Saturday, October 19

Tag: security brokering

American Borrowers Are Getting Closer to Maxing Out
25Nov By adminNo Comments
World

American Borrowers Are Getting Closer to Maxing Out

A happy holiday shopping season might not end up being an especially cheery time for lenders.Card loans are still growing, on average rising 1.6% in October over September across five big U.S. card lenders, versus a seasonally typical 0.7% increase, according to tracking of the latest monthly data by analysts at Goldman Sachs. The trend suggests that consumers still are willing and able to use their cards, portending well for retailers. U.S. retail sales slowed in October, but by less than feared, and were still at an overall solid level. Some retail stocks have jumped recently on hopes for holiday shopping.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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American Borrowers Are Getting Closer to Maxing Out
25Nov By adminNo Comments
Money

American Borrowers Are Getting Closer to Maxing Out

A happy holiday shopping season might not end up being an especially cheery time for lenders.Card loans are still growing, on average rising 1.6% in October over September across five big U.S. card lenders, versus a seasonally typical 0.7% increase, according to tracking of the latest monthly data by analysts at Goldman Sachs. The trend suggests that consumers still are willing and able to use their cards, portending well for retailers. U.S. retail sales slowed in October, but by less than feared, and were still at an overall solid level. Some retail stocks have jumped recently on hopes for holiday shopping.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Fed Probes Morgan Stanley’s International Wealth-Management Practices
8Nov By adminNo Comments
Money

Fed Probes Morgan Stanley’s International Wealth-Management Practices

Morgan Stanley’s wealth-management arm is being scrutinized by the Federal Reserve, which is looking into whether the bank has sufficient controls in place to prevent rich foreign customers from laundering money. The Fed has been probing how Morgan Stanley vets foreigners and the origins of their money before taking them on as customers, according to people familiar with the matter. What started out as a routine review a few years ago escalated after regulators found the bank’s due diligence on clients and anti-money-laundering efforts lacking. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Robinhood No Longer Looks Like a Steal
8Nov By adminNo Comments
Money

Robinhood No Longer Looks Like a Steal

Robinhood Markets may be building the brokerage of the future—and maybe it always will be.Shares of the online brokerage are down nearly 15% after its third-quarter earnings report on Tuesday. One big factor: The revenue momentum from higher interest rates is petering out. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Goldman Moves to Unload GM Credit Card
7Nov By adminNo Comments
Money

Goldman Moves to Unload GM Credit Card

Updated Nov. 7, 2023 5:44 pm ETGoldman Sachs plans to begin a process to unload its General Motors credit-card program in another step away from its failed foray into consumer lending.The bank on Tuesday informed a group of employees within its Platform Solutions division, who work on the GM card, that a process to find a new issuer will begin soon, people familiar with the matter said. GM is expected to run the process.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Wall Street CEOs Flocked to Hong Kong—and Kept Quiet on China
7Nov By adminNo Comments
World

Wall Street CEOs Flocked to Hong Kong—and Kept Quiet on China

Updated Nov. 7, 2023 4:16 pm ETHONG KONG—When some of Wall Street’s most powerful executives assembled in Hong Kong this week, one topic was noticeable by its absence: China.The chief executives of U.S. banks including Citigroup, Goldman Sachs and Morgan Stanley were in the city on Tuesday for the Global Financial Leaders’ Investment Summit, where they rubbed shoulders with local government officials and senior Chinese regulators. They spoke about broad topics such as financial stability, interest rates and capital markets.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Basic Materials Roundup: Market Talk
7Nov By adminNo Comments
World

Basic Materials Roundup: Market Talk

The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0810 GMT – Posco Holdings’ steel shipments could start to rebound in 1Q 2024, Meritz Securities analyst Jang Jae-hyeok says in a research note. The South Korean steelmaker’ steel-product sales could recover next year on the Chinese government’s increased infrastructure investment, which should lead Chinese steelmakers to raise product prices and thus raise overall average selling prices for steel goods, Jang notes. However, the company’s lithium segment could be pressured by falling metal prices, he says. Meritz trims the stock’s target by 3.1% to KRW630,000 to reflect the lowered valuation for the lithium business but keeps a buy rating. Shares ended 11% lower ...
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Charles Schwab’s Rocky Year in Five Charts
5Nov By adminNo Comments
Money

Charles Schwab’s Rocky Year in Five Charts

Listen to article(1 minute)Even the top executives at Charles Schwab will admit 2023 has been a trying year.The largest publicly traded U.S. brokerage just laid off roughly 2,000 employees. An integration of customers from Schwab’s acquisition of TD Ameritrade has been less than smooth for many clients. Widespread concerns about bank-deposit flight sent Schwab shares tumbling this spring—and the stock has yet to recover.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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