Reuters - Money

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Friday, January 19, 2018

Morgan Stanley raises targets, but Wall Street wants more

(Reuters) - Morgan Stanley raised key profitability and efficiency targets on Thursday, but those loftier goals failed to impress Wall Street analysts, who repeatedly asked Chief Executive Officer James Gorman why the bank could not do even better.

Exclusive: Blackstone's Hill hands hedge fund reins to McCormick

BOSTON (Reuters) - After nearly two decades of growing Blackstone Group into the world's biggest hedge fund investor with some $74 billion in assets, J. Tomilson Hill is passing the baton.

Thadaney to leave Toronto Stock Exchange owner TMX Group

(Reuters) - TMX Group's head of equity capital markets, Nicholas Thadaney, is leaving Canada's biggest stock exchange operator after a reorganization of the company, Chief Executive Officer Lou Eccleston said.

Families can pool resources for disabled in ABLE accounts

CHICAGO (Reuters) - TJ Rodriguez is 36 and cannot walk without a walker, but horse riding helps him build his strength.

Your estate plan needs an update, even if it is new

NEW YORK (Reuters) - Got a dusty old binder with your will and estate plan? Even if you had your paperwork set up a few years ago, all of your documents are now out of date, thanks to new tax laws that went into effect at the turn of the year.

U.S. fund investors pull most cash from 'junk' in two months: Lipper

NEW YORK (Reuters) - U.S. fund investors pulled $3.1 billion from high-yield "junk" bonds during the latest week, Lipper data showed on Thursday, offering new warning signs about risk appetite despite global markets' continuing triumph.

Factbox: Big U.S. banks' fourth-quarter results muddied by new tax law

(Reuters) - Morgan Stanley reported quarterly results on Thursday, rounding off an earnings season for big U.S. banks marked by across-the-board hit to profits from the U.S. tax overhaul.

Ex-Bank of America executive Malik to launch fund advisory firm

NEW YORK (Reuters) - Omeed Malik, a former Bank of America Merrill Lynch executive, is preparing to launch an advisory firm for hedge funds and other so-called alternative investment managers, according to a person familiar with the situation.

Nursing home study raises questions on Medicare managed care networks

CHICAGO (Reuters) - Managed care is the hot trend in Medicare, with the number of seniors enrolled in Medicare Advantage plans projected to soar over the coming decade.

Oil specialist Westbeck to launch electric vehicle hedge fund

LONDON (Reuters) - Oil-focused hedge fund firm Westbeck Capital will enter new territory next month with an equities fund designed to tap into growing excitement over electric vehicles, according to a draft investor presentation seen by Reuters.