The financial services sector is set for substantial growth in the next few years as several factors converge. The global market is anticipated to reach more than US$37.5 trillion dollars by 2027 at a compound annual growth rate (CAGR) of 7.5% according to the latest report from The Business Research...
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...
Market making in digital tokens used to be a font of outsized profitability. The picture today is very different as costs jump and investors avoid a crypto sector scarred by a $2 trillion rout. The price crash led to bankruptcies like that of the FTX exchange, leaving a mountain of coins stranded...
The world’s biggest banks aren’t telling stakeholders what they need to know to judge how big the industry’s carbon footprint is, according to a fresh study. Only five global banks have disclosed the quantitative results of climate scenario analyses to shareholders and clients, according to a report published on Tuesday...
Asset managers trying to sell funds in Europe are finding it “increasingly difficult” to do so unless their products are registered as ESG, according to a study by analysts at Goldman Sachs Group Inc. The research comes more than two years after the European Union enforced its Sustainable Finance Disclosure...
Trade groups for the world’s biggest hedge funds and private equity firms are taking the Securities and Exchange to court over new restrictions it placed on the industry last month. The American Investment Council and the Managed Funds Association are among the groups alleging the SEC went too...
It was one step forward, one step back this week toward a world in which cryptocurrency investments start popping up widely in retirement accounts. ForUsAll, a firm that helps retirement plans offer cryptocurrency investments to their participants, suffered a setback Tuesday when the U.S. Court of Appeals for the District...
The Financial Industry Regulatory Authority Inc. has censured and fined a New Jersey-based broker-dealer and its chief compliance officer for allegedly violating the compliance and care obligations of Regulation Best Interest. From January 2016 to March 2022, Network 1 Financial Securities, a firm with 14 branch offices and approximately 100...