Wells Fargo said late Tuesday it was shrinking its home-mortgage business, aiming to serve its own bank customers as well as people in “minority communities.”
Personal Finance Daily: Student-loan repayment pause helped young people ‘participate in the recent housing boom’ and Biden administration unveils sweeping changes to student loan repayment
Tuesday’s top personal finance stories.
The Wall Street Journal: Several top Rivian executives depart the electric-vehicle startup
Several top executives at Rivian Automotive Inc., including the vice president overseeing body engineering and its head of supply chain, have departed the electric-vehicle maker in recent months.
: IBM just broke a winning streak that lasted nearly three decades
IBM lost its crown as the top U.S. patent grantee in 2022 to South Korea’s Samsung, according to a ranking from an industry tracker
: Jefferies stock rises on merchant banking strength
Analyst sums up Jefferies as a decent result in an overall messy quarter as the company kicks off earnings season for Wall Street banks
: Amazon is challenging Shopify, and Shopify’s stock is losing so far
Amazon.com Inc. on Tuesday said it would expand its Buy with Prime business services to most online merchants nationwide by the end of the month.
Washington Watch: The Republican House sets up a committee on ‘the weaponization of the federal government’ — and terminates these panels
Republican lawmakers are establishing new committees now that they have control of the House of Representatives, while other panels are ending or changing.
The Tell: “A year of two halves”: Stifel’s Barry Bannister expects a near-term rally in U.S. stocks and then trouble later in 2023
Trouble may be brewing in the second half of this year, but there’s “a window” for a stock-market rally during the first six months of 2023, in the view of Stifel chief equity strategist Barry Bannister.
Market Extra: U.S. dollar suffers first ‘death cross’ since 2020 as rally unravels
The U.S. dollar has logged its first “death cross” in two-and-a-half years this week as a rally that peaked in September with the greenback at its highest level in more than two decades unwinds.
Beth Pinsker: Why you should protect your salary with ‘own occupation’ disability insurance, just like you insure your house
Damar Hamlin and Jeremy Renner’s injuries show the value of robust disability insurance, but most people don’t have it.