Sparrow Joining U-M Health Under Proposed Agreement
An agreement between U-M Health and Sparrow Health System is designed to expand services to mid-Michigan residents.
Fed Board Softens Stance on Future Rate Hikes
As expected, the Federal Open Market Committee (FOMC) raised the fed funds target 0.25 percentage points to a range of 4.75%-to-5.00% on March 22. The FOMC softened their forward...
Expert: Bank Investors the Victims in Collision of Extreme Fiscal, Monetary Policies
The collision of extreme fiscal and monetary policies has finally arrived, with the victims being investors in banks with narrowly focused deposit, lending, and securities portfolio strategies.
To be sure,...
Data Shows Credit Card Debt at Record High as Fed Raises Rates
The consistent raises in its key interest rates from the Federal Reserve may not be having much of an effect on how people are spending their money.
According to a...
Amid Banking Turmoil, Fed Raises Interest Rates Another Quarter-Point
In the wake of two of the largest bank failures in U.S. history, the Federal Reserve announced Wednesday it's raising its key interest rate another quarter-point.
T-Mobile Acquiring Mint as Part of $1.35 Billion Deal
BELLEVUE, Wash. – T-Mobile US announced that it has entered into a definitive agreement to acquire Ka’ena Corporation and its subsidiaries and brands: Mint Mobile, a successful direct-to-consumer prepaid...
Bally Sports Parent Company Files for Chapter 11 Bankruptcy Protection
Diamond Sports Group, which owns 19 networks operating under the “Bally Sports” banner, filed for Chapter 11 bankruptcy protection this week.
Diamond, the largest owner of regional sports networks in...
Economists Expect Fed to Raise Rates a Quarter-Point
Some economists predict the Federal Reserve will increase interest rates by a quarter-point at each of the next decision points.
Invest Detroit Ventures Names Lee Rawlings as Investment Director
DETROIT – Invest Detroit Ventures, a Detroit-based venture capital fund, has named Lee Rawlings as its new Investment Director. In his new role, Rawlings has responsibility for leading ID...
Amazon, One Medical Close on $3.9B Buyout
SEATTLE & SAN FRANCISCO (Business Wire) — Amazon and 1Life Healthcare, Inc. announced that Amazon completed its acquisition of One Medical.
The deal is worth a reported $3.9 bilion.
Amazon and...
Inflation Slows, But Fed Expected to Continue Rate Hikes
Economists say inflation data provided the dominant economic story, unemployment is down and the Fed is expected to continue raising interest rates.
Rocket CEO Jay Farner Announces Retirement
CEO Jay Farner announced he will retire in June after more than 27 years with Rocket Companies. Farner has been Rocket's CEO since 2017.
Flagstar-New York Bank Close Deal Worth $2.6 Billion
HICKSVILLE, N.Y. (PRNewswire) — New York Community Bancorp announced that its acquisition of Troy, Mich.-based Flagstar Bancorp, Inc. was completed Thursday, creating a regional banking franchise ranking among the...
New York Community Bancorp Gets Final Approval to Buy Flagstar Bancorp
The merger of New York Community Bancorp and Flagstar Bancorp creates an institution with 395 branches across nine states.
Grand Rapids-based NCTF Invests in B2B Payment Platform Zil Money, Inc.
GRAND RAPIDS, MI – New Community Transformation Fund (NCTF), a Grand Rapids-based venture fund aimed at boosting businesses owned by people of color in West Michigan, has made an...
Comerica Bank Names New Executive Vice President, National Businesses for Energy, Renewables and Waste
DALLAS – Comerica Incorporated announced that Joe Ursuy has been named to the new role of Executive Vice President, National Businesses for Energy, Renewables, and Waste. He will report...
Comerica Bank Promotes Michigan Leaders
Comerica Bank has promoted and expanded the roles of a pair of leaders from Michigan.
Fed Raises Rate .75%, Largest Increase in 28 Years
Fed Raises Key Interest Rate by .75%, the largest increase since 1994
Study: Majority of Americans Optimistic About Their Financial Future
CHICAGO (Globe Newswire) — More than half of Americans (55%) remain optimistic about their financial future even as inflation and fears of a recession weigh on their finances. The...
Raymond James Set to Acquire TriState Capital Holdings
ST. PETERSBURG, Fla., and PITTSBURGH, Pa. (Globe Newswire) — Raymond James Financial announced it has completed the acquisition of TriState Capital Holdings, Inc.
“The strategic and cultural fit between Raymond...
