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Finance

Stock Market’s 2023 Surge Faces Fed Test Even as Profits Improve

(Bloomberg) — US stocks are approaching a record high and the outlook for Corporate America is only expected to brighten. Now investors are waiting to see if the Federal Reserve derails the market’s bull run.

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Amid signs that inflation pressures are finally ebbing, setting up what has historically been a bullish stretch, the S&P 500 Index is a mere 5.4% below its all-time peak. It’s a backdrop that raises the stakes for this week’s pivotal central bank meeting, with economists still debating whether a recession is ahead this year.

The danger, of course, is that a

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Finance

Apollo to Launch Private Fund in Asset-Based Financing Buildout

(Bloomberg) — Apollo Global Management Inc. is launching its first-ever fund dedicated to asset-based financing, laying the groundwork for what the firm is telling investors could be the largest vehicle of its kind in the market.

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The new fund marks a move by one of the world’s largest alternative asset managers to expand its more-than-$100 billion platform for asset-based financing by tapping external investors directly, according to a person familiar with the matter who asked not to be named because the matter is private. The vehicle stands to climb to more than $5 billion in size,

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Finance

The Bank of Canada’s latest rate hike is bad news for renters and some landlords

The latest rate hike by the Bank of Canada is expected to have widespread ripple effects for renters and real estate investors, beyond its implications for homeowners with mortgages.

The increase of a quarter of a percentage point and another hike of the same size that could come in September will boost demand for rentals, force some landlords to sell and put a further damper on the construction of new rental and condo units, experts say.

The central bank raised its trend-setting interest rate to 5 per cent on Wednesday, which was widely expected by financial markets. But it also

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Finance

Find Out How Long It Takes To Refinance a Car Loan

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How Long It Takes To Refinance a Car Loan?Owaki/Kulla – Getty Images

Refinancing a car loan can take anywhere from a few hours to a couple of weeks. This means that if you took a loan from the dealership because it was convenient, but it turned out to be a mistake, you can apply for a new loan as soon as you drive off the lot. The average car payment for a loan in the US is $716 for a new car and $526 for a used model.

With over 80% of buyers choosing to finance their purchases, many

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Finance

Gun violence intervention and other initiatives were overlooked while the councilman gained

Councilman W. Howard Myers, front and center, walks into the Petersburg District Court for a hearing on Thursday, Feb. 16, 2017.

Councilman W. Howard Myers, front and center, walks into the Petersburg District Court for a hearing on Thursday, Feb. 16, 2017.

PETERSBURG—During the pandemic, the federal government dispersed billions of dollars throughout the states to help them respond to the economic impacts and shore up infrastructure.

The money had to be spent in four areas: to replace lost public sector revenue for government services, to respond to the negative health and economic impacts of Covid-19 by supporting small businesses, households, nonprofits, or other impacted industries, to provide additional pay for essential workers, and to invest in water, sewer, and broadband

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Finance

Layer-2 DeFi Project Rodeo Finance Hacked for 472 Ethereum

Arbitrum-based Rodeo Finance has lost $888,000 in a recent attack.

A “Force Investment” hack was deployed, allowing the attacker to steal 472 Ethereum ($888,000). The wallet later sent 150 ETH into the Tornado Cash mixer, leaving 371 ETH remaining in the wallet.

The exploiter originally funded 50 ETH from Tornado Cash to execute the hack.

Arbitrum is a popular layer-2 scaling solution for the Ethereum network that uses optimistic roll-up technology.

Blockchain security firm PeckShield first highlighted the attack on Twitter with a link to the attack transaction commenting, “Hi, @Rodeo_Finance you may want to take a look.”

The attacker

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Finance

Clutch financing in works would slash online car seller’s valuation by 97 per cent from peak

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Clutch’s delivery flat-bed truck drives through Toronto on March 19. The company is one of a swath of high-flying startups challenged by the tech sector crash that started in late 2021, wiping out valuations and leading to deep job cuts.Christopher Katsarov/The Globe and Mail

Canadian online car seller Clutch Technologies Inc. is in advanced stages of securing funding that would slash its valuation to a tiny fraction of its $575-million peak in late 2021.

Toronto-based Clutch is raising $20-million in a deal led by past backer Stamford, Conn.-based Canaan Partners that would value the

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Finance

Gen Z is seeing the appeal of finance jobs, as cost-of-living concerns rise, a new survey finds

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Gen Z is putting more stock in careers in finance, with one in four recent graduates considering it a top sector for career prospects.Photo by ANGELA WEISS/AFP via Getty Images

  • A new study reveals that Gen Z thinks finance is the best industry for future career prospects.

  • A quarter of graduates said finance is the No. 1 industry for career prospects — up from No. 5 in 2021.

  • Part of the reason may be the money: Graduates’ top career fear is low pay.

At the end of the day, money talks.

A mid-June survey conducted by the CFA Institute,

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