McKinsey & Co is currently the subject of a criminal investigation in the United States regarding allegations that the consulting firm played a significant role in exacerbating the opioid epidemic. Federal prosecutors are focusing on McKinsey's advisory work for OxyContin maker Purdue Pharma and other drug manufacturers, according

The U.S. is drafting sanctions that threaten to cut some Chinese banks off from the global financial system. The United States has had preliminary discussions about imposing sanctions on certain Chinese banks but currently does not have a concrete plan to do so, a U.S. official told Reuters

Fed swaps no longer fully price in rate cut before December The swap market is no longer fully factoring in a rate cut by the Federal Reserve before December. This shift reflects a change in market sentiment regarding the monetary policy of the U.S. central bank. Previously, the market

8% mortgage rates are coming, per Bruce McNeilage, the CEO and co-founder of Kinloch Partners Bruce McNeilage, Co-Founder and CEO of Kinloch Partners, recently shared insights on Yahoo Finance regarding the impact of rising mortgage rates on homebuyers and the housing market. McNeilage predicts that mortgage rates could reach 8%

South Korea's financial market watchdog announced on Thursday that it is reviewing the effectiveness of a new monitoring system designed to identify illegal short-selling of domestic stocks before lifting a ban on such transactions. The Capital Markets Act in South Korea prohibits 'naked' short-selling of stocks,

More than half of Gen Zers want to be full-time influencers, per MorningStar. About 53% of Generation Z individuals view becoming an influencer as a legitimate career choice, with a similar percentage willing to leave their current jobs to become influencers if it could support their lifestyle. Additionally, three in

FCC votes to restore net neutrality. Net neutrality is the principle that internet service providers (ISPs) should treat all internet traffic equally, without discriminating against different types of content by blocking, throttling, or prioritizing traffic for payment. To enforce this principle, the FCC reclassified ISPs as common carriers under Title

US 30-year mortgage rates have hit 7.29%. On Wednesday, the average 30-year fixed mortgage rate reached 7.29 percent, the highest level since November, as reported by Mortgage News Daily. This increase followed the release of new consumer price index inflation data for March, which slightly exceeded economist expectations.

Wall Street firms including Goldman Sachs JPMorgan Chase have helped push New York City’s return-to-office rate to almost 80% of its pre-pandemic levels, per BBG. According to the Nationwide Office Building Index by Placer.ai, RTO rates in 2023 for the two East Coast cities were the highest among

Tesla, $TSLA, will have 85,000 Nvidia, $NVDA, h100 GPUs training AI by end of year, per Elon. esla’s Q1 2024 earnings brought a mix of results for the EV company and its investors. CEO Elon Musk provided additional insights during the earnings call, particularly regarding Tesla's

The wealthy are building “passport portfolios” — collections of second, and even third or fourth, citizenships — in case they need to flee their home country, per CNBC. Wealthy families in the U.S. are increasingly seeking second citizenships and national residences as a financial safety net, according to a prominent law