Take it easy: central bank U-turns loosen financial conditions
(Reuters) - Rate cut bets and rallying equity and bond markets are feeding into a gradual loosening of financial market conditions that could potentially send world growth ticking higher by the end of the year, a closely watched index suggests.
BNY Mellon vows to stem billions in outflows from index products
BOSTON (Reuters) - BNY Mellon Corp's push to reinvigorate its money management business has yet to stem a continuous outflow of client cash from its $322 billion complex of index-based investment products.
Another $860 million recovered for Madoff customers in Kingate settlement: trustee
NEW YORK (Reuters) - The court-appointed trustee liquidating Bernard Madoff's firm on Wednesday said another $860 million may soon be returned to the swindler's customers, under a settlement with offshore funds that funneled money to Madoff for 14 years.
Andrew Left's Citron Capital posted net return of 24.7% in 1st half of 2019
(Reuters) - Andrew Left's Citron Capital posted a net return of 24.7% after fees and expenses in the first half of 2019, according to an investment letter posted on the fund's website Wednesday, but said "it has been an extraordinarily challenging environment to be a short seller."
Citigroup profit beats estimates on gains in consumer lending
(Reuters) - Citigroup Inc topped expectations for quarterly profit on Monday as a tight lid on costs and strength in consumer lending helped the third-largest U.S. bank counter weakness in its trading business.
Charles Schwab in talks to buy USAA wealth-management, brokerage units: WSJ
(Reuters) - Charles Schwab Corp
is in talks to buy brokerage and wealth-management operations from USAA for about $2 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Goldman banker highlights Morgan Stanley's Hong Kong IPO woes
HONG KONG (Reuters) - A senior Goldman Sachs
banker has highlighted to colleagues the role played by rival Morgan Stanley in failed Hong Kong IPOs following the collapse on Friday of Budweiser APAC's $9.8 billion initial public offering, according to an internal email seen by Reuters.
Nomura pays $26.5 million to settle U.S. charges over traders' lies about bond prices
NEW YORK (Reuters) - Nomura Holdings Inc will pay $26.5 million to settle U.S. Securities and Exchange Commission charges that it failed to properly supervise five former traders who lied to customers about mortgage bond prices.
Saving the world is on Sue Desmond-Hellmann's to-do list
NEW YORK (Reuters) - If you had $50 billion to try to solve the world's worst problems, what exactly would you do?
Fed seen cutting U.S. rates by 25 bps late July: BAML
NEW YORK (Reuters) - The Federal Reserve will likely reduce key U.S. borrowing costs by a quarter point at its upcoming July 30-31 policy meeting with the chance of a 50 basis-point decrease, Bank of America Merrill Lynch analysts said on Wednesday.