This Week in Finance News: 13 Stories You Need to See

A roundup of the week's most newsworthy financial industry press releases from PR Newswire, including the 2023 Fortune 500 and Binance's response to the SEC's complaint.

NEW YORK, June 9, 2023 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the finance industry stay on top of the week's most newsworthy and popular releases, here's a roundup of stories from the week that shouldn't be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

1. Resilient U.S. Economy Continues to Avoid Recession -- So Far
   "With core inflation coming down slowly, it's possible the Fed may continue to tighten monetary policy until we're in a recession," the report reads, adding that even with three months of additional data since the previous report, in March, "there has not been much more clarity as to the trajectory of the economy."
2. Fortune Announces 2023 Fortune 500 List
   In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $18 trillion in revenues (up 13%), while profits, down 15%, fell for the second time in the past three years. 52 companies on the 2023 Fortune 500 are led by women CEOs—an all-time high, up from 44 last year.
3. Binance Statement in Response to SEC Complaint
   "We want to be clear that while we take the allegations in the SEC's complaint seriously, they should not be the subject of an SEC enforcement action, let alone on an expedited basis. They are unjustified," the statement reads.
4. New Playbook to Drive Inclusion in Boardrooms across America, Turning the Lens Inward and Focusing on Culture of Inclusion
   "This publication is a testament to the Center for Inclusive Governance's ongoing journey toward creating an inclusive culture where every director feels valued, respected, and empowered to bring their authentic selves to the boardroom," said Tracy Gee, chief people officer, NACD. "It is an opportunity to promote dialogue, understanding, and empathy—and to foster an environment where everyone can contribute their unique perspectives and thrive."
5. Strong US Labor Market Continues to Defy Expectations
   The US labor market remains remarkably resilient, with total employment growing by a robust 339,000 jobs in May. This follows an upward revision of April's data to 294,000 total jobs added—another sign of the labor market's ongoing strength. Job gains in May were economy-wide, with almost every industry adding jobs.
6. Bank of America Institute Finds Pandemic Migration Trends Continue with Faster Population Inflow into Sun Belt Cities like Austin and Tampa
   BofA data suggests Baby Boomers are relocating to Las Vegas and Tampa while Millennials prefer Austin. Both groups are leaving the larger cities of San Francisco and New York.
7. BMO Real Financial Progress Index: Nearly Two Thirds of Americans are Waiting on Mortgage Rates to Drop Before Buying a Home
   Compared to a year ago, homebuyers are dealing with much higher costs of ownership due to a combination of elevated mortgage rates, persistently high home prices and limited inventory, leaving housing affordability near the most challenging levels in more than three decades as a result of Federal Reserve rate hikes, according to BMO Economics.
8. Survey: Businesses Bracing for Recession While Reversing Pandemic Cuts
   Of those who expect a recession, more than 70% say it will be similar or even worse than the Great Recession of '07 – '09. Just 19% of small business owners and 39% of mid-market business owners rate business conditions in the U.S. economy positively, down 8 points and 19 points, respectively, since September 2022.
9. New Report Finds 57% of College Students Lack Emergency Funds
   Trellis Company has released its annual Student Financial Wellness Survey, shedding light on the financial challenges faced by students and their perceptions regarding the value of a college education. The survey, conducted in the fall of 2022, included new questions that explore return on investment, childcare access, and availability of mental health services.
10. Paying for Healthcare Creates Increased Physical, Mental, and Financial Health Concerns for Insured Americans
    Brian Marsella, President, HPS/PayMedix, said, "If benefits managers knew how much stress medical billing was causing their employees and the toll it is taking on their physical and mental health, they would act to enhance their wellness programs to include financial strategies to help reduce the burden of paying for healthcare."
11. Savvy Ladies Get Health Savvy Panel to Address Your Money Mindset and the 4C's of Financial Wellbeing - Culture, Community, Communication, Confidence for Women
    Moderator Kathleen Burns Kingsbury, wealth psychology and behavioral change coach, and podcast host, whose passion is empowering women to break their money silence to talk, will lead the conversation with esteemed panelists.
12. 67% of Business Leaders Don't Think the Current Higher Education System Delivers the Skills Needed for the Workforce of Tomorrow
    Business leaders feel they learned more during their first two years in the workforce than from their higher education experience. Respondents cited that the top workforce-acquired skills were: technical/practical skills related to their field (53%), people management (55%), and project management (50%).
13. Consilient Survey Finds Money Laundering is a Misunderstood and Underestimated Problem Among Consumers
    The report found that consumers really do not understand the enormous extent of money-laundering that takes place every year. But 65% of consumers would consider switching banks if theirs was fined for money laundering.

Read more of the latest finance-related releases from PR Newswire and stay caught up on the top press releases by following @PRNfinance on Twitter.

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