By Noor Zainab Hussain, Manya Saini and Saeed Azhar (Reuters) -Wells Fargo raised its annual forecast for net interest income (NII) after its profit surged 57% in the second quarter, sending its shares modestly higher. NII climbed 29% to $13.16 billion as the bank brought in more interest payments after the Federal Reserve increased borrowing …
Wells Fargo hikes outlook for interest income after profit surges 57% Read More »
By Tatiana Bautzer and Mehnaz Yasmin (Reuters) -Citigroup beat analysts’ estimates for second-quarter profit on Friday as higher interest payments from borrowers partly countered a blow to its Wall Street businesses from a slump in trading. The bank’s net income tumbled 36% to $2.92 billion, or $1.33 per share, in the three months to June …
Citigroup profit drops 36% on trading slump, rising expenses Read More »
By Carolina Mandl and Nell Mackenzie NEW YORK/LONDON (Reuters) – Many macro hedge funds that bet on global economic trends are ending the first half of 2023 with losses, but uncertainty around how different central banks will handle monetary policy could provide trading opportunities for the rest of the year. After a surprise crisis of …
Analysis-Macro hedge funds down at half-year point, pin recovery hopes on central banks Read More »
By David Randall NEW YORK(Reuters) – Individual investors have given a cold shoulder to Cathie Wood’s ARK Innovation Fund during their searing run this year, but some market watchers believe that may change if risk appetite keeps improving. The $8 billion fund, which outperformed all U.S. equity funds during the pandemic rally of 2020 but …
Retail investors slow to buy into ARK Innovation Fund’s blistering rally Read More »
By Nupur Anand NEW YORK (Reuters) – JPMorgan Chase & Co named Teresa Heitsenrether its chief data and analytics officer, leading the adoption of artificial intelligence across the largest U.S. bank, according to memos seen by Reuters Wednesday. Tim Fitzgerald will succeed Heitsenrether as global head of securities services, according to another memo. The appointments, …
JPMorgan names new data chief, head of securities services Read More »
By Chris Taylor NEW YORK (Reuters) – You might assume that with U.S. interest rates at new highs, Americans are getting terrific returns on savings. You assume wrong. In fact, while the Federal Reserve raised the Fed funds target rate to 5-5.25%, the average yield for savings accounts is still a miniscule 0.25%, according to …
By Svea Herbst-Bayliss NEW YORK (Reuters) – Proxy advisory firm Institutional Investor Services urged Alkermes shareholders to elect one of three director candidates proposed by activist hedge fund Sarissa Capital, arguing more outside pressure on management is needed right now. ISS said Sarah Schlesinger, a physician with experience serving on public company boards, should be …
ISS recommends one of Sarissa’s three nominees for Alkermes board Read More »
By Saeed Azhar NEW YORK (Reuters) -The head of healthcare investing at Goldman Sachs Asset Management, Jo Natauri, will leave the company at the end of the year to pursue other opportunities in the sector. “We’re entering a pretty attractive period for healthcare private investing, which I think could be pretty interesting to explore,” Natauri …
Goldman Sachs Asset Management head of healthcare investing to leave Read More »
By Chris Taylor NEW YORK (Reuters) -No matter how successful you may be – even as a founder, president, or CEO – none of us start out that way. We absorb life lessons from the people around us, very often our parents. In honor of Father’s Day, Reuters asked a few C-Suite leaders about a …
By Lucy Raitano LONDON (Reuters) – Investors are turning their attention back to European small and mid-cap stocks as low valuations spark long-term interest even as the immediate economic outlook remains gloomy. Europe’s smaller companies have seen relative valuations sink as concerns about an economic slowdown have favoured defensives over cyclicals, while banking turmoil stoked …
European equity investors hunt for big returns in small places Read More »
