Ken Griffin Moving Citadel From Chicago to Miami Following Crime Complaints

Billionaire Ken Griffin is relocating his big hedge-fund firm Citadel from Chicago to Miami, the third major employer to announce the move of a corporate headquarters from Illinois in the past two months. In a letter to employees Thursday, Mr. Griffin said he had personally moved to Florida—a state that doesn’t collect personal income tax—and … Read more

Senate Advances Bill to Raise Age for RMDs to 75

Text size Savers can wait longer to begin emptying retirement accounts under pending legislation. Eric Lee/Bloomberg The Senate Finance Committee advanced a bill on Wednesday that would raise the age for required minimum distributions from retirement accounts to 75, alongside other provisions designed to strengthen Americans’ retirement security. The Enhancing American Retirement Now (EARN) Act … Read more

Juul Ban Will Send Altria’s Strategy, and $13 Billion, Up in Smoke

Altria Group disastrous investment in Juul Labs is taking another turn for the worse. On Wednesday, The Wall Street Journal reported that the Food and Drug Administration is preparing to remove Juul e-cigarettes from the U.S. market. Banning Juul in the U.S., where it was on track to make 94% of its revenue this year, … Read more

I want to retire next year, but I have $25,000 in credit card debt and a major monthly mortgage payment — I also live with my three kids and ex

I’ll be 57 next month and am divorced with three kids living with me. One is 28, she’s working, another is 21 and a senior in college (with a full scholarship) and the youngest is 15 (a sophomore in high school with a full scholarship).  I plan to retire at the end of next year … Read more

3 crucial financial moves to make now after the Fed’s biggest rate hike since 1994

In a matter of months, it’s become more expensive to carry a credit card balance, a car loan or a mortgage as the Federal Reserve’s interest rate hikes have seeped into borrowing costs. It’s tough medicine that central bankers hope will break the fever of hot inflation — and no one expects the doses to … Read more

Dame Meg Hillier: ‘Whitehall struggles to implement more than a slogan’

Energy bills are soaring. A cost of living crisis threatens millions of households. The government’s coffers are still depleted from Covid-19 lockdowns. The Ukraine war and the fallout from Brexit are piling even more pressure on public finances. Against such a backdrop, few jobs are more important than making sure that the government actually spends its … Read more

Meet the rookie trader who battled NFT hackers and dodged the crypto crash: ‘When do you sell?’

Vinny Zane has a taste for life — and an appetite for risk. The 38-year-old teacher and father of a 2-year-old son on Brooklyn’s Coney Island got into crypto in 2017 with $4,000 worth of bitcoin, and jumped into NFTs, or non-fungible tokens, last year. “It was a learning curve for me,” he told MarketWatch. … Read more

FCA struggles to lure diverse candidates for chair role

Just one candidate applying to chair the Financial Conduct Authority disclosed that they were from a Black, Asian or minority ethnic background, Financial News has learned. The markets watchdog received 17 applications for the recently vacated chair role, according to figures disclosed under the Freedom of Information Act. Thirteen came from white individuals, with just a … Read more

S&P 500 Poised for Bear-Market Territory as Stock Futures Drop

The S&P 500 was on track to open in bear market territory, while global stocks tumbled and bond yields jumped as fears over inflation rattled investors around the world. Futures for the S&P 500 were down 2.2% on Monday. A decline of more than 1.3% at the close of trading Monday would push the index … Read more

Mortgage prepayments have fallen 62% from a year ago. This is what that says about the housing market.

Ultimately, as long as buyers are able to keep up with their regular monthly payments, fewer people making extra mortgage payments probably isn’t going to have a massive impact on the broader housing market, explains one expert. AP Mortgage prepayment activity fell 19.1% just from March to April and 61.8% from a year ago, according … Read more