News Highlights: Top Financial Services News of the Day - Thursday at 4 PM ET

FTX Founder Sam Bankman-Fried Sentenced to 25 Years

The sentence for crimes connected to the collapse of the FTX crypto exchange caps the meteoric rise and fall of the onetime crypto king.

Where Are This Year's Tax Refunds Going? Right Into a Debt Hole.

With credit-card debt at record levels and more households falling behind on loans, tax refunds are helping people make ends meet.

Bonds Got Relabeled. Now Millions of Americans Get Higher Electric Bills.

After Bloomberg reclassified certain utility bonds, borrowing costs rose.

UBS CEO Ermotti to Steer Credit Suisse Integration

UBS said said Sergio Ermotti is set to stay as chief executive officer to see through the integration of Credit Suisse, and sought to address concerns about its size and potential needs for tighter regulation.

Fortune Favors Early Movers in America's Property Crunch

Investors who are willing to buy buildings when everyone else is running scared typically get the biggest rewards.

Three Fed interest-rate cuts this year? Yes, top banking economists say.

Top economists at big U.S. banks predict the Federal Reserve will cut interest rates three times this year - with the first reduction in June - even though inflation is unlikely to slow much further in 2024.

Hunter Point Collects $3.3 Billion to Buy Stakes in Private Capital Firms

The firm founded by private-equity veterans Bennett Goodman and Avi Kalichstein has raised one of the largest first-time funds dedicated to acquiring stakes in private-fund managers.

Financial Services Roundup: Market Talk

Gain insight on the Baltimore bridge collapse, Jefferies Financial Group, Westpac and more in the latest Market Talks covering Financial Services.

The Fed's Waller Is in 'No Rush' to Cut Rates. Here's Why.

The Fed is in no rush to lower interest rates this year, said Federal Reserve Gov. Christopher Waller.

Discover Financial CEO Michael Rhodes Resigns

Discover said Michael Rhodes is resigning as CEO and president of the company, shortly after taking over both positions. Rhodes has been tapped as CEO of Ally Financial.