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SEC fines Citigroup Morgan Stanley over forex trading program
Reuters Citigroup Inc N C and Morgan Stanley N MS each agreed to pay more than 2 96 million to settle civil charges that they made misleading statements about a foreign exchange trading program they sold to investors the U S Securities and Exchange Commission said on Tuesday The SEC said neither bank a...
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Toronto biotech raises 200 million ahead of ADHD drug decision
TORONTO Reuters Highland Therapeutics Inc has raised 200 million from Morgan Stanley N MS ahead of the U S drug regulator s decision for a new drug that manages attention deficit hyperactivity disorder ADHD the Toronto based biotech startup said on Tuesday The drug HLD200 which underwent two Phase 3 stud...
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Fed should keep rate hike engine on idle Morgan Stanley
Investing com As the next Federal Reserve Fed monetary policy decision rears its head at the two day meeting scheduled for January 31 February 1 Morgan Stanley NYSE MS explained on Thursday why the U S central bank is likely to keep its engine revving without taking action for some time to come Not much has...
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Merrill Lynch hires former Morgan Stanley adviser Schur
Reuters Bank of America s Merrill Lynch said Adam Schur joined as an adviser after nine years at Morgan Stanley NYSE MS Schur who managed about 850 million in assets last year will work out of Merrill Lynch s White Plains New York office Merrill Lynch Global Wealth Management had about 2 1 trillion in ...
JPM
JPMorgan Says Should ve Downgraded Brazil Stocks But Too Late
Bloomberg JPMorgan Chase Co NYSE JPM said it s staying the course on Brazilian stocks even after acknowledging that it would have liked to have downgraded them a month or so ago before the country s currency weakened to its lowest since early 2016 and the Ibovespa benchmark lost 16 percent It is a relat...
JPM
Alibaba Subsidiary Raises 14 Billion To Fund Blockchain Development
Originally Alipay Ant Financial controls China s biggest online payment network and has a networth of over 150 billion Following the hugely successful series C funding round the new investment has been reportedly earmarked to fund the company s ongoing blockchain AI and IoT development This is by no means the fir...
JPM
These Five Currencies Are Most Exposed to Emerging Market Rout
Bloomberg Derivative traders are hedging their bets on five emerging markets where they see the greatest probability of declines in the next month The currencies of Turkey Brazil Mexico Russia and South Africa are seeing the world s biggest increases in their implied volatility gauges this quarter amid the wo...
JPM
Oil prices fall on rising U S and Russian supplies
By Christopher Johnson LONDON Reuters Oil prices fell on Monday pulled down by rising Russian production and the highest U S drilling activity in more than three years Analysts expect higher U S output to offset supply curbs by the Organization of the Petroleum Exporting Countries OPEC which have been in pla...
JPM
Trade Risks Are Evident in Markets If You Look Hard Enough
Bloomberg Opinion Following the disastrous Group of Seven summit this weekend where President Donald Trump upended a carefully crafted effort at unity among the world s top economic powers it s safe to say that most investors were probably expecting equities to stumble Monday Instead the MSCI All Country World...
JPM
Mexico judge signs arrest warrant for local JPMorgan head BVG World
By Christine Murray MEXICO CITY Reuters A judge in Mexico has issued an arrest warrant for the country head of U S investment bank JPMorgan NYSE JPM for alleged fraud in a dispute related to a 2007 loan to a Mexican real estate developer according to the company BVG World Eduardo Cepeda who has been at JPMor...
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Blockchain and cryptocurrency startup Paxos raises 65 million
By Anna Irrera NEW YORK Reuters Blockchain and cryptocurrency startup Paxos has raised 65 million from investors including venture capital firms RRE Ventures and Liberty City Ventures the New York based company said on Thursday Paxos will use the cash injection to expand its operations which include providing b...
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Citigroup denies criminal cartel allegations expected in Australia
SYDNEY Reuters Citigroup N C on Friday denied allegations of criminal cartel conduct expected to be laid by Australian prosecutors over its involvement in a 2 3 billion share issue it underwrote for Australia and New Zealand Banking Group Ltd AX ANZ in 2015 Citi steadfastly denies the allegations made agai...
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Australia threatens ANZ Deutsche and Citi with criminal charges over share issue
By Paulina Duran and Byron Kaye SYDNEY Reuters Australia is preparing criminal cartel charges against the country s third biggest bank and underwriters Deutsche Bank and Citigroup over a 2 3 billion share issue in an unprecedented move with potential implications for global capital markets The pending charge...
MPC
Marathon Petroleum beats by 0 07 beats on revenue
Marathon Petroleum NYSE MPC Q4 EPS of 1 05 beats by 0 07 Revenue of 21 2B 22 7 Y Y beats by 210M Shares 2 3 PM Press ReleaseNow read
MPC
Phillips 66 easily tops Q4 earnings estimates gets 2 7B tax benefit
Phillips 66 NYSE PSX is little changed premarket after easily beating Q4 earnings expectations and announcing a 2 3B capex budget for 2018 planning 500M more in spending than in 2017 Excluding special items including a 2 7B benefit due to the recent tax law changes Q4 adjusted earnings totaled 548M compared wi...
MPC
U S senator s biofuel overhaul faces resistance
By Jarrett Renshaw SAN ANTONIO Texas Reuters Texas Senator John Cornyn s plan to overhaul U S biofuels policy faces resistance from the oil and ethanol sectors reducing chances of a reboot to the controversial regulations sources familiar with the matter said The plan which the sources said could be released ...
MPC
Cushing s oil market clout wanes amid U S export boom
By Devika Krishna Kumar NEW YORK Reuters The volume of oil sitting in 300 steel tanks in a nine square mile radius in Cushing Oklahoma has long been a key barometer for the health of U S crude supply and the nation s benchmark for daily trading of billions of dollars in the commodity But those tanks could soon ...
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Indonesia s worried about market psychology with JPMorgan report
By Eveline Danubrata and Gayatri Suroyo JAKARTA Reuters Indonesia s reform minded finance minister seemed to invoke memories of the 1997 98 Asian financial crisis this week when explaining why she came down so hard on JPMorgan Chase Co NYSE JPM for downgrading the country s equity market JPMorgan published a ...
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Dollar lower stocks flat as caution creeps in ahead of Trump inauguration
By Vikram Subhedar LONDON Reuters The dollar edged lower while stocks were little changed on Friday as investors held back ahead of Donald Trump s inauguration as U S president and a speech that could shed some light on his economic policies Mounting questions about how Trump s administration would carry out an a...
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Morgan Stanley CEO James Gorman s 2016 pay up 7 pct to 22 5 million
By Olivia Oran Reuters Morgan Stanley N MS Chief Executive James Gorman s overall pay rose 7 percent in 2016 as the Wall Street bank s stock soared and it edged closer to hitting a key profitability target Gorman will receive 22 5 million in total compensation up from 21 million in 2015 spokesman Mark Lake...
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France enters green bond market with 22 year maturity AFT
PARIS Reuters France is entering the fast growing market for green bonds with longest maturity ever issued the Agence France Tresor said on Monday as it launched the sale As host of the 2015 Paris Agreement to combat global warming the government wants to put France at the center of the green bond market which ...
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Citi to make decision on Brexit plans in first half Europe chief
DUBLIN Reuters U S bank Citigroup NYSE C will make a decision on its Brexit contingency plans in the first half of the year and choose from a number of potential EU counties to relocate some investment banking business the bank s European chief said on Tuesday We will be making a decision in the first half ...
JPM
Cryptos Continue to Rise Dimon Says to Beware of Bitcoin
Investing com Cryptocurrencies were mostly higher on Thursday as investors continued to be bullish about bitcoin and other digital currencies Bitcoin was trading at 7 711 90 rising 0 58 the Bitfinex exchange as of 8 44 AM ET 12 44 GMT not far from a session high of 7 748 90 Other digital coins were mixed on...
JPM
U S services data suggests downward revision to first quarter GDP
WASHINGTON Reuters U S economic growth for the first quarter is likely to be revised lower after the Census Bureau s Quarterly Services Survey QSS report on Thursday showed a bit less spending on services than previously estimated JPMorgan NYSE JPM expects that first quarter gross domestic product could be pa...
JPM
Elliott s Singer agrees with Buffett Dimon on profit guidance
Reuters Hedge fund Elliott Management Corp Chief Executive Paul Singer said on Thursday he agreed with billionaire investor Warren Buffett and JPMorgan Chase Co N JPM CEO Jamie Dimon that companies should move away from providing quarterly earnings guidance The main point was that they thought that quarterly ...
JPM
Brazil banks gain after JPMorgan keeps overweight on Brazil stocks
Banco Santander MC SAN Brasil BSBR 3 5 Itau Unibanco ITUB 1 5 and Banco Bradesco BBD 1 4 rise in morning trading possibly buoyed by a JPMorgan NYSE JPM note saying it s too late to downgrade Brazilian stocks now Widely watched Brazil ETF NYSEARCA EWZ 1 2 Brazil real rose against the U S dollar ...
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Payments processor EVO Payments stock jumps in Nasdaq debut
Reuters Shares of EVO Payments Inc O EVOP rose as much as 26 percent in their debut on Wednesday giving the company a market valuation of 1 54 billion EVO s shares opened at 20 05 above their initial public offering price of 16 The offering of 14 million Class A shares by EVO Payments and selling stockh...
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Colombia heads for divisive runoff with peace deal at stake
By Helen Murphy and Daniel Flynn BOGOTA Reuters Colombia headed for its most divisive presidential race in decades after right winger Ivan Duque won Sunday s first round vote triggering a runoff with leftist Gustavo Petro that could upset a historic peace deal or see a reversal in business friendly policies It is...
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Retirees Should Know These 3 Facts About Required Minimum Distributions January 09 2020
Neglecting to withdraw a required minimum distribution RMD from an IRA by the due date brings about a painful tax code penalty 50 Yes you read that right If you are supposed to withdraw at least 4 000 and uh oh did not do as such you have to write the IRS a check for 2 000 Keep in mind that on January 1 ...
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Market Bubbles It s Not The Price It s The Mentality
Actually one of the dangers is that people could be throwing risk to the wind and this market could be a runaway We sometimes call that a melt up and produces prices too high and then if there s a shock you come down to Earth and that could impact sentiment I think this market is fully valued and not undervalued ...
MPC
U S Midwest oil refiners boost output cut region s dependence on Gulf Coast
By Jarrett Renshaw NEW YORK Reuters U S refineries from Ohio to Minnesota are capitalizing on access to cheap crude from Western Canada and North Dakota oilfields helping their region break a historic dependence on fuel from the Gulf Coast while redrawing oil trade maps Since the early 2000s crude and fuel flow...
MPC
Midwest refiners showing strength as dependence on Gulf Coast subsides
Midwest refiners such as Marathon Petroleum MPC 0 6 and Phillips 66 PSX 0 1 are capitalizing on access to cheap crude from western Canada and North Dakota oilfields helping the region break its historic dependence on fuel from the Gulf Coast Ten years ago we were 1M bbl day short on products with the Gulf ...
MPC
Marathon Petroleum beats by 0 28 beats on revenue
Marathon Petroleum NYSE MPC Q3 EPS of 1 77 beats by 0 28 Revenue of 19 4B 17 9 Y Y beats by 470M Press ReleaseNow read
JPM
JPMorgan s Dimon sees more innings left in economic recovery
JPMorgan JPM 1 4 CEO Jamie Dimon thinks this economic recovery has more oomph left in it Bloomberg reports It s taken nine years for the U S economy to grow 20 compared with some previous cycles when the economy increased 40 in less time We re probably in the sixth inning Dimon said Friday at an investor c...
JPM
Investors Dump Local Currency EM Bond Funds This Week ETF Watch
Bloomberg Two exchange traded funds tracking local currency bonds in emerging markets absorbed massive block sales this week as global fears of trade disputes and rising U S Treasury yields sent developing nation debt into a tailspin Investors moved more than 73 million of the SPDR Bloomberg Barclays LON BAR...
JPM
Brazil May inflation muted set to pick up on trucker protest
By Bruno Federowski BRASILIA Reuters Brazilian inflation likely held below the official target range in May a Reuters poll of economists showed before shifting up a gear in June due to the effects of a nationwide truckers strike Consumer prices tracked by the benchmark IPCA index probably rose 2 73 percent in t...
JPM
Exports government spending seen boosting Australia s first quarter economic growth
By Swati Pandey SYDNEY Reuters A bumper run of resource exports and higher government spending provided a much needed fillip to Australia s economy last quarter supporting views the economy is likely to extend its 26 year run without recession Figures from the Australian Bureau of Statistics ABS on Tuesday show...
JPM
South American Economies Dive South as Growth Outlook Dims
Bloomberg Pro business leaders in South America s largest economies are struggling to spark growth as their policies run head on into domestic crises and emerging market turbulence Brazil and Argentina have seen their 2018 growth estimates cut from around 3 percent earlier this year to 2 2 percent and 1 3 percent...
JPM
Credit Suisse to pay 47 million to settle hiring corruption probe
ZURICH Reuters Credit Suisse S CSGN will pay a penalty of about 47 million to resolve a U S Department of Justice corruption probe into its hiring practices in the Asia Pacific region between 2007 and 2013 the Swiss bank said in a statement on Wednesday The bank said no criminal charges were brought that i...
JPM
Buffett Dimon say quarterly profit forecasts harming economy WSJ
Reuters Billionaire investor Warren Buffett and JPMorgan Chase N JPM Chief Executive Jamie Dimon voiced concerns that the financial markets focus on short term goals is hurting the economy and urged companies to move away from providing quarterly earnings guidance according to the Wall Street Journal The press...
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Saudi banks plan U S dollar bonds despite ample liquidity sources
By Davide Barbuscia and Tom Arnold DUBAI Reuters At least three commercial banks in Saudi Arabia are preparing U S dollar debt issues banking sources said in what would be the first hard currency debt sales by Saudi banks in several years The banks want to diversify their sources of finance and boost capital le...
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CLO risk retention now just a memory as final appeal deadline passes
By Kristen Haunss NEW YORK LPC After three and a half years of litigation US Collateralized Loan Obligation CLO managers are now completely free of Dodd Frank skin in the game rules The deadline for regulators to ask the Supreme Court to consider their case in a 2014 lawsuit by the US loan trade association p...
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Unauthorized transfers siphon funds from Mexican banks central bank
By Michael O Boyle MEXICO CITY Reuters An as yet unknown amount of funds were sucked out of at least five Mexican financial groups through unauthorized transfers in recent days a top central bank official said on Friday while stopping short of calling it a cyber attack Lorenza Martinez head of Banxico s payme...
JPM
4 Trade Ideas For JP Morgan
Here is your Bonus Idea with links to the full Top Ten JPMorgan Chase Co NYSE JPM started higher out of consolidation after the election like all financials And like all financials it stalled in mid December After a month of tight daily ranges holding over the 20 day SMA and under that resistance it fell two...
JPM
Are High Yield ETFs Becoming Too Hot To Handle
Love is in the air this Valentines week and many income investors are smitten with the returns of their high yield investments The steady march higher in assets like junk bonds preferred stocks emerging market debt and even leveraged closed end funds has remunerated shareholders for their faith The poster child of...
MPC
Harvey throws a wrench into U S energy engine
By Ernest Scheyder and Erwin Seba HOUSTON Reuters A hurricane in the heart of the U S energy industry is set to curtail near record U S oil production for several weeks with the impact expected to reverberate throughout the country and across international energy markets Harvey hit the Texas shore as a fierce C...
MPC
Harvey threatens more U S Gulf refineries supply constraints emerge
By Erwin Seba HOUSTON Reuters Record rains and flooding from Tropical Storm Harvey triggered more oil refining outages in Texas on Tuesday bringing the total offline to more than 16 percent of overall U S capacity as the storm took aim at plants along the Louisiana coast As the storm moved up the Gulf Coast sup...
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Morgan Stanley Q4 EPS estimated at 0 65 on revenues of 8 28 bn
Investing com NYSE Morgan Stanley Q4 EPS estimated at 0 65 on revenues of 8 28 bn The U S bank is due to report earnings on Tuesday before the market opens It reported Q4 2015 diluted EPS of 0 39 on net revenues of 7 74 bn Trading income growth seen positive on increased U S election related volatility Net in...
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Tech vendor Misys launches P2P lending software for banks
By Anna Irrera NEW YORK Reuters Financial technology vendor Misys is launching software to enable banks to provide peer to peer lending to their customers as competition from young companies in the sector heats up The technology would enable retail and corporate banks to connect their customers looking for loans w...
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Morgan Stanley shares rise in pre market trade after Q4 earnings beat
Investing com Wall Street investment bank Morgan Stanley NYSE MS reported stronger than expected fourth quarter earnings ahead of Tuesday s opening bell sending its shares higher in pre market trade Morgan Stanley said adjusted earnings per share came in at 81 cents in the final three months of last year beati...
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Morgan Stanley sails past Q4 estimates with EPS of 0 81
Investing com NYSE Morgan Stanley Q4 earnings easily beat estimatesThe U S bank Tuesday said Q4 diluted EPS came in at 0 81 vs estimate of 0 65 and 0 39 a year earlier Revenues jumped to 9 0 bn from 7 7 bn a year earlier and compared with estimate of 8 28 bn Full year EPS was 2 92 on revenues of 34 6 bn M...
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At Davos retreat of globalization stokes fears for poor nations
By Sujata Rao DAVOS Switzerland Reuters In 2014 Arnold Kamler CEO of New Jersey based Kent International took a big step he resumed making bicycles in the United States 23 years after uprooting production to China This year he hopes to sell half a million U S made bikes For business and political leaders ...
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Wall St lower as market digests Trump May comments
Investing com U S stocks were lower early Tuesday after comments by Trump and Theresa May The DJI was off 0 25 at 10 15 ET after Monday s holiday The S P 500 lost 0 36 The tech heavy Nasdaq composite shed 0 58 The dollar index was off 1 12 as Trump warned of risks of the greenback s strength Investors were also ...
JPM
JPMorgan CEO Dimon sees U S economic expansion continuing
NEW YORK Reuters JPMorgan Chase Co N JPM Chief Executive Jamie Dimon said on Friday that the U S economic expansion may be only two thirds of the way through its course It could easily continue Dimon said at an investor conference in New York Because economic growth has been slow year by year over an unus...
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Cautious Saudi bankers give reality check on country s economic health
By Tom Arnold RIYADH Reuters Saudi Arabia s banks are preparing for muted lending growth this year providing a reality check on the state of the country s economy and government efforts to stimulate growth Saudi Arabia unveiled its Vision 2030 plan in 2016 to transform the country s economy which is still suffer...
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Xi s Top Economic Adviser to Visit U S on Trade Mission
Bloomberg Chinese President Xi Jinping s top economic adviser plans to visit Washington for follow up trade talks after Trump administration officials traveled to Beijing last week according to the White House President Donald Trump was briefed this morning by members of the U S delegation led by Treasury Secre...
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Xi and Trump Talked Trade Korea Ahead of Chinese Aide s Visit
Bloomberg President Donald Trump and Chinese President Xi Jinping discussed trade and North Korea in a phone call Tuesday as Xi s top economic adviser plans additional talks in Washington following last week s trip by U S officials to Beijing The two men discussed Xi s meeting with North Korean leader Kim Jong ...
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Bond yields risk trend break but confirming bear market will take time
By Karen Brettell NEW YORK Reuters Benchmark 10 year U S Treasury yields are threatening to break above a declining trendline that has contained the bonds for more than 30 years That may mark the beginning of a long term bear market though confirming such a trend could take years Expectations that the Federal R...
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Why Palladium ETF Has Soared In 2019
Palladium has gained investor attention on its continued rally in 2019 The auto catalyst metal just touched an all time high of 2000 per ounce The recent shutdown of palladium mines due to the world s second largest palladium supplier has been pushing prices higher Interestingly the has increased three times i...
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3 Investing Facts About Required Minimum Distributions You Need To Know December 19 2019
If you do not make a required minimum distribution RMD from your own or an inherited IRA by the specified deadline the IRS could hit you with a big penalty 50 For example if you were required to withdraw a minimum of 4 000 and you did not you would be obliged to pay 2 000 In case you re like most investors ...
MPC
Marathon Petroleum 2 on surprise Q1 profit as refining margins rise
Marathon Petroleum MPC 2 moves higher after reporting a surprise Q1 profit as refining margins jump 18 despite challenging market conditions While refining operating losses narrowed to 70M in the quarter from 86M a year ago refining and marketing margins rose 18 to 11 65 bbl well above a Barclays LON BA...
MPC
Marathon Petroleum approves additional 3B share buyback
Marathon Petroleum NYSE MPC 1 8 AH after announcing a 3B share repurchase authorization in addition to its previous authorization with 2 14B remaining as of March 31 MPC says it expects cash proceeds from dropdowns of midstream assets to its MLP and limited partner distributions to fund substantial ongoing r...
MPC
Marathon Petroleum says decision coming soon on Speedway spinoff
Marathon Petroleum MPC 0 8 indicates a decision is coming soon on whether to spin off its Speedway gasoline and convenience store chain into a publicly traded entity At a J P Morgan investor conference last week MPC Chairman and CEO Gary Heminger showed a presentation saying the Speedway evaluation would be comp...
MPC
Why record U S oil exports are poised for even more growth
By Devika Krishna Kumar and Marianna Parraga NEW YORK HOUSTON Reuters U S refineries are producing more fuel than ever as they seek to meet rising demand from overseas rather than the drivers on nearby roadways Last year the U S became the world s top net exporter of fuel an outgrowth of booming domestic pr...
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Exclusive Morgan Stanley cuts bankers bonuses as deals IPOs stall sources
By Liana B Baker and Olivia Oran Reuters Morgan Stanley N MS laid off a number of senior investment bankers last week and cut bonuses by roughly 15 percent because of a decline in revenue from dealmaking and capital raising across Wall Street people with knowledge of the matter told Reuters Individual banker...
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Morgan Stanley to pay 13 million for overbilling clients SEC
By Sarah N Lynch WASHINGTON Reuters Morgan Stanley NYSE MS will pay 13 million to settle civil charges after it overbilled some of its wealth management clients because of coding and other billing system errors U S regulators said Friday The Securities and Exchange Commission said the bank was also charge...
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Japan core machinery orders fall as Trump demand uncertainty sets in
By Stanley White TOKYO Reuters Core orders for Japanese machinery fell in November at their fastest in seven months a sign companies may be deferring capital expenditure as uncertainty over the incoming Trump Administration s trade policies and global demand worries take hold Core orders a highly volatile data s...
JPM
JPMorgan sees flat second quarter markets revenue verses year earlier
NEW YORK Reuters JPMorgan Chase Co N JPM corporate and investment bank chief Daniel Pinto said that second quarter markets revenue looks like it will be flat compared with a year earlier Speaking on Tuesday at an investor conference Pinto said that the drag of several one off items is reducing the benefit of ...
JPM
U S consumer confidence rebounds house prices increase
By Lucia Mutikani WASHINGTON Reuters Consumer confidence rebounded in May but households were a bit pessimistic about their short term income prospects even as they expected strong job growth to persist which could restrain consumer spending The Conference Board said on Tuesday its consumer confidence index rose...
JPM
Kuroda Leaves Magical Thinking Behind as BOJ Slogs Ahead
Bloomberg The thing is boys can t fly No matter how much they believe Bank of Japan Governor Haruhiko Kuroda may not say that on Wednesday when he speaks at an annual BOJ conference in Tokyo But he s been forced to acknowledge it at least implicitly since famously invoking Peter Pan in a speech at the same ...
JPM
Stocks battered as Italian crisis deepens
By Tomo Uetake TOKYO Reuters Asian stocks extended a global sell off on Wednesday as Italy s political crisis rippled across financial markets toppling the euro to a 10 month low pushing up borrowing costs for Rome and sending investors into safer assets such as U S Treasuries MSCI s broadest index of Asia Pac...
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Citi chairman says all options on table to find his replacement
CHICAGO Reuters Citigroup Inc N C Chairman Mike O Neill said all options were being considered to find a successor to replace him when he steps down in the next 12 months after reaching the retirement age of 72 The options include having Citigroup Chief Executive Officer Mike Corbat taking on the additional r...
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Citigroup declares 0 32 dividend
Citigroup NYSE C declares 0 32 share quarterly dividend in line with previous Forward yield 1 85 Payable May 25 for shareholders of record May 7 ex div May 4 Now read
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Citigroup Says Buy 3 10 Year Treasuries Target Rally to 2 65
Bloomberg Who wants to buy U S Treasuries at these levels Citigroup Inc NYSE C for one With the longest selloff in a year stalling Citigroup strategists Jabaz Mathai and Jason Williams say go long duration by purchasing 10 year notes at about 3 percent They re targeting a rally that pushes the yield dow...
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Prince Alwaleed s firm sells Movenpick Hotels to AccorHotels
DUBAI Reuters Prince Alwaleed bin Talal s Kingdom Holding SE 4280 and its partners have agreed to sell Movenpick Hotels and Resorts to its associate firm AccorHotels PA ACCP The deal is expected to close in the second half of 2018 Kingdom Holding said in a statement Kingdom has a 5 7 percent stake in Acco...
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Cyberwarfare populism top black swan events at Milken conference
By Anna Irrera BEVERLY HILLS Calif Reuters Cyberwarfare and populism are some of the top risks that could threaten global stability and financial markets in the years ahead investors and policymakers warned at the annual Milken Institute Global Conference this week as they characterized them as black swan event...
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Citi s senior banker says rate environment supportive of corporates raising funds
RIYADH Reuters The global interest rate environment is supportive of companies wanting to raise money said James Forese president of Citigroup N C and chief executive of the bank s institutional clients group Forese said there had been a normalization of interest rate policies but the global market was still...
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Citigroup C Stock Moves 0 76 What You Should Know
Citigroup C closed the most recent trading day at 74 55 moving 0 76 from the previous trading session This change was narrower than the S P 500 s daily loss of 0 86 At the same time the Dow lost 0 96 and the tech heavy Nasdaq lost 1 13 Heading into today shares of the U S bank had gained 4 54 over the ...
JPM
Where Are Silver Prices Headed In 2017
How low and how high will the price of silver range on the PAPER markets during 2017 Knowing the influence central bankers politicians HFT algos bullion banks and JPMorgan NYSE JPM exercise over increasingly managed markets it is impossible to answer the question and it is probably the wrong question to ask I...
JPM
Guess Stock Value Rated Positive
Guess Inc NYSE GES Is Under The Watchful Eye Of Analysts And Is In Great Potential Of Surging Analyst Reviews The apparel company shares rose on last week s session on lesser trade bulk than the customary Guess Inc stock was at 13 04 and traded at 0 62 points In other values it traded 4 75 from 50 day mov...
MPC
Strong dollar sends oil prices down on Tuesday
Investing com The price of oil declined on Tuesday with crude settling at 2 29 lower than yesterday and Brent also declining by 2 02 Prices were at a two week low mostly on the momentum of the strong dollar The dollar was up against the euro the pound and the yen on intraday trading on Tuesday Crude settled a...
MPC
Activist fund year end returns boosted by Trump rally
By Michael Flaherty NEW YORK Reuters Activist hedge funds recovered from a slow start last year ending 2016 with sharp gains spurred by a stock rally that followed the U S presidential election Hedge fund managers who exclusively or partially manage an activist portfolio of stocks cited the election of Presiden...
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Indonesia plans regulation to ensure bond dealers produce factual research
By Hidayat Setiaji and Gayatri Suroyo JAKARTA Reuters Indonesia is planning regulation to ensure primary bond dealers produce only factual research senior government officials said in a move that is likely to add to bankers concerns about a growing backlash over negative investment commentary The officials r...
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The yuan is under pressure again
The offshore yuan is under pressure again China s currency is down by 0 4 at 6 8762 per dollar as of 7 56 a m ET after earlier slipping by about 0 5 to 6 8844 per dollar This follows Friday s drop of 0 9 which was the biggest in about a year Meanwhile the onshore yuan is weaker by about 0 3 at 6 9390 per doll...
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Morgan Stanley partners with Addepar to see more of clients wealth
NEW YORK Reuters Morgan Stanley NYSE MS is rolling out a new software platform to 20 of its top financial advisory teams to help them see more of their wealthiest clients assets The bank which manages most of its technology in house said late Tuesday that part of its private wealth management division will u...
JPM
JPMorgan pushes ECB rate hike forecast to June 2019 after PMI fall
LONDON Reuters JPMorgan NYSE JPM said on Wednesday it has pushed back rate hike expectations from March 2019 to June 2019 after a business survey showed that euro zone economic growth slowed much more sharply than expected this month IHS Markit s Euro Zone Composite Flash Purchasing Managers Index PMI consi...
JPM
Tight supply weighs on U S home sales job market strengthening
By Lucia Mutikani WASHINGTON Reuters U S home sales tumbled in April as an acute shortage of properties limited choices for potential buyers the latest sign that the housing market was struggling to regain momentum While other data on Thursday showed an increase in the number of Americans filing for unemployment...
JPM
Brazilian electronics company Multilaser files for IPO
SAO PAULO Reuters Brazilian electronics company Multilaser Industrial SA on Thursday filed for regulatory clearance to launch an initial public offering according to a securities filing The company and its owners will sell an undisclosed amount of shares joining online lender Agibank and Bunge s Brazilian sugar ...
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Australia s NAB considers business exit as inquiry exposes misconduct
By Paulina Duran SYDNEY Reuters National Australia Bank AX NAB said on Tuesday it is considering selling its financial advice business as a major inquiry into the country s financial sector continued to reveal widespread misconduct by advisers with the big banks Andrew Hagger a member of NAB s 11 strong execut...
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Venezuelan banks shrivel as inflation roars and credit dries up
By Corina Pons CARACAS Reuters Venezuela s hyperinflation has turned the struggling OPEC nation s once powerful banks into warehouses of useless cash that are worth a total of only 40 million according to a Reuters analysis of regulatory data Although banks such as Citigroup Inc N C and Spain s BBVA MC BBV...
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Citi chairman says all options being considered for his replacement
CHICAGO BENGALURU Reuters Citigroup Inc N C Chairman Mike O Neill said on Tuesday all options were being considered for his replacement when he will retire in the next 12 months The options include having Citigroup Chief Executive Officer Mike Corbat taking on the additional role of chairman O Neill said at ...
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World s Largest IPO Drowns The Voice Of An Oil Bull Turned Bear
When one of the most respected oil bulls ever gives you a surprisingly bearish view of the market in coming years what do you do Well traders who are long oil sent crude prices up again this week giving little immediate regard to the wisdom of Andy Hall the former high riding BP LON BP executive 100 million...
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Citi Slapped With GBP43 9M Fine For Reporting Discrepancies
Citigroup NYSE C recently got embroiled in legal issues related to its reporting to regulators The Wall Street biggie has been penalized by the Prudential LON PRU Regulation Authority PRA the Bank of England s BoE banking supervisory arm for inaccurate reporting to regulators related to its capital and liq...
MPC
Marathon sues BP for breach of contract in Texas oil refinery sale
HOUSTON Reuters Marathon Petroleum Corp N MPC alleged BP Plc L BP failed to deliver a Texas oil refinery and three products terminals in the condition promised under a 2 4 billion sales agreement signed in 2012 according to a federal lawsuit filed on Monday Marathon took over the 459 000 barrel per day bp...
MPC
Some Iowa landowners raise concerns about Dakota Access pipeline work
Some Iowa landowners are complaining about construction of the Dakota Access oil pipeline saying crews have left behind debris released cattle from grazing areas and disrespected their land according to the Des Moines Register Several Iowa landowners have petitioned county inspectors supervisors and state regulato...
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Dakota Access pipeline decision said due in next few days
A decision on completion of the Dakota Access Pipeline near tribal lands in North Dakota will come in the next few days possibly by Monday says an Army Corps of Engineers spokesperson The Obama administration intervened in September to temporarily halt construction under Lake Oahe so the Army Corps could review perm...
MPC
U S government extends Dakota Access pipeline review
Energy Transfer Partners NYSE ETP 1 2 AH on news that the Obama administration plans to extend its review before deciding on a permit for the 3 8B Dakota Access crude pipeline further delaying work on a segment of the project that has been stalled since September The U S Army Corps of Engineers says further ta...
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Dollar retreats from 14 year high Swedish crown has best day in six months
By Jamie McGeever LONDON Reuters The dollar took a breather on Wednesday after reaching a 14 year high the previous day while the Swedish crown chalked up its biggest rise in six months after the Riksbank voted to ease policy further only by the narrowest of margins Sweden s central bank kept interest rates on h...
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Dollar stirs from slumber as yield gap yawns
By Marc Jones LONDON Reuters The dollar oil and world stocks rose on Wednesday following upbeat U S data that saw the gap between Treasuries and other benchmark global government bonds hit new highs Europe s main stock market London s FTSE FTSE reopened with a gain of 0 5 percent as it played catch up after ...
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Battered Toshiba out of easy options to plug nuclear hole
By Makiko Yamazaki and Taro Fuse TOKYO Reuters Faced with the prospect of a multi billion dollar writedown that could wipe out its shareholders equity Japan s Toshiba is running out of fixes it is burning cash cannot issue shares and has few easy assets left to sell The Tokyo based conglomerate which is still...