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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 »
BOAO/BEIJING, China (Reuters) – Chinese President Xi Jinping on Tuesday promised to open the country’s economy further and lower import tariffs on products including cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United Sta... More »
BEIJING (Reuters) – China’s banking regulator said on Monday it will broaden tools for commercial banks to replenish their capital to boost their ability to support economic growth. The China Banking Regulatory Commission (CBRC) is amending rules for commercia... More »
BEIJING (Reuters) – China’s financial regulators on Friday circulated new rules to local governments targeting a rampantly growing online micro-lending sector, part of a campaign to rein in its rapidly developing financial sector. A top-level multi-ministry bo... More »
BEIJING (Reuters) – The value of assets held by China’s banking sector rose 10.0 percent to 241.58 trillion yuan ($36.61 trillion) as of end-October compared with a year earlier, the China Banking Regulatory Commission (CBRC) said on Monday. Liabilities rose 1... More »
BEIJING (Reuters) – China’s banking regulator said on Friday that it has issued draft guidelines for commercial banks to better manage their interest rate risks, as China pushes forward with its interest rate liberalization reform. New rules have details on ba... More »
China has launched probes into consumer loans that are being misused for home purchases, warning they cannot be used to "fuel property bubbles", a senior banking official said on Friday. More »
The wealth of U.S. households rose to $96.2 trillion in the second quarter of this year as U.S. stock prices hit record highs and home values continued to climb, a report by the Federal Reserve showed on Thursday. 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 »
Citigroup Inc named Peadar MacCanna and Murat Demirel as trade co-heads for its treasury and trade solutions (TTS) business in Europe, Middle East and Africa (EMEA). 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 »
Swiss money manager GAM Holding AG named Adrian Gosden investment director. More »
RPMI Railpen, the British investment manager for the Railways Pension Scheme, named Jocelyn Brown senior investment manager of the company's sustainable ownership team. More »
Financial technology firm Calastone Ltd, which operates a fund transaction network, named Stephen Mohan as chief operating officer. More »
Software startup Slack Technologies Inc said it raised $250 million from SoftBank Group Corp (9984.T) and other investors in its latest funding round, boosting the company's valuation to $5.1 billion. More »
While U.S. corporate pensions regained some swagger after Wall Street’s record run this summer, they are still far from their heyday before the 2007-2009 credit crunch when they appeared to be in great shape to meet retirement obligations. More »
China's largest bitcoin exchanges said on Monday they were still awaiting clarification from the government following more media reports that Beijing was planning to ban trading of virtual currencies on domestic exchanges. 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 »
Netherlands-based Robeco Institutional Asset Management B.V. said it appointed Maureen Beshar as head of its United States business, effective immediately. More »
British investment management firm Tilney Group has appointed Tyrone Samsonroy and Ben Gibson as financial planners at its London office. More »
Rathbone Brothers, the wealth manager that this month ended its pursuit of rival Smith & Williamson, said its share price fall on Friday had coincided with anonymous allegations made in an online discussion forum. More »
Longtime municipal finance maven Marilyn Cohen unloaded several million dollars worth of Houston-area utility bonds on Tuesday even though she did not see a high risk to the debt - because a few of her clients were getting nervous. 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 »
China Unicom's $11.7 billion ownership reform plan does not violate rules, the nation's securities regulator said, helping shares in the telecom group's units surge as they resumed trade on Monday after speculation that the deal was under scrutiny. More »
A money laundering probe at Commonwealth Bank of Australia (CBA.AX) is the latest in a slew of scandals denting the reputation of Australian banks as simple, reliable lenders at the forefront in the battle against financial crime. More »
Bayliss and Michael Flaherty More »
Top Tesla Inc (TSLA.O) investors Fidelity Investments and T. Rowe Price cut their holdings in the second quarter and indicated they were taking profits from the electric car maker stock, which is up 65 percent this year. 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 »
Ride-services company Uber is facing a divided board of directors and angry shareholders after investor Benchmark Capital filed a lawsuit against the company's ousted chief executive, Travis Kalanick, dealing another blow to the firm as it struggles to recover... More »
Toshiba Corp may gain a partial endorsement from its auditor for its annual financial results after disagreements over accounting for the much of the year, Japanese media reported - a step that would lessen, but not remove, the risk of a delisting. More »
Hedge fund manager David Einhorn posted gains in July which helped shrink his firm’s year to date losses to 0.2 percent, a person who has seen the performance update said on Monday. 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 »
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 »
David Einhorn, president of Greenlight Capital speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. Greenlight Capital Inc, a hedge fund run by David Einhorn, was forced to pay back more than $400 million in clients withdrawals at midye... More »
Building maintenance and janitorial services provider ABM Industries Inc said it would buy privately held rival GCA Services Group for about $1.25 billion in cash and stock to enhance its presence in the education and commercial markets. 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 »
The Sauber Formula One team appointed Frederic Vasseur as their new boss on Wednesday, with the former Renault team principal set to join after the weekend’s British Grand Prix at Silverstone. 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: 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 »
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 »
A Kitkat chocolate bar is pictured in the supermarket of Nestle headquarters in Vevey, Switzerland, February 16, 2017. REUTERS/Pierre Albouy Activist investor Daniel Loeb’s Third Point LLC on Sunday unveiled a stake of more than 1 percent in Switzerland’s Nest... More »
The MSCI logo is seen in this June 20, 2017 illustration photo. REUTERS/Thomas White/Illustration MSCI’s decision to add Chinese shares to a key benchmark is a major milestone, but investors say it will be a long and rocky road ahead before the might of the wo... 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 »
Regulatory risk and compliance firm Exiger named Christopher McCavitt as managing director in the firm’s global investigations practice. More »
Asset manager Natixis Global Asset Management named Oliver Bilal head of international sales and marketing responsible for Europe, Asia, Latin America and the Middle East. More »
Real estate investment manager LaSalle Investment Management appointed Brad Gries as head of U.S. acquisitions, effective Aug. 18. More »
FILE PHOTO: The flags of the U.S. and Puerto Rico fly outside the Capitol building in San Juan, Puerto Rico May 4, 2017. REUTERS/ Alvin Baez The economically struggling U.S. island territory of Puerto Rico voted overwhelmingly on Sunday in favor of becoming th... More »
Investors in U.S.-based funds poured $1.4 billion into mutual funds and exchange-traded funds that invest in U.S. Treasuries in the week ended June 7, marking the biggest inflows since late January, data from Thomson Reuters’ Lipper service showed on Thursday.... More »
A pair of elderly couples view the ocean and waves along the beach in La Jolla, California March 8, 2012. REUTERS/Mike Blake Friday is the day, folks. More »
Ken Griffin, Founder and Chief Executive Officer of Citadel, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. REUTERS/Lucy Nicholson Ken Griffin, founder and chief executive of hedge fund firm Citadel LLC, s... More »
A former State Street Corp executive has agreed to plead guilty in connection with a scheme to defraud six clients through secret commissions on billions of dollars of trades, according to court papers filed on Tuesday. More »
FILE PHOTO: David Carroll, senior executive vice president at Wells Fargo speaks during the Charlotte Chamber’s Economic Outlook Conference in Charlotte, North Carolina December 17, 2012. REUTERS/Chris Keane Longtime Wells Fargo & Co (WFC.N) executive David Ca... 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 »
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 »
A sticker reading ”Bitcoin accepted here” is displayed at the entrance of the Stadthaus town hall in Zug, Switzerland, August 30, 2016. REUTERS/Arnd Wiegmann Digital currency bitcoin hit a fresh record high on Wednesday, surging above $2,400, as demand for cry... 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 »
Students of investing will need to start cramming for a new subject: computer science. More »
The U.S. Labor Department will implement its fiduciary rule on June 9 with no further delays, U.S. Labor Secretary Alexander Acosta said on Tuesday. 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 »
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. REUTERS/Lucy Nicholson/File Photo Hedge funds and money managers cut bullish bets on U.S. crude for the third straight week, as the oil market remained volatile over concerns about r... 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 »
Prudential Financial Inc shareholders on Tuesday approved the company’s compensation for executives and sided with directors in rejecting a proposal that would require an independent board chairman. More »
Keith Meister, Managing Partner and Chief Investment Officer of Corvex Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. REUTERS/Brendan McDermid Bayliss More »
Jay Clayton is sworn in to testify at a Senate Banking, Housing and Urban Affairs Committee hearing on his nomination of to be chairman of the Securities and Exchange Commission (SEC) on Capitol Hill in Washington, U.S. March 23, 2017. REUTERS/Jonathan Ernst W... 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 »
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 17, 2017. REUTERS/Brendan McDermid “Is this market a bubble?” and “Is my kid a genius?” are two questions which are asked far more often, and with less profit, than they... 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 »
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 »
Larry Fink, Chief Executive Officer of BlackRock, takes part in the Yahoo Finance All Markets Summit in New York, U.S., February 8, 2017. REUTERS/Lucas Jackson BlackRock Inc (BLK.N), the world’s largest asset manager, cut total compensation for Chairman and Ch... More »
Drug company Innoviva Inc said on Thursday it would undertake a review of its costs, including executive compensation following pressure from activist investor Sarissa Capital Management LP. More »
Students of the University of Puerto Rico protest as a meeting of the Financial Oversight and Management Board for Puerto Rico is taking place at the Convention Center in San Juan, Puerto Rico March 31, 2017. Picture taken March 31, 2017. REUTERS/Alvin Baez Ba... 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 »
U.S. President Donald Trump speaks during a joint news conference with Jordan’s King Abdullah (not pictured) in the Rose Garden after their meeting at the White House in Washington, U.S., April 5, 2017. REUTERS/Yuri Gripas U.S. President Donald Trump said on W... More »
FILE PHOTO – 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 Large financial institutions across the worl... More »
FILE PHOTO: Leon G. Cooperman, CEO of Omega Advisors, Inc., speaks on a panel at the annual Skybridge Alternatives Conference (SALT) in Las Vegas May 7, 2015. REUTERS/Rick Wilking/File Photo The billionaire hedge fund manager Leon Cooperman has asked a federal... More »
File photo: Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. REUTERS/Brendan McDermid There is no risk of a high-yield junk bond “meltdown” because the risk of a rec... More »
File photo: Berkshire Hathaway chairman Warren Buffett drinks a can of Cherry Coke at the Berkshire Hathaway annual meeting in Omaha May 1, 2010. REUTERS/Rick Wilking Coca-Cola Co is putting the likeness of Warren Buffett on Cherry Coke cans in China, hoping t... 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 »
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 »
89th Academy Awards – Oscars Awards Show – Hollywood, California, U.S. – 26/02/17 – Martha Ruiz (R, in red) and Brian Cullinan (upper R) of PricewaterhouseCoopers confer on stage after the Best Picture was mistakenly awarded to ”La La Land” instead of ”Moonlig... More »
Switzerland-based ShapeShift, a digital currency exchange, said on Wednesday it has raised $10.4 million in capital from both U.S. and international venture capital investors to fund future expansion. More »
A Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. REUTERS/Benoit Tessier/File Photo The U.S. Securities and Exchange Commission on Tuesday denied... 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 »
People walk past a major branch of HSBC at the financial Central district in Hong Kong, China February 21, 2017. REUTERS/Bobby Yip HSBC (HSBA.L) plans to add as many as 1,000 new employees to its Chinese retail banking and wealth management arm this year, the ... 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 »
Stone Milliner, one of Europe’s best-performing hedge funds that bets on macroeconomic events, lost 2.1 percent in the first two months of 2017, its worst start to a year, an investor letter seen by Reuters showed. More »
FILE PHOTO: Leon G. Cooperman, CEO of Omega Advisors, Inc., speaks on a panel at the annual Skybridge Alternatives Conference (SALT) in Las Vegas May 7, 2015. REUTERS/Rick Wilking/File Photo A federal judge on Monday rejected billionaire hedge fund manager Leo... 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 »
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Wells Fargo & Co’s board of directors awarded Chief Executive Timothy Sloan $12.8 million for his work last year, a 17 percent increase, despite scrapping executive bon... More »
