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LONDON (Reuters) -Investors increased their allocations to cash and reduced their overweight position in stocks in August, as expectations for global growth dropped to their lowest in eight months, a BofA survey of fund mangers published Tuesday showed. According to the survey, 31% of respondents said they were overweight in stocks in August, down from …

Investors reduced allocations to stocks, moved to cash in August, BofA survey shows Read More »

By Promit Mukherjee and Nikhil Sharma (Reuters) -Canada’s benchmark index inched up on Monday as calm returned after a week of turmoil, but rising tensions in the Middle East and upcoming data from the U.S. this week kept investors on edge. The S&P/TSX composite index closed up 95.01 points at 22,406.31, rising 0.43%. The increase …

Canada’s benchmark index TSX edges up as oil gains, local acquisitions Read More »

By Seher Dareen and Vallari Srivastava (Reuters) – U.S. electric utilities sounded bullish on demand from data centers powering the artificial intelligence boom after striking several supply deals during the second quarter, reinforcing market expectations of sales growth through the year. Top utilities, including American Electric Power and NextEra Energy, signed contracts in the recently …

US utilities poised to ride data center demand wave in second half Read More »

By Jonathan Stempel NEW YORK (Reuters) – The U.S. Securities and Exchange Commission on Monday sued the cryptocurrency company NovaTech and its married co-founders, saying they fraudulently raised over $650 million from more than 200,000 investors worldwide, including many Haitian-Americans. NovaTech and co-founders Cynthia and Eddy Petion allegedly promised investors their money would be safe, …

US SEC sues over alleged $650 million global crypto fraud Read More »

TORONTO (Reuters) – Royal Bank of Canada’s former CFO Nadine Ahn has filed a wrongful-termination lawsuit against the bank, and alleged that “gender-based stereotyping” was at play in her dismissal. In April, RBC, Canada’s biggest bank, said it had terminated Ahn after its investigation found she was in an undisclosed close personal relationship with another …

RBC’s former CFO sues Canadian bank for wrongful termination, citing gender stereotyping Read More »

By Andrea Shalal WASHINGTON (Reuters) – The Biden administration on Monday unveiled new rules and efforts targeting consumer annoyances ranging from hard-to-cancel subscriptions, cumbersome insurance forms, and not being able to get a live customer service agent on the phone. The “Time is Money” initiative is aimed at cracking down on endless hold times or …

Biden to tackle helpline wait times in pro-consumer push Read More »

LONDON (Reuters) – Standard Chartered has folded its industries coverage team into its dedicated mergers and acquisitions advisory team, eliminating more than 20 roles globally to reduce duplication, a source with direct knowledge of the matter told Reuters. The move, which began on Friday, doubles the mergers and advisory team to more than 100 bankers, …

StanChart folds industries team into M&A, cutting over 20 jobs, source says Read More »