Category: Finance

Stocks start the week lower as investors ponder the Fed’s rate path

US stocks fell Monday as investors faced another medley of earnings and evaluated the outlook for interest rates following January’s blowout jobs report.

The S&P 500 (^GSPC) closed down 0.6%, while the Dow Jones Industrial Average (^DJI) edged a modest 40 points, or 0.1%, lower. The technology-heavy Nasdaq Composite (^IXIC) declined 1%.

Dell Technologies (DELL) said Monday it would eliminate about 6,650 jobs, or roughly 5% of its global workforce, making it the latest in a wave of technology companies to announce layoffs. Shares fell 3% on Monday.

In a memo to employees, co-Chief Operating Officer Jeff Clarke said the

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China’s Finance Minister, Central Bank Governor to Attend Debt Roundtable in India -IMF

(Reuters) -China’s finance minister and its central bank governor will attend a roundtable with other creditors and some borrowing countries in February in India, IMF Managing Director Kristalina Georgieva said in a CBS’ 60 Minutes interview on Sunday.

“China has to change its policies because low income countries cannot pay,” she said.

“What we are working towards is to bring all creditors, the traditional creditors from advanced economies, new creditors like China, Saudi Arabia, India, as well as the private sector, and put them around the table with the debtor countries.”

Georgieva said last month the first such gathering will

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Can Liam and Olivia afford to retire and take their dream vacation?

Liam, 64, and Olivia, 62, are deciding between the Galapagos or New Zealand as their first big retirement vacation.Christopher Katsarov/The Globe and Mail

Like many people their age, Liam and Olivia are eager to retire from the work force, take a big trip to some far-off place, then come home and dote on their grandchildren. Liam is 64 and Olivia is 62. Liam, who was downsized some time ago, is making $25,000 a year as an independent contractor. Olivia earns $70,000 a year as a technician.

They have saved a substantial sum.

The couple have a mortgage-free house in

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Winklevoss Twins’ Gemini Gets New Head of Finance as Crypto Exchange Faces Turmoil

(Bloomberg) — Gemini Trust, the crypto exchange run by the Winklevoss brothers, hired a fintech veteran as new head of finance even as it undergoes another round of layoffs and deals with uncertainty over whether users of its Earn program will get their money back .

Tyler Skelton, who started at Gemini earlier this month, was previously chief financial officer for North America at Till Payments, which helps businesses accept payments, according to his LinkedIn profile. He also worked as head of finance at crypto technology-and-services provider Bakkt, where he helped with a SPAC merger and led due diligence on

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Fiscal room tightening as economy teeters, associate finance minister says




Mia Rabson, The Canadian Press



Published Tuesday, January 24, 2023 5:31AM EST




Last Updated Tuesday, January 24, 2023 5:22PM EST

HAMILTON – Canada’s associate finance minister says it’s going to be a “turbulent” year for the economy, but Randy Boissonault insists the government still has some spending room for big priorities including a new health-care deal with the provinces.

Boissonnault was speaking before the cabinet meets on the second of a three-day cabinet retreat in Hamilton, Ont. Finance Minister Chrystia Freeland is set to give an economic update to the cabinet

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Quicken Enables Users to Share Financial Info

Quicken’s personal finance app now lets users share their financial information with trusted parties.

With this new feature of the Simplifi app, spouses can share information to align their budgeting, parents can help their children develop healthy financial habits, and users can help their aging parents manage their finances, Quicken said in a Wednesday (Feb. 1) press release.

Users can also share information with accountants to streamline tax preparation and with financial planners to collaborate year-round on budgets, the release said.

“When it comes to financial planning, consumers can feel isolated due to the individual-based approach many financial tools take,”

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Federal deficit stood at $3.6-billion with four months left in 2022-23 fiscal year

Finance Minister Chrystia Freeland appears as a witness at a Senate committee on national finance, in Ottawa, on Dec. 7, 2022.Sean Kilpatrick/The Canadian Press

The federal deficit stood at $3.6-billion as of November with just four months left in the 2022-23 fiscal year, suggesting federal finances are outperforming official projections.

The Finance Department’s monthly fiscal monitor report said the $3.6-billion deficit for the April to November period compared to a $73.7-billion deficit during the same eight months one year earlier.

The report said the federal government ran a $3.4-billion deficit in the month of November alone, compared with a

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Why the Bank of Canada can’t cut rates this year, despite what the market says

Bank of Canada Governor Tiff Macklem takes part in an interview after announcing an interest rate decision in Ottawa, Ontario, Canada January 25, 2023. REUTERS/Blair Gable

Bank of Canada Governor Tiff Macklem takes part in an interview after announcing an interest rate decision in Ottawa, Ontario, Canada January 25, 2023. REUTERS/Blair Gable

The Bank of Canada won’t be lowering its key lending rate this year despite financial markets already pricing in multiple cuts starting this fall, according to a senior economist at Vanguard.

“Their credibility is at stake,” Roger Aliaga-Diaz, senior economist and head of global portfolio construction at Vanguard, tells Yahoo Finance Canada in an interview.

“[The Bank of Canada’s] fear is if they give in to what the market is asking or expecting, and

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