Money

Mutual fund giant Vanguard says hack at SEC won’t hurt clients

BOSTON (Reuters) – Vanguard Group, the largest U.S. mutual fund company, said on Thursday that the hack into the Securities and Exchange Commission’s electronic filings database will not hurt clients. Reuters: Money

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Exclusive: Macquarie leapfrogs Goldman to join top tier of commodity banks

LONDON (Reuters) – Australia’s Macquarie Group Ltd has overtaken Goldman Sachs to break into the top three banks for commodities business, having significantly expanded its U.S. energy operations in… Reuters: Money

Money

Stockpicking mutual fund managers try new bet: themselves

NEW YORK (Reuters) – Active mutual fund managers are decreasing the use of passive exchange-traded funds in their portfolios, a shift that leaves more of their performance numbers up to their own… Reuters: Money

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U.S. watchdog settled for small fine over Wells Fargo phony accounts: report

WASHINGTON (Reuters) – A consumer watchdog agency could have levied $ 10 billion in penalties against Wells Fargo & Co last year for opening unauthorized customer accounts, but settled for a fraction… Reuters: Money

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Sale of ex-Trump aide Scaramucci’s SkyBridge on track: executive

BOSTON (Reuters) – The sale of former White House communications director Anthony Scaramucci’s SkyBridge Capital LLC hedge fund investment firm to a consortium that includes a Chinese buyer is still… Reuters: Money

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Fewer hedge fund managers call it quits in 1st-half 2017

BOSTON (Reuters) – The number of hedge funds closing their doors this year is slowing as investors add new money and performance improves. Reuters: Money

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Goldman Sachs names new investment banking co-heads for Southeast Asia

(Reuters) – Goldman Sachs named Udhay Furtado and Harry Naysmith co-heads of its investment banking unit in Southeast Asia, according to an internal memo seen by Reuters. Reuters: Money

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Treasury’s Mnuchin says no tax cut for wealthy

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Thursday that the Trump administration’s upcoming tax plan will not be aimed at lowering income taxes for the wealthiest… Reuters: Money

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‘Trump Trade’ returns? Small-cap stocks rally on hopes of tax deal

NEW YORK (Reuters) – With time running out before Congress turns its attention to the 2018 mid-term elections, small-cap stocks are increasingly acting as a bellwether for the market’s expectations… Reuters: Money

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Morgan Stanley to handle mortgage originations in home-loan push: sources

(Reuters) – Morgan Stanley plans to bring its mortgage origination business in-house to improve customer service and generate more business, two people familiar with the matter told Reuters on Friday. Reuters: Money