Big banks reassure staff about potential job cuts

(Reuters) – Big banks are postponing decisions about staff cuts as the coronavirus hits their businesses hard, with executives saying they are unsure how long the outbreak will hurt the economy and worried about being unprepared if business suddenly snaps back. Morgan Stanley (MS.N), Goldman Sachs Group Inc (GS.N), Deutsche Bank (DBKGn.DE), HSBC Holdings PLC (HSBA.L) and Citigroup Inc (C.N) […]

Read more

Senate Coronavirus Stimulus Includes Arts Funding Despite GOP Dismissing It As Frivolous

The Senate passed a sweeping, bipartisan economic stimulus package late Wednesday that, among other provisions, allocates $75 million in funding for the National Endowment for the Arts. It’s a sharp contrast from President Donald Trump and congressional Republicans’ previous attempts to put arts funding on the chopping block, but advocacy organizations said it’s not enough — particularly for smaller arts […]

Read more

Funds, advisors warn against switching super to cash

The prudential regulator is monitoring a higher than normal number of superannuation members switching their balances into cash as super funds seek to limit market volatility and call for calm. This week has seen the ASX post its biggest fall on record after coronavirus fears fuelled a steep sell-off that has wiped billions of dollars in equities value. Wall Street […]

Read more

Asian Shares Follow Wall Street Higher

Asian stocks followed Wall Street higher on Thursday after former U.S. Vice President Joe Biden, widely seen as a business-friendly candidate, strengthened his chances of winning the Democratic presidential nomination. Investor sentiment was also boosted by stimulus measures being taken by global central banks to deal with the economic impact of the coronavirus outbreak. Overnight, the Bank of Canada slashed […]

Read more

Even Utilities and Real Estate Can’t Escape the Market Rout

Real-estate stocks and utilities joined in the latest market rout, showing that even traditional havens that should benefit from lower yields aren’t safe amid a panicked sell-off. The S&P 500 Real Estate Index declined as much as 7.1% Monday, the most since 2011, reversing this month’s gains despite rising expectations that the Federal Reserve will cut policy rates to zero. […]

Read more

The $6 Trillion ETF Revolution Began 30 Years Ago in Toronto

The investing revolution that has swept up more than $6 trillion in assets and upended markets the world over first sparked to life not on Wall Street, but a stock exchange to the north. Thirty years ago on March 9, a small group of bankers and stock exchange employees listed the world’s first exchange-traded fund in Canada’s financial capital — […]

Read more

Budget debate: Offsets will delay impact of GST increase on the lower-income for 10 years

SINGAPORE – The Budget’s new $6 billion Assurance Package will effectively delay the impact of the goods and services tax (GST) increase for the majority of Singaporean households for at least five years, Deputy Prime Minister and Finance Minister Heng Swee Keat said on Friday (Feb 28). For lower-income Singaporeans, the offset will be even higher, and there will effectively […]

Read more

Elizabeth Warren Brilliantly Trolls Chief Justice Roberts ― And He’s Not Happy

Chief Justice John Roberts probably isn’t a fan of Sen. Elizabeth Warren (D-Mass.) after the epic way she trolled him during Thursday’s question-and-answer portion of the impeachment trial. While other senators were throwing questions at the opponents, Warren decided to ask whether the chief justice has hurt the credibility of the Supreme Court by participating in a trial with no witnesses or […]

Read more
1 2 3 35