As Trump tax comes to floor, failure could spell stocks selloff

As Trump tax comes to floor, failure could spell stocks selloff

NEW YORK (Reuters) – Investors are increasingly pricing in the effect of a corporate tax cut into the shares of U.S. companies, leaving the market primed for a steep sell-off if the Republican-controlled Congress fails to pass one of President Donald Trump’s top priorities. FILE PHOTO: A street sign is seen in front of the […]

SEC fines UBS $3.5 million for overcharging mutual fund customers

SEC fines UBS $3.5 million for overcharging mutual fund customers

(Reuters) – UBS AG (UBSG.S) will pay a $ 3.5 million civil fine to settle U.S. Securities and Exchange Commission claims that it overcharged customers on mutual funds, the regulator said on Friday. FILE PHOTO – The logo of Swiss bank UBS is seen on a branch office in Zurich, Switzerland November 8, 2016. REUTERS/Arnd […]

Global insurers look to raise rates after catastrophic quarter

Global insurers look to raise rates after catastrophic quarter

(Reuters) – Insurers and reinsurers around the globe are looking to raise rates after what looks set to be their most costly quarter on record. A recreational vehicle (RV) that caught fire is pictured following Hurricane Irma in Cudjoe Key, Florida, U.S., September 24, 2017. REUTERS/Carlo Allegri Hurricanes Irma and Maria alone caused as much […]

Higher bond yields, soft earnings weigh on Wall St.

Higher bond yields, soft earnings weigh on Wall St.

NEW YORK (Reuters) – U.S. stocks fell on Wednesday, with the Dow Industrials and S&P 500 indexes suffering their worst day in seven weeks, on a batch of soft quarterly earnings and a rise in bond yields. Benchmark U.S. 10-year note US10YT=RR yields hit a seven-month high of 2.475 percent, buoyed by economic data, recent […]

Fidelity chairman says U.S. regulations lag social media advances

Fidelity chairman says U.S. regulations lag social media advances

BOSTON (Reuters) – U.S. financial regulations on data retention do not fit with the way people expect to communicate on social media, Fidelity Investments Chairman Abigail Johnson said on Tuesday. FILE PHOTO: Fidelity Chairman and Chief Executive Officer Abigail Johnson interviews founder of Bloomberg L.P. and former New York City Mayor Michael Bloomberg about innovation […]

IBM lags in cloud computing and AI. Can tech’s great survivor recover?

IBM lags in cloud computing and AI. Can tech’s great survivor recover?

TECHNOLOGY giants are a bit like dinosaurs. Most do not adapt successfully to a new age—a “platform shift” in the lingo. A few make it through two and even three. But only a single company spans them all: IBM, which is more than a century old, having started as a maker of tabulating machines that […]

Recent hurricanes take toll on quarterly earnings

Recent hurricanes take toll on quarterly earnings

SAN FRANCISCO (Reuters) – After raging over the southern United States and Puerto Rico, remnants of hurricanes Harvey, Irma and Maria are now dampening U.S. corporate profits. Traders gather for the IPO of Singapore-based Sea Limited on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 20, 2017. REUTERS/Brendan McDermid […]

Ackman urges ADP to consider acquiring Ceridian amid proxy fight

Ackman urges ADP to consider acquiring Ceridian amid proxy fight

BOSTON (Reuters) – Activist investor William Ackman, currently battling for board seats at Automatic Data Processing Inc (ADP.O), on Thursday said the human resource software company should buy rival Ceridian, in a move that could woo customers with a better product. FILE PHOTO – William Ackman, chief executive of Pershing Square walks on the floor […]

‘Dr. Doom’, Marc Faber, removed from more boards after comments on race

‘Dr. Doom’, Marc Faber, removed from more boards after comments on race

NEW YORK (Reuters) – Marc Faber, the markets prognosticator known as “Dr. Doom,” has been dismissed from three more company boards after comments in his latest newsletter this week suggested the United States had only prospered because it was settled by white people. FILE PHOTO: Dr. Marc Faber, publisher of investment newsletter “The Gloom Boom […]

Stock market’s future in Trump’s hands as Federal Reserve chair pick looms

Stock market’s future in Trump’s hands as Federal Reserve chair pick looms

NEW YORK (Reuters) – Investors awaiting the nomination of the next Federal Reserve chair are hoping whoever is nominated pursues the same monetary policy that has supported rising stock prices for the past nine years. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 20, 2017. REUTERS/Brendan […]