In 2019, after months of gruelling work, executives at Apple and Goldman Sachs were gearing up to unveil Apple Card, a landmark move for the iPhone maker’s burgeoning ambitions in financial services. As the launch date approached, the partners hit a sticking point. Apple, keen to be seen as providing unique value for customers and…
Category: Finance
Can Charlotte, 50, and Oliver, 51, retire comfortably without selling their house?
Oliver, 51, and Charlotte 50.Todd Korol/The Globe and Mail Oliver is 51, Charlotte is 50. Together, they earn $253,000 a year, Charlotte as a consultant and Oliver in sales. They have two teenaged children they want to put through university and a mortgage-free home in Alberta. Neither has a defined benefit pension plan, but both…
Personal finance class for students at Stuyvesant HS proves popular, NY lawmakers call for financial courses to be mandatory at all high schools
Personal finance is in high demand at Stuyvesant High School and its only teacher, David Peng, is now teaching the class for an entire year—for the first time ever after the class was only offered as a semester-long course. The first personal finance class at Stuyvesant started in the 2021-22 school year after a math…
SVB CEO, CFO resigned, company appointed turnaround expert as interim finance head
April 21 (Reuters) – SVB Financial Group’s CEO and chief financial officer resigned this week while the collapsed lender’s restructuring committee appointed a turnaround expert as interim CFO, according to a regulatory filing on Friday. CEO Gregory Becker resigned on April 19, while finance chief Daniel Beck left the company on April 18, SVB said….
PacWest Bancorp Explores Sale of Its Lender Finance Division
(Bloomberg) — PacWest Bancorp, a regional bank left reeling following the collapse of two rival lenders last month, is exploring a sale of its lender finance arm, according to people familiar with the matter. The Beverly Hills, California-based bank is working with a financial adviser to solicit interest in the business, said the people, who…
Climate Finance Groups Are Misunderstood, BMO Says
(Bloomberg) — Climate finance groups that press companies to decarbonize are wrongly confused as being regulators that set rules for businesses to reach net zero emissions, according to Dan Barclay, chief executive officer of BMO Capital Markets. Most Read from Bloomberg Entities such as the Glasgow Financial Alliance for Net Zero don’t set rules and…
Leaked Memo Reveals New Finance Structure As Cuts Loom
Disney CFO Christine McCarthy has restructured its finance teams, according to a leaked memo. Thousands of Disney employees will be laid off next week, Bloomberg reported, across film, TV, parks, and corporate. The finance consolidation is part of CEO Bob Iger’s effort to cut $5.5 billion in costs. Disney’s chief financial officer, Christine McCarthy, named…
Details about multimillion dollar stock holdings hidden in abortion pill judge’s financial disclosures
CNN — The federal judge who issued a nationwide ruling blocking the approval of a common abortion medication redacted key information on his legally mandated financial disclosures, in what legal experts described as an unusual move that conceals the bulk of his personal fortune. In his 2020 and 2021 annual disclosures, Judge Matthew Kacsmaryk wrote…