Reuters US Money

By Nell Mackenzie LONDON (Reuters) – Trend following hedge funds that outperformed rivals in 2022 will likely underperform this year, according to investors surveyed by BNP Paribas in a report published this week. The global survey of 185 investors in December and January also showed the investor community was undecided on putting money in hedge …

Hedge funds that did best in 2022 could fare worst in 2023 – BNP Read More »

By Nate Raymond (Reuters) – In the first ruling written by President Joe Biden’s appointee Justice Ketanji Brown Jackson, the U.S. Supreme Court on Tuesday sided with 30 states that argued that Delaware had no right keep hundreds of millions of dollars in uncashed MoneyGram checks for itself. The ruling authored by Jackson, who was …

In Justice Jackson’s first ruling, US Supreme Court decides MoneyGram case Read More »

By Pete Schroeder WASHINGTON (Reuters) -U.S. banks reported a 5.8% decline in profits in 2022 as firms spent more on noninterest items and provision expenses against future losses, the Federal Deposit Insurance Corporation reported Tuesday. Bank profits dropped 4.6% in the last quarter of 2022, but overall profits remain above average profits seen by the …

Higher expenses weigh down U.S. bank profits in 2022 – FDIC Read More »

NEW YORK (Reuters) – Goldman Sachs Group Inc’s Chief Executive David Solomon and top executives will give investors an update on their strategy on Tuesday. Here are biographies of key leaders who will speak at the second investor day in the Wall Street firm’s 154-year history. The speaker biographies are based on company documents, statements …

Goldman Sachs executives to rally investors in New York Read More »

By Joice Alves LONDON (Reuters) – Europe’s banks, which enjoyed a stellar fourth-quarter that yielded a surge in earnings growth to 15-year highs, are still looking cheap and could have more room to rally. Economic data hasn’t been as bad as many had feared. The euro zone is expected to stagnate rather than contract, while …

Analysis-Boom in European bank earnings hints at a rally with legs Read More »

By Lananh Nguyen NEW YORK (Reuters) – Bank of America Corp (BofA) amassed $1.2 billion in expenses for litigation and regulatory investigations last year including fines and settlements, according to a company filing on Wednesday. The cost is a major jump from $164 million recorded by the second-largest U.S. lender in 2021 and $823 million …

Bank of America racked up $1.2 billion in penalties, settlements in 2022 Read More »

By Chiara Elisei LONDON (Reuters) – Private credit and infrastructure investments across emerging and developing markets surged to record levels in 2022 as borrowers looked for alternative financing options amid rising interest rates, according to a report published on Wednesday. The Global Private Capital Association (GPCA) said private credit investment saw the largest rise, growing …

Private credit investments surged 89% in 2022 – report Read More »

By Chris Taylor NEW YORK (Reuters) – Eytan Morgenstern is facing a very expensive dilemma. The 36-year-old public relations professional has an opportunity to check something off his life ‘bucket list’: Seeing his favorite band, Metallica, play live. One problem: They are not coming to his city of Jerusalem, so he is considering going to …

How to afford the big price tag of your lifetime ‘bucket list’ Read More »

By Jonathan Stempel (Reuters) – Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Wednesday said China remains a top opportunity for investors despite geopolitical risks. Munger also doubled down on his recent Wall Street Journal editorial calling for the U.S. government to follow China and ban cryptocurrency, saying “people …

Charlie Munger downplays risk of Taiwan invasion, says crypto fans are ‘idiots’ Read More »