Monday, 12 July 2021

Reuters Global Investor: New Alzheimer’s drug clouds outlook for Medicare premiums next year

New Alzheimer's drug clouds outlook for Medicare premiums next year

The decision by U.S. drug regulators last month to approve a controversial treatment for Alzheimer's disease could fuel an unusually large increase in Medicare premiums next year, but the outlook is clouded by a number of factors that will play out later this year.

Plus500 income drops from record 2020, but holds above pre-pandemic levels

Online trading platform Plus500 (PLUSP.L) on Monday reported a sharp fall in customer income for the first half of 2021, as trading levels eased from record volumes a year earlier when pandemic fears gripped financial markets.

MSP Recovery to go public via nearly $33 bln mega SPAC deal

MSP Recovery, which helps recover money from Medicare and Medicaid secondary payments, will go public through a deal with a blank-check firm, giving the combined company an enterprise value of $32.6 billion in the second biggest SPAC merger.

What is open banking?

U.S. President Joe Biden plans to sign an executive order on Friday that asks the Consumer Financial Protection Bureau (CFPB) to issue rules giving consumers full control of their financial data to make it easier for them to switch lenders .

EXCLUSIVE Robinhood gives founders second chance at $1.4 billion windfall

Stock-trading app Robinhood Markets Inc (HOOD.O) is giving its billionaire founders four more years to hit share price targets that trigger stock awards worth $1.4 billion, according to a regulatory filing and four executive compensation experts who reviewed it.

Wells Fargo to close all personal lines of credit - CNBC

Wells Fargo & Co (WFC.N) is shutting down all existing personal lines of credit and is not offering the consumer lending product anymore, CNBC reported on Thursday, citing letters from the bank.

Falling U.S. bond yields may signal death knell for 'reflation' stock trade

Stock investors are watching the dramatic moves in the Treasury market for clues on the fate of one of this year's most successful plays - the so-called reflation trade that helped power shares of economically sensitive companies higher after nearly a decade of underperformance.

Wells Fargo appoints insider Nipul Patel to lead real estate banking

Wells Fargo & Co (WFC.N) said on Thursday it appointed veteran Nipul Patel to lead real estate banking, effective July 15.

U.S. bond managers say market has overshot, yields too low

Investors at some of the largest U.S. asset managers are holding fast to the view that bond yields will move higher in the second half of this year, despite the recent slide in Treasury yields, which they see as a temporary move.

U.S. IPO market a danger zone for Chinese firms after Beijing crackdown

China's stepped-up scrutiny of overseas listings by its companies and a clampdown on ride-hailing giant Didi Global Inc (DIDI.N) soon after its debut in New York have darkened the outlook for listings in the United States, bankers and investors said.

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