Much of the fossil fuel industry may be facing an era of credit downgrades if producers prove too slow to adapt to a low-carbon future, according to Fitch Ratings. Oil and gas companies stand out as the most vulnerable issuers in an analysis by Fitch, which sought to gauge how...
Macro trades have bounced back to become the best performing hedge fund strategy in the third quarter, turning a page on a dismal first half that saw economic uncertainty weigh on managers. Asset-weighted returns for macro funds hit 3.07% in the three months through September, according to data from fund...
American sportswear fashion brand Champion store seen in Hong Kong.Chukrut Budrul | SOPA Images | Sipa via AP ImagesBrand management firms WHP Global and Authentic Brands Group are both interested in buying Champion from its parent company Hanesbrands, which is considering offloading the sportswear line amid pressure from activist...
The Swiss franc is back on track to be the strongest performing G-10 currency against the dollar this year, beating all of its peers in October. Investors including Amundi and J.P. Morgan Private Bank say its rally has scope to run and options recently showed the highest bets for franc...
A woman walks past a CVS Pharmacy in Washington, D.C., on Nov. 2, 2022.Brendan Smialowski | AFP | Getty ImagesCVS on Wednesday reported third-quarter adjusted earnings and revenue that topped Wall Street's expectations, lifted in part by strong revenue from the company's health services business. CVS booked sales of $89.76...
Aston Martin DBS Superleggera(c) Paul A. Eisenstein | TheDetroitBureauShares of Aston Martin were down by 11% at 10:01 a.m. London time Wednesday morning, slightly paring losses incurred after the British luxury carmaker cut its volume target due to production problems for its new DB12 model and posted a bigger-than-expected...
Advisors who make one-off recommendations to 401(k) plans and participants may face a new reality under the latest fiduciary rule proposed by the Department of Labor: They will be fiduciaries, whether they like it or not. Tuesday, the agency proposed a rule that would again redefine “fiduciary” under the Employee...
President Biden warned financial advisors Tuesday not to recommend high-fee investment products that line their own pockets rather than help their clients build a nest egg, as he promoted a proposal to raise advice standards for retirement accounts. “Most advisors give their clients good advice at a fair price and...
As more financial advisors go independent, David Settanni will attest that making the switch to the RIA space was one of the best things he did for his career. “Being in the independent broker-dealer channel, I just felt that we didn’t have any necessarily brand recognition,” said Settanni, who’s advisor...