Investing
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A shocking number of veterans are getting scammed out of their assets—here are some of the common frauds
As aging World War II veteran Johnnie Ray Toland started showing signs of Alzheimer’s, his family began searching for an assisted living home to care for him. Staff members at one home introduced the family to Tammi Palasini. Palasini, who would later be sentenced to 20 years behind bars for various crimes, including fraud, convinced the Toland…
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The 2023 Porsche Taycan: an electrifying drive in more ways than one
The 2023 Porsche Taycan luxury car is an electrifying drive in more ways than one. Pricing starts at $86,700. Available as a sedan or wagon-like Sport Turismo/Cross Turismo versions, the 2023 Taycan blends Porsche POAHY, +0.72% prestige and dynamics with all-electric, zero-emissions drivetrains. It’s the company’s first all-electric car, having made its debut for the…
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Dow ends 530 points lower after Fed delivers quarter-point rate hike despite banking system stress
U.S. stocks finished sharply lower in volatile trade on Wednesday after the Federal Reserve raised interest rates by another 25 basis points, while noting that policymakers weren’t penciling in rate cuts this year. The decisions came despite recent stress in the banking industry following the collapse of two U.S. regional banks. How stock indexes traded…
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Quarter-point Bank of England rate hike seen as virtual lock after surprise acceleration in inflation
What was an uncertain Bank of England decision became almost a lock after U.K. inflation data came in unexpectedly hot. The odds of a quarter-point hike, to 4.25% from 4%, moved to 97% after the data from the Office for National Statistics on Wednesday showing inflation accelerating to 10.4% year-over-year in February. The yield on…
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2-year Treasury yield dives to one of lowest levels of year after Fed decision
Most Treasury yields dived on Wednesday after Federal Reserve policy makers signaled just one additional interest rate hike will be appropriate this year and Chairman Jerome Powell addressed banking-system concerns during his press conference. Meanwhile, Treasury Secretary Janet Yellen weighed in separately, by saying her agency hasn’t looked at expanding FDIC deposit insurance. What happened…
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Why won’t Medicare cover the new Alzheimer’s drug?
The Center for Medicaid and Medicare Services and its chief administrator, Chiquita Brooks-LaSure, look increasingly isolated over Alzheimer’s drug lecanemab after their counterparts at the Veterans Health Administration just publicly approved the drug for patients. “VA has added lecanemab (also known as Leqembi), which recently received accelerated approval from the FDA, to its list of…
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FleetCor stock rises after announcement of strategic review
Shares of FleetCor Technologies Inc. FLT, -1.39% were headed more than 1% higher in premarket trading Monday after the business-payments company said it would conduct a strategic review. Fleetcor will engage in “a review of its portfolio and business configuration, with the goal of driving enhanced shareholder value,” according to a Monday morning press release.…
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Apple’s drop shows price of popularity
CHAPEL HILL, N.C. (MarketWatch) — What investment lesson are you drawing from Apple’s breathtaking plunge over the last couple of months? The one I think is most important is a contrarian one: To find your prince, you need to be willing to kiss a frog. For years now, this contrarian lesson was dismissed by Apple…
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FDIC extends bidding for Silicon Valley Private Bank, Silicon Valley Bridge Bank
The Federal Deposit Insurance Corp. said Monday it’s extending the bidding for former units and assets of Silicon Valley Bank, which has been renamed Silicon Valley Bridge Bank since the government took it over on March 10. “There has been substantial interest from multiple parties, and the FDIC and the bidders need more time to…
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My daughter has her heart set on attending a Canadian college. Will my 529 account still receive the tax benefits?
My daughter is considering a Canadian school for her Bachelor’s degree. The school is on the U.S. Department of Education’s website as a “deferment only” school, which means a student cannot get new federal loans while at this school. But if she has existing loans, they can be deferred while she goes to this school.…