Bank of America Profit Falls 22% | Ben Eisen
The lender launched $828 million in funds it had put aside to cowl soured loans, an indication that its executives imagine there will not be as a lot client and enterprise misery as initially thought.
Financial Services
Renaissance Says Losses Should Have Been Expected at Some Point
www.wsj.com | Its Medallion hedge fund, which is accessible solely to staff and choose others, soared 76% in 2020. Its three funds open to outsiders, the …
The Debt Question Facing Janet Yellen: How Much is Too Much? | Kate Davidson and Jon Hilsenrath
The Treasury secretary nominee, going through affirmation hearings this week, helps Biden administration plans that add trillions to U.S. borrowing, backed by a turnabout in financial considering.
Week's Best: Citigroup Reorganizes Wealth Business
www.barrons.com | The transfer is a part of a pattern wherein giant monetary establishments have been … of digitally enabled monetary merchandise” for its clients and staff.
James Simons Steps Down as Chairman of Renaissance Technologies
www.wsj.com | … is stepping again from his hedge fund on the heels of a horrible yr for shoppers, … Against this, the skin funds maintain investments for longer durations, …
Asian markets mixed Friday as investors eye Wall Street reaction to Biden relief plan | Associated Press
U.S. President-elect Joe Biden on Thursday night time offered his plan for combating the coronavirus and jump-starting the U.S. economic system .
Why BlackRock’s CEO Says the Retirement Crisis Is Getting Worse | Leslie P. Norton
Larry Fink is optimistic concerning the outlook for markets, however that doesn’t imply the going might be easy: He additionally expects a 5% to 10% correction in the midst of the 12 months.
ARK Invest Is Planning a Space ETF. Here Are 5 Stocks That Could Benefit. | Al Root
www.barrons.com | Wooden, for her half, runs the ARK Innovation ETF (ticker: ARKK). Tesla (TSLA) is the fund’s largest place, which helped the ETF publish robust 2020 efficiency. The ETF …
The Dow Slipped 8 Points, but Big Tech Stocks Powered Higher | Jacob Sonenshine
Apple, Amazon, Netflix, and Microsoft inventory ended with materials positive aspects, as worth shares reeled. Johnson & Johnson slipped on a report it was seeing delays in making coronavirus vaccine doses.
Is Walmart Getting Into Wealth Management?
www.barrons.com | The retailer already affords a number of monetary providers and can proceed to take action, however they don't fall into the wealth administration area of interest. They embody: …