‘Forget the past three years’

‘Forget the past three years’

Eugene Zhang, founding partner of Silicon Valley VC firm TSVC Spencer Greene, general partner of TSVC Courtesy: TSVC Eugene Zhang, a veteran Silicon Valley investor, recalls the exact moment the market for young startups peaked this year. The firehose of money from venture capital firms, hedge funds and wealthy families pouring into seed-stage companies was … Read more

DOT Proposes New Rule To Make It Easier To Refund Canceled Flights

DOT Proposes New Rule To Make It Easier To Refund Canceled Flights

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. For decades, it has been notoriously difficult for travelers to get a refund from an airline … Read more

How to check if you may be affected by wrong Equifax credit score

How to check if you may be affected by wrong Equifax credit score

If you took out a loan earlier this year, there’s a chance you’ll be hearing from your bank about a flub that may have been part of its lending decision. One of the three big credit-reporting companies, Equifax, announced this week that a coding issue resulted in the company providing inaccurate consumer credit scores to … Read more

Credit Suisse hit with stock and credit downgrades after earnings plunge

Credit Suisse hit with stock and credit downgrades after earnings plunge

Speculation has emerged in recent months that Credit Suisse may be considering a capital raise. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse shares slipped on Wednesday after Goldman Sachs downgraded the stock to “sell” following credit rating downgrades from Moody’s and S&P. The embattled Swiss lender’s shares were down slightly by … Read more

20% returns over in CeFi, DeFi lives on

20% returns over in CeFi, DeFi lives on

PARIS — Celsius and Voyager Digital were once two of the biggest names in the crypto lending space, because they offered retail investors outrageous annual returns, sometimes approaching 20%. Now, both are bankrupt, as a crash in token prices — coupled with an erosion of liquidity following a series of rate hikes by the Federal … Read more

Here are your best money moves after the Fed’s major interest rate hikes

Here are your best money moves after the Fed’s major interest rate hikes

1. Credit cards Kena Betancur | VIEW press | Corbis News | Getty Images Since most credit cards have a variable rate, as opposed to a locked-in fixed rate, there’s a direct connection to the Fed’s benchmark. As the federal funds rate rises, the prime rate does, as well, and your annual percentage rate could … Read more

Credit Suisse names Ulrich Koerner as CEO, launches strategic review as losses deepen

Credit Suisse names Ulrich Koerner as CEO, launches strategic review as losses deepen

Credit Suisse on Wednesday announced that CEO Thomas Gottstein would step down as the bank reported a massive second-quarter loss, as poor investment bank performance and mounting litigation provisions hammered earnings. The embattled Swiss bank posted a net loss of 1.593 billion Swiss francs ($1.66 billion), far below consensus expectations among analysts for a 398.16 … Read more

Germany bails out Uniper, vowing ‘whatever it takes’ to avert energy crisis – POLITICO

Germany bails out Uniper, vowing ‘whatever it takes’ to avert energy crisis – POLITICO

Press play to listen to this article Germany will bail out gas importer Uniper, Chancellor Olaf Scholz said Friday, promising to do “what is necessary and as long as it is necessary” to help keep the country afloat amid fears of a Russia-driven energy crisis. Speaking to reporters in Berlin, Scholz — who interrupted his … Read more

European Central Bank surprises markets with larger-than-expected rate hike,

European Central Bank surprises markets with larger-than-expected rate hike,

The European Central Bank is increasing interest rates for the first time in 11 years. But in Italy, political turmoil is back. Bloomberg | Bloomberg | Getty Images The European Central Bank on Thursday increased interest rates for the first time in 11 years in an attempt to cool rampant inflation in the euro zone. … Read more

Tech can’t remove all financial risks, crypto regulation needed: BOE

Tech can’t remove all financial risks, crypto regulation needed: BOE

Regulators need to “get on with the job” of bringing the use of crypto technologies within the “regulatory perimeter,” says Jon Cunliffe, Bank of England’s deputy governor for financial stability. Speaking at the British High Commissioner’s residence in Singapore on Tuesday, Cunliffe shared insights on the recent “crypto winter,” which refers to a period of … Read more