Chinese stock addition to indexes will ‘change the face’ of emerging markets investing on Thursday
The stocks of some of China’s biggest companies are set to join a key global index by the close Thursday, giving ordinary U.S. investors greater access to mainland China. More than $1.9 trillion in assets is benchmarked to MSCI’s Emerging...
Fed’s Quarles says regulators looking closely at ways to change bank rules
Randal Quarles, the Federal Reserve’s vice chairman for bank supervision, said Thursday that the proposal to loosen restrictions on bank trading activities is just the beginning of efforts to roll back the crisis-era regulation that overhauled Wall Street. “We have...
Morgan Stanley says we’re in a bear market but investors just don’t realize it yet
Morgan Stanley’s chief U.S. equity strategist believes the stock market is in the midst of a cyclical bear market that could last through the end of next year. “I think we’re in a rolling bear market. Every sector has gone...
Canada announces retaliatory tariffs on steel and aluminum
Canada will retaliate against new U.S. tariffs by imposing its own trade barriers on U.S. steel, aluminum and other products, Canadian Foreign Minister Chrystia Freeland said Thursday. Freeland said Canada plans to slap dollar-for-dollar tariffs on the U.S. The Nafta...
Goldman Sachs president says bank is ‘ahead on every metric’ in its $5 billion revenue growth plan
Goldman Sachs President David Solomon said the bank is making progress on its plan to increase revenue by $5 billion over three years. “At this point in time, we are on track or ahead on every metric that we look...
‘We shot the economy in our foot’ — Larry Summers on Trump steel and aluminum tariffs
Economist Larry Summers, an ardent critic of Donald Trump, calls the president’s decision to impose steel and aluminum tariffs on the European Union, Canada and Mexico “ludicrous.” “We shot the economy in our foot,” the former Clinton Treasury secretary and...
A blockchain start-up just raised $4 billion, without a live product
A Cayman Islands start-up has raised $4 billion as of Thursday, eclipsing the world’s biggest initial public offerings on stock exchanges this year. But its flagship product is not even live yet. Block.one is funding its blockchain platform called eos.ios...
Goldman VP charged with insider trading, bank puts him on leave
A Goldman Sachs banker has been charged with insider trading. A seven-count criminal complaint unsealed Thursday charged Woojae “Steve” Jung with trading with an unnamed co-conspirator on material nonpublic information he accessed while working at an investment bank with offices...
More young people must choose between paying for college and buying a home
Millennials increasingly face a difficult decision: pay off student loans or buy a home. That’s because doing both is increasingly impossible. Thanks to soaring college costs starting in the early 2000s, millennials, more than any other generation, were forced to...
‘Caution is going to be the word here,’ says former super bull Jeremy Siegel
Wharton School finance professor Jeremy Siegel appears to be wandering from the bull camp. Siegel, who helped lead 2017’s rally cry, told CNBC’s “Trading Nation” that he isn’t blaming Italy’s political turmoil, the latest headline to rock the markets, for...
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