UBS posts 40% first-quarter net profit rise as transaction levels jump
FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann ZURICH (Reuters)…
Exclusive: Investors to challenge Neiman Marcus bankruptcy loan, push for sale – sources
(Reuters) – An investor group that comprises investment firm Mudrick Capital Management LP and Daniel Loeb’s hedge fund Third Point…
Warren Buffett calls coronavirus outbreak ‘scary stuff,’ but says he won’t be selling stocks
(Reuters) – Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc (BRKa.N), on Monday called the coronavirus outbreak “scary stuff”…
Exclusive: Hedge fund Third Point targets British insurer Prudential – sources
FILE PHOTO: A man walks past a Prudential sign outside offices in the City of London March 27, 2013. REUTERS/Luke…
Buffett calls coronavirus outbreak ‘scary,’ but says he won’t be selling stocks
(Reuters) – Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc (BRKa.N), on Monday called the coronavirus outbreak “scary stuff”…
Buffett says coronavirus doesn’t dampen his long-term support for stocks
FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire…
China virus scare sends shudder through European luxury goods sector
MILAN (Reuters) – European luxury stocks slumped across the board on Tuesday on fears that the coronavirus virus outbreak in…
France’s LVMH close to buying Tiffany after sweetening offer: sources
(Reuters) – LVMH (LVMH.PA) is close to buying U.S. jewelry chain Tiffany & Co (TIF.N) for about $16.3 billion after…
BlackRock names Mehta head of human resources: memo
NEW YORK (Reuters) – BlackRock Inc (BLK.N), the world’s largest asset manager has appointed Manish Mehta as global head of…
Big companies commit to slash emissions ahead of U.N. climate summit
UNITED NATIONS (Reuters) – Almost 90 big companies in sectors from food to cement to telecommunications are pledging to slash…
Trian and P&G highlight activist-corporate collaboration after ‘fog of war’
NEW YORK (Reuters) – Eighteen months after officially burying the hatchet in one of America’s most bitter proxy contests, Procter…
Bank of America’s push to turn around investment bank is bearing fruit
FILE PHOTO: A Bank Of America sign is pictured in the Manhattan borough of New York August 21, 2014. REUTERS/Carlo…
Vuitton to hire more French handbag makers as Chinese sales boom
BEAULIEU-SUR-LAYON, France (Reuters) – LVMH’s (LVMH.PA) Louis Vuitton brand will hire another 1,500 manufacturing staff in France by 2022, as…
Exclusive: U.S. congressional probe finds possible lapses in Deutsche Bank controls – sources
LONDON/NEW YORK (Reuters) – U.S. congressional investigators have identified possible failures in Deutsche Bank AG’s (DBKGn.D) money laundering controls in…
Activist Jana to push again for changes at Outback owner Bloomin’ Brands
BOSTON (Reuters) – Activist hedge fund Jana Partners on Friday disclosed a large new stake in Outback Steakhouse owner Bloomin’…
Three U.S. bond kings wield same strategy, get same result: lag their peers
NEW YORK (Reuters) – Three names dominate the U.S. world of bond investing – Jeffrey Gundlach, Dan Ivascyn and Scott…
Exclusive: Third Point builds stake in Ray-Ban maker EssilorLuxottica – sources
(Reuters) – Third Point LLC, the U.S. hedge fund that has pushed for changes at companies ranging from Nestle SA…
DoubleLine CEO Jeffrey Gundlach warns Fed rate cuts will not stop U.S. recession
(Reuters) – Jeffrey Gundlach, chief executive of DoubleLine Capital, warned on Wednesday that rate cuts by the U.S. Federal Reserve…
Macy’s shares sink as discounts to clear inventory hurt, tourism drops
(Reuters) – Macy’s Inc (M.N) cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the…
Macy’s sinks as discounts to clear inventory backfire, tourism drops
(Reuters) – Macy’s Inc (M.N) slashed its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the…
Wall Street tumbles on rising fears of recession
(Reuters) – Wall Street main indexes slid more than 2% on Wednesday, as a closely watched U.S. bond market indicator…
Investors embrace ESG investing but don’t target gun stocks
BOSTON (Reuters) – Two new BlackRock Inc funds that exclude gun makers are off to slow starts as socially-minded investors…
Investors look for consumer pressure ahead of next tariffs
(Reuters) – As President Donald Trump prepares to slap new tariffs on Chinese imports, investors are bracing for signs of…
BlackRock CEO Larry Fink says ECB must buy equities to stimulate euro zone
NEW YORK (Reuters) – BlackRock (BLK.N) Chief Executive Larry Fink said on Friday the European Central Bank will need to…
BlackRock profit misses estimates, hit by lower fees for lending stocks
NEW YORK (Reuters) – BlackRock Inc (BLK.N), the world’s largest asset manager, took in less cash last quarter as investors…
BMW picks Oliver Zipse as new CEO
FRANKFURT (Reuters) – BMW (BMWG.DE) said Oliver Zipse will become chief executive on Aug. 16, picking the 55-year-old manufacturing expert…
Wells Fargo tempers cost-cutting outlook
(Reuters) – Wells Fargo & Co reported higher quarterly earnings on Tuesday, due in part to lower expenses, but the…
Anadarko shareholders to vote next month on Occidental deal
Anadarko Petroleum Corporation is seen in The Woodlands, Texas, U.S., April 30, 2019. REUTERS/Loren Elliott HOUSTON (Reuters) – Anadarko Petroleum…
Boxing with giants: Italy’s packing robots are not just cardboard cutouts
(This June 28 story corrects Romaco’s nationality to German, not Italian, in paragraph 17) By Silvia Aloisi CITTÀ DI CASTELLO,…
Amazon founder Bezos’ divorce final with $38 billion settlement: report
FILE PHOTO: 2018 Vanity Fair Oscar Party – Arrivals – Beverly Hills, California, U.S., 04/03/2018 – Amazon CEO Jeff and…
Kering crown jewel Gucci banks on high-end gems for growth
PARIS (Reuters) – Gucci, the luxury brand that powers most of parent Kering’s (PRTP.PA) profits, made its first steps in…
Rich get richer, everyone else not so much in record U.S. expansion
NEW YORK (Reuters) – Last month Pink Floyd frontman David Gilmour sold his guitar collection for $21.5 million, including one…
Deutsche Bank in wealth management hiring spree
LONDON (Reuters) – Deutsche Bank plans to hire 300 more relationship and investment mangers for its wealth management business by…
Icahn steps up fight with Occidental over deal, wants board seats
(Reuters) – Billionaire investor Carl Icahn on Wednesday ratcheted up his fight with Occidental Petroleum over its pending purchase of…
U.S. firms say China tariffs will raise costs, see few sourcing alternatives
WASHINGTON (Reuters) – A wide range of U.S. companies told a hearing in Washington on Monday that they have few…
Deutsche Bank to set up 50 billion euro bad bank: FT
FILE PHOTO: Employees of Germany’s largest business bank, Deutsche Bank, gather ahead of the bank’s annual shareholder meeting in Frankfurt,…
HSBC plans retail wealth headcount boost; eyes Singapore expansion
HONG KONG (Reuters) – HSBC Holdings PLC plans to boost its Asia retail wealth management staff by about 300 by…
Factbox: U.S. companies warn Trump’s tariffs could hit results
(Reuters) – A host of U.S. consumer companies have warned that costs related to tariffs on goods imported from China…
Nordstrom cuts 2019 forecast after quarterly results miss big
(Reuters) – Nordstrom Inc on Tuesday cut its forecast for full-year sales and profit after reporting weaker than expected first-quarter…
Highlights: Wit and wisdom of Warren Buffett, the ‘Oracle of Omaha’
NEW YORK (Reuters) – Warren Buffett, the 88-year-old chairman and chief executive of Berkshire Hathaway Inc, is taking hours of…
‘We screwed up’ not buying Google shares, Berkshire’s Munger says
Berkshire Hathaway Vice Chairman Charlie Munger walks past a crowd at the annual Berkshire shareholder shopping day in Omaha, Nebraska,…
Warren Buffett: Berkshire discloses enough about itself
Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at…
Wall Street Weekahead: Record-breaking rally leaving energy stocks behind
NEW YORK (Reuters) – The stock market surge since the start of the year that has sent the benchmark S&P…
Exclusive: Loeb’s Third Point building stake to pressure Sony – sources
(Reuters) – Daniel Loeb’s hedge fund Third Point LLC is building a stake in Sony Corp to push for changes…
Australia to overhaul regulators after landmark banking inquiry
CANBERRA (Reuters) – Australia’s corporate regulators will be subjected to a new oversight body in a shake-up of the banking…
Asset managers brace for more job cuts amid market turbulence
LONDON/NEW YORK (Reuters) – Turmoil on financial markets is expected to deepen layoffs and accelerate acquisitions in the fund management…
Nordstrom’s full-price comparable sales for holiday season disappoints
FILE PHOTO: The Nordstrom store is pictured in Broomfield, Colorado, February 23, 2017. REUTERS/Rick Wilking (Reuters) – Nordstrom Inc (JWN.N)…
‘Pooey Puitton’ purse said to irk Louis Vuitton, prompts lawsuit
(Reuters) – A California toy company has sued Louis Vuitton to stop the French luxury goods maker from interfering with…
U.S. retirees try to keep cool as stocks tumble
BOSTON (Reuters) – Nancy Farrington, a retiree who turns 75 next month, admits to being in a constant state of…
Licking their wounds, fund managers prep for rally in ’19
NEW YORK (Reuters) – With bond and equity markets from the United States to emerging markets all on pace to…
Julius Baer in talks with Santander over Venezuela business: sources
ZURICH (Reuters) – Swiss private bank Julius Baer (BAER.S) is in talks about transferring its Venezuelan book of business to…
Machines take the blame as U.S. stock market sells off
NEW YORK (Reuters) – Investors searching for perpetrators and victims in this week’s U.S. stock market selloff pointed to a…
Danske shares slide as U.S. criminal inquiry spooks investors
COPENHAGEN (Reuters) – Danske Bank’s (DANSKE.CO) deepening money laundering scandal dragged its shares to a four-year low on Friday as…
SEC halts trading in two cryptocurrency products, citing market confusion
NEW YORK (Reuters) – The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two…
U.S. stock fund investors show no fear of King Dollar
NEW YORK (Reuters) – U.S. fund investors are in no rush to shore up defenses against the strong dollar. Traders…
Trade war threatens reign of luxury stocks
LONDON/PARIS (Reuters) – An escalating trade war between the United States and China could abruptly end a glittering stock market…