Monday 15 October 2018

Gray divorces and tax changes complicate retirement

Gray divorces and tax changes complicate retirement

When people over the age of 50 get divorced, retirement accounts become a key asset, even more so sometimes than the house or alimony. Lawyers and feuding couples are bracing for big changes at the end of 2018 for how these assets get split up.

Mnuchin to attend top Saudi event, media exit over missing journalist

U.S. Treasury Secretary Steven Mnuchin and Wall Street bankers will show up at an elite Saudi investment conference this month despite a growing exodus of top media companies and business leaders after the disappearance of a Saudi journalist.

U.S. banks profit from higher rates, more loans and lower costs

Three of the largest U.S. lenders reported double-digit profit increases on Friday, helped by an expanding economy and lower taxes, and forecast more growth ahead as long as current trends continue.

Graphic: U.S. banks enjoy benefits of a growing economy, lower taxes

The U.S. banking industry is enjoying the benefits of a growing economy and lower taxes, if the double-digit profit growth posted by three major lenders on Friday is any indication.

Englander's Millennium hires portfolio manager from Citadel: sources

Millennium Management, the $36 billion hedge fund run by Israel Englander, has hired a portfolio manager from rival Ken Griffin's Citadel, two people familiar with the situation said on Friday.

Speculators lift net long U.S. dollar bets to highest since mid-Dec 2016: CFTC, Reuters

Speculators' net long bets on the U.S. dollar climbed to their highest since mid-December 2016 in the latest week, according to calculations by Reuters and the Commodity Futures Trading Commission released on Friday.

Wells Fargo profit rises, cost cuts paying off

Wells Fargo & Co posted a 32 percent jump in quarterly profit on Friday, as the bank made headway in its cost-cutting plan and worked to put past misdeeds behind it.

Citigroup profit beats on higher bond trading, lower costs

Citigroup Inc reported a better-than-expected quarterly profit on Friday, helped by lower expenses, higher bond trading revenue and strength in its consumer banking business in Mexico.

PNC expects small rise in quarterly loan growth, shares fall

U.S. regional bank PNC Financial Services Group Inc on Friday reported disappointing quarterly loan growth and said it expected only a small improvement in lending for the final three months of the year, sending its shares down 5 percent.

Your Money: What is the best play for your money right now?

When the stock market has suffered a couple of really big slides in a row, like it did this week, the financial advice to those who are freaking out is always: Do not look at your account balances. But maybe, just this once, you should peek.

Related Videos

Don't panic, says Rich Guerrini, but stocks could fall another 5 percent

The CEO of PNC Investments tells Reuters' Fred Katayama that the two-day sell-off is a market episode, not an economic episode. He says 2018 should still yield "decent" returns.

Wall Street sells off

Wall Street indexes continued their slide in Thursday's volatile session as investors worried about rising interest rates and braced for impact on corporate earnings from trade conflicts. Fred Katayama reports.
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