Goldman Sachs Chairman and CEO David Solomon told CNBC on Tuesday that he’s concerned about the intense demand from retail investors in recent initial public offerings. “I do think we’re in a moment in time where there’s a lot of euphoria. I personally am concerned about that,” Solomon said on “Squawk Box.” “I don’t think
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Mitch McConnell, the Senate’s top Republican, has congratulated Joe Biden on winning the US presidential election, making him the highest-ranking Republican yet to break with Donald Trump, who has refused to concede. Mr McConnell, the Republican majority leader in the Senate, said on Tuesday that the US “has officially a president-elect and a vice-president elect”
Economic indicators are some of the most valuable tools investors can place in their arsenals. Consistent in their release, wide in their scope and range, metrics such as the Consumer Price Index (CPI) and written reports like the Beige Book are free for all investors to inspect and analyze. Policymakers, most notably those at the Federal Reserve, use indicators
Credit Suisse has promised to increase its profits from wealthmanagement by at least a quarter by 2023 and expand its investment bank as chief executive Thomas Gottstein laid out his priorities. In an investor update on Tuesday, the Swiss bank outlined its main areas of focus for the next three years. Those priorities include building
Shaftesbury, one of the biggest landlords in London’s West End, has slumped to an annual loss as the pandemic hammered rental income and its properties fell in value. The London-listed company, whose property portfolio is heavily exposed to the hospitality and retails sectors, on Tuesday reported a pre-tax loss of £699.5m in the 12 months
Because of their eagerness to be considered for gainful employment, many people often overlook improper interview questions. Depending on how they are asked, questions about personal topics, such as marital status, race, and health, are more than just poor manners; they are illegal under federal and some state and local laws. These types of questions
New York City faces the prospect of another “full shutdown” due to an increasing level of coronavirus infections, mayor Bill de Blasio warned. “We need to recognise that that may be coming and we need to get ready for that now,” he told CNN on Monday, saying employees should avoid offices and work from home
Republicans in Congress acknowledged that Joe Biden would be the next US president after he secured the required 270 Electoral College votes on Monday, in a decisive break with Donald Trump’s refusal to concede defeat. Several high-profile Republican senators, including Lindsey Graham of South Carolina, John Cornyn of Texas, and Chuck Grassley of Iowa, acknowledged
A disclosure document can be important for both home buyers and sellers. When an owner sells a property, they are typically required to disclose information in a written document. The requirements vary based on state and local laws. In general, a disclosure document is supposed to provide details about a property’s condition that might negatively affect its
A large Chinese clothing maker revealed on Monday that it had failed to pay back investors on a $153m bond, the latest in a string of defaults that has sent tremors through the country’s $4tn corporate bond market. Shandong Ruyi Technology Group, which has struggled to cope with a heavy debt load after a series
SpaceShipTwo “Unity” on the runway after an aborted spaceflight test on Dec. 12, 2020. Virgin Galactic Virgin Galactic’s stock fell in premarket trading on Monday after the space tourism company cut short its latest spaceflight test mid-launch on Saturday due to an engine ignition issue. “The flight did not reach space as we had been
Germany is heading for a double-dip recession this winter after Berlin imposed a hard lockdown, economists have predicted, denting hopes that Europe’s largest economy will rebound to pre-pandemic levels by the start of 2022. Chancellor Angela Merkel’s government announced at the weekend that schools and most shops would be closed from Wednesday until January 10
2020 was full of surprises for investors, and many of them were unpleasant. From the coronavirus bear market to a massive drop in oil prices, 2020 offered lots of ways to lose money. Given this situation, it’s unsurprising that many exchange traded funds (ETFs) also failed to perform well. Key Takeaways From the coronavirus bear
Reddit has bought TikTok rival Dubsmash, becoming the latest social media platform to expand into the increasingly competitive viral video segment. The Silicon Valley-based online discussion forum did not disclose the financial terms of the cash and stock deal, its highest-profile acquisition to date. In a statement published on Sunday, Reddit said it planned to
Sterling rallied early on Monday after the EU and UK decided to “go the extra mile” and continue Brexit trade negotiations. The pound climbed 1.2 per cent against the dollar in morning dealings in London to $1.3385. It advanced 0.9 per cent against the euro to €1.1014. Monday’s gains partially reversed last week’s 1.6 per
Generally, a partnership is a business that is owned by two or more individuals. In all forms of partnerships, each partner is required to contribute resources such as property, money, skill or labor in exchange for sharing in the profits and losses of the business. For limited partnerships and master limited partnerships, the simplest way to explain
Packs of 2019 Topps cards spread out across a table. Sam Rega Interest in collecting and values have seen a steady uptick for the last decade with prices really starting to rise at quicker rate somewhere around 2016 or 2017. With the onset of the pandemic at the beginning of this year, card collecting reached
John le Carré, the author whose nuanced thrillers deftly explored the multiple personal and political complexities of the Cold War, has died aged 89. The writer of classics such as The Spy Who Came in from the Cold and Tinker, Tailor, Soldier, Spy died on Saturday from pneumonia in Cornwall according to a statement released
UK business leaders expressed frustration on Sunday that companies still did not know the terms of trade with the EU on January 1, as retailers warned the public against stockpiling food. They also want financial support to help industries that have already been hit hard during the coronavirus pandemic. US doctors could administer the first
Why is getting student loan help quickly so important? It’s not just the worried feeling in the pit of your stomach when you’re falling behind on your loan payments—or seeing a near-future date when you will. Miss enough payments and you could face serious consequences. Along with damage to your credit score, you could have
Signage is displayed outside the Campbell Soup Co. factory in Toronto, Ontario, Canada. Cole Burston | Bloomberg | Getty Images This week, Wall Street looked to Washington as lawmakers tried to reach an agreement on a coronavirus relief package before the end of the year. Both sides of the aisle appeared far from striking
Regulatory targets often complain that their opponents are fighting the last war. Indeed, that was Facebook’s first response when it was sued last week by the Federal Trade Commission and 48 state attorneys-general for anti-competitive practices. The states and federal government are seeking to force the company to spin off WhatsApp and Instagram, acquisitions made
The writer is chairman of Fulcrum Asset Management With optimism rising about the roll out of Covid-19 vaccines, financial markets have been gripped by a global “reflation” trade, implying faster growth in nominal gross domestic product and company profits. Economic forecasters have been scrambling since mid-year to upgrade their real GDP growth projections once the
401(k) vs. IRA: An Overview Saving for retirement is one of the most important financial goals that we need to achieve in our lifetime. The choice of which retirement savings account can help accomplish that goal. Whether it’s a 401(k) offered by an employer or an individual retirement account (IRA) that you established on your
For months after the Brexit referendum, Japanese bankers were invited on tours of Frankfurt. They would take in a football match and meet one of the local club’s star players: Makoto Hasebe, former captain of Japan’s national team. Impressed by the German city’s clean air, green spaces and family-friendly atmosphere, most of the bankers switched
UK equity funds have bled more than $2bn over the past two months, highlighting the extent of investor unease as a no-deal Brexit becomes increasingly likely. Investors have pulled a net $2.4bn from funds exposed to the UK stock market since the start of October, according to data provider EPFR Global. Britain’s trade talks with
The exchange-traded funds (ETFs) below offer diversified investment in European government bonds, with hedging in non-European countries, particularly Japan. ETFs are funds that contain many securities that usually track an underlying index, such as a bond or stock index. European government bonds tend to carry more risk than U.S. government bonds, depending on market conditions and
Aeroplanes and trucks will begin carrying the first authorised coronavirus vaccines across the US this weekend as nearly 3m doses make their way to hospitals in all 50 states. Workers at manufacturing plants in Wisconsin and Michigan began packing doses of the vaccine made by Pfizer and its German partner BioNTech on Saturday, following the
China vowed to nearly triple its wind and solar capacity during the next decade, as President Xi Jinping joined other world leaders at a UN climate summit focused on new emissions targets. Mr Xi’s statement was the most consequential at a virtual summit that included more than 70 heads of state, hosted by Boris Johnson
What Are Stock Exchanges? A stock exchange does not own shares. Instead, it acts as a market where stock buyers connect with stock sellers. Stocks can be traded on several exchanges such as the New York Stock Exchange (NYSE) or the Nasdaq. Although most stocks are traded through a broker, it is important to understand