Morgan Stanley creating team to educate brokers on U.S. retirement advice rule
(Reuters) – Morgan Stanley is creating a team to educate its financial advisers about a new U.S. rule intended to protect retirement savers, a bank spokesman confirmed on Thursday.
Financial shares mint fifth day of gains; indexes close flat
(Reuters) – Wall Street was little changed on Thursday after two days of solid gains as investors digested the latest round of big bank earnings and financial shares kept bouncing back.
Carlyle enters race for Halliburton-Baker Hughes assets: sources
(Reuters) – Carlyle Group LP has entered the auction for assets that oilfield service providers Halliburton Co and Baker Hughes Inc aim to divest to secure antitrust approval for their merger, a person familiar with the matter said.
BlackRock to restructure after ‘tough’ first quarter
(Reuters) – BlackRock Inc said on Thursday it will cut 400 jobs and take a $76 million restructuring charge after posting a 20 percent drop in first-quarter profit amid a dramatic reversal in financial markets.
United Launch Alliance to lay off up to 875 by end of 2017: CEO
COLORADO SPRINGS, Colo. (Reuters) – United Launch Alliance plans to cut up to 875 jobs before the end of 2017 to better compete against rivals bankrolled by billionaire entrepreneurs including Elon Musk and Jeff Bezos, ULA’s chief executive officer sai…
Wells Fargo profit falls 7 percent as bad loan provisions surge
(Reuters) – Wells Fargo & Co’s quarterly profit fell 7 percent as the No. 3 U.S. bank by assets set aside more than $1 billion to cover bad loans, saying its energy portfolio remained under “significant stress.”
U.S. says China to scrap some export subsidies
WASHINGTON (Reuters) – China has agreed to scrap export subsidies on a range of products from metals to agriculture and textiles, the United States said on Thursday, in a step by Beijing to reduce trade frictions with Washington.
No end in sight for energy pain at Wells Fargo, Bank of America
(Reuters) – Troubles in the U.S. oil industry amplified profit pressures on Wells Fargo & Co and Bank of America Corp on Thursday as rising bad loans added to a tough climate for trading bonds and currencies, along with persistently low interest rates.
Fed to raise rates twice this year but conviction fading: Reuters poll
(Reuters) – The U.S. Federal Reserve will raise interest rates twice this year, most likely in June, but the probability has faded on signs of a weak start to the year, inflation that is still tame and a brittle global backdrop, a Reuters poll showed.
Fed’s Lockhart sets high bar for possible June rate hike
CHICAGO (Reuters) – A top U.S. monetary policymaker on Thursday made it clear he would not support a rate hike this month and set a high bar for supporting any move even at the Federal Reserve’s June meeting.
