Category: personal finance

SVB Asks Customers to Bring Their Money Back to ‘Support the Future of This Institution’

March 15, 2023
Business & MarketsCompaniesdepositorseconomic policieseconomyFDICInvestmentMarketspersonal financeSilicon Valley BankUS
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The Federal Deposit Insurance Corporation (FDIC) appointed a new head of what is now called the Silicon Valley Bridge Bank (SVB), who asked former customers to bring their money back to “support the future of this institution.” Tim Mayopoulos, who became the new CEO of SVB on Mar. 13, said that deposits held within the failed…

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Wholesale Inflation Falls, Retail Sales Slump, Investors Bet Fed Will Stop Hiking Rates

March 15, 2023
Business & MarketsCompanieseconomic policieseconomyFederal Reserveinflationpersonal financePolicies & ImpactsPPIproducer price indexrecessionretail salesUSUS News
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Wholesale inflation slowed sharply in February as retail sales turned negative, a sign that inflationary pressures may be easing and bolstering investor bets that the Federal Reserve will slow it blistering pace of interest-rate hikes as the economy cools. The Producer Price Index (PPI), which reflects prices charges by manufacturers, farmers, and wholesalers, fell by…

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Hunt Offers ‘Crowd-Pleaser’ Free Childcare in Run-Up to General Election

March 15, 2023
British General ElectionBusiness & Marketschildcareeconomic policieseconomyJeremy Huntpersonal financeRachel ReevesUKWorld
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Chancellor of the Exchequer Jeremy Hunt has extended subsidised childcare to children as young as 9 months old in what has been described by one economic expert as a “crowd-pleaser” in the run-up to the next general election. In a move which had been widely trailed in the media, Hunt announced in Wednesday’s Budget 30 hours a…

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Don’t Forfeit Your FSA Money

March 15, 2023
BrightFSApersonal financetaxWealth Management
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By Lisa Gerstner From Kiplinger’s Personal Finance Flexible spending accounts, or FSAs, allow employees of companies that offer the accounts to set aside pretax money from their paychecks for out-of-pocket health care or dependent care expenses. A little less than one-fourth of FSAs require account holders to spend all the money by the end of…

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Using AI for Employee Recruitment

March 15, 2023
AIBrightbudgetingFuture PlanningHR Departmentpersonal financerecruitersrecruitmentResumesUS
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When a job opens and is advertised, employers are inundated with hundreds of resumes. And 52 percent of talent acquisition leaders claim that screening all these candidates is the hardest part. To ease the recruitment load and speed up the hiring process, HR departments are using artificial intelligence (AI) to screen applicants. But how does…

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Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 14)

March 14, 2023
Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for April delivery fell $3.47 to $71.33 a barrel Tuesday. Brent crude for May delivery fell $3.32 to $77.45 a barrel. Wholesale gasoline for April delivery fell 4 cents to $2.55 a gallon. April heating oil fell 5 cents to $2.71 a gallon. April natural gas fell 4 cents to $2.57…

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Silicon Valley Bank Customers Stand in Line for Hours at Santa Clara Location

March 14, 2023
Business & MarketsCaliforniaCompanieseconomyInvestmentMarketsNorthern Californiapersonal financeRegional & State NewsSilicon Valley BankSilicon Valley Bank CollapseState NewsSVBSVB CollapseUS
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SANTA CLARA, Calif.—Silicon Valley Bank (SVB) customers lined up for hours in front of the bank’s HQ location in Santa Clara on March 13 to access their funds. Depositors rushed to the bank after the Federal Deposit Insurance Corporation (FDIC) stated in a press release that all assets—both insured and uninsured—would be available for transfer…

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Nearly 90 Percent of Seniors Say America Has Retirement Crisis: Survey

March 14, 2023
Business & Marketseconomic policieseconomyinflationpersonal financeretirement savingsSocial IssuesUS
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Nearly 90 percent of American seniors believe the United States is facing a retirement savings crisis, according to a recent survey. The American Advisors Group’s (AAG) found that 89 percent of seniors said they were worried that the United States is in the grip of a retirement savings crisis. AAG surveyed more than 1,500 seniors…

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Biden’s Proposed Cap Gains Tax Would Exceed 100 Percent

March 14, 2023
bidenBrightBusiness & MarketsBusiness ColumnistsCapital gainseconomic policieseconomyInvestmentpersonal financetaxtaxesUSUS NewsWealth Management
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President Joe Biden’s proposed capital gains tax increase could result in an effective tax rate of over 100 percent after adjusting for inflation, according to recent calculations by Laffer Associates. The increase would more than double the tax investors pay on investments held longer than one year. The proposal, outlined as part of Biden’s $6.8…

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Biden’s Proposed Cap Gains Tax Would Exceed 100 Percent: Economist

March 14, 2023
bidenBrightBusiness & MarketsBusiness ColumnistsCapital gainseconomic policieseconomyInvestmentpersonal financetaxtaxesUSUS NewsWealth Management
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President Joe Biden’s proposed capital gains tax increase could result in an effective tax rate of over 100 percent after adjusting for inflation, according to recent calculations by Laffer Associates. The increase would more than double the tax investors pay on investments held longer than one year. The proposal, outlined as part of Biden’s $6.8…

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