Monday, 8 May 2017

Reuters Money: May 8, 2017

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Monday, May 8, 2017
How skateboard legend Tony Hawk plans for the long road ahead
NEW YORK (Reuters) - When most people hear the name Tony Hawk, they picture him whirling through a 900 on his skateboard at ESPN's X-Games, or on the cover of the iconic video game series, Tony Hawk's Pro Skater, which has collectively sold millions of copies.
Paul Singer's Elliott Management raises $5 billion in 24 hours: letter
NEW YORK (Reuters) - Paul Singer's hedge fund firm Elliott Management Corp raised more than $5 billion in about 24 hours this week, citing a major potential investment opportunity at a time when Singer said financial markets could face a disruption after being distorted by years of economic stimulus.
Vanguard CEO cites 'inherent conflict' in paying brokerages to sell funds
NEW YORK (Reuters) - Vanguard Group Chief Executive Officer Bill McNabb said on Thursday that Morgan Stanley had decided to stop selling its mutual funds because the largest U.S. brokerage by salesforce wants "to be compensated for being on their platform in one way or another, and that's something we just won't do."
Column: Future of retirement planning belongs to the cyborgs
CHICAGO (Reuters) - Who will help you plan for retirement - a robot or a cyborg?
Jay Clayton sworn in as chairman of the U.S. SEC
WASHINGTON (Reuters) - Wall Street attorney Jay Clayton was officially sworn in as chairman of the U.S. Securities and Exchange Commission by U.S. Supreme Court Justice Anthony Kennedy on Thursday, the agency announced.
U.S. regulation of fintech companies should not prompt a turf war - OCC's Curry
WASHINGTON (Reuters) - Start-up lenders that reach customers online should be able to choose between a federal or state banking license as they grow, a leading U.S. banking regulator said on Thursday as he prepares to step aside.
Milken's big money investors 'grind it out' as bull market ages
NEW YORK (Reuters) - Top investment fund managers at the Milken Institute Global Conference this week said they had little choice but to focus on unusual and complicated corners of the financial markets as stock markets have risen and interest rates remain low.
Morgan Stanley drops Vanguard mutual funds
NEW YORK (Reuters) - Morgan Stanley, the largest U.S. brokerage by salesforce, said on Wednesday it is dropping mutual funds from Vanguard Group, the largest U.S. mutual fund firm.
Are high profits here to stay?
(Reuters) - Investors betting that the high level of U.S. corporate profits will revert to the "old normal" may have a long and costly wait on their hands. 
Einhorn, nursing losses on Tesla, says investors 'hypnotized' by Musk
NEW YORK (Reuters) - Hedge fund manager David Einhorn said on Wednesday that investors remain charmed by Tesla Inc Chief Executive Elon Musk, boosting the stock by 30 percent in the first quarter, even though the electric car maker's performance did not justify such gains.
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