By Naomi Rovnick LONDON (Reuters) -Stock market investors are calling time on the idea that the Federal Reserve, and other major central banks, have their back. Hopes for interest rate cuts by year-end have evaporated, given resilient data and sticky inflation, suggesting central banks will instead be inclined to keep borrowing costs around their highest…
By Chibuike Oguh (Reuters) – Private equity firms that have for years capitalized on the regulatory woes of banks by becoming lenders to risky leveraged buyouts are doing less business just as higher interest rates have made that practice more lucrative. Buyout firms with direct lending businesses, such as Blue Owl Capital Inc, Blackstone Inc…
By Mehnaz Yasmin (Reuters) – The reward for holding U.S. stocks over Treasury bonds has not been this unattractive since 2004, possibly setting the stage for the sought-after 60/40 portfolio diversification to make a comeback after one of its worst years on record. A 60/40 portfolio, which typically has 60% of its holdings in stocks…
By Svea Herbst-Bayliss (Reuters) -Activist investor Elliott Management Corp has nominated a slate of directors to the board of cloud-based software provider Salesforce Inc, a source familiar with the matter said on Wednesday. The source declined to name Elliott’s director candidates or say how many there were. Elliott said it has been in substantive dialogue…
By Nell Mackenzie LONDON (Reuters) – Trend following hedge funds that outperformed rivals in 2022 will likely underperform this year, according to investors surveyed by BNP Paribas in a report published this week. The global survey of 185 investors in December and January also showed the investor community was undecided on putting money in hedge…
By Summer Zhen HONG KONG (Reuters) – A set of bumper earnings reports from the likes of Baidu Inc and other Chinese internet giants isn’t impressing hedge funds and other investors who have cut exposure to the stocks and seem to be waiting for more good news. For the now, investors remain wary of a…
By Nate Raymond (Reuters) – In the first ruling written by President Joe Biden’s appointee Justice Ketanji Brown Jackson, the U.S. Supreme Court on Tuesday sided with 30 states that argued that Delaware had no right keep hundreds of millions of dollars in uncashed MoneyGram checks for itself. The ruling authored by Jackson, who was…
By Pete Schroeder WASHINGTON (Reuters) -U.S. banks reported a 5.8% decline in profits in 2022 as firms spent more on noninterest items and provision expenses against future losses, the Federal Deposit Insurance Corporation reported Tuesday. Bank profits dropped 4.6% in the last quarter of 2022, but overall profits remain above average profits seen by the…
NEW YORK (Reuters) – Goldman Sachs Group Inc’s Chief Executive David Solomon and top executives will give investors an update on their strategy on Tuesday. Here are biographies of key leaders who will speak at the second investor day in the Wall Street firm’s 154-year history. The speaker biographies are based on company documents, statements…
By Pete Schroeder and Hannah Lang WASHINGTON (Reuters) -Top U.S. banking regulators issued a fresh warning to banks to be on guard for any liquidity risks from cryptocurrency-related clients, cautioning some of their deposits could prove volatile. In a joint statement issued Thursday, the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the…
