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...
The International Monetary Fund upgraded its projections for China’s annual economic growth this year and next as the nation recorded a stronger-than-expected performance in the third quarter and Beijing rolled out policies to support the recovery.The IMF expects China’s gross domestic product t Learn more about reprints and licensing for...
Two groups sometimes at odds with Finra over how best to protect investors are backing the regulator against a lawsuit that questions its constitutionality. The Financial Industry Regulatory Authority Inc. is defending itself against a claim brought by Alpine Securities Corp., a firm Finra expell Learn more about reprints and licensing...
Robert W. Baird & Co. Inc. and the Financial Industry Regulatory Authority Inc. said Monday that they had reached a settlement in which Baird pays clients close to $520,000 in restitution for the firm’s failure over a six-year period to give clients certain sales charge waivers and fee rebates...
A team of advisors who managed $225 million in client assets at United Planners Financial Services has joined LPL Financial’s broker-dealer, RIA and custodial platforms, the firm announced Monday. GER Loftin Wealth Advisors is based in Johns Creek, Georgia, and led by James Loftin, an Air Force veteran, and George...
As the famous quote goes, nothing is certain in life except death and taxes. Carolyn McClanahan, founder of Life Planning Partners, knows both intimately, having started out as an emergency room physician. “Now, nothing seems as challenging as that,” she says. That’s not to say, of course, that death never...