2h ago
Fed weighs lifting bank oversight thresholds, with top tier moved closer to $1 trillion
The Federal Reserve is working on a plan to raise the asset thresholds that trigger tougher oversight for large banks, potentially easing requirements for some lenders and encouraging consolidation. Under current rules, stricter standards kick in at $100 billion, $250 billion and $700 billion in assets, and banks say crossing $100 billion brings major compliance costs. The proposal would reindex the highest threshold closer to $1 trillion and shift some lower-tier requirements closer to about $150 billion.
2h ago
7h ago
Strategy seeks shareholder approval to shift STRC and three preferred stock series to daily dividends
Strategy is seeking shareholder approval to change how dividends are paid for four preferred stock series, including STRC, shifting payments from quarterly to daily. The move mirrors the structure used by Strive’s SATA preferred stock, which pays dividends every business day at a 13% annual rate. STRC fell to $71.25 in June, well below its $100 stated amount, before rebounding to $98.41, near the company’s $99 to $100 target range.
7h ago
8h ago
Wall Street rebounds as Brent slips 2.1% on hopes for Strait of Hormuz reopening
US stocks rebounded on Friday, ending a volatile week higher as oil prices fell. Brent crude dropped 2.1% to US$104.32 a barrel and WTI slid 2.3% to US$92.41 as investors bet a possible US-Iran agreement could ease fears of supply disruption at the Strait of Hormuz. Earlier concerns about Houthi strikes on Saudi Red Sea infrastructure and the risk of a strait blockade had lifted inflation expectations and pushed bond yields higher.
8h ago
11h ago
Cato Corp. to close 120 stores by fiscal year-end, more than 10% of its footprint
Cato Corp. said it will close 120 retail stores by the end of the fiscal year, representing more than 10% of its network of over 1,000 locations across 31 states. The women’s apparel retailer, which targets price-sensitive shoppers, said inflation and broader economic pressure have weighed on customers’ discretionary income. The company reported second-quarter net income of $1.1 million, down from $6.8 million a year earlier. Management said the closures are expected to improve operating results in fiscal 2027 and beyond.
11h ago