Reuters - Money

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Friday, May 5, 2017

Vanguard CEO cites 'inherent conflict' in paying brokerages to sell funds

NEW YORK (Reuters) - Vanguard Group Chief Executive Officer Bill McNabb said on Thursday that Morgan Stanley had decided to stop selling its mutual funds because the largest U.S. brokerage by salesforce wants "to be compensated for being on their platform in one way or another, and that's something we just won't do."

Column: Future of retirement planning belongs to the cyborgs

CHICAGO (Reuters) - Who will help you plan for retirement - a robot or a cyborg?

Jay Clayton sworn in as chairman of the U.S. SEC

WASHINGTON (Reuters) - Wall Street attorney Jay Clayton was officially sworn in as chairman of the U.S. Securities and Exchange Commission by U.S. Supreme Court Justice Anthony Kennedy on Thursday, the agency announced.

U.S. regulation of fintech companies should not prompt a turf war - OCC's Curry

WASHINGTON (Reuters) - Start-up lenders that reach customers online should be able to choose between a federal or state banking license as they grow, a leading U.S. banking regulator said on Thursday as he prepares to step aside.

Foreign stocks funds gain steam as U.S. stock prices doubted: Lipper

NEW YORK (Reuters) - U.S.-based fund investors underscored their preference for foreign stocks, reversing the prior week's inflows for domestic equity funds and moving money to Europe and emerging markets, Lipper data showed on Thursday.

Milken's big money investors 'grind it out' as bull market ages

NEW YORK (Reuters) - Top investment fund managers at the Milken Institute Global Conference this week said they had little choice but to focus on unusual and complicated corners of the financial markets as stock markets have risen and interest rates remain low.

Morgan Stanley drops Vanguard mutual funds

NEW YORK (Reuters) - Morgan Stanley, the largest U.S. brokerage by salesforce, said on Wednesday it is dropping mutual funds from Vanguard Group, the largest U.S. mutual fund firm.

Are high profits here to stay?

(Reuters) - Investors betting that the high level of U.S. corporate profits will revert to the “old normal” may have a long and costly wait on their hands.

Einhorn, nursing losses on Tesla, says investors 'hypnotized' by Musk

NEW YORK (Reuters) - Hedge fund manager David Einhorn said on Wednesday that investors remain charmed by Tesla Inc Chief Executive Elon Musk, boosting the stock by 30 percent in the first quarter, even though the electric car maker's performance did not justify such gains.

First Jobs: A toast to how winemakers got their starts

NEW YORK(Reuters) - Not all of the world's most notable winemakers are to the manor born, and they are not all from France or Italy. Some took a more circuitous route to the vineyard and now toil anywhere from Napa Valley to New Zealand.