Author: Press Room

First Republic Bank FRC, +4.39% on Friday said it would halt paying quarterly cash dividends on its preferred stock. In a filing, the company said the move to suspend those payments, made on Thursday, was “a measure of prudent oversight.” The move for the struggling bank, which teetered as its wealthy clients raced to get their money out following the collapse of Silicon Valley Bank and Signature Bank, comes after it suspended its common-stock dividend last month. The bank received $30 billion in deposits last month from the nation’s largest financial institutions in an effort toward stabilizing the company. Read…

Dear Tax Guy, I just started renting my house out on Airbnb. I started a limited liability company to keep the expenses separate from personal ones. I am trying to figure out what would be considered tax deductions in this scenario? I had my own marketing research LLC for around 25 years, so I know a lot — just not with renting out my house. Can somebody count part of the mortgage as a deduction? What about utilities and cable? I would think so. Travel & TaxesDear Travel & Taxes, Your question about the crossroads of hospitality and regulations has…

The March jobs report on Friday showed that the U.S. economy added 236,000 jobs last month, with the unemployment rate falling to 3.5% from 3.6%. Economists polled by the Wall Street Journal had expected that 238,000 jobs would be added and that unemployment would remain at 3.6%. See: Jobs report shows 236,000 increase in employment in March Here are some initial reactions from economists and other analysts, as U.S. stock futures ES00, +0.24% YM00, +0.19% turned higher following the data on nonfarm payrolls. U.S. stock exchanges are closed for the Good Friday holiday. • “The Fed will take a little comfort from…

© Reuters. FILE PHOTO: A worker loads a truck with crates of oranges at a farm in Limeira January 13, 2012. REUTERS/Paulo Whitaker By Ricardo Brito (Reuters) -Giants of the orange juice trade in Brazil have become defendants in a class-action lawsuit seeking $2.5 billion in damages over an alleged scheme to fix prices between 1999 and 2006, a prosecutor told Reuters. Federal Prosecutor Karen Kahn said the Sao Paulo Court of Justice will hear claims in a lawsuit filed against firms including Citrosuco, Cutrale and Louis Dreyfus Co (LDC), which account for most of the world’s orange juice output.…

SINGAPORE (Reuters) – BHP Group (NYSE:)’s programme to support promising minerals explorers will expand beyond and nickel to prospective uranium and lithium projects from September, the head of its Xplor program said on Wednesday. The Xplor accelerator program chose seven projects around the world to support for six months from January in its first year this year that fit with BHP’s portfolio – copper and nickel – and are key to the energy transition. BHP expects the world to need twice the amount of copper by 2030 as is produced this year, and four times the amount of nickel. For…

By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s naira dropped to a record low of 465 per dollar on the official market on Monday, Refinitiv data showed, as traders await the outcome of Friday’s central bank foreign exchange auction. The naira, which trades within a range on the official market, has fallen to successive lows due to dollar scarcity, coupled with central bank’s adjustments to manage a backlog demand for foreign exchange. It later recovered to trade at 461 to the dollar. The central bank on Friday held a bi-weekly retail auction for people or businesses who need dollars to settle…

BEIJING (Reuters) – China’s new yuan loans are expected to rebound in March from a sharp drop in February, a Reuters poll showed, as the central bank keeps policy accommodative to support a nascent economic recovery. Chinese banks are estimated to have issued 3.24 trillion yuan ($471.30 billion) in net new yuan loans last month, up sharply from 1.81 trillion yuan in February, according to the median estimate in the survey of 20 economists. The expected new loans would be 3.5% higher than 3.13 trillion yuan issued in the same month a year earlier. After record growth in credit in…

I hate to see folks trying to time this banking mess with regular stocks like JPMorgan Chase JPM & Co. (JPM). Especially when they can easily swap their big-bank stocks for “preferred” dividends yielding 8% and up! That’s a far sight better than the magic trick mainstream investors are attempting, as they try to dodge into big banks like JPM at just the right moment. Worse, JPM only yields 3% today. And you and I both know that markets can thrash around for weeks looking for a bottom. That’s why, instead of squinting at price charts, we’re calmly picking up…

After a 20% growth over the last six months, at the current price of around $66 per share, we believe Restaurant Brands International Inc. stock (NYSE: QSR), one of the largest fast-food restaurant chains in the world, including Burger King, Tim Hortons, Popeyes, and, since late 2021, also Firehouse Subs – is fairly priced in the near near term. QSR stock has increased from around $55 to $66 in the last six months, outperforming the broader indices, with the S&P growing about 8% over the same period. QSR’s stock growth can be attributed to its solid business. All four company…

If you can change these five mistakes, budgeting won’t be dreadful, and maybe even fun. I get some version of this question every week as a money coach. “I hate budgeting. I don’t know what I’m doing, and I just dread it. But I know that if I put a budget together, my finances will be better, and I can do more of the things that I want to do. So do you have any tips on how I can do budgeting better?” Nobody wants to sit in front of a computer with a bunch of spreadsheets and stare at…