By David Milliken LONDON (Reuters) – A jump in British household saving since the COVID-19 pandemic appears here to stay and cannot be fully explained by higher interest rates or unemployment fe[...]
Read more
Uncategorized
A ‘gambling instinct’ has caused India’s surge in retail derivatives trading, government report says
MUMBAI (Reuters) – The sharp jump in derivative trading by Indian retail investors is likely driven by a “gambling instinct”, a finance ministry report said on Monday, cautioning tha[...]
Read more
Berkshire sells around $1.48 billion Bank of America shares, filing shows
(Reuters) -Berkshire Hathaway sold about 33.9 million shares of Bank of America for around $1.48 billion over multiple transactions this week, a regulatory filing showed. After the sale, Berkshire own[...]
Read more
IMF says U.S. should raise taxes, wait until late 2024 to cut rates
By David Lawder WASHINGTON (Reuters) -The International Monetary Fund on Thursday said the U.S. Federal Reserve should not cut interest rates until “late 2024” and the government needs to[...]
Read more
US watchdog says paycheck advances subject to lending law
(Reuters) -Increasingly popular “earned wage” advances on worker paychecks are consumer loans subject to existing federal laws, the U.S. Consumer Financial Protection Bureau (CFPB) said on[...]
Read more
Golden rule: Why younger investors are drawn to gold
By Chris Taylor NEW YORK (Reuters) – What asset class do millennials and Gen Z investors both want to own? Here is an answer you may not have guessed: Gold. Among wealthy investors under the age[...]
Read more
Exclusive-Hit by client exits, PwC to slash China partners’ pay, sources say
By Julie Zhu HONG KONG (Reuters) – PricewaterhouseCoopers (PwC) has asked its China-based partners to take a pay cut of up to 50%, two people with knowledge of the matter said, as a regulatory p[...]
Read more
Standard Chartered boosts private bank team with 14 new hires
HONG KONG (Reuters) – Standard Chartered has hired more than a dozen new bankers to its private banking teams in Singapore, Hong Kong and the United Arab Emirates in a bid to grow the affluent b[...]
Read more
Hedge funds shed risk in tech megacap sell-off, Goldman says
By Carolina Mandl NEW YORK (Reuters) – Global hedge funds have been reducing their exposure to U.S. stocks for five days in a row amid a market-wide pullback in megacap tech-related stocks, Gold[...]
Read more