Wealth Management News & Insights
SEC, DOJ Investing Crypto Platform FTX, Tax-Related Questions on State Ballots, Factors That Determine Your Company’s Valuation
Financial Markets
- Inflation Report Leaves Fed on Track for 0.5-Point Rate Rise in December: Central bank officials have signaled a desire to moderate the pace of interest rate increases, even though rates could rise higher next year. [WSJ]
- Elevated Inflation Presents Risk to U.S. Economy, Fed Report Finds: Central bank identifies near-term threats in Financial Stability Report. [WSJ]
- Cash-Rich Consumers Could Mean Higher Interest Rates for Longer: Buoyed by pandemic-fueled savings, consumers and businesses are proving less sensitive to tighter credit—complicating the Fed’s job. [WSJ]
- Warner Bros. Discovery Marriage Hurt by High Debt, Low Morale: Merger created streaming-media giant, but leveraging company’s assets has been tough in a competitive market. [WSJ]
- SEC, DOJ Investigating Crypto Platform FTX: Probe focuses on potential securities-law violations by U.S. affiliate. [WSJ]
- FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall: FTX Chief Executive Sam Bankman-Fried told an investor this week that Alameda owes FTX about $10 billion. [WSJ]
Financial Planning
- State “Stimulus Checks” in 2022 – Will You Get One: To help counter high inflation, pandemic woes and other financial hardships, some states are sending tax rebate “stimulus” checks or other payments to residents. [Kiplinger]
- From Buy Now, Pay Later to Venmo, Here Are 4 of The Best Ways to Pay for Holiday Gifts: What you buy this holiday season is just as important as how you buy it. [CNBC]
Tax Planning
- Results for Tax-Related Questions on State Ballots: Voters in 14 states had their say on income tax rates, property tax breaks, taxes on marijuana and more during the midterm election. We have the results. [Kiplinger]
Business Strategy
- 6 Factors That Determine Your Company’s Valuation: Investors consult detailed, quantitative models before making decisions. Shouldn’t corporate managers have a similar understanding of how the market values their company, so they can make informed decisions to maximize shareholder value? [HBR]
- Tech’s Talent Wars Have Come Back to Bite It: Hiring the best, the brightest and the highest number of employees was a badge of honor at tech companies. Not anymore as layoffs surge. [NYT]
- The Great Netflix Debate: Do Its Movies Belong in Theaters: Some Netflix studio executives long for silver screen while co-CEOs want to keep most viewers streaming films from their couches. [WSJ]
- Rising Shipping Costs Prompt Businesses to Get Creative With Deliveries: FedEx, UPS and U.S. Postal Service have increased shipping fees as their costs rise. [WSJ]
Life & Work
- Permanent Daylight Saving Time? Sleep Experts Vote No: ‘That Idea is Terrible for Our Bodies’: Imagine having the light evening hours of summer all year round. This could be our reality if Congress passes the Sunshine Protection Act, making daylight saving time (DST) the new normal for all states. [CNBC]
- FCC Commissioner Says Government Should Ban TikTok: The Council on Foreign Investment in the U.S. (CFIUS) should take action to ban TikTok, Brendan Carr, one of five commissioners at the Federal Communications Commission, told Axios in an interview. [Axios]
- Didn’t Win Powerball’s $2 Billion Jackpot? You May Still Be One of The 22 People Who Won $1 Million: The largest lottery jackpot in history went to one lucky winner earlier this week. But an estimated 22 people may have million-dollar tickets on their hands. [CNBC]
- Paul G. Allen’s Art at Christie’s Tops $1.5 Billion, Cracking Records: A museum’s worth of masterworks from the Microsoft co-founder’s collection are offered in a two-part charity sale. Five topped $100 million. [NYT]
- Thousands Tell FAA to Fix Shrinking Airplane Seats: Federal agency sought public comment on seat sizes and safety in emergency situations; people responded with many more thoughts on flying. [WSJ]
