Wealth
LATEST NEWS FROM WEALTH
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U.S. stock funds post biggest weekly inflow in 13 years -Lipper
U.S.-based stock funds attracted $22.9 billion in the week to Wednesday, the largest weekly inflow since March 2008, as Wall Street's main indexes hit record highs on optimism abou...
Wealth
EXCLUSIVE Veteran investor Foley plans to raise $1.5 bln through two SPACs - source
Veteran investor Bill Foley plans to raise two new blank-check acquisition vehicles which will be named after a Napoleonic battle and seek around $1.5 billion in total from their i...
Wealth
Investor Mark Ein looks to raise $600 mln through two more SPACs
Two blank-check firms formed by investor Mark Ein are aiming to raise about $600 million in their initial public offerings (IPO), regulatory filings showed on Monday.
Wealth
UBS to lift investment bank bonus pool by 20% - Bloomberg News
Swiss bank UBS (UBSG.S) is looking to raise the bonus pool for its investment bankers by as much as 20% after a surge in trading revenue helped it post the highest profit in five y...
Wealth
Prudential CEO mulls shrinking life insurance, "low growth" businesses
Prudential Financial Inc (PRU.N), which has already halted sales of some variable annuities, said on Friday that it will also consider scaling back its individual life insurance an...
Wealth
Performance of funds invested in GameStop in past 2 weeks
The Morgan Stanley Institutional Small Co. Inception Portfolio fund was among the top gainers among mutual funds over the past two weeks having exposure to videogame retailer GameS...
Wealth
U.S. stock funds post biggest weekly outflow since September -Lipper
U.S. -based stock funds in the week ended Wednesday shed $12.4 billion, the biggest outflow since September, according to Lipper.
Wealth
Palihapitiya-backed Clover Health plunges after short-seller Hindenburg weighs in
Noted short-selling specialist Hindenburg Research published a critical report of Chamath Palihapitiya-backed Clover Health Investments Corp (CLOV.O)on Thursday, sending the insura...
Wealth
Bank of America triples affordable housing commitment
Bank of America Corp (BAC.N) said on Wednesday that it would invest $15 billion in affordable housing initiatives over the next five years, tripling its commitment as a booming mor...
Wealth
Column: Basking in 'pseudo wealth'? :Mike Dolan
If "pseudo wealth" is a source of often unexplained economic volatility, then the financial rollercoaster accompanying the pandemic has many wild rides in store.
Wealth
Hot-ticket Gamestop deals blow to hedge funds' January returns, some escape
Prominent hedge funds including Dan Sundheim's D1 Capital Partners and Steve Cohen's Point72 Asset Management chalked up deep losses last month as hotly traded GameStop hurt return...
Wealth
Short seller Kerrisdale goes long on 'The Robinhood of China'
Sahm Adrangi, whose Kerrisdale Capital cemented its reputation with successful bets against Chinese internet companies, came out with a long position in Beijing-based UP Fintech Ho...
Wealth
Houlihan Lokey, Saddle Point seek $250 mln for SPAC
Investment bank Houlihan Lokey (HLI.N) and investment firm Saddle Point Management plan to raise $250 million through a blank-check acquisition vehicle, according to a regulatory f...
Wealth
China mutual funds draw heavy inflows amid stock frenzy
China saw record monthly inflows into new equity and balanced funds in January, as retail investors scramble for exposure to the bullish stock market.
Wealth
Julius Baer hikes 2020 profit, but analysts say trading boom won't last
Julius Baer (BAER.S) posted a 50% rise in 2020 net profit on Monday and said it planned a share buyback, as booming markets and strong client trading helped the Swiss wealth manage...
Wealth
Wells Fargo CEO Scharf's pay drops nearly 12% in 2020
Wells Fargo & Co (WFC.N) Chief Executive Officer Charles Scharf's annual pay fell by about $3 million, or 12%, in 2020, a regulatory filing showed on Friday.
Wealth
Column: Micro-bubbles just reinforce cheap money :Mike Dolan
While everyone was watching the hullabaloo over GameStop and the related short selling pain this week, 10-year U.S. Treasury borrowing costs reversed briefly back below 1% - underl...
Wealth
Power to the players: Wall Street levels up in Reddit rally
Wall Street was contemplating big wins from the Reddit-fueled retail frenzy in stocks such as GameStop on Thursday, even though many hedge funds in its ranks were nursing losses.
Wealth