Reuters - Money

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Tuesday, September 12, 2017

BlackRock reshuffles top regional, business unit executives

NEW YORK (Reuters) - BlackRock Inc, the world's largest asset manager, is reshuffling some of its top regional executives and placing new leadership at the head of its lucrative alternatives business, according to a memo on Tuesday.

Lenders, investors breathe easier as U.S. hurricane waters recede

NEW YORK (Reuters) - Financial institutions with exposure to U.S. properties hit by Hurricanes Harvey and Irma are tempering their loss estimates, as the damage to homes and businesses has been far less severe than expected.

Ex-Platinum executive, NYC union chief must face fraud charges

NEW YORK (Reuters) - A federal judge in Manhattan on Monday refused to dismiss fraud charges against a former Platinum Partners hedge fund executive and a former union leader for New York City prison guards, who claimed their indictment was based on illegal wiretaps.

Former F-Squared CEO goes to trial in SEC fraud case

BOSTON (Reuters) - The former chief executive of F-Squared Investments Inc, once the largest U.S. money manager creating portfolios out of exchange-traded funds, went to trial on Monday on charges by the top U.S. securities regulator that he misled investors.

Trump administration signals plans to defang retirement rule

NEW YORK (Reuters) - The U.S. government will likely water down a key part of a landmark retirement rule, lawyers for the Department of Labor said, signaling that the government will offer an out for brokerages that would have been subject to class action lawsuits.

Europe's bank regulators on expensive hiring spree before Brexit

FRANKFURT (Reuters) - Europe's regulators are competing to hire risk specialists to prepare for an influx of banks escaping Brexit, nudging up salaries and stretching staff budgets.

Your Money: How to live in a world where your data is not secure

NEW YORK(Reuters) - If you were not yet convinced that your personal data was at risk from cyber thieves, the latest breach of 143 million consumer records at credit bureau Equifax should scare you straight.

Family offices look to emerging market equities for yield: report

LONDON (Reuters) - Companies that manage portfolios for individual families are looking to increase investments in emerging markets after higher equities helped them achieve average returns of 7 percent in 2016, according to a report by Campden Research and UBS.

Bitcoin ETF idea still a little funky, experts say

NEW YORK (Reuters) - Demand for exchange-traded funds that would provide exposure to cryptocurrencies like bitcoin is strong, but regulators will likely wait until the underlying market matures more before approving such products, a panel of securities industry experts said on Friday.

U.S. banks move to broaden reach of Zelle instant payments app

NEW YORK (Reuters) - A consortium of U.S. banks is taking another step next week to attract a critical mass of users to their Zelle network, a rival to PayPal's Venmo for handling instant payments between individuals with smartphones.