Stocks edged lower as investors awaited clues on the path of interest rates from a raft of central bank officials including Federal Reserve Chair Jerome Powell. Europe’s Stoxx 600 fell 0.1% and US equity futures traded little changed. The 10-year Treasury yields climbed by three basis points to 4.6%. West...
The team responsible for assembling BlackRock Inc.’s model portfolios is favoring the stock market’s largest companies, potentially unleashing a flood of billions of dollars into technology shares. The investing giant, one of the biggest providers of the ready-made strategies followed by asset managers and financial advisers, is “pretty overweight” on megacap tech...
As Republican legislators in the US try to wipe ESG off the map, most global investors and executives are acting as though those efforts will ultimately fail. Using environmental, social and governance metrics is now mainstream, according to 89% of investors who responded to a survey published Wednesday by Bloomberg Intelligence....
UBS Group AG has begun the sale of hotly-anticipated additional tier 1 bonds, marking its first issuance of the securities since Credit Suisse’s writedown of about $17 billion of the debt. The bank is offering two dollar-denominated perpetual tranches callable in five and 10 years, according to a person familiar...
HSBC Holdings Plc plans to offer institutional clients a custody service for digital assets such as tokenized securities, the bank’s latest move in the new area of finance. HSBC will work with Ripple Labs Inc.-owned technology firm Metaco on the safekeeping services, which it expects to go live in 2024,...
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...
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...