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Thursday, June 1, 2017

First jobs of Madison Avenue's ad wizards

NEW YORK(Reuters) - Thanks to TV shows like "Mad Men," the advertising world seems to many to be impossibly stylish and full of intrigue.

Wild swings, lack of liquidity keeping U.S. funds out of bitcoin

NEW YORK (Reuters) - A lack of liquidity is keeping U.S.-based mutual fund managers from investing in bitcoin even as the digital currency hits record highs.

Third Point hedge funds gain in May: investor update

BOSTON (Reuters) - Billionaire investor Daniel Loeb's hedge funds continued to make money in May, leaving its Third Point Partners L.P. fund up 9.9 percent for the year and its Third Point Ultra Ltd. up 16.1 percent, according to an investor update.

Wells Fargo's head of wealth and investment management to retire

(Reuters) - Wells Fargo & Co said on Thursday David Carroll, head of wealth and investment management, would retire effective July 1 after nearly 38 years with the company.

Your Money: Creative caregiving solutions for the 'sandwich generation'

NEW YORK (Reuters) - Stretched thin by the needs of your children and your elderly parents? Try this "sandwich generation" solution: Move your young adults in with their grandparents and let them take care of each other.

Q&A: Cyclical stocks set to boost Wall Street rally: Richard Bernstein

NEW YORK (Reuters) - Wall Street's rally is not nearly done, with cyclical stocks set to ride higher even as hopes dim that America's government can deliver business-friendly economic reforms, U.S. money manager Richard Bernstein said on Wednesday.

New York City suspends municipal business with Wells Fargo

NEW YORK (Reuters) - New York City voted on Wednesday to suspend Wells Fargo from its municipal debt issuance operations, citing a rating tied to doing business in low and moderate-income communities as having fallen below a "satisfactory" level.

Fitch Ratings downgrades MetLife's Brighthouse Financial unit

(Reuters) - Fitch Ratings Inc downgraded MetLife Inc's Brighthouse Financial Inc unit on Wednesday, citing the unit's lowering of its capitalization and financial targets from last year.

California could let consumers sue banks, despite arbitration clauses

WASHINGTON (Reuters) - California lawmakers are making headway on legislation to allow state residents to sue financial institutions for fraud, rather than letting banks force customers to settle disputes in arbitration.

In rare twist, cash may prove better portfolio protector than bonds: James Saft

(Reuters) - With bond yields at historic lows, cash may now be in a rare period when it offers better portfolio protection and diversification than bonds.