Reuters Money: May 23, 2017

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Tuesday, May 23, 2017

Bond market braces for impact of New York's free tuition plan

NEW YORK (Reuters) - Little known private colleges that are already struggling to grow their revenues are facing a new threat that could further weaken their finances and make borrowing harder: free tuition at public universities.

Morgan Stanley shareholders approve executive compensation plan

PURCHASE, N.Y. (Reuters) - Morgan Stanley's executive compensation plan received the support of over 90 percent of its shareholders at the bank's annual meeting in its Purchase, New York wealth management headquarters on Monday.

Ahead of Exxon's annual meeting, climate activists gain ground

BOSTON (Reuters) - Shareholder activists focused on climate issues are gaining traction in their push to have large energy companies and utilities take account of the impact rising global temperatures could have on their businesses.

U.S. Labor Secretary says fiduciary rule to take effect on June 9

(Reuters) - The U.S. Labor Department will implement its fiduciary rule on June 9 with no further delays, U.S. Labor Secretary Alexander Acosta said on Tuesday.

Traders renew bets on U.S. rate increase in June

NEW YORK (Reuters) - U.S. interest rates futures fell on Friday, suggesting traders revived bets the Federal Reserve would raise interest rates in June as financial markets recovered from their sharp losses earlier this week.

U.S. accuses Massachusetts hedge fund manager of fraud

BOSTON (Reuters) - A Massachusetts hedge fund manager has been arrested and accused of misappropriating millions of dollars from investors and engaging in a Ponzi-like scheme, U.S. authorities said.

Exclusive: Barclays to hire 100 staff in private banking push

LONDON (Reuters) - Barclays will hire 100 new staff in its private bank as it launches its second attempt in the last seven years to win more business from wealthy clients, a source with direct knowledge of the plans told Reuters.

Julius Baer assets under management swell at start of 2017

ZURICH (Reuters) - Swiss private bank Julius Baer saw its assets under management swell 6 percent in the first four months of 2017 to 356 billion Swiss francs ($365.3 billion), echoing strong starts to the year by larger rivals UBS and Credit Suisse.

Wells Fargo suffers slump in muni bond underwriting

CHICAGO/SAN FRANCISCO (Reuters) - Wells Fargo & Co is paying a price in the U.S. municipal bond market for the bogus customer accounts scandal that hit the bank last year and led to bans by some cities and states, an analysis of Thomson Reuters data shows.

Puerto Rico retirees will get bankruptcy committee: U.S. Trustee

NEW YORK (Reuters) - The U.S. Department of Justice's bankruptcy watchdog said on Friday it plans to appoint a committee of retirees in Puerto Rico's bankruptcy to negotiate for pensioners facing benefit cuts as part of the island's debt restructuring.

Reuters Money: May 23, 2017

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