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Revolut has received conditional approval from the US Office of the Comptroller of the Currency for a national bank charter. Revolut founder and CEO Nik Storonsky announced the development in a LinkedIn post today. He said the approval marks a major step towards establishing a full-service banking operation in the United States. In January this…
Federal Reserve Governor Christopher Waller said Thursday that an inflation report coming out next week will largely determine whether or not he will support an interest rate hike later this month. The government will release August inflation figures Sept. 11, the Boston Herald reported, and if that report shows inflation continues to cool, Waller said…
Rocket Mortgage is mounting its latest challenge against United Wholesale Mortgage’s controversial “All-In” policy with a new broker transition program and permanent base-pricing cuts, designed to recruit brokers away. Processing Content Rocket Pro, the lender’s wholesale channel, announced Tuesday the launch of a program, called Moving Squad, that will help brokers transition their business from…
Almost started this story with a workout pun, but that would have been too much of a stretch. Fitness brand Reforming Pilates, which offers reformer equipment classes and heated mat workouts, has signed a 10-year, 2,500-square-foot lease to open a new location at 233 East 34th Street, according to landlord broker Meridian Capital Group. SEE…
Key insight: While markets had been favoring a federal funds rate hike this month, Federal Reserve Gov. Christopher Waller believes there may be good reasons for the central bank to hold steady. Expert quote: “To paraphrase John Lennon, I’m willing to give disinflation a chance.” — Federal Reserve Gov. Christopher Waller Forward Look: Waller, like…
On a month-over-month seasonally adjusted basis, the HPI Composite was essentially flat versus July, and the average selling price edged higher, a tentative signal that the pace of price decline may be moderating. TRREB President Daniel Steinfeld said market conditions could shift quickly. “If inventory tightens and home prices begin to rise, some buyers may face…
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Key Points Kratos Defense and Security Solutions (NASDAQ: KTOS) and Northrop Grumman (NYSE: NOC) present two distinct options for capitalizing on growing demand for military drones. Kratos is a high-growth pure-play drone maker, while Northrop Grumman is a large military contractor with significant exposure to drones and other franchise programs. Both defense stocks are down…
Some stocks will face very different environments depending on how Americans vote in November.
For years, the biggest threat to the U.S. government bond market was supposedly China. Many feared a politically motivated fire sale by America’s adversary could destabilize the U.S. financial system. That never happened. But as Beijing has shed its Treasury exposure, a new – and arguably greater – bond market risk has arisen closer to…