Archive for May, 2016

Wall Street ends May with whimper as energy shares slump

May 31st, 2016

Wall Street ends May with whimper as energy shares slump

Trader Peter Tuchman works on the floor of the NYSEThe Nasdaq closed higher on Tuesday, and ended up 3.6 percent for the month, the best performance of the three major indexes. The Dow eked out gains for May to notch its fourth straight positive month.

Source
Stock Markets News Headlines – Yahoo! News

GLOBAL MARKETS-U.S. stocks fall on economic worries, dollar firms

May 31st, 2016

GLOBAL MARKETS-U.S. stocks fall on economic worries, dollar firms
* U.S. oil futures give back gains tied to driving demand

(Updates market action, adds quotes)

Source
Reuters: US Dollar Report

FOREX-Dollar gains vs pound, euro as Brexit fears rise

May 31st, 2016

FOREX-Dollar gains vs pound, euro as Brexit fears rise
* British voters move toward voting to leave EU – ICM
surveys

Source
Reuters: US Dollar Report

U.S. stocks fall on economic worries, dollar firms

May 31st, 2016

U.S. stocks fall on economic worries, dollar firms

Traders work on the floor of the NYSEBy Richard Leong NEW YORK (Reuters) – U.S. stock prices fell on Tuesday on weaker-than-expected economic data, while expectations of a possible Federal Reserve interest rate increase lifted the dollar to near a two-month high against a basket of currencies. The drop on Wall Street stoked safe-haven bids for gold and less riskier U.S. and German government debt. Oil futures faded into the red after rising earlier on expected U.S. gasoline demand for summer driving.

Source
Stock Markets News Headlines – Yahoo! News

Fidelity Contrafund cuts Chipotle stake by 21 percent

May 31st, 2016

Fidelity Contrafund cuts Chipotle stake by 21 percent
BOSTON (Reuters) – The Fidelity Contrafund cut its stake in Chipotle Mexican Grill Inc by 21 percent in April as the burrito chain continued to deal with fallout from last year’s E.coli outbreak.

Source
Reuters: Money

Couples get separation anxiety over financial planners

May 31st, 2016

Couples get separation anxiety over financial planners
NEW YORK (Reuters) – When Rick Parks and his wife Cindy got married a couple of years ago, the Knoxville couple shared a lot of things together: A home, family trips and holiday gatherings.

Source
Reuters: Money

Old Mutual proposes 1,000 pct break-up bonus for CEO Hemphill

May 31st, 2016

Old Mutual proposes 1,000 pct break-up bonus for CEO Hemphill
LONDON (Reuters) – Anglo-South African financial services firm Old Mutual on Tuesday proposed a maximum pay-out for chief executive Bruce Hemphill of 1,000 percent of his 2016 base salary in the…

Source
Reuters: Money

BlackRock CEO says he is 'nervous' about Europe ahead of Brexit vote

May 31st, 2016

BlackRock CEO says he is 'nervous' about Europe ahead of Brexit vote
NEW YORK (Reuters) – BlackRock Inc Chief Executive Laurence Fink on Tuesday said he is “nervous” about Europe ahead of a June referendum on whether Britain should remain in European Union, the…

Source
Reuters: Money

Jefferies hires two restructuring investment bankers

May 31st, 2016

Jefferies hires two restructuring investment bankers
(Reuters) – Jefferies LLC has hired two restructuring bankers, Jeffrey Finger of boutique investment bank Centerview Partners Holdings LLC and Douglas Brickley, formerly of financial advisory firm…

Source
Reuters: Money

Goldman's Cohn defends bank's trading business amid revenue slump

May 31st, 2016

Goldman's Cohn defends bank's trading business amid revenue slump

Cohn, President and Chief Operating Officer, Goldman Sachs attends the session 'Where Is the Chinese Economy Heading?' of the annual meeting of the World Economic Forum (WEF) in DavosCohn said there was little correlation between the average size of a bank’s fixed income and equities trading revenue and the firm’s overall return on equity, a key measure of how well it uses shareholder capital to earn profits. “While we could increase our market-making revenue, it may not translate into better returns,” Cohn said at an investor conference organized by Deutsche Bank AG. Wall Street banks have seen revenue from their fixed income trading units decline as new regulations introduced since the financial crisis have made bond trading less profitable and more capital intensive.

Source
Stock Markets News Headlines – Yahoo! News