The New York Stock Exchange and Nasdaq would no longer be able to offer a kind of special discount that rewards Wall Street brokerages for routing large amounts of trade orders to them under a new plan from the Securities and Exchange Commission. On Wednesday, the SEC proposed banning so-called...
Morgan Stanley’s third-quarter earnings slid amid sluggish results from the firm’s investment bank and a miss in wealth management. Revenue from the fixed-income trading business slumped 11% and, along with muted fees from dealmaking, caused a drop in net income. Revenue of $6.4 billion from the firm’s wealth management business...
Citadel Securities and a trade group sued the Securities and Exchange Commission on Tuesday over changes the regulator is making to how trading data are reported and paid for in the markets. Ken Griffin’s market-making firm and the American Securities Association petitioned the 11th US Circuit Court of Appeals in...
Any potential equity market rally is at risk if geopolitical uncertainty escalates further, according to Goldman Sachs Group Inc. Their outlook comes as an extension in the Israel-Hamas conflict threatens to hit the supply of oil and crimp appetite for risky assets. At the same time, investors remain concerned about...
Gold jumped to the highest level in four weeks as the intensifying conflict in the Middle East bolstered haven demand, with hopes for a diplomatic resolution deteriorating after a deadly explosion in Gaza. US President Joe Biden’s visit to Israel and Jordan scheduled for Wednesday began to unravel even before he left the ground,...
Health insurance premiums jumped this year amid a post-pandemic spike in costs of care, adding to the burden on employers and workers as inflation erodes broader buying power. The average employer-sponsored health insurance premium for U.S. families rose 7% to almost $24,000 this year, according to an annual KFF survey...
UBS Group AG and two major Chinese lenders have been drawn into one of Singapore’s largest money laundering cases, as a police affidavit showed that an alleged fugitive involved had stashed millions at the banks. Wang Dehai, who is also wanted in China for illegal online gambling activities, kept HK$53...
The Treasury market is serving up levels of volatility last seen during the pandemic-era turbulence of March 2020. The U.S. 30-year yield shifted by almost 13 basis points a day over the last five trading days, the highest in more than three years and more than three times a much...
A brief 10% surge in Bitcoin gave traders a glimpse into the possible impact of a looming US Securities & Exchange Commission decision on whether to allow exchange-traded funds that invest directly in the token. An erroneous report that BlackRock Inc. had won approval to launch a spot ETF rapidly...
JPMorgan Chase & Co. sold green bonds for the first time in over two years as global sales of the debt accelerate at a record pace. The biggest US bank raised $7.25 billion of bonds in three parts, according to a person with knowledge of the matter. The shortest portion...