Student loan defaults are a bonanza for the debt collection industry.

Arconic, the industrial materials company that spun off Alcoa, has been treated with kid gloves by big asset managers. Thursday’s annual meeting could change things. By Gretchen Morgenson.

Snap Inc. missed Wall Street expectations for its first quarterly earnings as a public company on Wednesday, sending its shares plunging more than 20%.

People who use “God” and “promise” are more likely to default. By Seth Stephens-Davidowitz.

Tax cuts are great when they are actually tax cuts. In a system with a central bank, though, tax cuts are never tax cuts if there are no spending cuts to accompany them. This is because tax cuts without spending cuts simply mean more deficit spending. 

Soylent, a substance, is about to be everywhere. A team of queasy venture capitalists just invested $50 million into the company. This, despite the fact that Soylent is perhaps best known for lying about its ingredients and giving people fits of relentless vomiting and uncontrollable diarrhea.

Plastc launched in 2014 with the promise of shipping a single card that could digitally hold 20 credit or debit cards that a user could switch between.

Wells Fargo & Co. has been ordered to rehire a former Los Angeles-area bank manager who federal officials say was fired because he reported potential fraud to his superiors and to a bank ethics hotline — a claim the bank denies even as it has acknowledged problems with its hotline. The Occupational Safety and Health Administration said Monday that the San Francisco bank must not only rehire the whistleblower, who was fired in 2010, but pay him $5.4 million in back pay, damages and legal fees.

Today the world is dominated by 30 financial corporations that hold more than half the shareholdings of its corporate giants. And they follow the logic of finance capital – the logic of money.

Snap has given a final price for its IPO, setting the company's valuation at nearly $24 billion with a price of $17 per share.

They won't give you interest for the money you give them for free....and now you have to pay them to use your money for free. These are high powered parasites.

The financial needs of home-based businesses are completely different from those of larger brick-and-mortar companies. For example, when you decide to start a home-based business, you do not need to worry about the down payment to obtain commercial real estate. However, remember that for your business to succeed, you will need to have a rock-solid financial management plan in place.

Donald Trump’s companies are almost $1.8 billion in debt to more than 150 institutions, a new report has suggested – raising fresh questions about potential conflicts of interests when the Republican takes office in January. The new evidence exposes the extent to which the businessman will soon be responsible for regulating many of the institutions he owes sizeable amounts of money to. Mr Trump has previously declared $315 million (£254 million) of debt owed to ten different lenders. 

With a median household income of $40,581, millennials earn 20 percent less than boomers did at the same stage of life, despite being better educated, according to a new analysis of Federal Reserve data by the advocacy group Young Invincibles. The analysis being released Friday gives concrete details about a troubling generational divide that helps to explain much of the anxiety that defined the 2016 election. Millennials have half the net worth of boomers. Their home ownership rate is lower, while their student debt is drastically higher.

Anthropologist David Graeber explores the ways debt has shaped society over 5,000 years. [Audio, region-free]

Newly released transcripts show bankers blaming unemployment on the unemployed, rather than, say, bankers. By Matt Stoller.

“How do we contradict a president making representations about what the intelligence community has to say when the information is classified?” By Sarah D. Wire.

More than $10 billion in transactions never appeared on the books.

Bitcoin has broken through its all-time price high.

The company, which was once valued at $6 billion , sold to rival Groupon for $0.

Noam Chomsky has warned the Donald Trump-fuelled rally in capital markets is coming to a close and another financial crash is on the horizon. The linguist, philosopher and social critic said the President’s “anti-estabishment” status was a “joke” given his establishment appointees and anti-regulation policies, which have encouraged the stock market. “What's anti-establishment?” he asked, as reported by AlterNet.

Kviabryggja Prison in western Iceland doesn’t need walls, razor wire, or guard towers to keep the convicts inside. Alone on a wind-swept cape, the old farmhouse is bound by the frigid North Atlantic on one side and fields of snow-covered lava rock on another. To the east looms Snaefellsjokull, a dormant volcano blanketed by a glacier. There’s only one road back to civilization. This is where the world’s only bank chiefs imprisoned in connection with the 2008...

A new trove bigger than Wikileaks exposes the hidden underworld of drug dealers, sex traffickers, and tax cheats. Fusion takes you inside the law firm that sells secrecy to drug dealers, dictators and alleged sex traffickers.

U.S. regulators failed five big banks on Wednesday, including JP Morgan and Wells Fargo, on their plans for a bankruptcy that would not rely on taxpayer money, giving them until Oct. 1 to make amends or risk sanctions. The move officially starts a long regulatory chain that could end with breaking up the banks.

Global central banks sold a net $17 billion in U.S. Treasury bonds in March, a move by central banks to soften the impact of the global slowdown on their economy.

A U.S. appeals court on Monday threwout a jury's finding that Bank of America Corp wasliable for mortgage fraud leading up to the 2008 financialcrisis, voiding a $1.27 billion penalty and dealing the U.S.Department of Justice a major setback.

They maintained their wealth through various sieges, Napoleon, Mussolini, and two world wars.

Some hedge funds profited on Brexit, including ones run by George Soros, Stan Druckenmiller, Crispin Odey, Nancy Davis' Quadratic Capital, and Schonfeld Group.

Poland’s central bank said it’s taking its cue from the economy in leaving borrowing costs unchanged for a 13th month, as the revamped policy council looks past the longest bout of deflation in 60 years to defy expectations for deeper easing.

Fraud, Santeria rituals and an unsolved killing at Doral Bank. By Zeke Faux.

The UFC has been sold for approximately $4 billion to a group led by Hollywood talent agency WME-IMG.

Apparently the message of the financial crisis didn’t get across Quick: If you take out a $1000 loan that has a 20% rate, how much will you owe a year in interest? Answer: $200. But if you got that wrong, you’re not alone. Nearly two thirds of Americans can’t calculate interest payments correctly, according to a new study. About a third said they didn’t even know how. One of the silver linings of the financial crisis was that it was supposed to have taught many Americans a lesson, albeit painful, about the dangers of debt, and financial issues in general. Apparently, the message, though, didn’t get across.

If you want to understand the relationship between financial markets and innovation, consider the story of how the Beatles helped revolutionise medical imaging.

Warren Buffett has donated $2.9 billion worth of stock to five charities on Wednesday, an official filing has shown.

The French philosopher outsmarts the lottery. By Roger Pearson.