Slowly but surely, depositors are starting to shift money from basic U.S. bank accounts to products that pay more than a sliver of a percent in interest.
Bank of America Corp reported quarterly profit above analyst expectations on Monday as the second-largest U.S. lender cut expenses and benefited from growth in loans and deposits on the back of a strengthening economy.
Sovereign investors are facing a tougher environment for dealmaking as rising protectionism threatens to curb inward investment and stunt trade, suggesting private market activity may have plateaued, a co-author of a report out on Monday said.
Investors switched to defensive equities and bonds in the week to July 11 as the U.S. slapped tariffs on $34 billion of Chinese imports and then raised the stakes by threatening another round on an extra $200 billion of goods.
The decision marked the end of an era: last month, the keepers of the Dow Jones Industrial Average removed General Electric Co, one of the original stocks included in the index when it was created in 1896.
The fact that investors are siphoning money out of stocks is not helping gold, with the safe-haven asset suffering as people wary of a global trade war flock to the U.S. dollar.
FM Capital Partners (FMCP), which manages money for sovereign wealth fund the Libya Africa Investment Portfolio (LAP), has won a London court case against its former chief executive officer (CEO) over allegations of fraud and corruption.
Schroders' investment strategist tells Reuters' Fred Katayama why he thinks the dollar will turn lower, providing a tailwind for emerging markets investments.
U.S. stocks edged higher on Friday, with the S&P 500 hitting a more than five-month high, as gains in industrials and other areas offset a drop in financials. Fred Katayama reports.
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