Exclusive: UBS quietly bans advisers from pitching booming SPACs to clients
CNN
UBS, a major player in the blank-check boom captivating Wall Street, has quietly banned its financial advisers from pitching SPAC stocks to wealth management clients, CNN Business has learned.
The restrictions, which haven't been previously reported, highlight the elevated risk of playing in what is one of the hottest corners of finance right now.
Low-income Americans have missed out on the wealth effects that have benefited the highest earners. The Fed, which has played a role in what economists refer to as the K-shaped economy, can’t easily fix this divergence in wealth.
A quirky copyright saga got in the way of viewers hoping to see the full version of the Christmas classic.
A lucky Powerball ticket holder in Arkansas has won an estimated $1.8 billion jackpot, the second largest in US lottery history, after matching all six numbers in Monday’s drawing.
The housing market has spent the last several years in a deep freeze, with high borrowing costs and soaring prices stalling sales and new listings. But US homebuyers may get some relief in 2026.
Gold is having its best year since 1979.
For years, a huge Amazon contract has been one of the few bright spots in the US Postal Service’s finances. But now the USPS plans to offer those last-mile services to additional customers to stem billions in ongoing losses – a move that risks losing its biggest customer.
Data this week showed that the American economy is growing at its fastest pace in two years — and yet polling shows the mood on Main Street is grim.
Lottery hopefuls can try their luck once again for the estimated $1.7 billion Powerball jackpot after no winners took home the grand prize Monday night.
One of China’s most popular short-video and streaming platforms was flooded with porn and violent content earlier this week, sparking outrage and bafflement in a nation where the internet is tightly controlled.
An initial reading of third-quarter gross domestic product showed the US economy expanded at an inflation-adjusted annualized rate of 4.3%, a far faster pace than the 3.8% recorded in the second quarter, according to Commerce Department data released Tuesday. That’s the fastest growth rate in two years.
When jobs or inflation data counter President Donald Trump’s preferred economic narrative, he typically offers alternative statistics to shine a more positive light on the economy. But Trump’s latest effort asks Americans to buy in to some puzzling logic.
A new rule by the Federal Communications Commission will make it impossible for US consumers to buy the next generation of foreign made drones, including DJI.
CBS News editor in chief Bari Weiss decided to shelve a planned “60 Minutes” story titled “Inside CECOT,” creating an uproar inside CBS, but the report has reached a worldwide audience anyway.