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BEIJING (Reuters) – Alibaba, Tencent, Suning, and car makers including Chongqing Changan Automobile have set up a $1.5 billion Chinese ride-hailing venture, a move that could test the dominance of ride-sharing giant Didi Chuxing. Chongqing Changan Automobile s... More »
SINGAPORE (Reuters) – A former Goldman Sachs Group Inc. (GS.N) banker is in talks with U.S. prosecutors to potentially plead guilty to criminal charges stemming from an alleged scheme to steal billions of dollars from a Malaysian state investment fund, the Wal... More »
Australia's Macquarie Group Ltd has overtaken Goldman Sachs to break into the top three banks for commodities business, having significantly expanded its U.S. energy operations in recent years while rivals cut back. More »
Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe's single market, according to a Reuters survey of firms employing the bulk of workers in international finance. More »
Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe's single market, according to a Reuters survey of firms employing the bulk of workers in international finance. More »
ZhongAn Online Property and Casualty Insurance Co, China's first internet-only insurer, has covered the institutional tranche of its up to $1.5 billion initial public offering (IPO) multiple times over, sources close to the deal said on Monday. More »
Credit Suisse has set up a new department to nurture socially conscious investing, the latest effort by a major bank to cater for growing demand for so-called impact investing. More »
Morgan Stanley plans to bring its mortgage origination business in-house to improve customer service and generate more business, two people familiar with the matter told Reuters on Friday. More »
Europe's regulators are competing to hire risk specialists to prepare for an influx of banks escaping Brexit, nudging up salaries and stretching staff budgets. More »
The U.S. Securities and Exchange Commission (SEC) on Friday said it planned to approve an application that would let Vanguard Group, the world's second largest asset manager, offer exchange-traded versions of its actively managed mutual funds. More »
ZhongAn Online Property and Casualty Insurance Co Ltd, China's first internet-only insurer, secured Hong Kong stock exchange approval for its planned initial public offering which could raise more than $1 billion, sources with direct knowledge of the deal said... More »
The head of the Financial Industry Regulatory Authority told a congressional committee on Thursday that FINRA overhauled its policy on allowing public access to information it has on brokers' professional and financial records and will allow the public to down... More »
Revenue at the world’s 12 largest investment banks rose in the first six months of 2017 thanks to a stronger performance in the underwriting of debt and equity issues compared with a year ago, a survey showed on Thursday. More »
Goldman Sachs Group Inc will detail plans to turn around performance at its core bond-trading unit next month after unusual pressure from large investors frustrated by vague explanations of its troubles, people familiar with the matter told Reuters. More »
Middle East investment companies are ramping up their lending to businesses, providing a lifeline for small and medium-sized firms struggling to secure finance from banks that tightened credit after a suffering rise in bad loans. More »
Swiss bank Vontobel has agreed to buy a roughly 2 billion Swiss franc ($2.1 billion) portfolio of eastern European private banking clients from Notenstein La Roche Private Bank Ltd, it said on Monday. More »
Goldman Sachs (GS.N) received approval on Sunday to trade equities in Saudi Arabia, joining the growing band of western investment banks and fund managers expanding in the kingdom. More »
I'm here to send you the regards of the Federal Chancellor. I am entitled to tell you we want you in Germany. This private message from Angela Merkel, delivered by a regional politician to Wall Street bankers last year, is having the desired effect. More »
Deutsche Bank AG and Bank of America Corp agreed to pay a combined $65.5 million to settle investor litigation accusing large banks of rigging the roughly $9 trillion government agency bond market over a decade. More »
Two lawyers appointed to senior jobs at the U.S. Securities and Exchange Commission have ties to major companies including financial firms Goldman Sachs Group Inc (GS.N) and Wells Fargo & Co (WFC.N) that could complicate efforts to regulate them, according to ... More »
Investors who place wagers on the direction of interest rates got a new set of U.S.-listed investment products on Wednesday, but their complexity may prove an obstacle to them gaining broad acceptance. More »
Egypt's Beltone Financial will launch a $1 billion investment fund in fixed income instruments in September, its chief executive officer told Reuters on Monday. More »
Saudi Arabia favours New York for the main foreign listing of state oil giant Aramco, even though some financial and legal advisers have recommended London as a less problematic and risky option, people familiar with the matter told Reuters. More »
SoundCloud, the world's most popular streaming music app, but one that has struggled to find a profitable business model, said it received new funding on Friday, insulating it from potentially running out of cash this year. More »
The U.S. Department of Labor will give wealth management companies more time to get in line with the new "fiduciary rule," a regulation that requires financial advisers to put retirees' interests ahead of their own, the regulator said on Wednesday. More »
A group of U.S. senators from both parties on Wednesday turned up the heat on Wells Fargo Inc. over its latest scandal, in which hundreds of thousands of car-loan borrowers were charged each month without their knowledge for collision insurance, which many of ... More »
Borrowers unwittingly charged for auto insurance when they took out car loans from Wells Fargo & Co asked a U.S. court on Friday to force the bank to help them repair their credit scores. More »
FILE PHOTO: Headphones are seen in front of a logo of online music streaming service Spotify in this February 18, 2014 illustration picture. Spotify now has 60 million paying subscribers, adding 10 million subscribers in less than five months, a spokeswoman fo... More »
Traders work in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, July 28, 2017. Lack of volatility in financial markets that has hit ‘macro’ hedge funds in the first half of the year has not stopped some investors ... More »
File photo: Thomas Glocer speaks at the TD Securities Telecom and Media Forum in Toronto, June 9, 2011. Morgan Stanley board member Thomas Glocer will take over the role of independent lead director starting in September, the bank said on Thursday. More »
The logo of Doha Festival City mall is seen in Doha, Qatar, July 13, 2017. Qatari shopping mall operator Doha Festival City said it remained in discussions with banks to amend a $1 billion loan after bankers said a refinancing of the facility had been put on h... More »
The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. BlackRock Inc (BLK.N), the world’s biggest asset manager, reported an 8.6 percent rise in quarterly profit on Monday, helped by higher fees. More »
Cost-cutting U.S. brokerage and asset manager Charles Schwab Corp is making plans to launch what could be its first new exchange-traded funds in nearly four years, a filing with U.S. regulators showed on Friday. More »
FILE PHOTO — People walk beneath a Citibank branch logo in the financial district of San Francisco, California July 17, 2009. Three of the six biggest U.S. banks kicked off the earnings season on Friday, reporting profits that topped Street estimates but faile... More »
The sign outside the Wells Fargo & Co. bank in downtown Denver April 13, 2016. Britain’s Equiniti Group Plc said it would buy Wells Fargo & Co’s share registration business for $227 million as it looks to enter the United States, the largest and most active sh... More »
A Barclays bank building is seen at Canary Wharf in London, Britain May 17, 2017. Barclays (BARC.L) announced on Wednesday board appointments for its non-ring fenced business Barclays International (BI), to comply with new post-crisis rules forcing British ban... More »
Razer Inc, a gaming hardware maker backed by Intel Corp and Hong Kong billionaire Li Ka-shing, plans to go public toward the end of October in an IPO that will value the company at up to $5 billion, a person familiar with the deal said on Wednesday. More »
The logo of Goldman Sachs is displayed in their office located in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo – RTSPELC Investors have pulled an estimated $26.7 billion from Goldman Sachs Asset Management’s mutual funds so far in 2017, accor... More »
Israel is looking for firms to manage four high-tech investment funds that will be traded on the stock exchange and given state protection for any losses, the government said on Sunday. More »
FILE PHOTO: Children walk past a branch of Mitsubishi UFJ Financial Group (MUFG) in Tokyo November 14, 2012. REUTERS/Yuriko Nakao/File Photo Mitsubishi UFJ Financial Group Inc (MUFG) aims to tap into the expertise of partner Morgan Stanley and expand into weal... More »
A Bank Of America sign is pictured in the Manhattan borough of New York August 21, 2014. REUTERS/Carlo Allegri U.S. authorities have tried to seize millions of dollars associated with several companies that deal with North Korea, including the country’s milita... More »
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files Canadian mergers and acquisitions rose about 13 percent to C$120.5 billion ($93.2 billion) in the first half of 2017,... More »
The rising sun lights trees in Central Park above the southern portion of the Manhattan borough of New York, U.S., November 2, 2016. REUTERS/Lucas Jackson “Time for a prenup?” is not a typical title for a summer school course, but it was one of the most popula... More »
Independent investment management firm HQ Capital named Jeremy Katz as a co-head of its real estate group. More »
French Finance Minister Bruno Le Maire leaves after the weekly cabinet meeting at the Elysee Palace in Paris, France, June 28, 2017. REUTERS/Charles Platiau France will set up a special court to handle English-law cases for financial contracts after Britain le... More »
William ‘Bill’ Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid Bayliss More »
A combination file photo shows international banks Morgan Stanley, Barclays, Goldman Sachs, JPMorgan, Credit Suisse, Citigroup and Bank of America Merrill Lynch from Reuters archive. REUTERS/File photos The 34 largest U.S. banks have all cleared the first stag... More »
Stifel Financial Corp said on Wednesday three financial advisers joined the private client group of its broker-dealer subsidiary, Stifel, Nicolaus & Co Inc. More »
Two former partners at hedge funds Corvex Management LP and Trian Management LP are winding down the fund they launched late last year, after making just a few investments. More »
A federal jury on Thursday delivered a mixed verdict for three former Nomura Holdings Inc traders accused by the U.S. Department of Justice of lying to customers about the prices of mortgage bonds they bought and sold. More »
Electronic broker Instinet LLC, a unit of Nomura Holdings Inc, named Scott Douglass as U.S. head of sales for its commission management services (CMS) business, based in New York. More »
The Morgan Stanley logo is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 19, 2017. REUTERS/Brendan McDermid Morgan Stanley is developing a new digital mortgage application tool in a bid to ... More »
Sirius XM Holdings Inc, the U.S. satellite radio company controlled by John Malone’s Liberty Media Corp, is seeking to invest in internet music provider Pandora Media Inc, people familiar with the matter said. More »
FILE PHOTO: A sign is displayed in the reception of the Sydney offices of Goldman Sachs in Australia, May 18, 2016. REUTERS/David Gray/File Photo U.S. savers who routinely scour personal finance sites for the best deposit rates are soon going to see an unusual... More »
Investment firm Adams Street Partners said on Thursday it hired industry veteran Martin vom Hagen to head its newly established office in Munich, Germany. More »
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Wells Fargo Advisors (WFC.N) will start offering a new share class of mutual funds next month as part of its plan to comply with the new U.S. Labor Department regulatio... More »
International buyout groups and Chinese investment funds are expected to submit bids for Israeli irrigation firm Netafim, which could fetch around $1.5 billion, within the next few weeks, two banking sources said on Friday. More »
New rules on pricing investment research are shaking up the European fixed income, currency and commodity (FICC) industry, with many funds planning to scale back or ditch a service that banks use to drum up business. More »
The sign outside the Wells Fargo & Co. bank in downtown Denver April 13, 2016. REUTERS/Rick Wilking/File Photo Wells Fargo & Co will offer more money in recruitment bonuses to financial advisers after competitors announced plans to pull back from recruiting, t... More »
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Wells Fargo Advisors (WFC.N) will launch a new share class of mutual funds next month as part of its plan to comply with the new U.S. Labor Department regulation that s... More »
U.S. bank Citi held on to top spot in the foreign exchange industry’s main annual ranking of traders by volume on Wednesday despite losing around 2 percent in market share, results showed. More »
The corporate logo of financial firm Morgan Stanley is pictured on the company’s world headquarters in New York, U.S. April 17, 2017. REUTERS/Shannon Stapleton Morgan Stanley, the biggest U.S. brokerage by head count, told brokers Tuesday that it is standing d... More »
John Burbank, founder & chief investment officer of Passport Capital, speaks at a panel discussion at the SALT conference in Las Vegas May 15, 2014. REUTERS/Rick Wilking Bayliss More »
The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong March 8, 2013. REUTERS/Bobby Yip Bank of America Corp’s Merrill Lynch will stop paying the big upfront bonuses that Wall Street brokerages have long used to lure ... More »
Bank of America Corp’s brokerage, Merrill Lynch, said on Thursday it will roll out a commissions-paying retirement account compatible with a new U.S. Labor Department regulation that raises the standards for client care. More »
Electronic trading houses Citadel Securities and XTX have joined top global banks in signing up to blockchain currency settlement venture Cobalt, they said on Thursday, in what could be one of the first large-scale financial market uses of the technology. More »
U.S. President Donald Trump speaks to reporters after his meeting with Russian Foreign Minister Sergey Lavrov at the White House in Washington, U.S., May 10, 2017. REUTERS/Kevin Lamarque Not even a week after the Trump administration and Congress rekindled opt... More »
Vlad Tenev, co-founder and co-CEO of investing app Robinhood, speaks during the TechCrunch Disrupt event in Brooklyn borough of New York, U.S., May 10, 2016. REUTERS/Brendan McDermid Commission-free trading startup Robinhood has raised $110 million in a round ... More »
U.S. medical equipment supplier Becton Dickinson and Co will acquire C R Bard Inc, in a $24 billion cash-and-stock deal, adding Bard’s devices to its portfolio in the high-growth sectors of oncology and surgery, both companies said on Sunday. More »
Commuters walk past the New York Stock Exchange, where a vote today to merge with all-electronic Archipelago Exchange is expected in New York, December 6, 2005. If approved by current seat owners of the NYSE and ArcaEx shareholders, the deal would expand the o... More »
FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid/File Photo BlackRock Inc (BLK.N), the world’s biggest ass... More »
Wealthfront Inc, the digital financial advice company, will begin letting some customers borrow against their investment accounts in its first foray into lending. More »
Bank of America’s (BAC.N) wealth business reported revenue climbed 3 percent to $4.6 billion in the first quarter this year from last year on higher client assets under management and fees, Bank of America Chief Financial Officer Paul Donofrio said Tuesday. More »
Gary Cohn, director of the National Economic Council, takes part in a strategic and policy CEO discussion with President Trump in the Eisenhower Executive Office Building in Washington. REUTERS/Joshua Roberts Bayliss More »
The state of Rhode Island hired a senior Goldman Sachs Group Inc executive as chief investment officer to oversee its $7.9 billion pension fund, the state’s Treasurer said in an email on Friday. More »
FILE PHOTO – People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City, May 20, 2015. REUTERS/Mike Segar/File Photo Big U.S. banks revealed more evidence of a slowdown in loan growth in their earnings reports on Thu... More »
The logo of cable and mobile telecoms company Altice Group is seen during a news conference in Paris, France, March 21, 2017. REUTERS/Philippe Wojazer Altice USA, the cable operator that Netherlands-based Altice NV (ATCA.AS) put together by acquiring Cablevisi... More »
FILE PHOTO: Gary Cohn walks through the lobby at Trump Tower in Manhattan, New York City, U.S., December 13, 2016. REUTERS/Andrew Kelly White House economic adviser Gary Cohn said in a private meeting with lawmakers that he supports a policy that could revamp ... More »
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Proxy adviser Glass Lewis on Tuesday recommended that Wells Fargo & Co shareholders vote against six directors at an upcoming annual meeting, in protest of improper sal... More »
The U.S. Financial Industry Regulatory Authority announced a new rule on Thursday that allows brokers to pause disbursements from client accounts if they suspect a client is suffering from dementia or being influenced by caregivers or scam artists. More »
Financial advisers across Wall Street’s biggest brokerages have fretted over their professional futures in recent years as their firms worked to develop “robo” services for millennial and tech-savvy clients. More »
FILE PHOTO: A commuter passes by the New York Stock Exchange (NYSE) in the financial district in New York City, U.S., February 7, 2017. REUTERS/Brendan McDermid/File Photo Institutional Shareholder Services Inc, the world’s top proxy advisory firm, is making a... More »
Pedestrians walk by the main entrance of the Buenos Aires Stock Exchange, Argentina, April 18, 2016. REUTERS/Marcos Brindicci – RTX2AHAB Latin American governments and companies could soon step up bond sales, seizing on an increased appetite for deals as a reg... More »
FILE PHOTO: The logo of Toshiba Corp. is seen at the company’s facility in Kawasaki, Japan February 13, 2017. REUTERS/Issei Kato/File Photo Westinghouse Electric Co’s financial distress sparked a feeding frenzy among Wall Street lenders keen to give the nuclea... More »
The logo of Morgan Stanley is seen at an office building in Zurich, Switzerland September 22, 2016. REUTERS/Arnd Wiegmann/File Photo Grupo BTG Pactual SA’s stock is undervalued based on its ability to outperform peer banks in Latin America, where investment-ba... More »
U.S. dollar bank notes are seen in a bank in Budapest August 8, 2011. REUTERS/Bernadett Szabo As doubts grow over whether the dollar will resume the rally that took it to 14-year highs against other major currencies early this year, at least one measure seems ... More »
A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo For the first time in more than a decade, Goldman Sachs Group Inc (GS.N) has managed to avoid any proxy battles with activist shareholders b... More »
A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo Goldman Sachs Group Inc (GS.N), known for advising the world’s richest and most powerful, is building a so-called robo-adviser geared to mas... More »
FILE PHOTO — March 11, 2016- Los Angeles, CA, USA- Los Angeles Clippers guard Chris Paul (3) moves the ball up court against New York Knicks during the second half at Staples Center. Gary A. Vasquez-USA TODAY Sports/File Photo Giving back to their communities ... More »
FILE PHOTO — March 11, 2016- Los Angeles, CA, USA- Los Angeles Clippers guard Chris Paul (3) moves the ball up court against New York Knicks during the second half at Staples Center. Gary A. Vasquez-USA TODAY Sports/File Photo Giving back to their communities ... More »
Lower Manhattan including the financial district is pictured from the Manhattan borough of New York, U.S. June 1, 2016. REUTERS/Carlo Allegri/File Photo After several years of restructuring and regulatory pressure, investment banks have reached a turning point... More »
FILE PHOTO: The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France on February 20, 2017. REUTERS/Pascal Rossignol/File Photo Only two years ago, an outage similar to the one that struck Amazon’s cloud services last month ... More »
U.S. President Donald Trump will nominate Goldman Sachs (GS.N) banker James Donovan as deputy Treasury secretary, the White House said on Tuesday, adding another alumnus of the Wall Street investment bank to his administration. More »
FILE PHOTO: A J.P. Morgan logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo JPMorgan Chase & Co has sent some wealth management customers letters this month notifying them that they could be moved to the firm’s self-direc... More »
FILE PHOTO – The logo of Morgan Stanley is seen at an office building in Zurich, Switzerland September 22, 2016. REUTERS/Arnd Wiegmann/File Photo Morgan Stanley is hiring hundreds of tech-savvy specialists at its wealth management branches to train advisers on... More »
The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore in this February 21, 2013 file photo. REUTERS/Edgar Su/File Photo The Monetary Authority of Singapore (MAS) issued a 10-year prohibition order on Monday against Tim ... More »
AIA Group Chief Executive and President Mark Tucker poses during a news conference on the company’s annual results in Hong Kong, China February 24, 2017. REUTERS/Bobby Yip HSBC Holdings Plc (HSBA.L), Europe’s biggest bank, tapped an outsider for its top job on... More »
A security guard walks in front of an image of the Federal Reserve in Washington, DC, U.S., March 16, 2016. REUTERS/Kevin Lamarque/File Photo Goldman Sachs economists said on Friday they stuck with their call that the Federal Reserve will increase interest rat... More »
U.S. job growth increased more than expected in February and wages rose steadily, which could give the Federal Reserve the green light to raise interest rates next week despite slowing economic growth. More »
