Community Financial Credit Union Reveals New Brand With Refined Name, Logo
Plymouth, Mich. – Community Financial Credit Union, a non-profit financial institution owned and governed by its members, this week unveiled its new brand identity featuring a symbolic logo, vibrant...
Biden Signs Executive Order Blocking Investment in Chinese Technology
An executive order signed Wednesday by President Joe Biden would block and regulate high-tech U.S.-based investments going in Chinese technology. It covers advanced computer chips, micro electronics, quantum information technologies...
Fed Upgrades View of Recent Economic Growth to ‘Moderate’ From ‘Modest’
As expected, the Federal Open Market Committee raised the fed funds rate by 0.25 percentage points to a range of 5.25% and 5.50% at its July 26 interest rate...
Rocket Companies Appoints Intuit VP as New CEO
Rocket Companies has appointed Varun Krishna, currently an executive vice president at Intuit, as its new CEO, effective Sept. 5.
Rates Likely to Hold Steady at the Fed’s Next Few Decisions
As expected, the Federal Reserve raised the federal funds target a quarter percentage point to a range of 5.25% to 5.50% at the July 26 meeting of the Federal...
LAFCU appoints Leslie Rorie First African-American CFO
LANSING, Mich. — LAFCU has appointed Leslie Rorie as chief financial officer, the first African American to hold the position in the Michigan credit union’s 87-year history.
Rorie, a resident...
Apple First to be Valued at $3 Trillion
Barriers are made to be broken, and Apple has broken another one.
Apple recently became the first publicly traded company to close a day of trading with a $3 trillion...
Overstock.com Buys Bankrupt Bed, Bath & Beyond
SALT LAKE CITY (Globe Newswire) – Overstock.com, Inc., a leading online furniture and home furnishings retailer, announced the consummation of its acquisition of certain intellectual property assets of the Bed...
State Establishes Small Business Support Hubs to Help Small Businesses
The state has established the Small Business Support Hubs program to bolster Michigan's small businesses.
CPI Down ‘Sharply’ to Lowest Since March 2021
The Consumer Price Index (CPI) rose 0.1% in May, matching Comerica’s forecast. CPI was up 4.0% from a year ago, down sharply from April’s 4.9% to the lowest since...
Mild Recession Expected as Economy Continues to Struggle
Economists are expecting a recession to hit later this year, but if and when it does, many of them expect it to be a mild one.
Recent Bank Failures Could Have Impact on Smaller Businesses, Experts Say
Recent bank failures like Silicon Valley Bank and Signature Bank should give small-business owners pause to wonder what effect will be felt by their businesses, experts say.
Federal Reserve Pauses Interest Rate Hikes After 10 Straight Increases
After raising key interest rates 10 times in 15 months, the Federal Reserve announced Wednesday it is pausing rate hikes, at least for now.
Student Loan Payments Set to Resume as Part of Debt Ceiling Deal
WASHINGTON – After more than three years, students who have accumulated student loan debt are going to have to begin repaying it in late August.
Terms of the debt ceiling deal...
Cybercriminals Use Sophisticated Thievery To Steal Personal, Business Funds
With so much reliance on the Internet, social media and electronic data storage, cybercriminals are finding ways to break in and steal data and money.
Fed Policymakers Split on Need for Continued Rate Hikes
In the minutes of the May Federal Open Market Committee (FOMC) meeting, Fed policymakers were split about the need for more rate hikes this year. “Several” participants believed no...
After Another Rate Hike, Fed Softens Language About Future Raises
As expected, the Federal Open Market Committee (FOMC) raised the federal funds target 0.25 percentage points to a range of 5.00% to 5.25% on May 3rd. The Fed’s policy...
Producer Price Inflation Slowed in April: Experts
The Producer Price Index for Final Demand rose 0.2% in April after a 0.4% decline in March, revised from a 0.5% drop in the prior release.
Both consensus and Comerica...
First Republic Bank Sold to JPMorgan Chase
NEW YORK — JPMorgan Chase announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal...
Experts: Total CPI is Slowing, But Core Still Too Hot
Inflation is slowing as last year’s surges in gasoline and food prices drop out of the year-ago comparison, but core inflation is still too high.
The CPI rose 0.1% in...
