Reuters - Money

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Wednesday, May 3, 2017

Super-rich private equity stars rue 'lousy' reputation, say they are misunderstood

BEVERLY HILLS, Calif. (Reuters) - Ultra-wealthy private equity managers lamented their reputation as 'lousy' corporate profiteers at a plush Beverly Hills hotel on Tuesday, arguing their value to society was greater than the public realized.

Gundlach says U.S. dollar will stay on gentle weakening pattern

NEW YORK (Reuters) - The U.S. dollar has been and will likely continue to be on a gentle weakening pattern, Jeffrey Gundlach, chief executive at DoubleLine Capital, said on an investor webcast late on Tuesday.

Despite record highs, fund managers globally remain underweight Apple

NEW YORK (Reuters) - Active stock fund managers around the world are holding the lowest percentage of Apple Inc shares in their portfolios when compared to the iPhone maker's overall weighting in indexes, even as the shares hit record highs, according to a research note by investment bank UBS late Monday.

YOUR MONEY - Is pet insurance worth it?

NEW YORK (Reuters) - When my 8-month old puppy nabbed a chicken thigh bone off a plate and swallowed it whole, I was worried about many things, but the veterinarian bill was not one of them.

AllianceBernstein parent abruptly removes CEO Kraus, directors

BOSTON (Reuters) - The French parent of asset manager AllianceBernstein fired its longtime leader Peter Kraus, replacing him with a new chief executive and and new chairman, and overhauled the firm's board, according to a filing Monday that offered little explanation for the unexpected changes.

CFA Institute mulls adding 'big data' to financial analyst exam

NEW YORK (Reuters) - The CFA Institute will weigh changing its formidable exam to tackle artificial intelligence and the "big data" investors cull for an edge in markets, a senior official from the U.S. accrediting group said on Tuesday.

Morgan Stanley lowers commissions on ETFs, stocks in brokerage accounts

NEW YORK (Reuters) - Morgan Stanley's wealth management business said on Monday it is lowering the commissions that brokers earn on stock trades, exchange-traded funds and annuities amid pressure to lower costs for clients.

Wells Fargo CEO sees benefits to putting employees before shareholders

BEVERLY HILLS (Reuters) - Wells Fargo & Co Chief Executive Officer Tim Sloan said recruiting and retention have improved dramatically in the wake of a sales scandal, as the third-largest U.S. bank has made big changes to how it pays and evaluates employees in its branches.

YOUR MONEY - How to win the family data usage battle

NEW YORK (Reuters) - If it were possible to develop Post-Traumatic Stress Syndrome because of texts from your mobile provider, Brett Anderson would be suffering from it.

U.S. economic growth slower than France, 'terrible': BlackRock's Fink

CHICAGO (Reuters) - BlackRock Inc Chief Executive Officer Larry Fink on Friday sounded another warning on the U.S. economy after the government reported anemic growth in the first quarter.