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Tuesday, September 26, 2017

Exclusive: Macquarie leapfrogs Goldman to join top tier of commodity banks

LONDON (Reuters) - Australia's Macquarie Group Ltd has overtaken Goldman Sachs to break into the top three banks for commodities business, having significantly expanded its U.S. energy operations in recent years while rivals cut back.

Wells Fargo hires new law firm to prepare CEO for Senate appearance

NEW YORK (Reuters) - Wells Fargo & Co. has hired law firm Sidley Austin to take the lead in preparing Chief Executive Tim Sloan for his appearance before the U.S. Congress next month to answer questions about a year-long sales practices scandal, according to four sources with knowledge of the decision.

Ackman targets retail investors in ADP proxy contest

BOSTON (Reuters) - Billionaire hedge fund manager William Ackman, whose firm has a 2 percent voting stake in Automatic Data Processing Inc , is turning up the heat in his proxy war for the human resources outsourcing company by targeting an often-ignored but influential group of people - retail investors.

Mutual fund giant Vanguard says hack at SEC won't hurt clients

BOSTON (Reuters) - Vanguard Group, the largest U.S. mutual fund company, said on Thursday that the hack into the Securities and Exchange Commission's electronic filings database will not hurt clients.

U.S. household net worth rises again in second quarter 2017

WASHINGTON (Reuters) - The wealth of U.S. households rose to $96.2 trillion in the second quarter of this year as U.S. stock prices hit record highs and home values continued to climb, a report by the Federal Reserve showed on Thursday.

Wells Fargo CEO to testify before Senate as questions linger over scandal

WASHINGTON (Reuters) - Wells Fargo Chief Executive Tim Sloan is due to testify before Congress on Oct. 3 as the bank deals with fallout from a sales scandal a year ago that continues to spark new revelations.

Latest Republican assault on healthcare would punish older Americans

CHICAGO (Reuters) - The Republicans’ battle to repeal Obamacare is starting to look less like warfare and more like a game of whack-a-mole.

U.S. bond funds, tech stocks attract huge inflows: Lipper

NEW YORK (Reuters) - U.S.-based taxable-bond funds took in $7 billion during the latest week, the largest weekly intake since July, adding to an already strong year for debt against the backdrop of a rate-hiking cycle, Lipper data showed on Thursday.

Three tips for smart dividend ETF plays

NEW YORK(Reuters) - Pop quiz: What percentage of long-term stock market returns are thanks to the humble dividend? Five? 10? 20?

College savings in 529 plans may be worth less than hoped

CHICAGO (Reuters) - (In this Sept. 20 column, corrects penultimate paragraph to say that the duration of the average 529 fund for 19-year-olds is 4.32 years instead of 4.32 percent, and that many of those funds have a duration of close to six years instead of close to 6 percent.)