By Makailah Gause NEW YORK (Reuters) -Women in the U.S. have saved just a third of the amount that men have set aside for retirement, setting up a potential crisis among female retirees, according to a Prudential Financial survey released on Monday. Men had saved a median $157,000 for retirement, while women had only put …
Women in US have just 1/3 of men’s retirement savings, Prudential report says Read More »
By Oliver Hirt and Noele Illien ZURICH (Reuters) – As Credit Suisse fades into history following its takeover by UBS last year, global banks are expanding in Switzerland to take advantage of companies’ desire to spread their business. France’s BNP Paribas, Deutsche Bank and U.S. lenders Citi and Bank of America are among those increasing …
Foreign banks target Switzerland after UBS takeover of Credit Suisse Read More »
By Pete Schroeder and Michelle Price WASHINGTON (Reuters) – The U.S. Federal Reserve is due to release the results of its annual bank health checks on Wednesday at 4:30 p.m. ET (2030 GMT). Under the “stress test” exercise, the Fed tests big banks’ balance sheets against a hypothetical scenario of a severe economic downturn, the …
Explainer-What are the Fed’s bank ‘stress tests’ and what’s new this year? Read More »
By Lewis Krauskopf NEW YORK (Reuters) – The huge rally in Nvidia Corp’s shares has investors weighing whether to cash in, hold on for more gains or chase a stock that has tripled during the past year. Nvidia this week briefly became the largest U.S. company by market value on the back of a more …
By Nupur Anand NEW YORK (Reuters) -JPMorgan Chase is seeing signs of an improving economy in China that will bolster the bank’s business in the country after a sluggish period, its CEO of asset and wealth management Mary Erdoes said. U.S. companies are assessing their prospects in China as its economy recovers unevenly and relations …
JPMorgan asset and wealth head sees China’s economic outlook improving Read More »
By Summer Zhen HONG KONG (Reuters) – Asian hedge funds led global gains in May and the first five months, as bullish sentiment towards regional equities and winning positions in China boosted performance. Asia-focused long/short funds across all strategies rose 2.8% on average in May and 7.5% during the January-May period, showing they outperformed funds …
Asia hedge funds outpace global peers on China bets, UBS says Read More »
By Andrew Chung WASHINGTON (Reuters) -The U.S. Supreme Court preserved a tax on Americans who have invested in certain foreign corporations as constitutionally sound, ruling on Thursday against a challenge to it at a time when some Democratic lawmakers are seeking to impose a wealth tax on the super rich. The justices, in a 7-2 …
US Supreme Court won’t upend tax on Americans’ foreign earnings Read More »
By Chris Taylor NEW YORK (Reuters) – Beth Martin may be a designer in Charleston, South Carolina, but, in her head, she is in the south of France, touring a 1700s chateau. Real estate site Zillow is where Martin tends to take a break, procrastinate and wonder what she would buy if money were no …
Are you dreamscrolling? Three ways to avoid overspending Read More »
(Reuters) -Billionaire Warren Buffett’s Berkshire Hathaway Inc acquired another 2.95 million shares in Occidental Petroleum, a regulatory filing showed, bringing his stake in the U.S. oil producer’s common stock to nearly 29%. Berkshire disclosed in a U.S. Securities and Exchange Commission filing on Monday that it paid about $176 million in three separate purchases of …
Berkshire Hathaway boosts stake in Occidental Petroleum to nearly 29% Read More »
By Nell Mackenzie and Anousha Sakoui LONDON (Reuters) – Hedge fund managers making bets on mergers and acquisitions outperformed those deploying other strategies with a return of 7.7% in the first five months of 2024, Goldman Sachs said in a note to clients, as deal-making rebounded. Although Goldman did not offer a year-earlier figure for …
M&A-focused hedge funds lead the pack in May, Goldman Sachs says Read More »
