By Lananh Nguyen and Jaiveer Shekhawat (Reuters) -Citigroup Inc hired Andy Sieg to lead its global wealth arm, the lender said on Thursday, from Bank of America Corp, where he led the Merrill Wealth Management unit. Sieg has “a track record of driving growth” and “deep experience in the U.S.,” where Citi aims to grow, …
Citigroup hires BofA Merrill’s head Andy Sieg to lead wealth unit Read More »
By Saqib Iqbal Ahmed (Reuters) -A nearly $15 billion JP Morgan fund is expected to reset its options positions on Friday, potentially adding to equity volatility at the end of a strong quarter for U.S. stocks. Analysts have in the past pointed to the JPMorgan Hedged Equity Fund’s quarterly reset roiling markets, and see it …
How a massive options trade by a JP Morgan fund can move markets Read More »
(Reuters) -Activist investor Carl Icahn and Illumina Inc had weeks-long private negotiations before he started a proxy fight to push the U.S. life sciences firm to unwind its 2021 buyout of Grail, a regulatory filing showed on Thursday. The billionaire proposed a negotiated settlement on March 8 that included two board seats for his nominees …
Icahn, Illumina privately discussed settlement before public fight – filing Read More »
By Douglas Gillison and Pete Schroeder (Reuters) – The White House on Thursday moved to reassure the nation’s community banks that they would not have to foot a $23 billion bill for replenishing the fund that insures deposits following the second- and third-largest bank failures in U.S. history. In unveiling new measures to strengthen mid-size …
Community banks should not feel deposit insurance pain, White House says Read More »
By Stella Qiu SYDNEY (Reuters) – A year-long slide in Australian home prices is showing signs of bottoming out far earlier than anyone thought possible, greatly lessening the risk of a jump in distressed sales and raising hopes for a soft landing in the economy. Defying predictions of a crash, prices in Australia’s eight capital …
Australian housing may have found a floor, defying crash predictions Read More »
By Marianna Parraga and Matt Spetalnick HOUSTON/WASHINGTON (Reuters) -Valero Energy Corp, the second-largest U.S. oil refiner, is seeking Washington’s permission to import Venezuelan crude, according to four people close to the matter, hoping for a repeat of the approval granted to Chevron Corp in November after a four-year ban. President Joe Biden’s administration has eased …
Exclusive-Refiner Valero seeks US approval to import Venezuelan oil -sources Read More »
WASHINGTON (Reuters) – The White House’s plan to strengthen the U.S. banking system announced on Thursday makes new demands on a small group of midsized banks. The plan asks regulators to demand banks with between $100 billion and $250 billion in assets increase liquidity and capital, and submit to extra stress tests, among other changes. …
New White House bank regulation plan impacts short list of banks Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks rose on Thursday as technology-related shares extended their recent strong run, while regional U.S. bank shares fell as the Biden administration proposed stronger measures to help reduce risk. The S&P 500 technology index was up 1.1% and gave the S&P 500 its biggest boost, while the …
Wall St gains with tech shares; regional banks fall Read More »
By Andrea Shalal and Pete Schroeder WASHINGTON (Reuters) -The Biden administration urged banking authorities to tighten regulation of mid-sized banks, which it said could be pushed through without support from a split Congress. Banks with between $100 billion and $250 billion in assets should hold more liquid assets, increase their capital, submit to regular stress …
White House pushes new rules for mid-sized banks without Congress Read More »
By Fergal Smith (Reuters) – Canada’s main stock index rose on Thursday to its highest closing level in three weeks as easing stress in the global banking supported a broad-based rally heading into the end of the first quarter of the year. The Toronto Stock Exchange’s S&P/TSX composite index ended up 103.34 points, or 0.5%, …
TSX ends higher for fifth day on broad-based gains Read More »
