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 …
Democrats may rein in big estates without reforming the estate tax
Drew Angerer | Getty Images News | Getty Images Democrats may scuttle tactics used by the rich to pass wealth to heirs with little to no tax, part of a broader plan to raise money for an expansion of the U.S. safety net. Specifically, the party is considering disallowing some complex trust-planning techniques used by …
Democrats may rein in big estates without reforming the estate taxRead 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 …
CAD Rebounds on Strong Job Data, USD Turning Weaker
Canadian Dollar rebound strongly in early US session after stronger than expected job data. Commodity currencies are also generally firm with European stocks and US futures, followed by Sterling. On the other hand, Yen, Swiss Franc and Dollar are turning softer, but Euro is not too far away. The question now is whether the risk …
CAD Rebounds on Strong Job Data, USD Turning WeakerRead More
Gold Is Sell On Rallies
Gold is making another technical sell pattern in the midst of the risk on. Gold has been the best market to trade in 2021. Simply, all trades have been technically aligned and I personally have made great profits on gold trades which can also be confirmed by myfxbook account. 1800-10 is the sell zone. If …
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 …
Euro Strengthens As Market Digests Recent ECB Action
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