Households headed by people ages 65 to 74 have an average retirement-account savings of $426,000.

Americans stick with the same primary checking and savings accounts for about 17 years on average, that is longer than the average marriage.

Some big hedge-fund winners in 2022 will return some profits to clients highlighting their banner year.

At least two-thirds of CEOs of the biggest companies surveyed said they expected the next six months to bring worsening customer demand, industry conditions, access to capital, and domestic and global growth. By contrast, among both midsize company CEOs and large investors, two-thirds or more expect improvement in the same areas over the next six months.

In projections released this week, the central bank expects to raise rates ultimately to 5.1% by the end of 2023, a half-point higher than projected in September, and lower them only to 4.1% by late 2024.

The SBA issued roughly $390 billion in Covid disaster loans to nearly four million small businesses and nonprofits. Unlike forgivable loans issued through the federal Paycheck Protection Program, the disaster loans were designed to be repaid. Borrowers began repaying 427,000 loans in October or November. For 1.2 million Covid disaster loans, the first payments are due this month; another one million loans enter repayment in January.

Shares of ARK Innovation exchange-traded funds, a pandemic-era favorite largely made up of unprofitable, growth-oriented technology companies, are down 63% this year. The flagship fund is hovering near a five-year low.

In theory, savers could have earned $42 billion more in interest in the third quarter if they moved their money out of the five largest U.S. banks by deposits to the five highest-yield savings accounts—none of which are offered by the big banks.

Federal Reserve officials have raised rates this year at the fastest pace since the early 1980s.

Royal Bank of Canada has agreed to buy the Canadian unit of the British banking and financial-services giant HSBC Holdings PLC for 13.5 billion Canadian dollars, equivalent to US$10 billion.