Fed chief Powell: We’re still assessing ‘efficiency’ of banking reforms
Banking regulation has gotten stricter and more transparent in the days since the financial crisis, though more adjustments are likely ahead, Federal Reserve Chairman Jerome Powell said Friday. The central bank chief cited stress testing as one particular area where...
South Africa’s ailing state-owned firms set to invest billions in dramatic reform program
South Africa’s President Cyril Ramaphosa has announced that some of the country’s largest public companies will return billions to the economy, potentially reviving industries that are renowned for their financial troubles. In a major speech this week, the country’s president...
Your first trade for Friday, May 25
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Lennar. Steve Grasso was a buyer of Alibaba. Karen Finerman was a buyer of Foot Locker. Dan Nathan was a buyer of...
US durable goods orders drop 1.7% in April, but core capital goods orders rose as shipments rebounded
New orders for key U.S.-made capital goods increased more than expected in April and shipments rebounded, suggesting business spending on equipment was picking up after slowing down at the end of the first quarter. The Commerce Department said on Friday...
Foot Locker shares are jumping 16% after a blowout earnings report
Shares of shoe retailer Foot Locker surged Friday after the company reported earnings well ahead of Wall Street expectations. The stock rallied more than 16 after the New York-based company reported adjusted earnings per share at $1.45 for the first...
US Commerce Secretary Wilbur Ross to visit China for trade talks in early June
U.S. Commerce Secretary Wilbur Ross will visit China early next month for another round of talks amid ongoing trade frictions between the world’s two largest economies. Ross will visit China from June 2 to June 4, the official Xinhua news...
Wall Street banks had best quarter in years. They are firing traders anyway
Global investment banks reaped the most first-quarter revenue in three years, but that didn’t stop the industry from firing traders as a years-long contraction continues, according to a report. The world’s 12 biggest banks generated $43.9 billion in revenue from...
Wall Street banks had their best money-making quarter in years. They are firing traders anyway
Global investment banks reaped the most first-quarter revenue in three years, but that didn’t stop the industry from firing traders as a years-long contraction continues, according to a report. The world’s 12 biggest banks generated $43.9 billion in revenue from...
Sanctioned tycoon Deripaska resigns as director of his firm Rusal
Russian metals tycoon Oleg Deripaska stepped down as a director of his aluminum firm Rusal as part of a choreographed series of steps which he hopes will persuade the U.S. government to rescind sanctions that have crippled his businesses. Deripaska...
Steve Cohen’s Point72 is bullish on Asia — and they like these sectors
Steve Cohen’s Point72 is aggressively expanding in Asia. The firm, which has more than 1,250 employees globally and $12 billion in assets under management, recently opened a larger office in Hong Kong, which can accommodate more than 160 employees —...
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