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Day: September 10, 2021

Bank of America announces new CFO, technology and legal heads in sweeping management overhaul

Bank of America CEO Brian Moynihan announced the most sweeping management overhaul of his 12-year tenure atop the giant financial institution. In a memo distributed to employees on Friday, Moynihan named a new chief financial officer, technology head, general counsel and chief administrative officer. The firm’s management team added five new members, he said. “These …

Bank of America announces new CFO, technology and legal heads in sweeping management overhaulRead More

60-year veteran of Wall Street Art Cashin reflects on 9/11 and what it took to rebuild

A day before the 20th anniversary of 9/11, veteran trader Art Cashin reflected Friday on the impact of the terrorist attacks on Wall Street, the country and him personally. Cashin, who has been an NYSE member since 1964, was in lower Manhattan on the morning of Sept. 11, 2001. He remained in the stock exchange …

60-year veteran of Wall Street Art Cashin reflects on 9/11 and what it took to rebuildRead More

Canadian Employment Change in Line as Data Continues to Show Improvement

Canada’s employment change for the month of August came in roughly as expected: +90,200 vs +100,000 expected. The breakdown between full-time jobs and part-time jobs had a nice distribution, with three-fourths of the jobs going to full-time positions and one-fourth to part-time positions. The unemployment rate fell to 7.1% from 7.5%, vs 7.3% expected. In …

Canadian Employment Change in Line as Data Continues to Show ImprovementRead More

British fintechs are jumping into the booming buy now, pay later market

A Mastercard debit card from U.K. digital bank Monzo. Monzo LONDON — Monzo and Revolut, two of Britain’s best-known financial technology firms, are planning to enter the booming “buy now, pay later” industry. Buy now, pay later, or BNPL, plans are an increasingly popular method of payment that lets users spread the cost of their …

British fintechs are jumping into the booming buy now, pay later marketRead More

Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year ago

Prices that producers get for final demand goods and services surged in August at their highest annual rate since at least 2010, the Labor Department reported Friday. The producer price index rose 0.7% for the month, above the 0.6% Dow Jones estimate, though below the 1% increase in July. On a year-over-year basis, the gauge …

Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year agoRead More

AUD/USD Outlook: Aussie Regains Traction But Fresh Bulls Face Strong Headwinds From Falling Thick

The Australian dollar regained traction on Friday and bounced to three-day high, confirming initial reversal signal., after Thursday’s Doji candle signaled that three-day pullback from new highest in nearly two months (0.7478) lost traction. Fresh advance was underpinned by growing optimism on Biden-Xi call as two presidents discussed avoiding conflict that lifted risk-sensitive Aussie. Bulls …

AUD/USD Outlook: Aussie Regains Traction But Fresh Bulls Face Strong Headwinds From Falling ThickRead More

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