Reuters - Money

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Friday, March 10, 2017

Merrill Lynch may keep commission-based retirement accounts: source

(Reuters) - Merrill Lynch, a unit of Bank of America Corp, may not entirely do away with its commission-based retirement accounts, after Trump ordered the Labor Department last month to delay the proposed retirement-savings rule.

Life lessons from the 'first lady of nails'

NEW YORK (Reuters) - OPI's nail polish is ubiquitous around the world, but the beauty products company had humble beginnings as a dental supply operation in the 1980s.

No matador in sight as bull market in U.S. stocks turns eight

NEW YORK (Reuters) - The run of gains on Wall Street turns 8 years old on Thursday and, despite its advanced age, is expected to rage on, with perhaps a few hiccups, based on a combination of stronger company earnings, lower taxes and a corporate-friendly administration in Washington.

Bill Gross says investors should not be 'allured' by 'Trump bull market'

NEW YORK (Reuters) - Bond investor Bill Gross warned on Thursday that investors should not be tempted into buying high-flying equities and corporate bonds, given the possibility that U.S. President Donald Trump might fail to enact policies that fuel economic growth.

Equity funds' inflow streak extends to 10th week: BAML

LONDON (Reuters) - The likelihood of a more aggressive U.S. Fed after an expected March rate rise failed to dent stock market investments over the past week, with equity funds receiving $11.8 billion for a 10th straight week of inflows, data showed on Friday.

Investors cash out of U.S.-based junk bond funds

NEW YORK (Reuters) - Investors are spurning U.S.-based high-yield junk bond funds, Lipper data showed on Thursday, as they keep gobbling up stocks and other risky assets.

Utility-focused hedge fund Electron Capital hires Melloul from TIAA

BOSTON (Reuters) - Hedge fund Electron Capital Partners, which invests in global utilities and infrastructure companies, has hired Eric Melloul as a partner from financial services company TIAA, a person familiar with the move said on Thursday.

Column: Threatened pension cuts will test Trump ties to U.S. Rust Belt voters

CHICAGO (Reuters) - Karen Friedman has been traveling the country speaking at meetings of retired union members - and they are angry. What riles them is the prospect of deep cuts in promised pension benefits, and they are hoping for relief from President Donald Trump.

Wells Fargo demotes senior executives in retail banking unit: WSJ

(Reuters) - Wells Fargo & Co has taken further steps to restructure its retail banking business, demoting some senior executives within the bank, the Wall Street Journal reported on Thursday, citing employees and memos.

Share turnover by fund managers not helping business: expert

(This version of the March 9th story corrects name in paragraphs 2 and 5)