News That Matters

Finance

Big banks make it through stress tests, investors await cash release

Big banks make it through stress tests, investors await cash release

Finance
U.S. banks made it through the latest round of stress testing relatively unscathed, setting investors up for news next week of payouts from the industry's biggest names.Testings results released Thursday by the Federal Reserve show that the 34 institutions under scrutiny have enough capital to make it through the two scenarios regulators posed — one akin to the financial crisis and another entailing a shallower downturn.Under the scenarios, the banks tested "would experience substantial losses." However, in total, the institutions "could continue lending to businesses and households, thanks to the capital built up by the sector following the financial crisis."The tests marked the third straight year the banks all met the Fed's standards for health and could boost arguments from Republican
Finland tests an unconditional basic income

Finland tests an unconditional basic income

Finance
JUHA JARVINEN, an unemployed young father in a village near Jurva, western Finland, brims with ideas for earning a living. “I’m an artist and entrepreneur. Sometimes I’m too active, I don’t have time to stop,” he says. He just agreed to paint the roofs of two neighbours’ houses. His old business, making decorative window frames, went bust a few years ago. Having paid off debts, he recently registered another, to produce videos for clients.Mr Jarvinen says that for six years he had wanted to start a new business but it had proved impossible. The family got by on his wife’s wages as a nurse, plus unemployment and child benefits. Mr Jarvinen had a few job offers in the main local industries—forestry, furniture-making and metalwork. But taking on anything short of a permanent, well-paid post m
What do Danny DeVito and Arnold Schwarzenegger have in common? They are part of 'gray divorce' trend

What do Danny DeVito and Arnold Schwarzenegger have in common? They are part of 'gray divorce' trend

Finance
What do Danny DeVito, Arnold Schwarzenegger and Al Gore have in common? They were all part of an increasing trend called the "gray divorce." Gray divorce is a term for what happens after 20-plus years of marriage to unhappily wed people in their 50s or older.Among U.S. adults ages 50 and up, the divorce rate has roughly doubled since the 1990s. In 2015, for every 1,000 married persons in that age category, 10 divorced — up from five in 1990, according to data from the National Center for Health Statistics and the U.S. Census Bureau. Among those ages 65 and older, the divorce rate has roughly tripled since 1990, reaching six people per 1,000 married persons in 2015.Of course, when it comes to retirement, whatever money the divorcing couple has needs to be divided — often after an expensive
Op-Ed: Why this investing model makes sense for real estate in Asia

Op-Ed: Why this investing model makes sense for real estate in Asia

Finance
A decade ago, the real estate market opportunity in China consisted largely of risky speculative development deals because of a lack of availability of stock.Foreign investors seeking opportunistic returns from the first wave of China funds have been largely disappointed from a toxic combination of delays, cost escalation and implementation problems due to difficulties in enforcing basic contractual law. As a consequence, investor cynicism about China real estate runs high, and so sentiment on Chinese real estate is largely polarized between uber-bulls and perma-bears with not much in between.The reality on the ground today, however, is that the situation is more nuanced and much improved. Particularly in Beijing and Shanghai, occupational markets in the commercial market are buoyant and i...
Here's a new reason to work fewer hours

Here's a new reason to work fewer hours

Finance
Asking for a raise: Women vs. menGone are the days of strolling into work at 9 a.m. sharp and clocking out precisely eight hours later. American workers are putting in more time on the job than ever before. In a 2014 Gallup poll, 40% of U.S. employees said they work more than 50 hours each week, while 20% put in more than 60 hours. Of course, nowadays, you don't need to physically sit in an office to perform work-related tasks -- a fact that's both a benefit and a curse. With the ubiquity of smartphones and the ability to access proprietary systems remotely, workers can log on at all hours and respond to job-related demands at any time. Working outside the office is still working, and for the nearly half of U.S. employees who regularly put in 50 hours or more each week on the job, it's a...