Wirecard shares jump 7% on a $1 billion investment from SoftBank
SoftBank will invest 900 million euros ($1 billion) into German fintech firm Wirecard, as part of a strategic partnership on digital payments. Wirecard said Wednesday that it will raise the capital by issuing convertible bonds with a maturity of five...
Noted banking analyst Mike Mayo warns State Street shareholders executive pay is too high
Widely regarded banking analyst Mike Mayo of Wells Fargo is calling out top executives at State Street. In a research note issued after State Street’s earnings were released Tuesday morning, Mayo writes “STT needs to improve pay-for-performance and management accountability,...
Some international banks are finally seeing their China investments pay off
As China cracks open the door further to its massive financial market, a handful of foreign firms are pulling ahead of the pack. UBS, Invesco and J.P. Morgan topped Shanghai-based Z-Ben Advisors’ annual rankings released Monday for the 25 best...
Health-care stocks could rebound after their worst week of the year
Health-care stocks fell sharply last week, notching their worst weekly performance of the year, but a rebound may be at hand. The S&P 500 health-care sector fell 4.4% last week, its worst weekly decline since late December. The move ended...
Herman Cain withdraws from consideration for Fed board, Trump says
President Donald Trump announced Monday that Herman Cain, a former pizza executive and 2012 presidential candidate, had withdrawn himself from consideration for a seat on the Federal Reserve Board. “My friend Herman Cain, a truly wonderful man, has asked me...
Trump advisor Hassett expects economy to defy earlier doomsday predictions with 3% growth
Stronger economic data recently signals a continuation of the 3% GDP growth rate, Kevin Hassett, an economic advisor to President Donald Trump, said Monday on CNBC. “The first quarter is usually a little bit low. I think there’s almost more...
Elizabeth Warren wants to use her wealth tax to wipe out Americans’ college debt and pay for tuition
Democratic presidential candidate Elizabeth Warren has identified something else to finance with her proposed wealth tax: wiping out student debt and tuition at public colleges. The Massachusetts senator, who has raced ahead of her 2020 rivals with detailed plans to...
Tesla investigating apparent explosion of parked car in Shanghai
Tesla said Monday it immediately sent a team to investigate an apparent explosion of one of its cars that occurred in Shanghai on Sunday evening local time. There are no known casualties at this time, the electric car company said...
BlackRock’s Larry Fink says there are no signs of global recession in the next 12 months
There are no signs that the global economy is sliding toward a recession in the next 12 months, BlackRock’s Chief Executive Larry Fink said in remarks published on Saturday. In an interview with German business daily Handelsblatt, Fink warned, however,...
A former Abu Dhabi investing official thinks ethics are going to play a bigger role in market decisions
Investors will soon apply environmental, social and governance standards to global governments as the role of ethics grows in the investing world, according to Paul O’Brien, the former deputy CIO of the Abu Dhabi Investment Authority, which manages more than...
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