Industry News

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Stock market rally at risk from geopolitics, says Goldman Sachs
NEWS INDUSTRY NEWS OCT 18, 2023
Stock market rally at risk from geopolitics, says Goldman Sachs

Strategists warn that further escalation could derail growth.

By Bloomberg
Gold at four-week high as investors seek havens
NEWS INDUSTRY NEWS OCT 18, 2023
Gold at four-week high as investors seek havens

Middle East conflict is intensifying demand for safer investments.

By Bloomberg
Health insurance premiums have spiked to $24K
NEWS INDUSTRY NEWS OCT 18, 2023
Health insurance premiums have spiked to $24K

Survey reveals 7% jump in costs for US families compared to just 1% last year.

By Bloomberg
UBS joins Chinese lenders drawn into $2B money laundering probe
NEWS INDUSTRY NEWS OCT 18, 2023
UBS joins Chinese lenders drawn into $2B money laundering probe

Alleged gambling ring arrests have sparked police investigation into where the profits were stored.

By Bloomberg
Bank of America sees decline in income for wealth group
NEWS WIREHOUSES OCT 17, 2023
Bank of America sees decline in income for wealth group

CEO Brian Moynihan calls the wealth management group 'the least efficient business in the platform.'

By Bruce Kelly
Investors turning more bearish on the market, more optimistic on the economy
NEWS INDUSTRY NEWS OCT 17, 2023
Investors turning more bearish on the market, more optimistic on the economy

Morgan Stanley survey takes the pulse of US investors.

By Steve Randall
Bitcoin up 10% as investors weigh potential ETF green light
NEWS INDUSTRY NEWS OCT 17, 2023
Bitcoin up 10% as investors weigh potential ETF green light

A false report claimed that the SEC had approved BlackRock's spot ETF application.

By Bloomberg
JPMorgan breaks 2-year green bond freeze with $7B sale
NEWS INDUSTRY NEWS OCT 17, 2023
JPMorgan breaks 2-year green bond freeze with $7B sale

Green bond sales have surged in 2023.

By Bloomberg
Retail rebound? Holiday season spending to grow, says Deloitte
NEWS INDUSTRY NEWS OCT 17, 2023
Retail rebound? Holiday season spending to grow, says Deloitte

The firm sees a 14% jump but middle-income consumers may be constrained.

By Bloomberg
Banker loses unfair dismissal case after sandwich expenses claim goes bad
NEWS INDUSTRY NEWS OCT 17, 2023
Banker loses unfair dismissal case after sandwich expenses claim goes bad

Fired employee claimed expenses for his partner’s meal against company rules.

By Steve Randall
Schwab net interest revenue drops 24% as clients move cash
NEWS INDUSTRY NEWS OCT 16, 2023
Schwab net interest revenue drops 24% as clients move cash

The Fed's rate hikes have pressured Schwab's banking arm by encouraging some clients to shift money from the bank to other investment products.

By Bloomberg
NAIFA, FSP to merge to create 'more impactful' industry body
NEWS INDUSTRY NEWS OCT 16, 2023
NAIFA, FSP to merge to create 'more impactful' industry body

Members of both organizations have voted in favor of a tie-up.

By Steve Randall
Markets weak as US and allies try to calm Middle East tensions
NEWS INDUSTRY NEWS OCT 16, 2023
Markets weak as US and allies try to calm Middle East tensions

Traders are also watching reports that US will curb China's access to lucrative semiconductors market.

By Bloomberg
As year-end approaches, maybe the 'year of the bond' will be 2024?
NEWS INDUSTRY NEWS OCT 16, 2023
As year-end approaches, maybe the 'year of the bond' will be 2024?

This year proved to be a tough one instead of the boom strategists expected, but there’s always next year.

By Bloomberg
Footwear firm's IPO shows US market is yet to find its feet
NEWS INDUSTRY NEWS OCT 16, 2023
Footwear firm's IPO shows US market is yet to find its feet

Market challenges have subdued debuts on Wall Street and globally.

By Bloomberg
Investors love SMAs but what do advisors think?
NEWS INDUSTRY NEWS OCT 13, 2023
Investors love SMAs but what do advisors think?

SMAs used to be 'more sizzle than steak' but technology gains in recent years have changed the landscape.

By Gregg Greenberg
Wealth Enhancement Group buys Los Angeles RIA
NEWS INDUSTRY NEWS OCT 13, 2023
Wealth Enhancement Group buys Los Angeles RIA

KCS Wealth Advisory manages over $373 million in client assets.

By Josh Welsh
JPMorgan reports another quarter of record net interest income
NEWS INDUSTRY NEWS OCT 13, 2023
JPMorgan reports another quarter of record net interest income

With a boost from higher interest rates and its purchase of First Republic Bank, the firm raised its forecast for the year.

By Bloomberg
US equities can avoid drop if bond yields stay below 5%, says BofA
NEWS INDUSTRY NEWS OCT 13, 2023
US equities can avoid drop if bond yields stay below 5%, says BofA

Strategist Michael Hartnett continues his bearish outlook for stocks.

By Bloomberg
Bank earnings season begins but will investors be convinced?
NEWS INDUSTRY NEWS OCT 13, 2023
Bank earnings season begins but will investors be convinced?

Even strong results may not be enough to clam fears.

By Bloomberg