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19 mentions found


☆ Fed will likely only cut rates once due to resilient and robust economy: strategist Scott Clemons
  + stars: | 2024-04-16 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed will likely only cut rates once due to resilient and robust economy: strategist Scott ClemonsScott Clemons, Brown Brothers Harriman Private Banking chief investment strategist, joins 'Power Lunch' to discuss the markets, the U.S. economy and what's ahead for the Federal Reserve.
Persons: Scott Clemons Scott Clemons, Brown Organizations: Brown Brothers Harriman Private Banking, Federal Reserve Locations: U.S
☆ More attention should be focused on valuations in tech, says Brown Brothers Harriman's Scott Clemons
  + stars: | 2024-02-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMore attention should be focused on valuations in tech, says Brown Brothers Harriman's Scott ClemonsScott Clemons, Brown Brothers Harriman chief investment strategist, joins 'Power Lunch' to discuss what investors need to be on the lookout for, what the macroeconomic background says about the potential for market growth, and what's required for more market breadth.
Persons: Brown, Scott Clemons Scott Clemons Organizations: Brown Brothers Harriman
☆ I started DJing in my 70s. When my wife and I go to nightclubs people there say they want to be like us when they get older.
  + stars: | 2024-01-23 | by ( Melissa Noble | ) www.businessinsider.com   time to read: +5 min
My wife Christine and I started our business, Kinder Australia Pty Ltd (a supplier of mechanical conveyor parts), in 1985. AdvertisementI started DJing early in the pandemicWhen we all went into lockdown in 2020, I thought, "What's everyone going to do? When things opened up, we went to see a fair bit of live music. Then, I started to connect socially with some of the people who were doing live podcasts during the early pandemic. It went really well.
Persons: —, Neil Kinder, Christine, Neil, Christine Kinder, Nightingale Bros, Beauy, Australia — Brown Brothers —, Sam Miranda, Christine Kinder It's, I've, Goodness Organizations: Service, Business, DJ, Kinder Australia, Facebook, Spotify Locations: Melbourne, Beaumaris, Australia
☆ The Crown, the Cabinet and the UK’s legacy of slavery
  + stars: | 2023-11-24 | by ( ) www.reuters.com   time to read: +11 min
British banks backed large parts of the U.S. slavery economy, and British factories were the world’s largest customers for the cotton produced by plantations in southern U.S. states. In 1663, it was granted a monopoly by King Charles II for the British slavery trade. In 1794, Eli Whitney patented the cotton gin, a machine that would transform the U.S. slavery economy. Mill owners including the Arkwrights, one of the richest families in the industry, were Smith family clients. Two British travel writers visited Farm Pen in 1837, when the land was still in Smith family hands.
Persons: ”, Nick Draper, George Smith, King Charles, Hunt, Trevor Burnard, “, ” Burnard, Smith, Edward, René Payne, Payne, John Tunno, John de Ponthieu, … ” Edward Payne, slaveholder John de Ponthieu, de Ponthieu, buryed, King Charles II, John Montagu, Edward Montagu, Montagu, ” John Montagu 11th Earl of Sandwich, Edward Montagu , 1st Earl of Sandwich, Nicholas Radburn, ” Radburn, Brookes, –, Eli Whitney, Rothschild, Geoffrey Clifton, Brown, William, James Brown, James, Clifton, Harriman, Draper, Morgan Chase, Joseph Sturge, Thomas Harvey Organizations: America, University College London, “, Wilberforce Institute, University of Hull, ”, Reuters, Company of Royal Adventurers of, Royal African Company, The Company, Royal Adventurers of, Lancaster University, Traders, Transatlantic, Brown Brothers, Brown, Harriman & Co, Planters Bank of Tennessee, Planters Bank of Mississippi, Rio, Spanish Town Locations: Britain, U.S, British, Caribbean, British Caribbean, America, English, Nottingham, London, West India, Bristol, Liverpool, United States, South Carolina, Charleston, Barbados, Africa, North, Clifton, New York, Louisiana and Mississippi, Louisiana, Jamaica, Kingston, Spanish
☆ Fidelity rolls out suite of new ETFs, slashes fees
  + stars: | 2023-11-13 | by ( Suzanne Mcgee | ) www.reuters.com   time to read: +1 min
Nov 13 (Reuters) - Fidelity launched a group of six new exchange-traded funds (ETFs) Monday and announced sharp reductions on management fees on nearly a third of its total ETF lineup, kicking off what analysts expect to be another strong week for ETF debuts. So far this year, asset managers have launched 419 ETFs, according to Morningstar Direct, taking 2023 a step closer toward breaking the 2021 record of 475 new ETFs. The move will boost Ark's lineup from eight ETFs to a total of 15. The Fidelity products offer fees of 18 basis points to 28 basis points, compared with an average fee of around 63 basis points for actively managed ETFs, according to Bryan Armour, mutual fund analyst at Morningstar. "These are very, very substantial reductions, and the new fees are very low," said Armour.
Persons: John Hooson, Harriman, Bryan Armour, Suzanne McGee, Ira Iosebashvili, Deepa Babington Organizations: Fidelity, Morningstar, Invest, 21Shares, Brown, Thomson
☆ Dollar on track for best quarter in a year
  + stars: | 2023-09-29 | by ( Karen Brettell Amanda Cooper | Karen Brettell | Amanda Cooper | ) www.reuters.com   time to read: +4 min
Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Meanwhile, a partial government shutdown is looming, which could affect the release of economic data and potentially dent economic growth. The greenback is up 3.54% against the yen this quarter, following an 8.66% gain last quarter. Core inflation in Japan's capital slowed in September for the third straight month mainly on falling fuel costs, data showed on Friday. The British currency is on track for a quarterly loss of 3.85% against the U.S. dollar, the worst performance in a year.
Persons: Florence Lo, ”, Peter Cardillo, Brown Brothers Harriman, “ We’re, Janet Yellen, Sterling, Karen Brettell, Amanda Cooper, Stephen Culp, David Holmes, Nick Zieminski Organizations: U.S, REUTERS, Spartan Capital Securities, Federal Reserve, Brown Brothers, Republicans, U.S . House, Treasury, U.S ., Thomson Locations: New York, U.S, London
☆ Regional bank stocks edge higher after two-day slump
  + stars: | 2023-05-03 | by ( Medha Singh | ) www.reuters.com   time to read: +2 min
PacWest Bancorp (PACW.O) shares rose 6.5% in early afternoon trading after tumbling 28% to close at their lowest level on record on Tuesday. Western Alliance Bank (WAL.N) advanced 4.2%, while Comerica (CMA.N) and Valley National Bankcorp (VLY.O) added nearly 1% and more than 2%, respectively. The KBW Regional Banking Index (.KRX) rose 2% after closing at its lowest level since December 2020 on Tuesday. The plunge in regional bank stocks came after U.S. regulators seized First Republic Bank and sold off its assets to JPMorgan Chase & Co (JPM.N) for $10.6 billion. The bank selloff indicates investor unease over their outlook following the First Republic deal, Brown Brothers Harriman analysts wrote in a note.
☆ US regional lenders notch modest gains after two-day slump
  + stars: | 2023-05-03 | by ( Medha Singh | ) www.reuters.com   time to read: +2 min
PacWest Bancorp (PACW.O) shares gained 2.1% in early trading after tumbling 28% to close at their lowest level on record on Tuesday. The KBW Regional Banking Index (.KRX) rose 1% after closing at its lowest level since December 2020. Evercore ISI analysts lowered their 2023 earnings outlook for regional lenders. The brokerage now estimates a nearly 1%decline from a year earlier, compared to an already lowered expectations of a 4% growth, blaming it on intensifying funding cost pressures amid declining regional bank deposits. Meanwhile, short sellers have pocketed $1.2 billion in paper profits betting against regional lenders in the first two days of May, with Truist Financial Corp (TFC.N) and PacWest generating the highest gains, analytics firm Ortex said.
☆ Capital Group expands ETF lineup, including two new international funds
  + stars: | 2023-04-11 | by ( Jesse Pound | ) www.cnbc.com   time to read: +3 min
Multi-trillion dollar asset manager Capital Group is expanding its ETF lineup after some of its first funds gained traction last year. The Los Angeles-based firm on Tuesday filed for three new active ETFs — International Equity ETF (CGIE), World Dividend Growers ETF (CGDG) and Core Balanced ETF (CGBL) — under the Capital Group banner. The new funds come a little more than a year after Capital Group — founded in the Depression and known for its American Funds — first dipped its toe into the ETF world. Our new ETF — CGIE — is more of a developed-market focused ETF," Davis said. Meanwhile, the new global dividend fund is in part a response to the success of the U.S.-focused Capital Group Dividend Value ETF (CGDV) , Davis said.
☆ The world's largest AI fund has surged 23% this year, beating even the red-hot Nasdaq index
  + stars: | 2023-04-03 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +2 min
The Global X Robotics & Artificial Intelligence ETF, the largest AI fund in the world, is up 23% so far in 2023. This has included $135 million of inflows so far in 2023, including $80 million in March, according to data compiled by Bloomberg. That's led the world's largest AI fund, the Global X Robotics & Artificial Intelligence ETF (BOTZ), to a stronger start in 2023 than even the red-hot Nasdaq 100. Further, lesser-weighted fund members like C3.ai and South Korea-based Rainbow Robotics have seen their stocks soar more than 200% this year. Among 325 professional investors, 56% plan to add AI- and robotics-themed exposure to their portfolios this year, the survey found.
☆ Argentina and Brazil are discussing a common currency. Don’t hold your breath
  + stars: | 2023-01-23 | by ( Julia Horowitz Mia Alberti | Julia Horowitz | Mia Alberti | ) edition.cnn.com   time to read: +4 min
London CNN —The two biggest economies in South America are starting talks to create a common currency. At a press conference in Buenos Aires, he said establishing a common currency for trade would reduce reliance on the US dollar, whose sharp ascent last year was painful for countries around the world. Talk of creating a common currency has periodically cropped up since its founding in 1991. Still, investors are doubtful efforts to create a common currency in the region will gain much traction. “Brazil and Argentina are a long way away from the convergence in economic policy and performance required to launch [a] monetary union,” he said.
☆ Dollar, euro rangebound ahead of U.S. inflation report
  + stars: | 2023-01-11 | by ( ) www.cnbc.com   time to read: +2 min
The dollar was little changed on Wednesday versus the euro and other major currencies as traders held off from making big moves ahead of U.S. inflation data on Thursday, which may offer a clearer picture of where interest rates are headed. The euro was up 0.3% at $1.07675 against the dollar. "Unless the global growth backdrop continues to improve more materially, we expect dollar downside to remain constrained," Rosenberg said. The dollar index, which measures the greenback against a basket of currencies, including the euro, dipped 0.068% to 103.18. The Australian dollar edged up 0.04% to $0.6896 after data showed the annual pace of inflation increased to 7.3% in November, leaving room for more rate hikes.
☆ Dollar holds near seven-month lows as traders await inflation data
  + stars: | 2023-01-10 | by ( John Mccrank Alun John | John Mccrank | Alun John | ) www.reuters.com   time to read: +3 min
The euro edged up 0.01% against the greenback to $1.0733 at 10:30 a.m. EST (1530 GMT), just below its seven-month high of $1.07605 hit Monday. Investors now expect rates to peak just under 5% by June, before starting to come down later in the year. The pause in the dollar's decline comes as traders ready themselves for U.S. Consumer Price Index (CPI) inflation data on Thursday. The China-sensitive Australian dollar spiked at a more than four-month peak of $0.6950 in the previous session. The offshore yuan last traded at 6.7878 per dollar, after hitting its strongest in five months of 6.7590 earlier in the session.
☆ Bank of America sees a super volatile year ahead but has 2 stock-buy strategies so you can sleep at night
  + stars: | 2022-12-06 | by ( Michelle Fox | ) www.cnbc.com   time to read: +5 min
"We expect another volatile year and recommend owning High Quality stocks … But today's High Quality stocks look different than a few years ago (e.g. The oil refiner posted third-quarter earnings and revenue that beat Wall Street's expectations in October. The health insurer beat analysts' expectations with its third-quarter earnings report in November. Walmart's strength in its third-quarter earnings came from its food business, which is bigger than Target's. Walmart's per-share earnings beat expectations , while Target reported a third-quarter earnings miss and profit that fell by about 50%.
☆ Sam Bankman-Fried took plenty of blame for FTX's downfall, but denied fraudulent behavior
  + stars: | 2022-12-01 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
And while I've got you here, it's time to start thinking about gifts with the holidays season in full swing. Do you know what's an informative, funny gift that has a long shelf life and, most important of all, is free? FTX Cryptocurrency exchange CEO Sam Bankman-Fried at a hearing on Capitol Hill on May 12, 2022. But the main attraction at The New York Times DealBook Summit on Wednesday was Sam Bankman-Fried. And frankly conflict of interest risk," SBF said.
☆ Stocks making the biggest moves premarket: Hormel, Petco, CrowdStrike and more
  + stars: | 2022-11-30 | by ( Peter Schacknow | ) www.cnbc.com   time to read: +2 min
Earnings beat estimates, but sales came up short of Wall Street forecasts. Petco (WOOF) – Petco's adjusted quarterly earnings of 16 cents per share matched Street forecasts, but revenue was slightly above estimates. CrowdStrike (CRWD) – CrowdStrike plunged 17.6% in the premarket after the cybersecurity company's subscription numbers came in below analyst forecasts. NetApp (NTAP) – NetApp tumbled 10.9% in the premarket on a weaker than expected forecast from the cloud computing company, which reported better than expected quarterly earnings. Hewlett Packard Enterprise (HPE) – Hewlett Packard Enterprise added 1.9% in the premarket after the enterprise computing company reported record quarterly sales and issued strong revenue guidance.
☆ Stocks making the biggest moves midday: CrowdStrike, Horizon Therapeutics, Petco and more
  + stars: | 2022-11-30 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +3 min
Otherwise, CrowdStrike beat estimates on the top and bottom lines in its most recent quarterly results. Petco — Shares of Petco jumped 12% after reporting third-quarter revenue that was slightly above Wall Street estimates. Workday — Shares of Workday jumped 12% after the company posted earnings results Tuesday that beat Wall Street expectations. Though earnings beat Wall Street estimates, revenue came up short. Biogen — Shares rose more than 3% after a new study on Biogen and Eisai's experimental Alzheimer's drug showed promising results.
☆ Mark Cuban rejected these ‘Shark Tank’ founders in less than 2 minutes: ‘Dumbest marketing move ever’
  + stars: | 2022-11-21 | by ( Megan Sauer | ) www.cnbc.com   time to read: +3 min
On Friday's episode of ABC's "Shark Tank," billionaire Mark Cuban left a deal in less than two on-screen minutes for a different reason: the "dumbest marketing move ever." But they made their fatal error early: They gave Cuban, the owner of the NBA's Dallas Mavericks, an air freshener with the Golden State Warriors' logo on it. "You got to read your room," Cuban said, throwing down the air freshener. Ride FRSH had made $1.1 million in revenue in three years since launching, due largely to its subscription model. She offered $200,000 for 25% of Ride FRSH, contingent on their pending partnerships becoming official.
☆ Goldman Sachs' humbling U-turn on its consumer banking ambitions
  + stars: | 2022-10-19 | by ( Jeffrey Cane | ) www.businessinsider.com   time to read: +5 min
Third-quarter results from the big Wall Street banks are now behind us, and they were … pretty good, all things considered? Goldman Sachs reported yesterday, and while it may not be the biggest nor the best bank (OK, No. Trading and dealmaking made the reputation of the 153-year-old Wall Street firm, but the spotlight lately has been on its struggling consumer banking unit, Marcus. The consumer business "doesn't make money at the moment," Solomon acknowledged, but he added: "The deposits are hugely valuable. From Wall Street darlings to prey.
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