Global Shares Rise as Pound Slumps on EU-Exit Date
London shares led global markets higher Tuesday as the British pound slumped to a more than three-decade low. Futures pointed to a flat opening for the S&P 500. London’s FTSE 100 index was up more than 1.8%, at its highest level since the spring...>> view originalDeutsche Bank's Troubles Touch a Nationalist Nerve
The International Monetary Fund warned three months ago that Deutsche Bank posed a potential systemic threat to the global financial system. Today the problems facing Germany's largest lender are fueling a different kind of risk: that of a growing nationalist backlash in Germany.On Monday, the chairman of the German parliament's economics committee Peter Ramsauer gave an interview to Welt am Sonntag in which he called the $14 billion fine over Deutsche Bank's mortgage-backed securities business ..>> view originalMorgan Stanley Brokers Pushed Loans to Win Dinners
Morgan Stanley is in trouble in Massachusetts for allegedly running a sales contest for some of its financial advisers in which the advisers could win valuable prizes by convincing clients to borrow against their brokerage accounts. Except that the prize money could only be spent on entertaining more clients: Rather than respond to the needs of their clients, Financial Advisors began to push PLAs in order to win the BDA incentives awarded under the Sales Contest. Financial Advisors used the BDA ..>> view originalFormer Wells Fargo Employees Describe Toxic Sales Culture, Even At HQ
Enlarge this image The entrance to the Wells Fargo Headquarters on California Street in San Francisco. Ariel Zambelich/NPR hide caption toggle caption Ariel Zambelich/NPR The entrance to the Wells Fargo Headquarters on California Street in San Francisco. Ariel Zambelich/NPR ..>> view originalSweden's Ericsson cuts 3000 jobs, reduces operations
The Associated Press 8:44 a.m. EDT October 4, 2016Flags with the logo of telecoms equipment maker Ericsson flutter outside the company's headquarters in Stockholm.(Photo: Maja Suslin, AFP/Getty Images)STOCKHOLM - Ericsson said Tuesday it will cut 3,000 jobs in Sweden, or nearly 20% of its local workforce, and will downsize operations at several plants as part of its global plan to cut costs by $1 billion in 2017.The Swedish networks company employs 115,000 people globally, of which ..>> view originalAmerica's Richest Women 2016
The stark differences between the Trump and Clinton tax plans and how they address 'loopholes'
Donald Trump's struggles in the New Jersey casino business predated his reported $916 million loss claimed on his 1995 tax returns. (Jewel Samad/AFP/Getty Images) Both candidates for president have promised to scale back the federal tax code's vast number of "loopholes." On his website, Donald Trump promises to "eliminate special interest loopholes, make our business tax rate more competitive to keep jobs in America, create new opportunities and revitalize our economy." On her site, Hillary ..>> view originalIndian central bank's new regime cuts rates
* India cenbank cuts repo rate by 25 bps to 6.25 pct* Rate now lowest since November, 2010* New monetary policy committee unanimous in voting to cut* Analysts see scope for another rate cut by March (Updates with quotes, details, background)By Suvashree Choudhury and Rafael NamMUMBAI, Oct 4 India's newly minted monetary policy committee delivered a surprise 25-basis-point cut in the repo rate on Tuesday to 6.25 percent, as Reserve Bank of India Governor Urjit Patel presided over his first po..>> view originalTokyo leads Asian stocks higher as yen stumbles
Stock markets were broadly higher across Asia Tuesday, with Japanese equities leading the region as solid U.S. manufacturing data weakened the yen against the dollar. In other currencies, the British pound GBPUSD, -0.6308% ..>> view originalBill Gross Says Bitcoin, Blockchain May Counter Central Banks
New financial technologies such as bitcoin may become increasingly attractive to investors as a protection against central bank low- and negative-interest-rate policies that threaten capitalism, according to billionaire bond manager Bill Gross.Policies by the Federal Reserve, Bank of Japan and European Central Bank are destroying historical business models that foster savings, investment and economic growth, Gross, who runs the $1.5 billion Janus Global Unconstrained Bond Fund, said in an Octo..>> view original
Sunday, October 9, 2016
Global Shares Rise as Pound Slumps on EU-Exit Date and other top stories.
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