July 6, 2025

business

Crypto

Democrats are drawing closer to the crypto industry despite Trump divisions

WASHINGTON (AP) — As President Donald Trump builds a crypto empire — including hosting a private dinner with top investors at his golf club — Democrats have united in condemning what they call blatant corruption from the White House. But the Democratic Party’s own relationship with the emerging crypto industry is far less cut and

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Investors

Tesla stock plunges as Musk’s feud with Trump spooks investors

By BERNARD CONDON, Associated Press Investors bought hundreds of billions of dollars of Tesla stock after Donald Trump was elected on a bet that politics were more important that profits. In three hours Thursday, they learned yet again how dangerous that gamble could be. Shares of Elon Musk’s electric vehicle maker plunged more than 14%

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Mortgage

Average rate on a 30-year mortgage in the US falls to 6.85% this week

By MATT OTT, AP Business Writer WASHINGTON (AP) — The average rate on a 30-year mortgage in the U.S. fell this week for the first time in a month, but borrowing costs for homebuyers remain elevated. The long-term rate dipped to 6.85% from 6.89% last week, mortgage buyer Freddie Mac said Thursday. A year ago,

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Banking

OCBC Premier Banking celebrates strong business growth, credits ‘twin-hub’ strategy

Driven by strong demand for wealth management and insurance solutions in Asia, OCBC posted record financial results for the third year in a row. The Singapore-based bank reported a net profit of S$7.6 billion (US$5.9 billion) for its 2024 financial year, and total income rose by 7 per cent to S$14.5 billion. Within the year,

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Investment

BlackRock removed from Texas investment blacklist after rolling back ESG policies

BlackRock has been removed from Texas’s investment blacklist, a major reversal that follows the asset management giant’s decision to scale back some of its controversial climate commitments. The move, announced Tuesday by Texas Comptroller Glenn Hegar, ends a three-year ban that had prevented state pension and investment funds from doing business with the world’s largest

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Finance

Evaluating life insurance needs over time – The Mercury

It’s easy for many of us to approach life insurance with a “I’ll handle that later” or a “set it and forget it” mindset, and to assume that you have time to sort out the details of adequate insurance coverage down the road. Yet, life insurance can play a key role in protecting your loved

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Banking

The Convergence of Fintech and Banking: The Gap Between UX and Functionality Is Closing: By Alex Kreger

In the past decade, the financial landscape witnessed a dramatic transformation driven by two distinct forces: fintech startups and traditional banks. Initially, fintechs emerged as UX-rich but often monofunctional challengers, while banks remained service-rich but struggled with digital customer experience. Today, however, these lines are blurring — fintechs are expanding into full-scale banks, and traditional

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Investors

Can Trump fix the national debt? Republican senators, many investors, and even Musk have doubts.

“All of this rhetoric about cutting trillions of dollars of spending has come to nothing — and the tax bill codifies that,” said Michael Strain, director of economic policy studies at the American Enterprise Institute, a right-leaning think tank. “There is a level of concern about the competence of Congress and this administration and that

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Investors

Elon Musk, Republican senators, many investors have doubts that Trump can fix national debt

The White House has viciously lashed out at anyone who has voiced concern about the debt snowballing under Trump, even though it did exactly that in his first term after his 2017 tax cuts. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. White House press secretary

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Investors

Can Trump fix the US debt? Even Elon Musk has doubts

WASHINGTON (AP) — President Donald Trump faces the challenge of convincing Republican senators, global investors, voters and even Elon Musk that he won’t bury the federal government in debt with his multitrillion-dollar tax breaks package. The response so far from financial markets has been skeptical as Trump seems unable to trim deficits as promised. “All

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