Monday 28 September 2020

Biden basket vs Trump trade: Picking a presidential stock portfolio

Biden basket vs Trump trade: Picking a presidential stock portfolio

The Nov. 3 presidential election between President Donald Trump and former Vice President Joe Biden could have dramatic effects across markets, and investors are already trying to identify potential winners and losers.

Billionaire bond manager Gundlach suggests he could leave California over taxes

Billionaire bond fund manager Jeffrey Gundlach suggested in a Twitter post late Saturday that he may move from California to a lower-tax state if Sacramento raises taxes on the wealthy.

Wealthy Britons step up citizenship shopping to thwart Brexit

The number of British entrepreneurs looking to "buy" citizenship from countries offering visa-free access to the European Union has risen sharply, investment migration firms say, as prospects of a post-Brexit trade deal between Britain and the bloc darken.

Bank of America issues $2 billion bond to promote racial equality

Bank of America Corp said on Friday it was issuing a $2-billion bond, where a portion of the proceeds will be used for the financial empowerment of Black and Hispanic-Latino communities.

Investors pull $25.8 billion from U.S. equity funds: BofA

Investors pulled a massive $25.8 billion out of U.S. equity funds in the week to Wednesday, the third biggest outflow ever from the asset class, BofA's weekly fund flow report showed on Friday.

Vanguard, BlackRock add new climate-focused ETFs as demand soars

Top asset managers Vanguard Group Inc and BlackRock Inc on Thursday introduced new exchange-traded funds that exclude oil companies, coal producers and other industries that a growing number of investors want to avoid.

Greenlight, maker of money management app for kids, raises $215 million

Greenlight Financial Technology Inc, whose products include an app for parents to help teach financial responsibility to kids, said on Thursday it raised $215 million in its latest funding round, valuing the company at $1.2 billion.

UK managed assets seen near pre-pandemic record above $10 trillion

British fund managers' assets under management rebounded by the end of June towards record highs above 8 trillion pounds seen before the COVID-19 pandemic, estimates from the sector's trade body show.

Citigroup's ICG unit names Kira Cordoba-Brown as head of talent & diversity

Citigroup Inc's institutional clients group (ICG) unit named Kira Cordoba-Brown as the head of talent & diversity on Tuesday.

Wall Street-backed MEMX launches in challenge to NYSE and Nasdaq

The Members Exchange (MEMX), a new U.S. stock exchange backed by some of the biggest customers of the New York Stock Exchange and Nasdaq Inc, launched on Monday with pricing aimed at taking market share from the incumbents.

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