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Finance

Finance

online-banking-smartphone-financial-habits-millennials-resource-BBVA

Digital financial services are within everyone´s reach, but each generation has its own peculiarities when using them. Mobile banking apps have won over the centennials, while social networks influence Generation Y when it comes to changing banks, and Generation X confides in online banking. The baby boomers, meanwhile, prefer to take a stroll to the branch office.

Jackson Hole is a town of only 9,000 inhabitants located in a valley in the middle of the Rocky Mountains in the US State of Wyoming. Apparently, there is nothing newsworthy about it, and, so, why have we been reading and hearing its name so often in the media lately?

Clover Health and Bright Health, two insurtech companies dedicated to health insurance, have in recent months received nearly 300 million dollars in their funding rounds, contributing to the growth of investment in the sector.

Most people would agree that the U.S. economy’s current expansion cycle has been anemic. Since 2010, average real GDP growth has been 2.1 percent, significantly lower than 3.2 percent between 1992 and 2007. Over time, the cumulative difference between the two paths could be quite dramatic. The average person would be 17 percent less wealthy after 15 years, and 38 percent less wealthy after 30 years.

In 2007, one of the biggest financial crisis in modern history started, one that has brought drastic changes to the world’s economy.

The bursting of the financial bubble caused by subprime mortgages triggered a deep economic recession, especially in countries such as Spain.  The crisis also resulted in record-high unemployment rates that still affect large segments of the population.  This is how the crisis that started a decade ago has evolved and affected people and the economy.

BBVA has sold one of the largest loan portfolios in the Spanish market to an affiliate of Cerberus Capital Management, L.P. The portfolio, which has a gross nominal value of nearly 600 million euros, consists of loans from real estate developments distributed throughout Spain, with the largest number in Andalusia, Madrid and Catalonia.