ZURICH (Reuters) – Swiss wealth and asset manager Pictet has named Edmund Buckley head of the Direct Private Equity division as the Geneva-based group expands its alternative investment business, it said on Friday. Buckley, who was previously a manager at private equity firm THI Investments, is expected to boost the business of direct investments in …
Pictet names Buckley, Klein to alternative investment roles Read More »
(Corrects 2022 wage cap to $147,000 instead of $142,800 in paragraph 8) By Mark Miller (Reuters) -Social Security has never failed to make its benefit payments since the mailing of monthly checks began in 1940, but most Americans these days are worried about the future of the program. Who can blame them? Social Security’s two …
It’s time for U.S. Congress to debate Social Security reform in the light of day Read More »
NEW YORK (Reuters) – Star stock picker Cathie Wood’s ARK Innovation fund dropped nearly 9% on Thursday as concerns about rising inflation and slowing growth sent the benchmark S&P 500 down nearly 3.6%. The declines left ARK Innovation with its fourth-worst performance in its history stretching back to 2014. The three greater declines all came …
ARK Innovation Fund drops nearly 9% during market selloff Read More »
(Reuters) -Major U.S. banks including JPMorgan Chase & Co, Wells Fargo Bank and Citibank have raised their prime rate to 4%, effective Thursday. The base lending rate was hiked by 50 basis points, the banks said in different statements on Wednesday. The decision comes after the U.S. Federal Reserve raised its overnight interest rate by …
Major U.S. banks raise prime rate after Fed move Read More »
(Reuters) – AMP Ltd said on Thursday its Australian wealth management business logged another quarter of cash outflows as it continued to lose investors amid market uncertainty due to the Russia-Ukraine war, with assets under management also taking a hit. Net outflows from the wealth management business were A$1.33 billion ($963.45 million) for the three …
Wealth manager AMP’s Australia unit posts net cash outflows on uncertainties Read More »
OSLO (Reuters) – Norway’s sovereign wealth fund is currently unable to sell its portfolio of Russian stocks as the market for such assets is not functioning and many firms are on global sanctions lists, the fund’s CEO, Nicolai Tangen, said on Tuesday. The fund owned Russian stocks worth some 27 billion Norwegian crowns ($2.86 billion) …
Norway wealth fund unable to sell Russian stocks now, CEO says Read More »
By Chris Taylor NEW YORK (Reuters) – When it comes to the status of women in the workplace, there are decades of talk and not enough action. The gender pay gap is still enormous, and CEOs are still overwhelmingly male, as are corporate boards. Stacey Vanek Smith says we should look to an unlikely source …
The Machiavellian way: How ‘The Prince’ can help women at work Read More »
By Mark Miller (Reuters) – The Great Retirement is morphing into the Great Return, with the U.S. employment report for March, released earlier this month, showing a jump back into the labor force among older workers. That reflects the plentiful number of available jobs – and reduced concerns about the health risks associated with COVID-19. …
Column-Returning to work but close to retirement? Adjust your plan Read More »
(Reuters) – Wall Street bank Goldman Sachs reported rival Morgan Stanley to Hong Kong’s financial regulator over a series of block trades, or large sales of shares, the Financial Times reported on Thursday, citing people familiar with the matter. Goldman alerted the territory’s Securities and Futures Commission three years ago as part of an “informal” …
Goldman Sachs flagged Morgan Stanley block trades to Hong Kong regulator – FT Read More »
By Svea Herbst-Bayliss (Reuters) -Billionaire investor William Ackman liquidated a $1.1 billion bet on Netflix on Wednesday, locking in a loss of more than $400 million as the streaming service’s stock plunged following news that it lost subscribers for the first time in a decade. Ackman’s hedge fund Pershing Square Capital Management made an abrupt …
Ackman gives up on Netflix, taking $400 million loss as shares tumble Read More »
