Prudential names Michael Falcon to lead North American business unit

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Prudential names Michael Falcon to lead North American business unit

Britain's largest listed insurer Prudential Plc said it had appointed JP Morgan's Asia asset management business boss Michael Falcon to lead its North American business unit, effective Jan. 7.

Machines take the blame as U.S. stock market sells off

Investors searching for perpetrators and victims in this week's U.S. stock market selloff pointed to a familiar source: number-crunching fund managers and machines.

Explainer: What are risk-parity funds?

The market's quick and hard-to-explain declines this week led some investors to point fingers at number-crunching fund strategies designed to control and balance risk.

Rising interest rates cast shadow on Chicago pension bond plan

A continued surge in interest rates could sink a plan under consideration by Chicago Mayor Rahm Emanuel's administration for a massive bond sale to boost pension funding, a city official said on Thursday.

Wells Fargo touts good deeds to get back in lawmakers' good graces

Tired of being cast as the poster child for big banks behaving badly, Wells Fargo & Co has been expanding its presence in the nation's capital to convince lawmakers it has changed and talking up its charitable work in their districts.

U.S. retirees to get welcome bump in Social Security benefits

Come January, most U.S. retirees will get some welcome news when they check their bank accounts - the biggest inflation adjustment to Social Security benefits in eight years.

Bad timing as Vanguard service glitches start before market drop

If plunging markets during Wednesday's U.S. trading session proved unlucky for investors, the timing was especially bad for Vanguard Group Inc.

Ackman's Pershing Square unveils $900 million stake in Starbucks

William Ackman said on Tuesday his activist hedge fund Pershing Square Capital Management LP has built a roughly $900 million position in Starbucks Corp , betting the world's biggest coffee chain can overcome stagnant sales in its home market.

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