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Matt Zames, then-chief operating officer of JPMorgan Chase, center, in New York, Feb. 27, 2017.Kholood Eid | Bloomberg | Getty ImagesFormer JPMorgan Chase executive Matt Zames will join the Trump administration as an advisor to the Social Security agency, CNBC has learned.Zames is taking an unpaid position to help his former JPMorgan colleague Frank Bisignano, who became Social Security commissioner last year, tackle modernization of the agency, said people with knowledge of the move, who asked not to be named because they weren’t authorized to discuss it publicly. He starts Monday at Social Security Administration headquarters in Baltimore, Maryland, where…

Retail giants Target TGT) and Walmart WMT) both topped Q2 earnings expectations this week and raised their full-year outlooks, but investors reacted very differently.Target’s turnaround gained further credibility following accelerating sales and traffic growth, while Walmart shares tumbled after softer-than-expected U.S. comparable sales and cautious near-term guidance overshadowed an otherwise solid quarter.With that in mind, let’s compare their latest results, valuations, and dividends to determine which stock offers the more attractive investment opportunity. Target’s Turnaround Gains MomentumTarget delivered one of its strongest reports in several quarters, with Q2 sales rising more than 5% year over year to $26.53 billion and topping…

Free NewsletterGet the hottest Fintech Singapore News once a month in your InboxThe Singapore digital bank profit story is beginning to separate into three profitability camps, based on their performances for FY2025.GXS Bank recorded the largest loss in FY2025 at S$132 million, more than double that of any other loss-making digital bank.MariBank came next in line at S$55.6 million, then Trust Bank at S$53.5 million, and finally ANEXT Bank at S$49.8 million for FY2025.GLDB, meanwhile, successfully proved its mettle as the only digital bank in Singapore to swing in a profit at S$16.1 million.Source: 2026 Singapore Digital Banking ReportLooking deeper…

A view of a Bitcoin ATM at Northgate Mall on Feb. 5, 2026, in San Rafael, California.Justin Sullivan | Getty ImagesBitcoin’s more than 20% rally this week has sent the cryptocurrency to heights it hasn’t seen since May, but traders on prediction market platform Kalshi see it ending 2026 near current levels.Speculators estimate that bitcoin’s price at the end of 2026 will be around $75,000, based on an average of contracts on the platform. The contracts on Kalshi ask traders to place “yes” and “no” trades on whether the cryptocurrency will trade within various $5,000 ranges at midnight on Jan. 1,…

Rising bond yields and oil prices put stocks under pressure this week, while another bout of volatility in the AI trade tested investors’ conviction in the market’s biggest growth theme. The S & P 500 and tech-heavy Nasdaq Composite snapped their three-week winning streaks, down roughly 1.43% and 2.05%, respectively. Meanwhile, the Dow Jones Industrial Average slipped 0.85%. Much of the pressure came from the bond market, where long-term yields surged to levels not seen in nearly two decades as tensions with Iran pushed oil prices higher and revived concerns about persistent inflation. The Treasury Department stepped in Wednesday morning…

Jess Cartner-Morley writes about the changing nature of the weekend (16 August). In the 19th century, Saint Monday was a key feature of working-class railway excursions. There were many complaints, but a correspondent in the Birmingham Daily Post in 1860 commented that labourers who were being lectured about not working on Mondays might be compared with MPs who did not start work in the Commons until Thursdays, and that the workers actually achieved their targets despite taking Mondays off.Dr Susan MajorYork On the vexed question of who will pay for the Sussexes’ security on their return to the UK (Report,…

AI productivity shock may pull inflation up or down – BoE blog – Central Banking Skip to main content Close navigation menu End of drawer navigation content Sectoral origin and speed of change will be key factors, economists find An artificial intelligence-driven productivity shock may be inflationary or disinflationary depending on the sector in which it originates and the technology penetration rate, economists have found.Jenny Chan, a member of the Bank of England’s external monetary policy committee (MPC) unit; Silvana Tenreyro, the newly appointed chief economist at the International Monetary Fund and a former MPC member; and PhD student Ludovica…

(L-R): Jeffrey Thompson, Sara DeJay Willis and Shannon Willems You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. NewEdge Wealth, the ultra-high-net-worth division of NewEdge Capital Group, has opened its 20th office in Houston, with a team of advisors formerly with AllianceBernstein’s Bernstein Private Wealth Management that had been overseeing $2.2 billion in client assets. Jeffrey Thompson and Shannon Willems joined NewEdge Wealth as managing directors, while Sara DeJay Willis was named a vice president. The team also includes three client service associates. “Houston is one of the fastest-growing economies in the country and continues…

POWER POINTWhat I’m hearing from energy insidersGreetings from Colorado, where I had the opportunity to do a nearly hour-long chat with the Chair of the Federal Trade Commission. While most of the conversation with Andrew Ferguson was about A.I. and Big Tech, we did venture a little bit into energy vis-à-vis Europe and its energy woes.’Woes’ is the correct term. The continent has been in a constant state of nervousness since the Nord Stream pipeline was blown up in 2022.My take →  It’s incredible that we have satellites that can see into your car from thousands of miles high, but…

U.S. and Canadian officials were engaged in additional talks on Friday. Details about what’s in their new trade deal have trickled out.