Investment banking conditions have improved over recent months but remains "very fragile," UBS Chief Executive Sergio Ermotti said on Thursday, adding the Swiss lender's own business was performing in line with the industry.
U.S. money market fund assets rose for a sixth consecutive week, bringing the total to a fresh nine-plus year peak as investors piled cash into low-risk funds on concerns about global trade tensions, a private report released on Wednesday showed.
For the Parkers of Houston, Texas, there will be no summer vacation this year because they are still paying off the dent in their finances left by 2017's Hurricane Harvey.
Britain's financial watchdog said it was examining a decision by a frozen Woodford fund to list investments in Guernsey, as wealth manager St James's Place pulled 3.5 billion pounds ($4.45 billion) from the firm in a widening fall-out from the suspension.
Investors pulled approximately $4.7 billion out of mutual funds and exchange-traded funds that hold U.S. stocks last week as concerns about escalating trade wars weighed on equity markets worldwide, according to data released Wednesday by the Investment Company Institute.
A worsening customer service crisis at the Social Security Administration has prompted three of its former commissioners to urge the U.S. Congress to fix the annual budgeting process that has starved the agency of the resources it needs to do its job.
Wells Fargo & Co said on Wednesday it will narrow the focus of its philanthropy toward three causes including affordable housing and will donate $1 billion to housing over the next few years.
Famed for eschewing the tech bubble and sticking with tobacco and pharmaceuticals as others sold out, Neil Woodford's cult status among British money managers is on the ropes after some of his investors were unable to recoup their money.
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