The numbers: Mortgage rates inched toward 7% as strength in the U.S. economy prompted investors to expect another rate hike by the Federal Reserve. The 30-year fixed-rate mortgage averaged 6.79% as of June 1, according to data released by Freddie Mac on Thursday.  That was up 22 basis points from…

Hiring tapered off a bit in May and inflation increased at a slower pace, a Federal Reserve survey found, but the U.S. economy expanded again and suggested growth is unlikely to slow enough to ease stubbornly high price pressures. The Fed’s regular survey of the economy, known as the Beige…

© Reuters. FILE PHOTO: A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse (This May 15 story has been corrected to remove references to investment bankers being in telecom, media and technology sectors in the headline and paragraph 1) By Milana Vinn and…

WARSAW/BRUSSELS (Reuters) – The European Commission said on Monday it was extending until Sept. 15 an arrangement whereby five of Ukraine’s EU neighbours can restrict imports of Ukrainian grain. The EU on May 2 allowed the five countries – Bulgaria, Hungary, Poland, Romania and Slovakia – to ban domestic sales…

LONDON (Reuters) – Goldman Sachs (NYSE:) revised its Turkish lira forecast in the wake of President Tayyip Erdogan’t cabinet revamp, saying it now expected the currency to weaken to 28 to the dollar in 12 months compared with a previous prediction of 22. Erdogan signalled on Saturday his newly-elected government…

By Hannah Lang, Jonathan Stempel and Tom Wilson WASHINGTON (Reuters) – U.S. regulators sued Binance and its CEO Changpeng Zhao on Monday for allegedly operating a “web of deception,” piling further pressure on the world’s biggest cryptocurrency exchange and sending bitcoin to its lowest in almost three months. The Securities…

The U.S. banking system is strong and reliable. The industry is well regulated, and one of the results of the FDIC insurance program is that retail depositors should never have to wonder about the financial strength of their chosen bank. The FDIC insurance limit is currently $250,000 per covered account.…

The paramountcy of the SWIFT interbank messaging network to cross-border payments can be measured in many ways, and SWIFT itself likes to do so with its data on transaction numbers and amounts. For instance, as of December 2022, Swift had recorded an average of 44.8 million FIN messages (payments and…

No doubt, the big news on the individual stock front of late has been the euphoria surrounding just about any company having anything to do with artificial intelligence (AI), following the recent release of a much-better-than-expected quarterly earnings report and extraordinarily bullish outlook from graphics chip titan Nvidia. “The computer…

F5 stock (NASDAQ NDAQ : FFIV) currently trades at $146 per share, around 9% above its level in November 2022, and it seems like it has little room for gains. F5 FFIV saw its stock trading at around $153 in June 2022, just before the Fed started increasing rates, and…