Reuters - Money

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Thursday, May 25, 2017

Wells Fargo Advisors creates new mutual fund class for fiduciary rule

NEW YORK (Reuters) - Wells Fargo Advisors will launch a new share class of mutual funds next month as part of its plan to comply with the new U.S. Labor Department regulation that seeks to put the interests of retirement clients first, the bank confirmed Wednesday.

Traders trim view on U.S. rate hikes after Fed minutes

NEW YORK (Reuters) - U.S. interest rate futures ended higher on Wednesday as traders scaled back bets on two more rate increases by the end of 2017 following the Federal Reserve's release of its May 2-3 policy meeting minutes.

Fund managers exhibit skill, hurt by extra work: James Saft

(Reuters) - Fund managers may show genuine and long-lasting skill, but do more poorly as the good ones are piled with responsibilities.

Morgan Stanley to curb veteran adviser recruiting

NEW YORK (Reuters) - Morgan Stanley, the biggest U.S. brokerage by head count, told brokers Tuesday that it is standing down from the expensive recruitment wars, following similar steps taken earlier this month by competitor Bank of America Merrill Lynch.

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.

U.S. Federal Home Loan Banks rely less on short-term debt: FHFA's Watt

(Reuters) - The U.S. Federal Home Loan Bank system has made progress in depending less on short-term debt to fund its longer-term assets through the sale of longer-dated bonds, Federal Housing Finance Agency Director Melvin Watt said on Tuesday.

CFA exam to add artificial intelligence, 'big data' questions

NEW YORK (Reuters) - Students of investing will need to start cramming for a new subject: computer science.

Citi narrowly tops annual FX traders ranking

LONDON (Reuters) - U.S. bank Citi held on to top spot in the foreign exchange industry’s main annual ranking of traders by volume on Wednesday despite losing around 2 percent in market share, results showed.

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.