NEW YORK (Reuters) – A former top executive at proxy solicitor Kingsdale Advisors on Monday said he launched a new firm amid growing demand for advice on engaging with shareholders as corporate agitators push for more changes at companies. Michael Fein, who headed Canadian firm Kingsdale’s U.S. operations as president, U.S., until the start of…
By Chris Taylor NEW YORK (Reuters) – There are a lot of guilty pleasures out there, but here is one common to plenty of movers and shakers on Wall Street: Watching “Succession.” The fourth season of the popular HBO series premieres on March 26, tracking the dysfunctional Roy family as they continue to gobble up…
By David French NEW YORK (Reuters) – Some U.S. regional banks’ efforts to raise capital and allay fears about their health are running up against concerns from potential buyers and investors about looming losses in their assets, five sources with knowledge of the discussions said. First Republic Bank and PacWest Bancorp are among the banks…
(Reuters) – Pacific Western Bank, a unit of PacWest Bankcorp, said on Friday it had witnessed ‘elevated’ withdrawals following the collapses of Silicon Valley Bank and Signature Bank, but deposit movements had stabilized since Monday. The Los Angeles-based bank gave no details on the sum of the withdrawals but said they were mainly from its…
(The opinions expressed here are those of the author, a columnist for Reuters.) By Mark Miller (Reuters) – Reforming Social Security may sound like an issue of interest mainly to older Americans. But any changes the U.S. Congress might make to address the looming shortfalls of the program will actually have a far larger impact…
By Noele Illien, John Revill and Tom Sims (Reuters) – Swiss regulators pledged a liquidity lifeline to Credit Suisse in an unprecedented move by a central bank after the flagship Swiss lender’s shares tumbled as much as 30% on Wednesday. In a joint statement, the Swiss financial regulator FINMA and the nation’s central bank sought…
By Hannah Lang (Reuters) – The U.S. consumer finance watchdog launched an inquiry on Wednesday to examine companies that track and collect personal data, requesting public feedback about the business models and practices data brokers use. The U.S. Consumer Financial Protection Bureau’s request for information marks the latest move from the regulator to explore how…
By Chris Taylor NEW YORK (Reuters) – Jean Elliott has adopted a number of senior dogs over the years, the most recent being Auggie, a 12-year-old Pekingese relinquished at a shelter. When tests revealed Auggie’s cancer, Elliott found herself facing a $5,000 bill she could not cover. The charity Lizzy’s Fund stepped in to help,…
(Reuters) – Short sellers may have raked in $2.29 billion in profit in the past three sessions, as they took advantage of a selloff in regional bank shares following the collapse of SVB Financial Group and Signature Bank, S3 Partners said. The S&P 500 regional banks index is down about 18% since Friday when the…
By Chris Taylor NEW YORK (Reuters) – When financial planner Larry Pon started reading about the SECURE 2.0 Act that overhauls retirement saving, he was shocked at the provision about college funds. “Hey, this applies to me!” the certified public accountant from Redwood Shores, California, said. The new legislation lets savers roll over unused funds…
