(Reuters) -Shares of companies tied to former U.S. President Donald Trump gained in early trading on Friday, drawing interest from retail investors after the ex-president was indicted in a historic first. Trump, the frontrunner to be Republican nominee in 2024, was indicted by a Manhattan grand jury after an investigation into hush money paid to…
By Saqib Iqbal Ahmed (Reuters) -A nearly $15 billion JP Morgan fund is expected to reset its options positions on Friday, potentially adding to equity volatility at the end of a strong quarter for U.S. stocks. Analysts have in the past pointed to the JPMorgan Hedged Equity Fund’s quarterly reset roiling markets, and see it…
By Tommy Wilkes LONDON (Reuters) – BlackRock’s liability-driven investment business is urging some smaller UK pension fund clients to stop splitting assets across multiple managers, as it tries to cut the complexity and risks of a strategy that imploded last year. Asset managers worry new rules to make LDI investing more robust could render the…
By Chris Taylor NEW YORK (Reuters) – Patti Black remembers it like it was yesterday: The conversation no adult child ever wants to have. The financial planner from Birmingham, Alabama, was worried that her elderly father Mack was becoming a danger behind the wheel, thanks to his growing memory problems. So when she and her…
By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – Bank of America Corp’s digital personal finance tool, Life Plan, has attracted more than $55 billion in new money since its launch in late 2020, as customers use technology to set financial goals. Life Plan, which has more than 10 million users, enables customers to…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Bullish bitcoin has been a surprise winner of the banking blowout. Yet investors aiming to amp up their bets face an ominous obstacle: a lack of liquidity that could trigger wild price swings. The price of the No.1 cryptocurrency has jumped 40% to around $27,700 since…
By Jamie McGeever ORLANDO, Florida (Reuters) -The most extraordinary outcome of the March banking shock would be if the problem dissipated quickly. Many people hope the crisis of confidence infecting global banking this month can be repelled almost as quickly as it appeared. After all, regulators and policymakers are faster and more comprehensive in their…
(Reuters) – Bank of America Corp is redeploying employees in wealth management and lending to other roles within the company, a source familiar with the matter said on Friday, as higher interest rates continue to weigh on the businesses. Less than 200 employees are being moved to product specialist positions within the company’s global operations…
By Manya Saini (Reuters) – Shares of Twitter co-founder Jack Dorsey’s Block Inc fell 3% in afternoon trading on Friday, a day after the payments firm’s Cash App business became the latest target of U.S. short seller Hindenburg Research. In a report, Hindenburg alleged that Block overstated its user numbers and understated its customer acquisition…
By Howard Schneider, Yoruk Bahceli and Akriti Sharma (Reuters) -The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs after the recent collapse of two U.S. banks. Fed Chair Jerome Powell sought to reassure investors about…
