Reuters US Money

By Svea Herbst-Bayliss and Carolina Mandl NEW YORK (Reuters) – U.S. hedge funds that focus broadly on technology investments are bracing for heavy losses this year as gloomier economic data sparked a fresh selloff this week, shrinking hopes of clawing back any significant ground in coming months. For fund managers, including those gathered at one …

U.S. tech-focused hedge funds brace for heavy losses amid market slide Read More »

By Echo Wang NEW YORK (Reuters) -AIG Inc’s life insurance and retirement division Corebridge Financial Inc raised $1.68 billion on Wednesday in the biggest initial public offering (IPO) so far this year, braving market volatility and ending a seven-month lull in major listings. AIG said it sold 80 million Corebridge shares at $21 per share, …

AIG unit Corebridge raises $1.68 billion in year’s largest IPO Read More »

(Reuters) – Morgan Stanley has seen moderation in loan growth and a lower mortgage demand due to rising interest rates, co-President Andrew Saperstein said in a conference on Tuesday. Decades-high inflation has left most policy makers worried, forcing them to aggressively raise benchmark interest rates and curb spending. The Federal Reserve is expected to tighten …

Morgan Stanley says rise in interest rates hurts mortgage demand Read More »

By Saeed Azhar and Lananh Nguyen NEW YORK (Reuters) – JPMorgan Chase & Co will maintain caution on its staffing levels despite the recent downturn in investment banking, its president said on Tuesday. “You need to very careful when you have a bit of a downturn to start cutting bankers here and there because you …

JPMorgan says will be careful about banker cuts amid investment banking downturn Read More »

ZURICH (Reuters) -UBS is seeing increased caution among its clients as worries about the slowing global economy, rising inflation and energy prices hit investor confidence, Chief Financial Officer Sarah Youngwood said on Tuesday. “The clients… are cautious, obviously, given what is going on in the world. That is translating into less transactions and less recurring …

UBS CFO sees increased client caution as global economy slows Read More »

(Reuters) – Gen Z is struggling to save and meet its financial goals in a world gripped with decades-high inflation and challenging economic conditions, a Bank of America survey showed on Tuesday. More than one-third of Gen Z consumers, or those aged between 18 and 25, that were surveyed by the bank’s personal finance education …

Gen Z struggles to save as inflation refuses to stop trending Read More »

ZURICH (Reuters) – Credit Suisse’s Swiss unit has become more efficient and growth focused in recent years and will thus be hit less by restructuring and cost savings than other parts of the bank, its head said in a media interview published on Tuesday. “The Swiss bank is healthy and profitable. At the same time, …

Credit Suisse exec: Swiss bank not main focus for cost savings Read More »

NEW YORK (Reuters) – Bank of America Corp expects a “big bump” in the income it earns from rising interest rates, its chief executive officer told investors at a conference on Monday. “We’re going to get a big bump in NII,” Brian Moynihan said, referring to net interest income, a closely watched measure of how …

Bank of America CEO predicts income boost from higher rates Read More »