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A young girl pushes her scooter past the front of the New York Stock Exchange (NYSE) with a Snap Inc. logo hung on the front of it shortly before the company’s IPO in New York, U.S., March 2, 2017. REUTERS/Lucas Jackson One of two current members of the U.S. S... More »
Appliances and electronics retailer hhgregg Inc and its Gregg Appliances Inc unit filed for bankruptcy protection on Monday, as they continued to struggle with declining sales for about four years. More »
Snap cofounders Evan Spiegel (C) and Bobby Murphy ring the opening bell of the New York Stock Exchange with NYSE Group President Thomas Farley. REUTERS/Lucas Jackson Snap Inc’s (SNAP.N) shares ended up 44 percent on their first day of trading as investors floc... More »
The U.S. Labor Department has taken a first step toward possible derailment or dilution of its controversial rule on retirement advice as it begins to re-examine it at the directive of President Donald Trump, according to a notice made public on Wednesday. More »
A sign marks a Fidelity Investments office in Boston, Massachusetts, U.S. September 21, 2016. REUTERS/Brian Snyder/File Photo Fidelity Investments Inc and Charles Schwab Corp made moves in quick succession on Tuesday to slash trade commissions, accelerating th... More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake Wells Fargo & Co’s wealth management business (WFC.N) said on Tuesday it would launch its new robo-adviser Intuitive Investor later this year in a bid to dev... More »
Hong Kong-based brokerage CLSA will halve its U.S. headcount by shutting its equity research services, as declining payments prompt it to make an about-turn from its recent measures to expand the business in the world’s largest economy. More »
FILE PHOTO – The corporate logo of financial firm Morgan Stanley is pictured on the company’s world headquarters in New York, New York, U.S. on January 20, 2015. REUTERS/Mike Segar/File Photo Morgan Stanley gave some wealth management clients incorrect informa... More »
A Bank of America logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Warren Buffett said on Saturday he plans to stick with the shrewd bet that his Berkshire Hathaway Inc (BRKa.N) made on Bank of America Corp (BAC.N), but might event... More »
Michael Piwowar, Commissioner of the U.S. Secuirites and Exchange Commission, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2016. REUTERS/Lucy Nicholson The top U.S. securities regulator unveiled plans on Friday to... More »
A man wears U.S. dollar sign rings in a jewellery shop in Manhattan in New York City November 6, 2014. REUTERS/Mike Segar Web conferencing provider Premiere Global Services (PGi) is considering a return to the loan market to reprice its debt and even add a lit... More »
FILE PHOTO: An advertising board (L) showing a Chinese stone lion is pictured near an entrance to the headquarters (R) of China Securities Regulatory Commission (CSRC), in Beijing, China, September 7, 2015. REUTERS/Jason Lee/File Photo China’s securities regul... More »
Jeffrey Ubben, Founder & CEO at ValueAct Capital, speaks on the Reuters Newsmaker event ‘The Future of Shareholder Activism’ in Manhattan, New York, U.S., February 22, 2017. REUTERS/Andrew Kelly Jeffrey Ubben, the chief executive officer of activist investor V... More »
Traders work on the floor of the New York Stock Exchange, May 12, 2015. REUTERS/Brendan McDermid Bond trading revenue at the world’s top banks rose last year for the first time since 2012, thanks to increased activity after Britons’ voted to leave the European... More »
The offices of international finance companies are seen in the financial district of Canary Wharf in London, Britain, January 26, 2017. REUTERS/Eddie Keogh Commodities-related revenue at the 12 biggest investment banks fell by 7 percent last year, mainly due t... More »
FILE PHOTO – A portrait of the Snapchat logo in Ventura, California December 21, 2013. REUTERS/Eric Thayer/File Photo Snap Inc, owner of popular messaging app Snapchat, fended off investor skepticism on the second day of its IPO roadshow on Tuesday, betting on... More »
A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. REUTERS/Andrew Kelly Wall Street is pushing back against a proposed rule to force U.S. banks like Goldman Sachs Group Inc to h... More »
FILE PHOTO – Michael L. Corbat, president of the Citigroup, arrives at the Planalto Palace before a meeting with Brazil’s President Dilma Rousseff in Brasilia April 9, 2013. REUTERS/Ueslei Marcelino Citigroup Inc’s (C.N) board of directors cut Chief Executive ... More »
FILE PHOTO: Offices in the financial district of Canary Wharf in London, Britain, January 19, 2017. REUTERS/Kevin Coombs/File Photo Rock-bottom interest rates hurt more big European banks in 2016 than in the previous year, but the worst could soon be over with... More »
A U.S. appeals court said on Thursday it will reconsider an October ruling that the Consumer Financial Protection Bureau’s structure is unconstitutional, virtually guaranteeing the battle over an agency borne of the financial crisis will reach the Supreme Cour... More »
Financial services software developer OpenFin has raised $15 million in a funding round that included JPMorgan Chase & Co and the venture capital arms of high-speed trading firm DRW Trading Group and interdealer broker NEX Group Plc, the company said on Thursd... More »
FILE PHOTO: The Canary Wharf business district is seen reflected in windows at dusk in London, Britain December 11, 2016. REUTERS/Toby Melville/File Photo Market trading is booming at U.S. and European banks thanks to Donald Trump and Brexit, and yet the glory... More »
The AIG logo is seen at its building in New York’s financial district March 19, 2015. REUTERS/Brendan McDermid American International Group Inc (AIG.N), the largest commercial insurer in the United States and Canada, reported a bigger-than-expected quarterly l... More »
Business magnate George Soros arrives to speak at the Open Russia Club in London, Britain June 20, 2016. REUTERS/Luke MacGregor/File Photo Soros Fund Management, the firm that invests the personal fortune of billionaire investor and philanthropist George Soros... More »
Republicans lawmakers are starting to put in motion plans to destroy or defang the U.S. agency intended to protect individuals from financial fraud. More »
As century-old Wall Street brokerages have agonized over the fate of a major U.S. regulation on retirement advice, younger Silicon Valley counterparts have coolly shrugged their shoulders. More »
A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo Technology whizzes who helped Goldman Sachs (GS.N) eliminate hundreds of trading jobs over the past few years are venturing into the bank’s ... More »
A combination photo shows Trevon Gross (L) in New York on February 1, 2017, and Anthony Murgio (R) in a Pinellas County Sheriff’s Office booking photo that was released on August 4, 2015. The two men were arrested in Florida on August 4, 2015. REUTERS/File Pho... More »
A gas station attendant pumps fuel into a customer’s car at PetroChina’s petrol station in Beijing, China, March 21, 2016. REUTERS/Kim Kyung-Hoon/File Photo Oil prices were stable on Monday on signs that OPEC-led production cuts were reducing global overproduc... More »
Hedge fund manager Dan Loeb’s Third Point LLC took new equity stakes in Goldman Sachs Group Inc, Bank of America Corp, JPMorgan Chase & Co during the fourth quarter, according to regulatory filings on Friday, on a bet that interest rate hikes and operating lev... More »
A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo – RTSS9SM Two U.S. senators are seeking details from Goldman Sachs Group Inc’s (GS.N) chief executive on the extent to which the bank’s empl... More »
Abby Joseph Cohen, Senior Investment Strategist Goldman Sachs, attends the Economic Club of New York Leadership Excellence Award in New York April 21, 2015. REUTERS/Eduardo Munoz Abby Joseph Cohen, the Goldman Sachs Group Inc strategist whose prescient, upbeat... More »
European investors are piling into exchange-traded funds, favoring those that mimic active fund managers, in a market where traditional trading relationships between assets are breaking down. More »
Independent brokerage LPL Financial Holdings Inc posted a fourth-quarter profit that surged 56 percent as an increase in advisory assets helped soften the costs of an uncertain regulatory environment. More »
FILE PHOTO: An oil pump jack can be seen in Cisco, Texas, August 23, 2015. REUTERS/Mike Stone/File Photo Oil prices rose on Thursday, supported by an unexpected draw in U.S. gasoline inventories, although bloated crude supplies meant that fuel markets remain u... More »
A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo Goldman Sachs Investment Partners (GSIP), which opened in 2008 with one of the biggest launches in hedge fund history, is folding its London... More »
U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration Including funds that banks set aside to cover potential losses, known as capital buffers, in the annual stress tests that U.S. r... More »
FILE PHOTO – A sign is seen outside the E*Trade offices can be seen in New York November 12, 2007. REUTERS/Lucas Jackson Discount brokerage E*Trade does not plan to follow its competitor Charles Schwab’s price cuts, the online trading platform’s chief financia... More »
A resident pushes a stroller in the Clifton neighborhood of Staten Island in New York October 25, 2014. REUTERS/Darren Ornitz The Bank of Mom & Dad is busy these days. More »
Dubai is finalizing a $3 billion, seven-year syndicated loan needed to back the expansion of Al Maktoum International Airport and plans to sign the facility over the next few weeks, banking sources familiar with the situation said on Monday. More »
After signing, U.S. President Donald Trump holds up an executive order rolling back regulations from the 2010 Dodd-Frank law on Wall Street reform at the White House in Washington February 3, 2017. REUTERS/Kevin Lamarque U.S. President Donald Trump on Friday o... More »
Laboratory Corporation of America Holdings (LabCorp) is in talks to acquire contract researcher Pharmaceutical Product Development LLC (PPD) for more than $8 billion, including debt, people familiar with the matter said on Friday. More »
U.S. President Donald Trump signs an executive order rolling back regulations from the 2010 Dodd-Frank law on Wall Street reform at the White House in Washington February 3, 2017. REUTERS/Kevin Lamarque With a swipe of his pen, U.S. President Donald Trump on F... More »
A former Morgan Stanley wealth manager in New Jersey has been criminally charged with stealing about $5 million from clients, and then going on a spending spree including private jet service, luxury cars, and country club memberships. More »
U.S. President-elect Donald Trump sits with PayPal co-founder and Facebook board member Peter Thiel, Apple Inc CEO Tim Cook, Oracle CEO Safra Catz and Tesla Chief Executive Elon Musk during a meeting with technology leaders at Trump Tower in New York U.S., Dec... More »
FILE PHOTO: Rep. Mick Mulvaney (R-SC) testifies before a Senate Budget Committee confirmation hearing on his nomination of to be director of the Office of Management and Budget on Capitol Hill in Washington, U.S., January 24, 2017. REUTERS/Carlos Barria/File P... More »
The father of a Florida man who prosecutors said operated an illegal bitcoin exchange avoided prison on Friday after pleading guilty in a case that stemmed from an investigation into a cyber breach at JPMorgan Chase & Co. More »
Oil tanks seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. REUTERS/ Ali Jarekji/File Photo The first independent audit of Saudi Aramco’s [IPO-ARMO.SE] oil reserves has confirmed the state oil company’s own figures, sou... More »
A logo of BNP Paribas is seen outside its Tokyo headquarters, Japan, January 7, 2016. REUTERS/Yuya Shino/File Photo BNP Paribas has poached three senior bankers for its equity capital markets (ECM) and cash equities teams, and the French bank added that global... More »
A woman walks past a branch of Mitsubishi UFJ Financial Group’s bank of Tokyo-Mitsubishi UFJ (MUFG) in Tokyo, Japan, May 16, 2016. REUTERS/Thomas Peter/File Photo Mitsubishi UFJ Financial Group appointed Stuart Randell and Anders Maehre to the leveraged financ... More »
A computer screen showing stock graphs is reflected on glasses in this illustration photo taken in Bordeaux, France, March 30, 2016. REUTERS/Regis Duvignau With investment firms cutting costs and portfolio managers combating a barrage of information, financial... More »
FILE PHOTO: Gold granules at the Austrian Gold and Silver Separating Plant ‘Oegussa’ in Vienna April 16, 2013. REUTERS/Heinz-Peter Bader/File Photo Fears of inflexibility and rising costs are sapping enthusiasm for the London Metal Exchange’s new suite of gold... More »
Merger activity among independent wealth management firms in the United States hit an all-time high in 2016 as more of the industry’s aging workforce retired, the economy strengthened and more advisers were able to obtain financing for acquisitions, according ... More »
A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. REUTERS/Brendan McDermid/File Photo Goldman Sachs has rejected allegations by an Indonesian businessman who is seeking $1.1 billion in damages from the U.S. bank for m... More »
Matthew Ponsonby speaks during the Reuters Global Mergers and Acquisitions Summit in London April 4, 2011. REUTERS/Benjamin Beavan Barclays vice chairman of banking, Matthew Ponsonby will retire from the British bank at the end of January, according to a memo ... More »
FILE PHOTO – A man walks into the JP Morgan headquarters at Canary Wharf in London May 11, 2012. REUTERS/Dylan Martinez/File Photo Indonesia’s reform-minded finance minister seemed to invoke memories of the 1997-98 Asian financial crisis this week when explain... More »
Citadel Securities, the market-making arm of billionaire hedge-fund manager Ken Griffin, has agreed to pay $22.6 million to settle charges that it misled customers about the way it priced trades, the U.S. Securities and Exchange Commission said on Friday. More »
A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. REUTERS/Andrew Kelly Executives of big U.S. banks expressed optimism on Friday about the outlook for 2017 in their first publi... More »
The logo of Morgan Stanley is seen at an office building in Zurich, Switzerland September 22, 2016. REUTERS/Arnd Wiegmann/File Photo Morgan Stanley (MS.N) laid off a number of senior investment bankers last week and cut bonuses by roughly 15 percent because of... More »
An American Apparel store logo is pictured on a building along the Lincoln Road Mall in Miami Beach, Florida March 17, 2016. REUTERS/Carlo Allegri Canadian apparel maker Gildan Activewear Inc (GIL.TO) has won a bankruptcy auction for U.S. fashion retailer Amer... More »
Anthony Murgio arrives for a hearing at the Manhattan Federal Courthouse in New York, March 4, 2016. REUTERS/Brendan McDermid A Florida man pleaded guilty on Monday to charges that he conspired to operate an illegal bitcoin exchange, which prosecutors said was... More »
The Wall St. sign is seen outside the door to the New York Stock Exchange in New York’s financial district February 4, 2014. REUTERS/Brendan McDermid Social media firm Snap Inc may be the highest profile tech IPO planned for 2017, with the potential to raise b... More »
Arrangement of various world currencies including Chinese Yuan, US Dollar, Euro, British Pound, in this picture illustration taken January 25, 2011. REUTERS/Kacper Pempel/Illustration/File Photo Global equity raising fell by more than a quarter in 2016, data s... More »
A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany September 30, 2016. REUTERS/Kai Pfaffenbach/File Photo Deutsche Bank’s pursuit of success on Wall Street has come at a high price, a $7 billion plus penalty illustrating the... More »
A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo – RTX2UOJO Goldman Sachs Group Inc said its newly promoted co-chief operating officers and chief financial officer would each receive a $1.8... More »
People sit outside the New York Stock Exchange (NYSE) during the morning commute in New York City, U.S., September 15, 2016. REUTERS/Brendan McDermid – US leveraged lending guidelines could ease if a Wall Street-friendly Trump administration tells regulators t... More »
A sign marks a Fidelity Investments office in Boston, Massachusetts, U.S. September 21, 2016. REUTERS/Brian Snyder Fidelity Investments unintentionally boosted BlackRock Inc’s prospects as a robo adviser with a small investment in a start-up company that Black... More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake Wells Fargo & Co (WFC.N) reported another decline in monthly consumer account openings, indicating that the bank is having trouble rebuilding its reputation ... More »
U.S. tax accounting software company Avalara Inc has interviewed banks to help prepare for an initial public offering (IPO) that could come in 2017 and value the company at roughly $1 billion, people familiar with the matter said on Friday. More »
A woman shows her phone operating Ant Check, an Alibaba-linked platform, at a cafe in Beijing, China, April 11, 2016. REUTERS/Shirley Feng/File Photo Ma Yiqing, 24, is typical of China’s younger generation – he uses his credit card frequently and borrows from ... More »
A view of the exterior of the Nasdaq market site in the Manhattan borough of New York City, U.S., October 24, 2016. REUTERS/Shannon Stapleton Stock exchange operator Nasdaq (NDAQ.O) will replace Denmark’s main C20 CAP index with a new index of 25 companies to ... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo – RTX2TOT5 A private U.S. regulator launched a hotline on Friday to hear from ex-Wells Fargo & Co employees who were fired for all... More »
The Credit Suisse logo is seen at the headquarters in Milan, Italy, March 9, 2016. REUTERS/Stefano Rellandini/File Photo Credit Suisse on Friday said it would lower investors’ hurdle to redeeming two popular exchange-traded notes, used to bet on the price of o... More »
A logo is pictured on the laboratory building on the Lonza site in Visp, western Switzerland September 10, 2013. REUTERS/Denis Balibouse Swiss pharmaceutical manufacturer Lonza Group AG on Monday confirmed it is in advanced talks with private equity firm KKR &... More »
The Bank of Italy logo is seen at the company’s headquarters in Milan, Italy, January 19, 2016. REUTERS/Stefano Rellandini/File Photo Speculators convinced the euro zone faces fresh instability have zeroed in on Italy’s constitutional reform referendum on Sund... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo Wells Fargo & Co (WFC.N) said it will continue to offer individual retirement accounts that pay brokers commissions and will adjus... More »
Rhode Island-based Citizens Bank said Thursday it is partnering with SigFig, a leading robo-adviser, to help manage the portfolios of the bank’s 1.2 million middle-income retirement savers. More »
A man and power lines are reflected in a Telstra poster adorning a public telephone in Sydney, Australia, August 13, 2015. REUTERS/David Gray/File Photo The ability of Australian telecoms company Telstra Corporation (TLS.AX) to offset the fall in its tradition... More »
Banks involved in the blockchain consortium R3 CEV have expressed interest in investing $59 million in the company’s first funding round, less than half its overall target, a person close to the deal said on Friday. More »
Morning commuters pass by the New York Stock Exchange (NYSE) on a rainy morning in New York City, U.S., October 21, 2016. REUTERS/Brendan McDermid counsel, not lead plaintiff’s attorney) More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 22, 2016. REUTERS/Brendan McDermid After a number of false starts since the term was first coined five years ago, the idea of a ‘Great Rotation’ out of bonds into ... More »
Euro coins are seen in front of displayed flag and map of European Union in this picture illustration taken in Zenica, May 28 2015. REUTERS/Dado Ruvic The euro zone has withstood several crises since 2008 that have thrown the 19-nation bloc’s very existence in... More »
The Symantec booth is seen during the 2016 Black Hat cyber-security conference in Las Vegas, Nevada, U.S. August 3, 2016. REUTERS/David Becker/File Photo Symantec Corp (SYMC.O) said it would acquire U.S. identity theft protection services company LifeLock Inc ... More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 14, 2016. REUTERS/Brendan McDermid Two weeks before the U.S. presidential election, half of wealthy investors were so fearful of turmoil in the stock markets that ... More »
The corporate logo of financial firm Morgan Stanley is pictured on the company’s world headquarters in the Manhattan borough of New York City, New York, U.S. January 20, 2015. REUTERS/Mike Segar/File Photo Big global banks, including Morgan Stanley, JPMorgan C... More »
A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. REUTERS/Brendan McDermid/File Photo Libya’s $67 billion sovereign wealth fund will turn to the UK Court of Appeal, a source said on Friday, after a high court judge de... More »
Andrew Caspersen and his wife Christina Caspersen depart following his sentencing at the U.S. Federal Court in New York City, U.S., November 4, 2016. REUTERS/Brendan McDermid Former Wall Street executive Andrew Caspersen was sentenced on Friday to four years i... 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 has launched a new exchange traded fund that mimics the most popular stock bets made by hedge funds, the bank said o... More »
The MetLife building is seen in New York, March 8, 2010. REUTERS/Shannon Stapleton/File Photo The U.S. government and the country’s largest life insurer are set for a rematch in a U.S. appeals court on Monday over how federal regulators decide a company is “to... More »
An AT&T logo is seen at an AT&T store in New York City, October 23, 2016. REUTERS/Stephanie Keith When Time Warner Inc’s (TWX.N) Jeff Bewkes welcomed AT&T Inc’s (T.N) Randall Stephenson for lunch at Time Warner Center in New York in late August, their meeting ... More »
Bain, Apollo and Lone Star have been shortlisted in the sale of building materials maker Xella, a potential 2 billion euro ($2.18 billion) deal, according to several people close to the transaction. More »
Yoghurt by French foods group Danone is seen in this photo illustration shot in Strasbourg, April 15, 2015. REUTERS/Vincent Kessler/File Photo Dutch chemical technology firm Avantium will announce an initial public offering (IPO) this week to fund production o... More »
Tencent comany name is displayed at a news conference in Hong Kong, China March 17, 2016. REUTERS/Bobby Yip/File Photo Tencent Holdings Ltd said a consortium formed to buy game developer Supercell has raised $850 million by selling new shares to investors incl... More »
A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo A British court ruled on Friday in favor of Goldman Sachs in a $1.2 billion dispute with Libya’s $67 billion sovereign wealth fund over deri... More »
Companies including drywall and building materials manufacturer Continental Building Products are including exceptions in US leveraged loan credit agreements that could bypass auditors’ opinions and make it harder for banks to declare a default. More »
FILE PHOTO — A view of the Morgan Stanley London headquarters at Canary Wharf financial centre in London, Britain June 24, 2016. REUTERS/Russell Boyce/File Photo Banks will have to start moving staff if Britain loses access to the European single market post-B... More »
The Canary Wharf financial district is seen in east London November 12, 2014. REUTERS/Suzanne Plunkett The UK head of U.S. bank Citi (C.N) said on Tuesday that the main question facing the finance industry now is when to enact contingency planning after Britai... More »
U.S. Democratic presidential nominee Hillary Clinton speaks at a voter registration rally at Wayne State University in Detroit, Michigan, U.S. October 10, 2016. REUTERS/Lucy Nicholson A longtime political adviser to Hillary Clinton last year urged her presiden... More »
The sign outside the Wells Fargo & Co. bank in downtown Denver April 13, 2016. REUTERS/Rick Wilking Wells Fargo & Co said on Monday it was expanding its operating committee and forming a business group to streamline its online services. More »
Britain’s Prime Minister Theresa May gives her speech on the final day of the annual Conservative Party Conference in Birmingham, Britain, October 5, 2016. REUTERS/Toby Melville/File Photo Prime Minister Theresa May criticized Britain’s finance industry for fa... More »
