Finance

3 debts you should watch as the Federal Reserve raises interest rates

The market has already started anticipating rate hikes by the Federal Reserve, and you should too. Central bank officials have said they are planning to raise rates three times this year. That could go up to four hikes, depending on how June unemployment rate numbers play out. Those moves under Federal Reserve Chair Jerome Powell will change how you access credit and borrow money. One key area you want to watch is how these changes affect your existing debts, according to Ted Jenkin, CEO of Oxygen Financial. More from Straight Talk:Investors will keep buying cryptocurrencies: PunditUnwanted life insurance? Sell itQuestions you need to ask your financial advisor Here are three key debts Jenkin recommends you should watch. If you have an adjustable rate mortgage, now may be the time to lock ...

Investors should ‘absolutely’ own mainland China assets: Bank Julius Baer

Jitters over U.S.-China trade tensions might have spooked markets earlier this year, but that doesn’t mean investors should shy away from mainland Chinese assets, Mark Matthews, head of Asia research at Bank Julius Baer, told CNBC on Wednesday. “I think people should own China, absolutely,” Matthews told CNBC’s Sri Jegarajah. For starters, the size of the Chinese market presented an attractive proposition. “It’s too big to ignore. This year, Guangdong Province has become larger than the entire Russian economy and I could reel off about a dozen other statistics like that. It’s just so big now and yet people have always treated it as a tactical bet, so they’ve never really owned much of it,” Matthews said. Foreign ownership of A shares, o...

Public sector assets saw a record $2.5 trillion surge in value last year

A global economic upswing helped the value of assets at central banks, sovereign funds and public pension funds hit $38.7 trillion in 2017, according to new research by London-based think tank OMFIF. That was a 7 percent rise of $2.5 trillion, with public assets totaling $36.2 trillion in 2016. The organization said it was the largest jump it had seen in the five years it’s been tracking global markets. Equities across different global indexes hit all-time highs in 2017. In the U.S. in particular, shares were supported by strong earnings, solid economic data and tax changes. The S&P 500, Dow and Nasdaq gained 19.4 percent, 25.1 percent and 28.2 percent, respectively, during the year. “Assets were boosted by the continued global economic recovery, particularly across advance...

Barclays is reportedly looking at a potential merger with Standard Chartered

Barclays has spoken to its rival bank Standard Chartered about a potential merger but no formal or informal bid was made, the Financial Times reported on Wednesday, citing two unnamed sources. One director each from the two London-headquartered banks met to discuss the possible benefits of merging, the FT said. The conversation that took place was part of a wider effort by Barclays to improve its financial performance, according to the report. Both Barclays and Stanchart declined to comment, said the FT. Barclays did not immediately respond to a request for comment from CNBC, while Stanchart said it’s “entirely focused on executing our strategy, and do not comment on this type of speculation.” Barclays has come under pressure from activist investor Sherborne, which is pus...

‘World War III’ worries me more than economic sanctions, says chief of Russia’s VTB Bank

Diplomatic tensions and the “aggressive policy” of the U.S. toward Moscow are of more concern than economic sanctions, the president and chairman of one of Russia’s largest lenders said Tuesday. “What concerns me more than any economic sanctions, that for the first time since the Cuban (missile) crisis — people, at least in Russia and probably in America also, have started to feel that there is more danger of World War III,” Andrei Kostin, the president and chairman of Russia’s VTB Bank told CNBC’s Geoff Cutmore in Moscow. “There is a recent public opinion poll (in) Russia (that) showed that 55 percent of Russians now believe or think that World War III is possible because of the aggressive policy of the United States,” he added. “...

Cash is still king even as digital payments are set to rise, says PayPal CTO

Cash still matters, and it won’t go away anytime soon, according to the chief technology officer at PayPal. Many companies are trying to create a digital payments economy, but they face stiff competition from regular currencies, according to Sri Shivananda, senior vice president and chief technology officer at PayPal. “The competition is cash,” Shivananda told CNBC in an interview last month. “It’s not even, like, you’re fighting for each other’s volumes. It’s actually cash.” Last year, a study from consulting firm Capgemini and bank BNP Paribas predicted that by 2020, people around the world would make about 726 billion transactions using digital payment technology. The study found that emerging markets are expected to drive the upward...

Cash is still king even as digital payments are set to rise, according to PayPal’s CTO

Cash is still the biggest competition for the growing number of digital payments companies and it will not go away anytime soon, according to the chief technology officer at PayPal. Many companies are trying to create a digital payments economy but they face stiff competition from an existing mode of payment, according to Sri Shivananda, senior vice president and chief technology officer at PayPal. “The competition is cash,” Shivananda told CNBC in an interview last month. “It’s not even, like, you’re fighting for each other’s volumes. It’s actually cash.” Cash transactions still exceed digital payments even though they are not easy to manage, Shivananda said. Last year, a study from consultancy giant Capgemini and bank BNP Paribas predicted ...

In loosening bank regulation, GOP House closes a loophole linked to Puerto Rico’s financial crisis

U.S. lawmakers closed a long-standing legal loophole that helped spark a financial crisis in Puerto Rico that has decimated the savings of thousands of residents. Tucked inside legislation that passed the House of Representatives Tuesday night — a larger bill largely focused on rolling back Dodd-Frank banking regulation — is a provision that creates greater oversight of brokerage firms operating in U.S. territories. The provision ends a 78-year-old legislative loophole that allowed subsidiaries of global banking institutions that operated in U.S. territories, like Puerto Rico, to do certain types of financial transactions that are legally barred stateside. This exemption from the so-called Investment Company Act of 1940 also allowed funds in Puerto Rico to skirt leverage standards and cert...

Morgan Stanley Recalls Quant From Bridgewater Internship/Spy Mission

The Morgan Stanley SWAT team extracts Court Crane from 1 Glendinning Place. By English: Lance Cpl. Kenneth K. Trotter Jr [Public domain], via Wikimedia Commons Three years ago, Morgan Stanley embedded a spy within Bridgewater Associates to learn its mysterious ways. Specifically, the mysterious and lucrative ways and means of its army of Principled robots. And with Ray Dalio and co. temporarily distracted by other matters, the bank decided it was the perfect time to safely extract him from Westport and get him to work putting other people at Morgan Stanley out of work. And maybe teach them to videotape all meetings and how best to deal with sexual misconduct allegations. Morgan Stanley has rehired a former electronic trading specialist as investment banks arm themselves for a future in whi...

Turkey Now Less Credit Worthy Than Senegal Amid Ongoing Currency Crisis … Is What A ‘Gulenist Tool’ Would Say

Listen, it is imperative that you understand something and that something is this: Turkish President, Kurd hunter extraordinaire and world-renowned rates strategist, Recep Tayyip Erdoğan, knows what he’s doing, ok? Sure, there’s a lot of market speculation that maybe his theories about interest rates and FX and inflation are indicative of his generalized penchant for lunacy and yes, there are some folks out there who think it would be an absolutely terrible idea for him to go through with the promise he made last week when he told a shocked Bloomberg anchor that he’s going to basically name himself central bank head, but that’s all nonsense. It’s just jealous foreigners trying to sow doubt and confusion and otherwise sully his sterling reputation. Or worse, it’s evidence the firms that are...

After-hours buzz: RRGB, TCS & more

Check out the companies making headlines after the bell: Red Robin Gourmet Burgers stock plunged more than 16 percent after the bell, after the burger chain missed on top and bottom lines in the first quarter. Red Robin reported EPS of 69 cents on $422 million in revenue versus the 76 cents on $427 million analysts were expecting, according to Thomson Reuters. The company also says same store sales fall 0.9 percent year-over-year. Shares of The Container Store lost more than 11 percent in extended trading. The specialty retailer reported a fiscal fourth-quarter loss of $399,000, after reporting a profit in the same period a year earlier, according to the Associated Press. Prior to posting its financial results, The Container Store was trading up 8 percent after several days of steady gains...

Craig Carton Pleads Stupidity, And Who Are We To Argue?

Craig Carton’s intellectual deficiencies were readily apparent to anyone whose car radio was stuck on WFAN in New York on weekday mornings before his untimely arrest in September on charges of running a ticket-scalping Ponzi scheme at the expense of an allegedly well-run hedge fund. Presumably, his lawyers are preparing transcripts of some of his choicer takes on the Mets and Jets to fortify their argument that he should not be facing those charges on account of those intellectual deficiencies. “The Indictment is devoid of any allegations that Mr. Carton possessed ‘culpable intent’ at the time the Hedge Fund established the loan facility for approximately $4.6 million in the ticket resale business on December 8, 2016,” reads the court document. “The Government has failed to put forth any a...