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Top stories summarized by our editors
9/24/2021

Prince Harry and Meghan, the Duke and Duchess of Sussex, came to New York City to attend an event advocating for vaccine equity. The couple visited the observatory atop One World Trade Center and posed for photographs with New York Gov. Kathy Hochul and New York City Mayor Bill de Blasio.

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The Associated Press
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Duchess
9/24/2021

A survey by Nationwide finds 67% of advisors expect a pronounced increase in mergers and acquisitions among registered investment advisor firms in the year ahead, with 54% of respondents saying they expect the trend to have a positive effect on their business. Nationwide's Craig Hawley says "financial professionals in the wirehouse and broker-dealer channels are more bullish about M&A than we've seen in years."

9/24/2021

The Securities and Exchange Commission is requiring off-exchange stock issuers on the Pink Market to provide updated financial information to investors by Tuesday or face delisting. Firms on the Pink Market, frequently penny stock issuers, are popular with retail investors, but operator OTC Markets Group says many firms are unlikely to comply with the requirement in time, meaning up to 2,000 firms could be delisted.

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Reuters
9/24/2021

Total household wealth reached $141.7 trillion in the second quarter, a record level that is $5 trillion more than the amount in Q1, according to Federal Reserve data. Consumer credit rose to an annual rate of 8.6% from 3.6% in Q1, while consumer debt rose to 7.9% from 6.7%.

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The Hill
9/24/2021

The Chinese government is advising local officials to get ready to cope with the fallout from the possible demise of China Evergrande Group, sources said. Local governments have been instructed to prepare to deal with large-scale protests, mitigate job losses, and to discuss contingency plans for Evergrande's unfinished projects with other developers.

9/24/2021

The yields on US and UK government debt rose Thursday after the number of Federal Reserve officials predicting an interest rate hike in 2022 increased and the Bank of England said there is now a stronger case for a "modest tightening of monetary policy" in the future. On the same day Norway's central bank raised interest rates, the first major Western country to do so since the pandemic hit.

9/24/2021

The UK's inflation rate will climb above 4% toward the end of this year, largely due to higher energy costs, and is likely to remain there well into 2022, the Bank of England said. The central bank added that supply chain bottlenecks are holding back the economic recovery from the pandemic and lowered its growth forecast for the third quarter by 1%.

9/24/2021

The People's Bank of China injected a further $18.6 billion into the nation's financial system today through reverse repurchase agreements, on the heels of the largest such move since January on Thursday. The government is trying to bolster confidence in the financial system in the face of worries about China Evergrande Group.

9/24/2021

Expansion of the European and US economies slowed in September as businesses were hit with supply chain disruption and concerns about the coronavirus Delta variant, according to data from purchasing managers' surveys. Services and manufacturing companies in Europe and the US reported growth slowing, although the downturn was strongest in Europe.

9/24/2021

The climate change progress likely to be achieved at the upcoming COP26 United Nations summit could "broaden out" the global recovery and drive medium-term growth, according to former Bank of England governor Mark Carney. There could be as much as $2.5 trillion of energy sector investment opportunities that would boost growth, he said.