CEO of Uber, Dara Khosrowshahi, speaks onstage during GE The Lean Mindset: The Pursuit Of Progress Event at Chelsea Industrial on September 06, 2023 in New York City.Ilya S. Savenok | Getty Images Entertainment | Getty ImagesUber reported third-quarter results Tuesday that missed analysts' expectations on the top and bottom lines...
UBS Group reported stronger-than-expected client inflows in its wealth management business, boosted by the first signs of stabilization at Credit Suisse as it carries out an expensive and complex integration of its former rival. The unit saw net new money of $22 billion in the third quarter, comp Learn more about...
Market maker and alternative asset manager Abacus Life is expanding into financial planning with the launch of a new wealth division to support its secondary insurance market clients. The firm has partnered with Dynasty Financial Partners for its ABL Wealth offering, which will help clients to un Learn more about reprints...
The large share of U.S. consumers who have an individual retirement account but have balances that make retaining the services of an advisor unrealistic are the focus of a new solution. Morningstar Investment Management and Envestnet plan to launch a managed accounts service that will provide per Learn more about reprints...
Stocks retreated and the dollar rose after a Federal Reserve policymaker dampened hopes of speedy interest rate cuts from the US central bank. Europe’s Stoxx 600 equity index opened around flat, and U.S. equity futures contracts slipped about 0.2% as it became clear central banks will lean against traders’ rate-cut...
Oil fell below $80 a barrel for the first time in more than two months as fresh doubts on whether the Federal Reserve has finished tightening outweighed Saudi Arabia and Russia’s supply cuts. West Texas Intermediate fell as much as 2.2%. Broader financial markets dropped and the dollar strength Learn more...
Cathie Wood’s flagship fund on Monday sold Roku Inc., which recently became its biggest holding, for the first time since August. Wood’s Ark Innovation ETF sold 171,268 shares of the streaming-video platform company on Monday, marking its first sale of the stock since Aug. 10, Ark Investment Management data compiled...
Fragile markets, shadow lenders, international tensions and too many wars — global bankers gathering in Hong Kong were meant to discuss how they’re adapting to the financial world’s “complexity” and ended up dwelling on the potential for big blowups instead. “My biggest fear is there’s one more geopolitical escalation and...
UBS Group AG has decided to exit $5 billion in assets it manages for rich customers as it sorts out the pieces of Credit Suisse it doesn’t want. The lender moved the assets from its wealth management division to its wind-down unit during the third quarter, it said in its...
Morgan Stanley’s James Gorman, preparing to step down as the firm’s leader at the end of this year, said he will also vacate his post as chairman by the end of 2024. “I’ll certainly stay most of the year, if not the whole year, but I won’t stay longer,” Gorman...