By David Randall NEW YORK (Reuters) – Cathie Wood’s ARK Innovation Fund is closing in on the best monthly performance in its history as it rides a rebound in many of the high-growth stocks that took a beating last year. The $7.3 billion ARK Innovation fund is up slightly more than 25% for the month…
By David Randall NEW YORK (Reuters) – Cathie Wood’s ARK Innovation Fund is closing in on the best monthly performance in its history as it rides a rebound in many of the high-growth stocks that took a beating last year. The $7.3 billion ARK Innovation fund is up slightly more than 25% for the month…
NEW YORK (Reuters) -Goldman Sachs Group Inc. slashed compensation for its Chief Executive Officer David Solomon by 29% to $25 million for 2022, the bank said in a filing Friday. Solomon’s pay comprises a $2 million base salary, $6.9 million cash bonus and $16.1 million in restricted stock. He was paid $35 million for 2021….
By Svea Herbst-Bayliss (Reuters) – Salesforce Inc on Friday named three new board directors, including the chief of hedge fund ValueAct Capital, amid pressure from activist investors for better cost control and a management shakeup at the cloud-based software firm. The company appointed the chief executive of hedge fund ValueAct Capital, Mason Morfit, Mastercard finance…
By Huw Jones LONDON (Reuters) – The European Central Bank (ECB) on Friday rejected calls from Europe’s banks to ease capital rules to boost lending and put them on an equal footing with U.S. rivals. The ECB was responding to a report from the European Banking Federation and consultants Oliver Wyman which said that while…
MILAN (Reuters) – Italian fashion group Prada said on Friday it appointed former Luxottica chief Andrea Guerra as its new chief executive officer, taking the place of Patrizio Bertelli and Miuccia Prada as planned. The group announced in December that Guerra would take the helm of the group, easing a transition to the next generation…
LONDON (Reuters) – H&M said on Friday soaring costs had slashed its profits, the latest fast-fashion retailer to feel the pinch as consumers cut back, while LVMH and Salvatore Ferragamo revealed the damage to luxury sales caused by China’s COVID-19 policies. Shares in H&M, the world’s No. 2 fashion retailer, fell as much as 6%…
By Peter Hobson LONDON (Reuters) -An era of breathtaking palladium rallies is likely to be ending, analysts said, as rising supply and stagnant demand erode prices of the metal used to neutralise vehicle exhaust emissions. Palladium, once the cheapest major precious metal, rocketed from less than $500 an ounce in 2016 to above $3,400 last…
By Shadia Nasralla LONDON (Reuters) -Oil prices rose for a second session on Friday, buoyed by stronger than expected U.S. economic growth, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand. Brent futures gained $1.15, or 1.3%, to $88.62 a barrel by 0930 GMT. U.S. crude also rose by 1.3%,…
By Diana Mandia (Reuters) – Signify, the world’s largest lighting maker, on Friday gave a more upbeat forecast for operating profitability for 2023, on the back of an improving situation in China. Signify, the former lighting arm of Philips, had earlier this month cut its full-year forecast for 2022 for both profit margin and sales…
