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Monday, November 28, 2022

How Fed hikes could affect mortgages, car loans, card rates

Will mortgage rates go up? How about car loans? Credit cards? How about those nearly invisible rates on bank CDs — any chance of getting a few dollars more?

Americans are spending but inflation casts pall over economy

Americans are doing the main thing that drives the U.S. economy — spending — but accelerating inflation is casting a pall.

Theranos CEO wooed investors while lab director saw trouble

Fallen Silicon Valley star Elizabeth Holmes convinced media mogul Rupert Murdoch and other billionaires to invest in her biotechnology startup despite warnings its unconventional blood tests were dangerously unreliable, according to evidence presented Tuesday during her criminal trial.

Redistricting Process for County Supervisorial Districts Begins Tuesday

The Board of Supervisors Tuesday received initial testimony regarding the redrawing of supervisorial district boundaries in Riverside County, with speakers alternately seeking changes or signaling their satisfaction with the status quo, particularly in the Riverside metropolitan area.

Xiaomi beat Samsung in Europe for the first time

The past 18 months have thrown the smartphone market royalty into disarray. It was no surprise that Huawei was dethroned from its coveted spot but getting booted out of the world’s Top 5 was still painful. Samsung barely maintains a lead in the global market after a decrease in shipments, while Apple remains stable against all odds. Amidst this reshuffling, Xiaomi is emerging as the strongest contender, having surpassed even Samsung last quarter, at least in Europe.

Asian stocks rise following uptick on Wall Street

Asian stocks were mostly higher Wednesday as traders mirrored overnight gains on Wall Street during another busy earnings week.

Senators behind $1T infrastructure plan show off their work

The senators who spent months stitching together a nearly $1 trillion infrastructure package are now trying to sell it to the American people before a key vote expected this week that would push a long recognized national priority much closer to the finish line, after years of talk.

Genesis Bank (In Organization) Announces Oversubscribed Initial Capitalization and Lead Investors

NEWPORT BEACH, Calif., Genesis Bank (In Organization), announced today the completion of its oversubscribed initial capital raise of $57.0 million, led by investors Stephen H. Gordon, managing member of Gordon Ventures, and Arkview Capital. The private offering represents the largest de novo capitalization ever in Orange County, Riverside County, and San Bernardino County, and the second largest de novo capitalization in Los Angeles County. Stephen H. Gordon has a long-established history of investing his own private capital to found, lead, operate, build, and take public multiple banking institutions on the West Coast. Arkview Capital, founded and led by Joon Chang, Pavel Chernyshov, and Vijay Mehta, is a minority-certified private equity fund focused on investing in diversity-oriented businesses.

California worries it could lose $1B in taxes from exiting residents,...

California’s finance office has found that more than $1 billion a year in just personal income tax hangs in the balance because of the probability of people and companies moving out of state due to the high cost of doing business and home prices.

Inflation ahead? Even a top economist says it’s complicated

WASHINGTON (AP) — Two months of sharply rising prices have raised concerns that record-high government financial aid and the Federal Reserve’s ultra-low interest rate policies — when the economy is already surging — have elevated the risk of accelerating inflation.