The Securities and Exchange Commission is poised to impose new fees on brokers to help pay for an expansive market-surveillance system. The plan to fund the audit-trail system to track billions of daily equities and options trades faces stiff opposition from industry trade groups and heavyweight players including Citadel Securities...
European stocks fell amid weak German data and elevated oil prices that reignited concerns over inflation. The Stoxx 600 index retreated 0.6%, sliding for a sixth day after German factory orders plummeted in July, a sign that the woes of Europe’s biggest economy continued into the third quarter. The euro jumped as...
Morgan Stanley is returning to a bearish view on emerging-market currencies, citing concerns over China’s growth risks that not only weigh on the yuan but also further pressure a weak global economy. The shift from a neutral stance partly resulted from a view change on the offshore yuan, where the...
Grid constraints, the still high cost of green technology and planning delays are holding up $18 trillion worth of investments needed to reach global 2030 climate goals, making any rapid energy transition increasingly unlikely. The incorporation of renewable and other low-carbon sources of energy must happen three times faster than...
The Middle East is home to some of the world’s largest sovereign wealth funds. Overseeing close to $3 trillion of assets, these investing giants have become key players in global dealmaking. Flush with cash from last year’s commodity boom, entities from Abu Dhabi Investment Authority to Saudi Arabia’s Public Investment...
A former DRW Holdings LLC trader and research analyst was accused in a lawsuit of stealing proprietary computer code used in the firm’s quantitative strategies. Avi Mahajan was sued in federal court in New York on Tuesday by an entity controlled by DRW’s lead quantitative researcher, David Sweet. According to the suit,...
Wells Fargo & Co.’s former head of retail banking should spend a year in prison for impeding a probe of the bank’s practice of opening millions of accounts for customers without their authorization, prosecutors said. Carrie L. Tolstedt, the only executive at the bank to be accused of criminal wrongdoing...
Goldman Sachs Group Inc. now sees a 15% chance the US will slide into recession, down from 20% previously as cooling inflation and a still-resilient labor market suggest the Federal Reserve may not need to raise interest rates any further. “First, real disposable income looks set to reaccelerate in 2024...
A record sell-off in Chinese stocks by global funds has pushed their positioning to the lowest since October, with money managers unswayed by the stimulus measures that have been coming through over the past few weeks. The average underweight position by global long-only managers is back to where it was...
US equity investors are in for disappointment as economic growth is set to be weaker than expected this year, according to Morgan Stanley’s staunch bear, Michael Wilson. The strategist’s warning contrasts with the rally on Wall Street, driven by expectations the economy can withstand the Federal Reserve’s hiking campaign, which...