The federal judge who ruled that Ripple Labs Inc.’s cryptocurrency doesn’t constitute a security when sold to the general public denied the Securities and Exchange Commission’s request to appeal the determination before trial. U.S. District Judge Analisa Torres on Tuesday ruled against the regulator in a case it filed against...
At the University of Tampa, Anthony Viggiano and three classmates faced off against another school in the 2018 “Ethics Invitational.” Hosted by the CFA Institute’s local branch, the competition tested which team could best tackle dilemmas they’d face as financial professionals. Viggiano’s team won and walked off with a $1,000 prize. A few...
A smaller share of wealthy households donated money to charitable causes in 2022 amid rising economic uncertainty, according to a new report from Bank of America Corp. About 85% of affluent U.S. households made charitable contributions in 2022, down from 88% in 2020, according to a biennial study by Bank...
The world’s top bankers and investors mostly stayed away from last year’s United Nations climate conference in the Egyptian resort town of Sharm El-Sheikh. But holding December’s COP28 meeting in Dubai, one of the world’s major financial centers, pretty much guarantees they’ll make a much bigger showing. Banks including Barclays Plc, Citigroup Inc. and...
Izzy Englander’s Millennium Management is in discussions to invest billions of dollars with Schonfeld Strategic Advisers in a rare partnership deal between two industry heavyweights, according to people familiar with the matter. Schonfeld, with about $13 billion of assets under management, would handle money for Millennium, which oversees about $60...
Money management firms launched new exchange-traded funds at a rapid pace last month, shaking off fears that the $7 trillion industry is already overrun with low-cost investment vehicles. Sixty-nine new ETFs came to market in September, making it one of the busiest months since at least 2016, data compiled by...
Federal Reserve Bank of Cleveland President Loretta Mester said the central bank will likely need to raise rates once more this year and then hold them at higher levels for some time to get inflation back to its 2% target. However, Mester said the final decision will depend on how...
More and more Wall Street equity strategists are sounding the alarm on the impact of higher interest rates. The team at Goldman Sachs Group Inc. joined peers at Morgan Stanley and JPMorgan Chase & Co. warning that elevated rates could spark further declines in equities. They pointed to the divergence...
The slide in Treasuries has been excessive given recent economic data and Federal Reserve policy, suggesting it’s instead being driven by fears over the swelling US deficit, some of Wall Street’s biggest names say. Benchmark US yields jumped to the highest levels in 16 years Monday, extending an uptrend that...
Singapore is investigating the role that some single family offices played in one of the city’s largest money laundering cases and weighing further rules on the sector. Authorities found that one or more of the accused in the case involving more than S$2.8 billion ($2 billion) of assets may have...