Bhinneka News Online: Reuters Money: July 28, 2017

Friday, 28 July 2017

Reuters Money: July 28, 2017

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Friday, July 28, 2017

Wells Fargo board not changing quickly enough: NYC Comptroller

(Reuters) - Wells Fargo & Co needs to work more quickly to remake its board of directors following a sales scandal and public rebuke at the bank's annual meeting in April, New York City Comptroller Scott Stringer said.

Morgan Stanley names board member Glocer as new independent lead director

NEW YORK (Reuters) - Morgan Stanley board member Thomas Glocer will take over the role of independent lead director starting in September, the bank said on Thursday.

Republicans' next health reform act targets Medicare

CHICAGO (Reuters) - President Donald Trump has vowed repeatedly that he "wouldn't touch" Medicare or Social Security, but someone forgot to tell House Republicans.

Ex-Lehman trader loses most of $83 million bonus bid: U.S. appeals court

NEW YORK (Reuters) - A former star Lehman Brothers Holdings Inc [LEHMB.UL] trader can try to recoup only about $7.7 million of an $83 million bonus he claimed to be owed after the investment bank collapsed in 2008, a federal appeals court ruled on Thursday.

Macro trader Fisher joins Soros as CommonWealth shuts

NEW YORK (Reuters) - Macro hedge fund firm CommonWealth Opportunity Capital GP LLC is shutting down and its leader, Adam Fisher, is set to join Soros Fund Management LLC, where he will help manage money for billionaire George Soros, according to people familiar with the situation.

Your Money: Why you need time, money to serve on a volunteer board

NEW YORK (Reuters) - For many of us, the notion of being on a board of directors seems like the pinnacle of capitalist dreams.

U.S. fund investors shun stocks during second-quarter earnings, buy bonds: Lipper

NEW YORK (Reuters) - U.S. fund investors sidestepped stocks in favor of bonds during the latest week, Lipper data showed on Thursday, showing little confidence as a heavy dose of second-quarter corporate earnings results rolled in.

U.S. muni bond funds post $323 million in inflows: Lipper

U.S. municipal bond funds reported $323 million of net inflows in the week ended July 26, compared with $298.6 million in inflows in the previous week, according to data released by Lipper on Thursday.

Lawyers for ex-Wells Fargo broker ordered to hand over client data

NEW YORK (Reuters) - A New Jersey court on Wednesday ordered lawyers for a former Wells Fargo & Co employee to hand over reams of customer information that the bank's outside counsel accidentally provided the lawyers in response to a subpoena.

Hedge fund Third Point bets on Alibaba, again

BOSTON (Reuters) - Hedge fund Third Point made a new bet on Chinese e-commerce firm Alibaba during the second quarter and told investors in a letter that it was still finding attractive new opportunities even as the stock market has surged this year.