Reuters US Money Archives - Page 61 of 101

Brazil to allow credit fintechs to initiate payment transactions

25 Nov 2022 26 Nov 2022

BRASILIA (Reuters) -Brazil’s National Monetary Council on Friday decided to allow credit fintechs to initiate payment transactions, the central bank said, a move that will in practice clear them to provide payment services to consumers and business establishments. To operate as payment initiators, fintechs currently need to open another company specifically for this purpose. With …

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Muted Black Friday for U.S. retail stocks as holiday shopping kicks off

25 Nov 2022 25 Nov 2022

By David Randall NEW YORK (Reuters) -U.S. retail stocks held steady on Friday as investors watched holiday spending to gauge consumer confidence at a time when inflation and rising interest rates are weighing heavily on Main Street. Consumer discretionary stocks, measured by the S&P 500 Consumer Discretionary sector which benefits from spending on retail, restaurants …

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Neuberger Berman gets Chinese regulatory nod to conduct mutual fund business

25 Nov 2022 25 Nov 2022

BEIJING (Reuters) -U.S. asset manager Neuberger Berman’s Chinese unit said on Friday it had been granted a license by the Chinese securities regulator to conduct mutual fund business. The announcement came days after Canada’s Manulife Financial Corp received regulatory nod to take full control of its Chinese mutual fund venture, adding to signs that Beijing …

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Japan’s top venture capital firm yields to activist for massive buybacks

25 Nov 2022 25 Nov 2022

By Makiko Yamazaki TOKYO (Reuters) – Japan’s top venture capital firm JAFCO Group Co Ltd said on Friday it would buy back shares worth 42 billion yen ($301 million) through a tender offer, yielding to demands from a group of shareholders backed by a prominent activist investor. The tender offer, worth about a quarter of …

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Stocks typically rally in December, investors have some caution this year

25 Nov 2022 25 Nov 2022

By David Randall NEW YORK (Reuters) – Investors hoping for the year-end to bring stock market gains after a punishing year have history on their side as U.S. equities traditionally rally during the month of December, but many remain skeptical of forecasting a rise. The S&P 500 has gained an average of 1.6% during December, …

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Billionaire investor Ackman bets Hong Kong dollar peg can break

24 Nov 2022 24 Nov 2022

By Tom Westbrook SINGAPORE (Reuters) – Billionaire investor Bill Ackman said he’s betting the Hong Kong dollar will fall and that its peg to the U.S. dollar can break, the latest big money manager to take a public short bet as U.S. rate hikes turn the blowtorch on Hong Kong’s currency system. “We have a …

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Berkshire Hathaway says Warren Buffett donates shares to family charities

24 Nov 2022 24 Nov 2022

(Reuters) – Berkshire Hathaway Inc said Warren Buffett has donated more of his fortune to four family charities, without disclosing whether the billionaire chairman made a new donation to the Bill & Melinda Gates Foundation. According to a regulatory filing, Buffett on Wednesday donated another 2.4 million of the conglomerate’s Class B shares, worth about …

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FTX was run as ‘personal fiefdom,’ faces hacks, missing assets, attorneys say

23 Nov 2022 23 Nov 2022

By Dietrich Knauth, Tom Hals and Tom Wilson NEW YORK/LONDON (Reuters) – FTX was run as a “personal fiefdom” of former CEO Sam Bankman-Fried, attorneys for the collapsed crypto exchange said in its first bankruptcy hearing as they detailed ongoing challenges such as hacks and substantial missing assets. In the highest-profile crypto blowup to date, …

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Analysis-Investors warm to European corporate bonds after a brutal year

23 Nov 2022 23 Nov 2022

By Harry Robertson LONDON (Reuters) – Investors are moving back into the European corporate bond market after one of the most brutal years in history, lured by juicy yields and hopes that central banks may soon let up on their aggressive interest rate hikes. Funds focused on investment grade euro-denominated corporate debt have seen sizeable …

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‘Boomerang CEOs’ don’t always work out; Disney hopes this one bucks trend

22 Nov 2022 22 Nov 2022

By David Randall NEW YORK (Reuters) -Can Walt Disney Co bank on another hit sequel? That appears to be the hope behind the company’s surprise decision to bring back former chief executive Bob Iger to replace Bob Chapek. The decision was largely cheered by Wall Street, with Disney’s stock gaining more than 6% on Monday …

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