By Svea Herbst-Bayliss NEW YORK (Reuters) -Bath & Body Works named a veteran consumer products executive as a new director on Monday as the specialty retailer faces pressure from hedge fund Third Point LLC to cut costs and refresh its board. Lucy Brady, a senior executive at Conagra Brands, expands the board to 11 from…
(Reuters) – Finnish insurer Sampo on Friday reported a bigger-than-expected drop in fourth-quarter earnings citing challenging capital markets environment, sending its shares falling more than 5%. The group’s profit before tax fell 67% to 390 million euros ($418.43 million) in the quarter, missing analysts’ 553-million-euro estimate in a company-provided poll. Sampo also said it expected…
By Laura Matthews (Reuters) – Concerns that last year’s wild swings in stocks and bonds will resurface in 2023 are boosting the appeal of investments less dependent on upside in either asset class, such as managed futures and private markets. Soaring interest rates sparked a rare lockstep tumble in equity and fixed income last year,…
By Mark Miller (Reuters) – The old line that “you can’t take it with you” does not apply when it comes to your 401(k). When you change jobs or retire, you have three basic choices: leave your retirement account where it is, roll it over to a new employer or move it to a standalone…
By Chris Taylor NEW YORK (Reuters) – Sorry to break it to you, but your romantic partner may be sharing a secret relationship. With guess who? JPMorgan Chase. Or Citibank, or Wells Fargo. Whether it is a big purchase, a hidden debt or an unknown account, 39% of us have committed some form of “financial…
By Chris Taylor NEW YORK (Reuters) – Look at the waves of layoffs happening across America right now, and you are probably pondering something you have not had to think about for quite a while: Plan B. Everyone has one, a rough idea of what they will do if Plan A goes totally haywire. With…
By Chris Taylor NEW YORK (Reuters) – For generations, society has grappled with the question of whether money brings happiness. Now a new book has some answers – with the data to back it up. The easy answer, according to Robert Waldinger and Marc Schulz, authors of “The Good Life”: No, money will not buy…
By Nell Mackenzie and Carolina Mandl LONDON/NEW YORK (Reuters) -Hedge funds betting against stocks globally abandoned those trades last week at the fastest pace since 2015, surpassing the speed of their exodus from the meme stock frenzy two years ago, according to a Goldman Sachs research note. The latest short squeeze, implying that stock prices…
By Marc Jones LONDON (Reuters) – Cryptomarkets have not been killed off by last year’s turmoil, while the new wave of central bank digital currencies will face geopolitical limits, the Bank for International Settlements’ new innovation head has predicted. Dubbed the central bank to the world’s central bank, the BIS has long been critical of…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Activist investment firm Starboard Value LP has amassed a sizable stake in Rogers Corp and is seeking seats on the electronics materials company’s board in its push for changes, people familiar with the matter said on Friday. The board challenge comes after chemical company DuPont in November walked…
