This Week in Finance News: 10 Stories You Need to See

A roundup of the week's most newsworthy financial industry press releases from PR Newswire

NEW YORK, Nov. 11, 2022 /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. BofA Data Finds Overall Consumer Spending Continued to Grow in October though at a Slower Pace than Prior Months
   "Our internal data illustrates that the consumer still has forward momentum, though holiday spending looks a little tepid right now," said David Tinsley, senior economist for Bank of America Institute. "A rebound in auto supply has the potential to mean car purchases could partially offset an overall slowdown in discretionary spending."
2. Consumer Confidence in Housing Hits New All-Time Low
   Five of the six index components decreased month over month, including those associated with home buying and selling conditions, as persistently high home prices and unfavorable mortgage rates continue to fuel consumers' housing affordability concerns.
3. Black-Owned Fintech Company Launches Free Grant Search Platform
   Black-owned fintech and finance company Novae LLC has announced the launch of a new online tool designed to help small businesses to find grants and tax incentives that can help them to grow exponentially.
4. Morningstar Introduces Industry's First Global Unicorn Index Series
   Powered by PitchBook and Morningstar Indexes, the new benchmarks are the first to daily measure Unicorns, or privately held venture-capital companies with valuations of $1 billion or more.
5. Legendary NFL Quarterback John Elway Makes Significant Investment in Tom's Watch Bar, the Country's Newest Super Sports Bar Concept
   "I am extremely pleased with the opportunity to invest directly into Tom's Watch Bar – a well-developed early-stage concept with strong unit-level economics," said Elway.
6. Evolve Reveals the 12 Best Places to Buy a Vacation Rental in 2023 From well-known vacation destinations in the Smoky Mountains to a Pacific Northwest up-and-comer, the list provides valuable insight into where owners can maximize profits in the upcoming year, even in the face of economic headwinds.
7. Fall Starts College Admissions Journey: College Ave Student Loans Survey Finds 9 out of 10 Students Apply to Up to 10 Schools
   The survey also finds 61% of families are worried that inflation will affect their ability to pay for college; making financing college part of the fall application discussion.
8. Umpqua Bank Deploys $1 Million in Microloans to BIPOC and Women Entrepreneurs through Innovative Kiva Partnership
   Since April, the Umpqua Bank Loan Fund has supported nearly 200 BIPOC and women entrepreneurs, addressing a critical gap in access to funding for many small business owners.
9. Reorg and FinDox to Combine to Offer Best-In-Class Solutions for the Credit Markets Reorg, a global provider of financial and legal intelligence and data, announced that it has agreed to acquire FinDox, a leading document, compliance, and data management provider.
10. 165,000 High Schoolers Nationwide Gain Access to Personal Finance Education through NGPF's Gold Standard Challenge
    "NGPF's Mission 2030 to guarantee ALL high school students take a semester of personal finance before graduation is only possible because of the commitment of these educators," said Christian Sherrill, Director of Growth and Advocacy at NGPF. "The Gold Standard Challenge grant recipients are leading their communities to brighter financial futures."

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