Private Credit Is the Hot New Thing on Wall Street. But What Is It?

Feb 19, 2025 | Markets, Private Credit, Private Markets

It sounds mysterious, but it’s really just a loan—often a risky one—made by an investment fund instead of through a bank. Hedge funds? Quant trading? Old news. These days, everyone within shouting distance of Wall Street is talking about private credit—even if some of...

Bessent Says DOGE Effort Has Saved Estimated $50 Billion So Far

Feb 18, 2025 | Markets

US Treasury chief says no need to worry about private data Ukraine partnership will show US citizens a return on support US Treasury Secretary Scott Bessent said US taxpayers don’t need to worry about the security of their private data while Elon Musk’s Department of...

Federal Mortgage Insurer to Lay Off About Half Its Workforce

Feb 18, 2025 | Markets

The Trump administration is planning to lay off at least 40% of the workers at the federal agency that provides mortgage insurance on loans for people who otherwise wouldn’t qualify for one, according to two sources familiar with the agency’s plans. Federal officials...

Southwest to Cut 15% of Corporate Jobs in First-Ever Layoffs

Feb 18, 2025 | Markets

Reductions to affect about 1,750 roles beginning in April Carrier has been cutting costs in wake of activist battle Southwest Airlines Co. will cut about 1,750 jobs in its leadership ranks, a dramatic step to reduce expenses that mark the first layoffs in the...

Vanguard Overtakes State Street as World’s Biggest ETF

Feb 18, 2025 | Markets

Vanguard’s VOO has raked in $23 billion so far this year It’s not the first time that SPY’s crown has slipped Vanguard has unseated State Street for the title of the world’s biggest exchange-traded fund, ushering in a new world order for the $11 trillion industry. The...