Reuters - Money

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Friday, March 31, 2017

Wells Fargo must face litigation on defective mortgages: U.S. judge

NEW YORK (Reuters) - A federal judge on Thursday said Wells Fargo & Co must face litigation seeking to hold it responsible for billions of dollars of claimed investor losses stemming from its alleged failures as a trustee overseeing risky residential mortgage-backed securities.

Ackman apologizes for Valeant losses, calls bet a mistake

BOSTON (Reuters) - Billionaire hedge fund manager William Ackman has apologized to clients for betting on Valeant Pharmaceuticals International Inc , telling them he was "deeply and profoundly sorry" for losing so much of their money on the investment.

Will Republicans fund tax cuts by tapping retirement piggy bank?

CHICAGO (Reuters) - Tax reform is up next for our Attention Deficit Disorder Republican government, which just rushed through a chaotic, ugly battle to reform our complex healthcare system. The fight over tax reform promises to be just as chaotic and ugly - and it could mean big changes for Americans saving for retirement.

Investors want advice from both robots and humans: study

NEW YORK (Reuters) - Financial advisers across Wall Street's biggest brokerages have fretted over their professional futures in recent years as their firms worked to develop "robo" services for millennial and tech-savvy clients.

New rule lets U.S. brokers intervene if they suspect scams, dementia

NEW YORK (Reuters) - The U.S. Financial Industry Regulatory Authority announced a new rule on Thursday that allows brokers to pause disbursements from client accounts if they suspect a client is suffering from dementia or being influenced by caregivers or scam artists.

Investors tip-toe back to U.S. stock funds

NEW YORK (Reuters) - Investors grew more confident during the latest week, reversing last week's withdrawals from U.S.-based stock funds, data from Lipper showed on Thursday.

Money and makeup: Beauty expert Bobbi Brown's life tips

NEW YORK (Reuters) - Need a master class on how to succeed as an entrepreneur? Just follow the career of Bobbi Brown, who went from waitress to makeup artist to the founder of a now-ubiquitous cosmetics line.

Of pretentious hedge fund names and bad results: James Saft

(Reuters) - You probably already knew that hedge fund names are intended to impress, or even better to confuse just enough to make you stop asking questions, but most of all to inspire confidence.

U.S. money market assets increased in latest week: iMoneyNet

NEW YORK (Reuters) - U.S. money market fund assets increased by $5.47 billion to $2.632 trillion in the week ended March 28, the Money Fund Report said on Wednesday.

BlackRock cuts fees and jobs; stockpicking goes high-tech

NEW YORK (Reuters) - BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market.