Brace for a volatile 2022, but cling to this tech stalwart when the storm comes, says investment adviser

The pain is piling up on stock investors after a long weekend in the US, with bond yields at levels not seen since early 2020, and oil prices crossing their 2014 highs. The pace of the Fed’s monetary tightening amid the highest inflation in nearly 40 years, a bumpy start to corporate earnings reporting season … Read more

Credit Suisse’s António Horta-Osório Lost Board Support Over Covid-19 Rules Breach

He came to fix the Credit Suisse group AG’s shattered culture. Then it became part of the problem. Antonio Horta Osorio was hoping for a slap in the wrist on Sunday from Credit Suisse CS 0.38% Council for breaching coronavirus quarantine rules on trips to events, according to people familiar with his departure. Instead, he … Read more

Up to three-quarters of the $800 billion PPP flowed to business owners instead of workers, study finds

A study from leading economists found that the benefits of a prominent small business relief program designed at the height of the pandemic mostly went to business owners rather than workers. The study, by authors including renowned MIT economics professor David Autor, as well as several Federal Reserve economists, examined the $800 billion paycheck protection … Read more

Credit Suisse Chairman to Leave After Breaking Covid Travel Rules

Credit Suisse Group AG CS 0.38% Chairman Antonio Horta Osorio left the World Bank after a board investigation into his travel and personal behavior, according to people familiar with the bank. Credit Suisse said late Sunday that Mr Horta-Osório had resigned following a board-mandated investigation. The people said the investigation examined his behaviour, including travel … Read more

Citigroup Sticks With Its Covid-19 Vaccine Mandate, While GE Drops Its Rules

City Group company c -1.25% It is committed to delegating a Covid-19 vaccine to its US employees. General Electric company Give 0.68% Not. The two US companies are heading in opposite directions after the Supreme Court on Thursday blocked the Biden administration’s rule that large employers require their employees to get vaccines or be tested. … Read more

Elon Musk Says Tesla Is Accepting Dogecoin for Some Merchandise

Tesla said Elon Musk company TSLA -6.75% It accepts payment for some goods using dogecoin, which is a reprieve of the electric car maker for accepting cryptocurrency for some payments. Tesla CEO said In an early tweet on Friday, “Tesla merchandise is purchasable with Dogecoin.” The company’s website showed some items, including one titled “Giga … Read more

Bad news for home buyers: Mortgage rates have soared to their highest levels since March 2020

Interest rates are rising in the wake of data showing a worrying inflation outlook – and homebuyers are willing to pay the price. The 30-year fixed-rate mortgage averaged 3.45% for the week ending January 13, up nearly a quarter of a percentage point from the previous week, Freddie Mac FMCC, -0.75% reported on Thursday. It’s … Read more

Student-Loan Processor Navient to Cancel $1.7 Billion of Debts

A former unit of student loan giant Sallie Mae said it would cancel $1.7 billion in private student debt for 66,000 borrowers to settle claims it engaged in deceptive lending practices. Navient corp. Navi 0.37% He agreed to the amount in a settlement with 40 state attorneys general. The loans are private loans, so losses … Read more

Fed’s Brainard Says Reducing Inflation Is Top Priority

Federal Reserve Governor Lyle Brainard, the White House nominee for the central bank’s number two, told Congress that efforts to reduce inflation are the central bank’s “most important task.” Ms Brainard, who joined the Fed in 2014, was a strong advocate last year to ensure the central bank does not cut stimulus prematurely as part … Read more