3 min

If you're looking for a card to help maximize your business travel spending, here's everything you need to know. The U.S. Bank Business Altitude™ Connect World Elite Mastercard® has a welcome offer of 60,000 bonus points after spending $6,000 in net purchases with your card within the first 180 days of account opening. The U.S. Bank Business Altitude Connect card features benefits and bonuses to help you make the most of your travels. That makes the 60,000 welcome bonus worth $600, which is a good offer considering the card's annual fee is $0 for the first year. The Chase Ink Business Preferred® Credit Card has a welcome offer of 100,000 bonus points after you spend $15,000 on purchases in the first three months from account opening.

Joseph HostetlerThe Capital One VentureOne Rewards Credit Card comes with 40,000 miles after spending $1,000 on purchases within three months from account opening. There are many fun things you can do with the Capital One VentureOne Rewards Credit Card bonus — from free flights to free hotel stays and more. There are two reasons Capital One VentureOne Rewards Credit Card is the best offer we've ever seen on a no-annual-fee credit card. With the Capital One VentureOne Rewards Credit Card bonus, you could transfer 36,000 Capital One miles to British Airways for two round-trip tickets and have a Caribbean getaway with your travel buddy. What you need to know about the Capital One VentureOne bonusThe 40,000-mile bonus that comes with the Capital One VentureOne Rewards Credit Card is worth $400 in travel at the very least.

WASHINGTON, Feb 23 (Reuters) - Top U.S. banking regulators issued a fresh warning to banks to be on guard for any liquidity risks from cryptocurrency-related clients, cautioning some of their deposits could prove volatile. The agencies noted deposits placed with banks for the benefit of crypto consumers, as well as stablecoin reserves, could be subject to rapid outflows. Regulators said the new statement was spurred by "recent events" in the crypto sector that highlighted volatility risks. But regulators expressing concerns about the stability of those reserves could cause banks to further examine their relationship with stablecoin firms. The statement noted that stablecoin reserves could see large and rapid outflows in cases of unanticipated stablecoin redemptions and turmoil in crypto markets, for example.

☆ India setting up $4 bln fund to backstop corporate debt market
▼ + stars: | 2023-02-17 | by ( Jayshree Pyasi | ) www.reuters.com time to read: +2 min

Feb 17 (Reuters) - India is setting up a fund worth 330 billion rupees ($4 billion) to provide liquidity to its corporate debt market during bouts of stress, to help stem panic selling and ease redemption pressures, an SBI Mutual Fund executive told Reuters. During times of stress, the backstop fund could step into the market to buy relatively illiquid investment grade bonds. "This backstop facility fund comes out of Indian market peculiarity that the bonds are investment grade and still illiquid," said Anubhav Shrivastava, partner, Infinity Alternatives, an alternate investment fund (AIF). "The market for secondary corporate bonds is thin which is why we need the buyer and seller of last resort, the backstop fund will do this." The fund is small relative to 39 trillion rupees ($471 billion) Indian corporate bond market, but its size could be increased later, the source said.

☆ 5 reasons to get the Chase Freedom Unlimited
▼ + stars: | 2023-02-16 | by ( Holly Johnson | ) edition.cnn.com time to read: +10 min

Exceptional earning rates for the first yearThe Chase Freedom Unlimited isn’t currently offering a traditional sign-up bonus. Combine with a premium Chase travel card for even better redemptionsIf you already have a premium Chase travel credit card like the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®, there’s another good reason to pick up the Chase Freedom Unlimited. That means you could get as much as 1.5 cents per point if you combine your Chase Freedom Unlimited rewards with a Chase Sapphire Reserve. If your flight is interrupted or cancelled due to severe weather or other eligible reasons, the Chase Freedom Unlimited can help cover unanticipated expenses. Why you shouldn’t get the Chase Freedom UnlimitedClearly, there are plenty of reasons to sign up for the Chase Freedom Unlimited, but why wouldn’t you want it?

Review: Is the Bank of America Customized Cash Rewards Secured Credit Card the Best Credit Card for You? You'll also want to compare the Bank of America® Customized Cash Rewards Secured Credit Card to other secured credit cards, such as the Capital One Quicksilver Secured Cash Rewards Credit Card and Discover it® Secured Credit Card. Insider's Featured Secured Credit Cards Discover it® Secured Credit CardCapital One Platinum Secured Credit CardCapital One Quicksilver Secured Cash Rewards Credit Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Compare Bank of America Customized Cash Secured vs Other Bank of America Secured Credit CardsBank of America® Customized Cash Rewards Secured Credit Card Bank of America® Unlimited Cash Rewards Secured Credit Card BankAmericard® Secured Credit Card Annual fee $0 $0 $0 Minimum security deposit $200 $200 $200 Rewards rate 3% cash back* in one category you choose each calendar month*** 2% cash back at grocery stores and wholesale clubs* 1% cash back on all other purchases 1.5% cash back on all purchases N/A Card benefits Refundable security deposit Refundable security deposit Refundable security deposit*On the Bank of America® Customized Cash Rewards Secured Credit Card, earn 3% and 2% cash back on up to the first $2,500 spent in these categories combined each quarter, then 1% cash back***Eligible Bank of America® Customized Cash Rewards Secured Credit Card 3% categories are gas, online shopping, dining, travel, drug stores, or home improvement/furnishingsBank of America Customized Cash Secured vs Secured Credit Cards From Other BanksBank of America® Customized Cash Rewards Secured Credit Card Capital One Quicksilver Secured Cash Rewards Credit Card Discover it® Secured Credit Card Annual fee $0 $0 $0 Minimum security deposit $200 $200 $200 Rewards rate 3% cash back* in one category you choose each calendar month*** 2% cash back at grocery stores and wholesale clubs* 1% cash back on all other purchases 5% cash back on hotels and car rentals booked through Capital One Travel 1.5% cash back on all other eligible purchases 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter (then 1%) 1% cash back on all other purchases with no limit Card benefits Refundable security deposit No foreign transaction fees Automatic consideration for credit line increases Refundable security deposit No foreign transaction fees Automatic consideration for credit line increases Refundable security deposit Review Capital One Quicksilver Secured card review Discover it Secured card reviewBank of America Customized Cash Rewards Secured Card Frequently Asked Questions (FAQ)What credit score do I need to be approved for the Bank of America Customized Cash Rewards Secured card? You don't need a good credit score to qualify for the Bank of America® Customized Cash Rewards Secured Credit Card.

☆ Adani Group likely to repay short-term commercial paper borrowings - bankers
▼ + stars: | 2023-02-14 | by ( Bhakti Tambe | ) www.reuters.com time to read: +3 min

Adani Enterprises and Adani Ports and Special Economic Zone Ltd (APSE.NS) regularly raise funds by issuing CPs – short-term debt instruments issued to meet working capital requirements. "All payments are being made as per schedule," an Adani group spokesperson said in an e-mail, but did not respond to queries on whether investors are seeking early redemption. Adani Ports has CPs worth 35 billion rupees due to mature through end March, data from information service provider Prime Database showed. So, we may see them (Adani Group) staying away from the market for some time," said one banker, who regularly arranges debt issuances for the group. The Adani Group spokesperson denied media reports that these bond issues have been scrapped, saying this is "speculation" and "not true" in a reply to Reuters' mail.

☆ BUSD: US regulator orders Paxos to halt new issues of Binance-branded stablecoin
▼ + stars: | 2023-02-14 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —New York’s top financial regulator has ordered a crypto company to stop minting a major stablecoin, widening a clampdown on the embattled digital assets sector. Paxos also said it would “end its relationship” with Binance, the world’s largest crypto exchange. It did not say why the regulator had ordered it to stop issuing BUSD. Last week, the US Securities and Exchange Commission said overseeing crypto assets was a key priority for 2023. According to crypto advocates, the growing global clampdown could undermine the ecosystem for digital assets.

☆ Regulator Orders Crypto Firm Paxos to Stop Issuing Binance Stablecoin
▼ + stars: | 2023-02-13 | by ( Patricia Kowsmann | Caitlin Ostroff | ) www.wsj.com time to read: 1 min

BUSD, also known as Binance USD, is a stablecoin backed by U.S. dollars on a one-to-one basis. New York regulators directed a crypto company to stop issuing one of the largest dollar-pegged cryptocurrencies, as a government clampdown on the sector widens. The New York Department of Financial Services ordered Paxos Trust Co., which issues and lists Binance’s dollar-pegged cryptocurrency, to stop creating more of its BUSD token, Binance said in a statement. Paxos will continue to manage redemptions of the product, the crypto exchange added.

☆ Crypto Firm Paxos to Stop Issuing Dollar-Pegged Binance Token
▼ + stars: | 2023-02-13 | by ( Patricia Kowsmann | Caitlin Ostroff | ) www.wsj.com time to read: 1 min

New York regulators directed a crypto company to stop issuing one of the largest dollar-pegged cryptocurrencies, as a government clampdown on the sector widens. The New York Department of Financial Services ordered Paxos Trust Co., which issues and lists Binance’s dollar-pegged cryptocurrency, to stop creating more of its BUSD token. Paxos will continue to manage redemptions of the product, according to a Binance statement.

You can earn Marriott points from paid stays, co-branded credit cards, or flexible points transfers. How to earn Marriott pointsEarn points from Marriott Bonvoy hotel staysThere are plenty of different ways to earn Marriott points, but let's start with the simplest: earning points on hotel stays. Award can be used for one night (redemption level at or under 85,000 Marriott Bonvoy points) at hotels participating in Marriott Bonvoy®. Awards can be used for one night (redemption level at or under 35,000 Marriott Bonvoy® points) at hotels participating in Marriott Bonvoy®. 6X Marriott Bonvoy Points on purchases at hotels participating in Marriott Bonvoy4X Marriott Bonvoy Points on up to $15,000 in combined purchases per year at restaurants worldwide and at U.S. supermarkets2X Marriott Bonvoy Points on all other eligible purchases1,000 Marriott Bonvoy Bonus Points with each qualifying stayComplimentary Gold Elite statusA Free Night Award (redemption level at or under 50,000 Marriott Bonvoy Points) after making $15,000 in purchases per year.

☆ How to earn, redeem, and maximize Hilton Honors rewards points — from luxurious Conrad resorts to family-friendly Hampton Inns, there are options for every traveler
▼ + stars: | 2023-02-10 | by ( Carissa Rawson | Freelance Writer | Read More | ) www.businessinsider.com time to read: +44 min

How to earn Hilton rewards pointsHilton has two main categories of points: bonus points, which help you earn rewards via special promotions, and elite-qualifying base points. You can do so at the following ratios:HawaiianMiles : 1 HawaiianMile = 1.5 Hilton Honors points: 1 HawaiianMile = 1.5 Hilton Honors points Virgin Atlantic Flying Club: 1 Virgin Atlantic point = 1.5 Hilton Honors pointsEarn Hilton points through your elite statusJoining Hilton Honors can be especially lucrative if you're on the road often. Finally, Lyft and Hilton have teamed up to offer 3x Hilton Honors points on Lyft rides, or 2x Hilton points for shared Lyft rides. Redeem Hilton Honors points for event creditsIt's also possible to redeem your points for events at a Hilton, though this isn't generally considered a good way to maximize your Hilton points value. Here's how much the credits cost:25,000 points = $5050,000 points = $10075,000 points = $150125,000 points = $250250,000 points = $500Exchange Hilton points for airline milesIf you'd rather have airline or rail points, you have the option to transfer Hilton points to partner airlines, though redemption rates vary.

☆ Analysis: Investors seek uncorrelated assets on worries volatility will return
▼ + stars: | 2023-02-10 | by ( Laura Matthews | ) www.reuters.com time to read: +5 min

Yet some market participants are convinced the Federal Reserve’s fight against inflation will keep markets volatile and are allocating funds to so-called alternative investments. Those types of returns are not typical, however, and the performance of CTAs has been more muted in less volatile markets. Private markets raised $216.9 billion in 2022, putting assets at $1.4 trillion as at June 2022, from $311 billion in 2010, according to data provider Preqin. A 2023 study from State Street found that 68% of investors plan to increase their allocation to private markets in the next two to three years. "In that environment, stocks and bonds are likely to be more correlated."

Read our review Read Our Review A looong arrow, pointing rightThe Marriott Bonvoy Bold® Credit Card comes with an increased limited-time welcome bonus and good perks for a no-annual-fee card, but unless paying an annual fee is a dealbreaker for you, other Marriott cards — like the Marriott Bonvoy Boundless® Credit Card, Marriott Bonvoy Brilliant® American Express® Card, or Marriott Bonvoy Business® American Express® Card — are a better deal. Review: Is the Marriott Bonvoy Bold Credit Card the Best Credit Card for You? How to Earn Points With the Marriott Bonvoy Bold Credit CardThe Marriott Bonvoy Bold® Credit Card doesn't have as generous an earning structure as other Marriott credit cards, but you'll still have the opportunity to earn bonus points when you travel. Generally, the Marriott Bonvoy Bold® Credit Card requires a good to excellent credit score to be eligible, which means a FICO score of at least 670.Who is eligible for the Marriott Bonvoy Bold? You're also not eligible if you already have a Marriott Bonvoy Bold® Credit Card, Marriott Bonvoy Boundless® Credit Card, or Marriott Bonvoy® Premier credit card (not available to new applicants) open, or earned the welcome bonus from one in the past 24 months.

Each calendar year after spending $60,000 on eligible purchases, Card Members are eligible to select an Earned Choice Award benefit. Automatic Marriott Gold elite status (room upgrades and late checkout when available, bonus points on stays) Check mark icon A check mark. 1K Bonus Points Per Stay: Earn 1,000 Marriott Bonvoy® bonus points per paid eligible stay booked directly with Marriott for properties participating in Marriott Bonvoy. Cardholders receive automatic Hilton Gold status, which opens the door to perks like free breakfast (food and beverage credit at US hotels), bonus points, and room upgrades. With Gold status, you'll get perks like a 10% points bonus on paid stays, late checkout when available, and access to preferred rooms.

As a newly minted Airman, I was floored when I first found out about all the credit card perks active duty military members receive. Note that credit card lenders may use many different variations of credit score models when considering your application. Review: IHG Rewards Premier credit card reviewBest Discover Cards for Military MembersWhile Discover credit cards don't actually charge any annual fees — it's one of their hallmarks — they've outdone much of the competition by eliminating all over-limit and late fees for active-duty military credit cards. Review: Navy Federal Flagship Rewards credit card reviewBest Credit Cards for Active-duty Military Frequently Asked Questions (FAQ)Are military credit cards guaranteed approval? Military members will have their credit vetted just as anyone who applies for a credit card.

☆ European Central Bank raises rates by 50 basis points, pledges further hike in March
▼ + stars: | 2023-02-02 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Christine Lagarde, president of the European Central Bank speaks at an event. The move follows four hikes in 2022 which brought euro zone rates out of negative territory for the first time since 2014. It said keeping rates at restrictive levels would control price rises by dampening demand and keeping inflation expectations under constrained. The European Central Bank on Thursday confirmed expectations of a 50 basis point interest rate increase, taking its key rate to 2.5%. Euro zone inflation fell for the third straight month in January, flash figures published Wednesday showed, but headline inflation remained high at 8.5%.

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