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Citigroup reports $18.3 billion loss, caused by new tax law

by Ken Sweet - January 17, 2018 - 3:38am

Citigroup reported a $18.3 billion loss in the fourth quarter on yesterday as the financial conglomerate had to take more than $20 billion in accounting write-downs related to the new tax law.

Bitcoin soars then falls back; banks raise risk concerns

by Ken Sweet - December 8, 2017 - 12:33am

The price of bitcoin swung wildly Thursday, rising to more than $19,000 only to fall sharply within minutes, as both the euphoria and anxiety surrounding the virtual currency escalated just days before trading in...

Credit card sensation: The hottest new plastic is metal

by Ken Sweet - September 9, 2016 - 4:00am

The demand has been so overwhelming that the manufacturer ran out of raw material in just a few days. Enthusiasts extol its virtues all over the internet. Millennials are clamoring for it.

Kobe Bryant starts $100M investment fund

by Ken Sweet - August 23, 2016 - 12:09pm

Retired NBA star Kobe Bryant is moving to Wall Street, announcing the formation of a $100 million venture capital fund to invest in media, technology and data companies.

Slump in Chinese manufacturing weighs on markets

by Ken Sweet - May 3, 2016 - 4:33pm

More weakness in Chinese manufacturing weighed on US and European financial markets on yesterday, renewing concerns that the world's second-largest economy is slowing down. Those fears were compounded after European...

Q&A: Puerto Rico's debt crisis explained

by Ken Sweet - May 2, 2016 - 6:00pm

Puerto Rico's worsening debt crisis is dimming the economic outlook for the US territory and putting pressure on Congress to help resolve the situation but it is having little effect on the market for municipal bonds...

Uber to give drivers option to be paid instantly

by Ken Sweet - March 17, 2016 - 2:13pm

Uber is launching a pilot program intended to help the ride-hailing service's drivers draw their pay faster, an effort that may also fend off emerging payday lenders who are targeting drivers.

Chase planning rollout of card-free ATMs

by Ken Sweet - January 27, 2016 - 12:17pm

Soon, losing your ATM card won't be the financial life-stopping event it used to be. Just don't also lose your phone.

Stocks in steep sell-off on China economic worries

by Ken Sweet - August 20, 2015 - 2:21pm

Another slump in the Chinese stock market spread across the globe Thursday, causing steep declines in U.S. and European shares, and dragging the Standard & Poor's 500 index into the red for 2015.

Stocks in steep sell-off on China economic worries

by Ken Sweet - August 20, 2015 - 2:00pm

Another slump in the Chinese stock market spread across the globe Thursday, causing steep declines in U.S. and European shares, and dragging the Standard & Poor's 500 index into the red for 2015.

Stocks in steep sell-off on China economic worries

by Ken Sweet - August 20, 2015 - 2:00pm

Another slump in the Chinese stock market spread across the globe Thursday, causing steep declines in U.S. and European shares, and dragging the Standard & Poor's 500 index into the red for 2015.

To combat fraud, Visa wants to track your smartphone

by Ken Sweet - February 14, 2015 - 4:22am

Those days of calling your bank to let them know that, yes, you really are in Thailand, and yes, you really did use your credit card to buy $200 in sarongs, may be coming to an end.

US stocks end little changed as Greek debt meeting begins

by Ken Sweet - February 12, 2015 - 5:31am

US stocks closed effectively flat in quiet trading yesterday as investors waited to see what the outcome would be of an emergency meeting between Greece and the rest of the eurozone to discuss the country's fin...

Apple plans to sell as much as $6.5 billion in bonds

by Ken Sweet - February 3, 2015 - 6:23am

Apple is planning another large bond sale at a time when investors are paying near record premiums for high-quality bonds.

What happened to the Swiss franc?

by Ken Sweet - January 17, 2015 - 7:00am

One of the world's safest investments — the Swiss franc — has swung wildly this week after the central bank in Switzerland announced it would scrap its policy of limiting the rise of the currency.

Investors expect higher stocks in 2015, but also turbulence

by Ken Sweet - December 27, 2014 - 2:24am

Can the US hold everyone else above water? That is the question investors are asking as Wall Street heads into 2015.

Financial tips for same-sex couples

by Ken Sweet - December 1, 2014 - 3:14pm

LGBT adults are likely to have less in retirement savings and have less access to Social Security benefits from spouses. They are also more likely to need long-term care because fewer have children to care for them...

US stocks fall as government heads toward shutdown

by Ken Sweet - October 1, 2013 - 10:28am

U.S. stocks fell Monday as Wall Street worried that a budget fight in Washington could lead to an event far worse for the economy— a failure to raise the nation's borrowing limit.

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