Economy & Money

Bitcoin Meets Banking As U.S. Bank Regulator Permits Cryptocurrency Custody

Bitcoin Meets Banking As U.S. Bank Regulator Permits Cryptocurrency Custody

The relationship between banks and cryptocurrency in the United States has been as complicated as the concept of “money” itself.
Dow rallies more than 200 points to close out its best quarter since 1987

Dow rallies more than 200 points to close out its best quarter since 1987

Stocks rose broadly on Tuesday as Wall Street wrapped up its best quarterly performance in decades.  The Dow Jones Industrial Average
Cash, long a refuge in uncertain times, now under suspicion

Cash, long a refuge in uncertain times, now under suspicion

In troubled times, people have been known to hoard currency at home — a financial security blanket against deep uncertainty.
10 Numbers That Show The U.S. Has Fallen Into A Horrifying Economic Depression

10 Numbers That Show The U.S. Has Fallen Into A Horrifying Economic Depression

The last recession was really, really bad, but it was never like this.  It is time for us to face
52% of American small businesses expect to close within six months because of coronavirus

52% of American small businesses expect to close within six months because of coronavirus

Government responses to the coronavirus pandemic could cost the United States the majority of its small businesses. A new survey
JPMorgan: It Will Take ’10 to 12 Years’ for U.S. Employment Levels to Return

JPMorgan: It Will Take ’10 to 12 Years’ for U.S. Employment Levels to Return

J.P. Morgan Chief Investment Officer Bob Michele predicted it will take 10-12 years after the pandemic for U.S. employment to get back
Scotiabank to close its metals business

Scotiabank to close its metals business

Bank of Nova Scotia is closing its metals business, a division whose origins date back centuries and that brought prominence
Jeff Bezos: Widespread coronavirus testing needed before economy can get running again

Jeff Bezos: Widespread coronavirus testing needed before economy can get running again

Amazon CEO Jeff Bezos said Thursday that mass testing around the world for the coronavirus is needed to “get the economy
JPMorgan Chase to raise mortgage borrowing standards as economic outlook darkens

JPMorgan Chase to raise mortgage borrowing standards as economic outlook darkens

JPMorgan Chase, the country’s largest lender by assets, is raising borrowing standards this week for most new home loans as
50% of Americans Say Their Savings Will Run Out This Month

50% of Americans Say Their Savings Will Run Out This Month

The COVID-19 outbreak has spurred not just a health crisis, but also an economic one. With millions of Americans now
1000s Of Shut-Down US Businesses Will Be Closed Permanently

1000s Of Shut-Down US Businesses Will Be Closed Permanently

This economic downturn is turning out to be far deeper and far more severe than most experts were originally anticipating. 
U.S. Should Seize China’s $1 Trillion in Treasury Obligations as Coronavirus Compensation

U.S. Should Seize China’s $1 Trillion in Treasury Obligations as Coronavirus Compensation

America can seize China’s holdings of U.S. Treasury obligations as compensation for the one-party state’s negligence related to the coronavirus
First Bank Collapses Amid Coronavirus Woes: More in Store?

First Bank Collapses Amid Coronavirus Woes: More in Store?

The First State Bank based in Barboursville, WV has become the first bank to fail since the coronavirus pandemic spread
Stocks tank as oil falls below zero for first time ever

Stocks tank as oil falls below zero for first time ever

U.S. equity markets tumbled on Monday as oil saw a historic hammering with prices turning negative for the first time in history.
CME pushed to change gold delivery rules amid coronavirus lockdown

CME pushed to change gold delivery rules amid coronavirus lockdown

The London Bullion Market Association (LBMA) and several major banks that trade gold have asked U.S. exchange operator CME Group
A Bank in Midtown NYC Is Cleaned Out of $100 Bills – Coronavirus Panic

A Bank in Midtown NYC Is Cleaned Out of $100 Bills – Coronavirus Panic

As the stock market was having its worst day in 30 years on Thursday, customers at a Bank of America
US business levels fall sharply amid coronavirus

US business levels fall sharply amid coronavirus

Business activity in the US service sector fell last month for the first time since 2013, hurt by the coronavirus,
Wells Fargo reaches $3bn fake accounts settlement

Wells Fargo reaches $3bn fake accounts settlement

Wells Fargo, a major US bank, has agreed to pay $3bn (£2.3bn) to resolve a government investigation into its sales