Global banks fear China will limit JV control through new rules
HONG KONG/SHANGHAI (Reuters) - Western banks are seeking clarification from China's securities watchdog on proposals to allow them to take over their onshore securities ventures, amid concerns about high asset value requirements and limits to ownership by non-financial investors.
Credit Suisse delivers best quarter since Thiam's revamp
ZURICH (Reuters) - Credit Suisse delivered its best quarterly results on Wednesday since Chief Executive Tidjane Thiam launched his restructuring plan for Switzerland's second-biggest bank in 2016, driven by its wealth management business.
DoubleLine's Gundlach says U.S. Treasuries 'not attractive'
NEW YORK (Reuters) - Jeffrey Gundlach, chief executive officer of DoubleLine Capital, said on Tuesday that U.S. Treasuries were "not attractive" even though the 10-year yield
, a benchmark for global borrowing costs, crossed the critical 3 percent threshold earlier in the day.
Wells Fargo investors back leaders despite protests
DES MOINES, Iowa/NEW YORK (Reuters) - Wells Fargo & Co
investors gave strong backing to the bank's directors and executives on Tuesday, indicating they are ready to give its revamped leadership time to rebuild from scandal despite a noisy annual shareholder meeting.
No love for U.S. bank stocks as Treasury yield hits four-year high
(Reuters) - Shares in the biggest U.S. banks, typically buoyed by rising interest rates, dipped Tuesday after the benchmark U.S. Treasury yield topped 3 percent for the first time in four years and some analysts worried about higher interest rates slowing the economy.
High-profile investors bet on stocks tied to millennials: Sohn Conference
NEW YORK (Reuters) - Hedge fund managers at the high-profile 2018 Sohn Investment Conference in New York pitched stock ideas on Monday that they said should benefit from the growing clout of the millennial generation, ranging from online food ordering to homebuilders.
Gundlach says buy oil producers, bet against Facebook: Sohn Conference
NEW YORK (Reuters) - Billionaire investor Jeffrey Gundlach on Monday said investors should consider betting against Facebook Inc because the prospect of regulation still hangs over the social media company's stock.
Zurich court backs Julius Baer in East German assets row
ZURICH (Reuters) - A Swiss appeals court has ruled in favor of private bank Julius Baer
in a suit by a German agency hunting East German assets that went missing after the fall of the Berlin Wall, the bank said on Tuesday.
Goldman names new head of private wealth management for Americas
(Reuters) - Goldman Sachs Group Inc on Monday named company veteran John Mallory to lead its private wealth management business in the Americas.
Glenview's Robbins says talk of Amazon's entering pharma is overblown
NEW YORK (Reuters) - Glenview Capital Management Chief Executive Larry Robbins said on Monday at the Sohn Investment Conference in New York that he still likes a trio of stocks he already owns, citing CVS Health Corp
, McKesson Corp and Express Scripts Holdings .