(Reuters) -Wells Fargo & Co said on Monday that the U.S. Securities and Exchange Commission has begun investigating its hiring practices, after the Department of Justice had opened a related probe. In its quarterly report filed with the SEC, the fourth-largest U.S. bank said both agencies “have undertaken formal or informal inquiries or investigations regarding …
Wells Fargo says SEC is examining its hiring practices Read More »
(Clarifies wording in paragraph 6) By Summer Zhen HONG KONG (Reuters) – Bond fund managers with strategies focused on Asian high-yield issuers have switched to cash and other non-China assets after suffering huge losses in China’s corporate bond market. Once a sought-after investment that accounts for more than half of Asia’s high-yield corporate bond issuance, …
Asia bond funds dump China in favour of cash after high-yield rout Read More »
By Chris Taylor NEW YORK (Reuters) – Next time you are visiting the National Archives Museum in Washington, D.C., check out the 1297 copy of the Magna Carta, essentially the first written constitution in European history. It may have been drawn up under England’s King John, but these days it belongs to David M. Rubenstein. …
By Lucy Raitano LONDON (Reuters) -Investors took advantage of a wipeout in U.S. tech stocks this week to snap up equities, even though this sector is one of the most vulnerable as major central banks keep hiking rates, Bank of America Global Research said on Friday. Equity funds recorded their largest weekly inflow since March …
Investors pour cash into tech stocks despite mega-cap wipeout -BofA Read More »
By Ann Saphir (Reuters) – The Federal Reserve is seen slowing its aggressive rate-hike pace in December, with data published Thursday offering new evidence that the economic slowdown that the central bank is trying to engineer is getting underway. Fed Chair Jerome Powell and his 18 fellow central bankers are still expected to back a …
By Matt Tracy and Shankar Ramakrishnan WASHINGTON (Reuters) – A sell-off in the U.S junk bond market is presenting investors with a buying opportunity but some are holding back, worried that a looming recession could spark widespread credit defaults. Spreads on junk-rated bonds have widened some 184 basis points this year while yields – which …
Analysis-U.S. junk bond investors face tough choice as yields spike Read More »
By Hannah Lang, Doina Chiacu and Trevor Hunnicutt WASHINGTON (Reuters) -President Joe Biden pledged on Wednesday to crack down on surprise fees consumers are forced to pay on cable bills, hotel rooms and concert tickets, while U.S. financial regulators declared bank fees for bounced checks and overdrafts unfair. “These are junk fees,” President Joe Biden …
Biden targets hidden ‘junk fees’ from banks, cable TV, concert tickets Read More »
By Svea Herbst-Bayliss NEW YORK (Reuters) – Monro Inc on Wednesday said it plans to refresh its board of directors and will consider restructuring its equity shares after calls from an activist investor for governance reforms and the possible sale of the U.S. auto service company. Monro Chief Executive Officer Michael Broderick, who took the …
Monro considers reforms after pressure by activist firm Ides Capital Read More »
WASHINGTON (Reuters) – U.S. President Joe Biden said his administration is examining fees imposed on consumers in a range of sectors, including entertainment and travel, as regulators on Wednesday targeted overdraft and other banking fees that he said would save customers more than $1 billion. Biden, speaking to reporters at the White House, said other …
Biden administration looking at concert ticket, resort fees Read More »
LONDON (Reuters) – Investors increased their bets on the Bank of England raising its benchmark rate by a full percentage point on Nov. 3 after the government of British Prime Minister Rishi Sunak delayed an announcement of its tax and spending plans until mid-November. Interest rate futures put the chance of a 100 basis-point rate …
Investors increase their bets on a 100 basis-point BoE rate hike Read More »
