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May 3, 2018

Reuters Money | Fund says Wells Fargo unit worsened 'vol-mageddon' losses: court filing -May 3, 2018


Reuters Money

 

Fund says Wells Fargo unit worsened 'vol-mageddon' losses: court filing

(Reuters) - A Chicago fund manager that suffered catastrophic losses in a market plunge earlier this year has blamed the actions of its broker, a Wells Fargo & Co unit, according to court documents filed on Wednesday.

Fund managers talk up short-selling ideas at New York conference

NEW YORK (Reuters) - Hedge fund managers will take center stage at a conference in New York on Thursday to call out companies they are wagering against.

Credit Suisse says David Lim to rejoin bank in Asia

ZURICH (Reuters) - Credit Suisse has rehired Asian private banker David Lim to become vice chairman of private banking Southeast Asia, the Swiss bank said on Thursday.

Cash conundrum has investors clamoring for capital ideas

LONDON (Reuters) - Splashing corporate cash may be in vogue, with bumper share buybacks and record takeovers, but some investors are demanding firms spend more on improving assets they already own.

At Milken, Wall Street touts itself as force for good

BEVERLY HILLS, Calif. (Reuters) - The titans of finance who flock to the annual Milken Institute Global Conference each spring say they believe their quest for profits can also make the world a better place.

U.S. tech, banks are big winners from lower taxes in first quarter

SAN FRANCISCO (Reuters) - U.S. technology heavyweights like Apple, Amazon and Intel along with Wall Street's biggest banks look like the early winners from Republicans' corporate tax cuts, boosting their bottom lines by more than $11 billion so far, a Reuters analysis of first-quarter earnings showed.

The myth of outliving your retirement savings

CHICAGO - When Doug Anderson retired as an electrician at the end of 2016, he worried would run out of money. So he put himself on a miserly spending plan.

Highlights: CFTC's Giancarlo at Milken calls bitcoin craze 'generational'

Highlights from this week’s Milken Institute Global Conference in Beverly Hills.

U.S. stock pickers beat benchmarks amid volatility

NEW YORK (Reuters) - The volatility that stopped the bull market in U.S. stocks in its tracks after hitting record highs in January is rewarding stock-picking fund managers.

Australia's largest bank forced to reveal it lost 20 million accounts

SYDNEY (Reuters) - The Commonwealth Bank of Australia has been forced to reveal it lost the records of almost 20 million accounts and decided not to inform its customers, another blow to an institution already reeling from multiple scandals.

U.S. investment house backs changes at Australia's scandal-hit AMP: Fairfax

SYDNEY (Reuters) - The largest shareholder in Australia's AMP Ltd, U.S. investment house Harris Associates, supports the ouster of top executives after damaging revelations of misconduct at the wealth manager, Fairfax Media reported on Thursday.