To say home refinancing activity is a sliver of what it was two years ago is no exaggeration. In the first quarter of 2021, there were 1.84 million refinances where homeowners secured a lower mortgage rate, according to figures for mortgage technology and data provider Black Knight Inc. provided Yahoo Finance. In the final month…
Category: Finance
China plans to revamp finance, tech oversight
Delegates and officials gather at The Great Hall of the People in Beijing on March 5, 2023, for the opening of the annual National People’s Congress. Lintao Zhang | Getty Images News | Getty Images BEIJING — China plans to overhaul its financial regulatory system by consolidating aspects of the central bank and securities regulator…
Euler Finance blocks vulnerable module, working on recovering funds
Euler Finance’s decentralized finance (DeFi) lending protocol became a victim of a flash loan attack on March 13, resulting in the biggest hack of crypto in 2023 so far. The lending protocol lost nearly $197 million in the attack and impacted more than 11 other DeFi protocols as well. On March 14, Euler came out…
Ontario finance minister teases vision for growth in 2023 budget
Finance Minister Peter Bethlenfalvy will release the Ontario government’s 2023 budget on March 23 Two-and-a-half weeks before he plans to introduce the Ford government’s 2023 budget, Peter Bethlenfalvy explained in broad strokes what to expect in it to a downtown Toronto audience. The budget will signal that Ontario “wants to be the economic engine of…
China’s Communist Party takes aim at hedonistic bankers
Ssenior staff at China’s largest investment banks have been flying economy, not first class, in recent months. They are cutting back on entertaining clients and drinking less, if at all, at banquets. A banker says he has been warning junior colleagues to avoid ostentatious displays of wealth. It is, he reports, for their own good….
BBC chief refuses to quit despite the chaos sparked by Lineker’s removal
Britain’s finance minister on Sunday said “people’s confidence” in the BBC needed to be restored as the broadcaster’s boss vowed not to quit amid the chaos surrounding Gary Lineker’s removal as Match of the Day host. Lineker was forced to “step back” from his duties presenting the flagship Premier League highlights show after accusing the…
Why the recession odds just spiked after Powell addressed Congress
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 am ET. Subscribe Thursday, March 9, 2023 Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market…
Lessons from finance’s experience with artificial intelligence
Who are the earliest adopters of new technologies? Cutting-edge stuff tends to be expensive, meaning the answer is often extremely rich. Early adopters also tend to be incentivized by cut-throat competition to look beyond the status quo. As such, there may be no group more likely to pick up new tools than the uber-rich and…